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The following financial data were reported by Mac Company for 2007 and 2008 ($ in millions). Mac Company Balance Sheets (partial) 2008 2007 Current assets Cash and cash equivalents $1,997 $1,005 Accounts receivable, net 3,659 2,495 Inventories 3,050 2,589 Other current assets 645 1,175 Total current assets $9,351 $7,264 Current liabilities $7,489 $5,685 Calculate the current ratio and working capital for Mac for 2007 and 2008. Suppose that at the end of 2008 Mac management used $463 million cash to pay off $463 million of accounts payable. Calculate the revised current ratio and working capital?
corner manufacturing purchases a large lot on which an old building is located as part of its plans to build a new
Determine the equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory.
Describe THOUGHTFULLY why it is important to understand the cost drivers and the types of cost behavior, as well as the components to managerial decision making. (At least one paragraph).
You are considering opening a shop in a nearby mall that willsell specilaty T-shirts. T-shirts, containing designs and words selected by customers, will be produced for customers on order.
To measure controllable production inefficiencies, which of the following is the best basis for a company to use in establishing the standard hours allowed for the output of one unit of product?
How does the auditor's responsibility for detecting errors differ from their responsibility to detect fraud?
Memo on Capitalization of Cable Equipment
dobson manufacturing company uses a job order cost system with manufacturing overhead applied to productson the basis
Capital stock is an important area of a corporation's equity section. Generally the term "capital stock" embraces common and preferred stock issued by a corporation.
Espinosa Co. has a loss contingency to accrue. The loss amount can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The amount of loss accrual should be:
the confectioners corner inc. would like to buy a new machine that automatically dips chocolates. the dipping operation
What was the amount debited to Work in Process for factory overhead
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