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The statement of cash flows (as well as the balance sheet) includes within cash the notion of cash equivalents. The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.
Required:
1. Obtain the relevant authoritative literature on cash equivalents using the FASB's Codification Research System at the FASB website (www.fasb.org). What is the specific citation that describes the guidelines for determining what items should be deemed cash equivalents?
2. List the guidelines.
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Calculate the Manufacturing Overhead balance at the end of the year and the journal entry to clear this amount if necessary.
Suppose the division has the opportunity to purchase the ceramic pot from another manufacturer for $60. The supplier is willing to hold sufficient inventories to meet Evergreen's demand. Should the division outsource its ceramic pots? Why or why n..
In its first year of operations, Eagle produced and sold 10,000 tables. The tables sold for $120 each. How would Eagle's variable costing net operating income have been affected in its first year if only 9,000 tables were sold instead of 10,000?
Journalize these transactions, first on the books of the Brookston drug store and second on the books of Springfield Medical Supply. Use the periodic inventory system.
What number of passengers is necessary to reach break even, to reach the cash point and to reach a profit target of EUR 15 Mill. - What is the optimal order quantity?
Explain in detail your findings and recommendations using the appropriate indicators from your analysis
Include an explanation of ethics in business and the managerial accountant's role in upholding the code of ethics.
Triple Play Sports manufactures baseball gloves. Information related to a recent production period is as follows: What might have caused the amount of overhead applied to be different from the actual amount.
Briefly identify and explain the principle motives for holding cash and near cash assets. What are the risk-return trade-off associated with inventory management?
Rebecca owns several successful coffeehouses. Each one has its own manger and is operated independently of the others. In what ways do the coffeehouses utilize managerial accounting in the operational planning process?
Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets?
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