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Frank James, a highly competent employee of Brinkwater Sales Corporation, had been responsible for accounting-related matters for two decades. His devotion to the firm and his duties had always been exceptional, and over the years, he had been given increased responsibility. Both the president of Brinkwater and the partner of an independent CPA firm in charge of the audit were shocked and dismayed to discover that James had embezzled more than $500,000 over a 10-year period by not recording billings in the sales journal and subsequently diverting the cash receipts. What major factors permitted the embezzlement to take place?
Antawn expects to sell 42,000 units of finished goods this period-How many units must he budget for production this period
the standard cost of product X includes 2 units of direct materials @ $6/unit. During october, the company bough 29,000 units of materials @ $6.20/unit and used those materials to produce 15,000 units. what is the total material variance? what is ..
Is Granger Stokes using budgets as a planning and control tool?
On January 1, 2013, Winn Heat Transfer leased office space under the 3 year operating lease agreement. The arrangement specified 3 annual rent payments of $80,000 each, starting January 1, 2013, the inception of lease
Which of the following does not represent a primary motivation for business combinations?
Your meeting with the CEO and other officers of the distance learning investment company will last for 35 minutes. You must get them to buy into your idea or the project will fade away.
What do you need to find out before next tax season?
If an officer is not actually paid his salary but the salary is shown as accrued for 2010, for a C Corp, is the total accrued amount for that officer included on Schedule E or only what the officer is actually paid in 2010?
What are the advantages of loan agreements that contain covenants tied to accounting numbers? Are there any disadvantages? Please explain.
Assume that the brand manager forecasts upcoming sales of SUSI to be 150,000 units, and that there are 35,000 units of SUSI in inventory
A new sales representative, Mark Yount, has just received this copy of the month-end fincnail reports. He is puzzled by the term "unearned revenue." He left the following email message for you on the company's bulletin board system: What is this?
How would you describe activity based costing? Also, can you explain why it might result in more accurate product costing information than the product cost derived under the traditional costing approach?
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