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Wrecker Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $2,900). The sales tax law requires Wrecker to collect 4% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 4% tax on this sale to the state government on October 15.
Examine the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.
Computation of machine hours for product mix and evaluate how the 3,600 hours of machine time should be allocated to the three products to provide the most profitable product mix.
Cheatam Enterprises has a 4.2% merit rate on unemployment (top state rate is 5.4%). During the first week of the payroll tax year, Cheatam pays $20,000 in wages (no one employee earns over $7,000 during the week). What are the TOTAL payroll taxe..
Your original posting must be at least 250 words and your English usage must be correct. Comment on the postings of 2 other students. These comments must be at least 50 words long and should critique what the other students have said.
If overhead is allocated on the basis of direct labor hours, compute the unit cost of Product X - Evaluate the unit cost of Product X under the ABC system. Comment briefly.
accounting entries from the given information.colo company sales journaldateaccount debitedinv.no.trans.no.ar debitnbsp
Its comparative balance sheets reveal a $42,400 increase in accounts receivable, $21,730 increase in accounts payable, $11,660 decrease in prepaid expenses, and $16,430 decrease in wages payable. Prepare only the operating section of the statemen..
Determine the five costs listed in the terms of their behavior: variable, step-variable, committed fixed, discretionary fixed, step-fixed, or semi variable. Show calculations to support your answers for mining labor/fringe benefits and royalties.
BUACC5933 Cost and Management Accounting. Discuss the difficulties associated with allocating overhead costs in the contemporary manufacturing environment and identify strategies that firms can adopt to help make their overhead allocations more acc..
when a business is considering whether to replace old equipment with the newer equipment the original cost of the old -compared new equipment is information relevent to the business decisions?
What are the major risk factors and as the controller and a management accountant, what is your responsibility to this project?
Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead and compute the standard cost of one unit of product.
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