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The Molding Department of Bidwell Company has the following production data: beginning work process 40,000 units (60% complete), started into production 680,000 units, completed and transferred out 640,000 units, and ending work in process 80,000 units (50% complete). Assuming 100% of materials are added, equivalent units for conversion costs are:
A) 720,000.
B) 640,000.
C) 760,000.
D) 680,000.
The accountants feedback is very important especially when it comes to maintaining adequate internal controls. What type of backend controls are required in an AIS to ensure reliable financial statements? Please provide concrete examples.
On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions for the current year:
Make an adjusting enrty for the following. This is unadjusted TB. The book keeper incorrectly credited sales for a recipt onaccount for 4000.This error had not been corrected on Dec 31
Which of the following business has the burden of unlimited liability?
Calculate the marginal tax rate and the effective tax rate for each of the C corporations. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot.
Instead of estimating the uncollectibles at 2% of net sales, assume that 10% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.
Sally and Tom are married, have three dependent children, and file a joint return in 2012. If they have adjusted gross income (AGI) of $90,000 and itemized deductions of $10,000, what is their taxable income for 2012?
Teresa is a civil engineer who uses her automobile for business evenly throughout the year. Teresa drove her automobile a total of $22,650 miles evenly during 2011, of which 95% was business mileage.
What is the importance of defining the population when performing audit procedures? How would defining the population affect the sample size? How would incorrectly defining the population affect the sampling unit? (100 words)
Kordel Inc. acquired 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory acquired over the past few months.
1. in 2012 mordica co. issued 300 000 of its 500 000 authorized shares of 10 par value common stock at 35 per share. in
East, Inc. had beginning inventory of $10,000, purchases of $25,000, and ending inventory of $5,000. What is East's cost of merchandise sold?
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