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Williams Inc. produces fluorescent lightbulbs for commercial use. The accounting manager is attempting to estimate the total cost for the next quarter using the high-low method. He has compiled data and found the high and low costs are $65,000 and $38,500, respectively, and the associated cost drivers are 8,600 and 3,300 packs, respectively. He has also determined the variable cost to be $5.00 per pack. What is the value for a (the fixed quantity)?
Fixed quantity
Determine the overhead rate for each cost pool, using the most appropriate allocation base for each pool and determine the cost of Job 2525.
Internal Controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the seven internal control procedures (10 points) and (2) provide examples of how your two selected intern..
The Rule of 72 works best with relatively low interest rates. Suppose the time it will take for an investment to double in value is 12 years. Find the interest rate. What is the approximate rate implied by the Rule of 72? Now suppose that the doublin..
Federal Semiconductors issued 13% bonds, dated January 1, with a face amount of $690 million on January 1, 2016. The bonds sold for $644,005,394 and mature on December 31, 2035 (20 years). For bonds of similar risk and maturity the market yield was 1..
A warehouse was damaged in a storm. The warehouse was worth $225,000 before the casualty and $65,000 after the casualty. The taxpayer's adjusted basis in the warehouse was $77,000. The insurance company reimbursed the taxpayer $150,000 for its loss.
The exercise price on one of Nice Co’s call options is $20, its exercise value is $31, and its premium is $7. Illustrate what are the option’s market value and the stock’s current price?
Westman Company lost most of its inventory in a fire in December just before the yearend physical inventory was taken. Prepare a formal labeled schedule computing the fire loss incurred.
Describe the valuation procedures followed by the acquiring firms to determine whether any goodwill should be recorded as a result of an acquisition.
Keyzer Soze LTD requested a sizable loan from First American Bank to acquire a large tract of land for future expansion. Keyzer reported current assets of $6,000,000 ($1,500,000 in cash) and current liabilities of $3,575,000. First American denied th..
question 1a number of years ago lee acquired a 20 percent interest in the bluesky partnership for 60000. the
Prepare a schedule analyzing the changes in Allowance for Doubtful Accounts for the year ended December 31, 2014. Show supporting computations in good form.
types of funds and taxes in government accounting and operations.assume that the city of ft. smith maintains its books
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