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(a) Give a brief summary of the current value replacement cost accounting system (entry values).
(b) Give a brief summary of the current value net realisable value accounting system (exit values).
(c) To what extent do you consider it would be useful to prepare financial statements which used entry values for the profit and loss account and exit values for the balance sheet and why?
in the erie division cost of goods sold is 60000 variable and 16500 fixed and operating expenses are 25000 variable and
Great Falls Brewery's regular selling price for a case of beer is $15. Variable costs are $8 per case and fixed costs total $2 per case based on production of 250,000 cases.
nutritional foods reports merchandise inventory at the lower of the cost or market. prior to releasing its financial
coley inc. has a cash cycle of 40.5 days an operating cycle of 57 days and an inventory period of 24.0 days. the
chopin engineering corporation purchased conveyor equipment with a list price of 15000. presented below are three
on october 29 2010 lue co. began operations by purchasing razors for resale. lue uses the perpetual inventory method.
pong incorporateds income statement for the most recent month is given below. nbspnbsptotalnbspnbspstore
nancy and jason dreyer have provided 24-hour care for their 35-year old son john who is severely handicapped and was
at the beginningof the year caples co had total assets of 800000 and total liabilities of 300000. if during the year
harmony corporation manufactures and sells a single product. in preparing the budget for the first quarter the companys
ware company borrowed 10000 on september 1 2011 from the national bank. ware agreed to pay interest annually at the
alyssas custom cakes currently sells 5 birthday 2 wedding and 3 specialty cakes each month for 50 150 and 100 each
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