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You are an accountant in a medium-sized manufacturing company. You have been asked to mentor an accounting clerk who is new to your accounting department.Explain why adjusting entries are necessary.Describe the 4 types of adjusting entries, and provide a manufacturing industry example of each.Describe how these entries would be recorded in a computerized accounting system.
The machine is expected to reduce labor costs by $70,000 per year and material scrap by $20,000 per year. The machine is expected to have a 5-year life. What is the present value of this investment, assuming a 12% interest rate?
janus inc. is preparing an estimate for a customer order. the order requires 800 liters of material k44t. k44t is used
milwaukee inc. has three divisions bud wise and er. the results of may 2013 are presented below.budwiseertotalunits
oslo company prepared the following contribution format income statement based on a sales volume of 1000 units the
a current client is considering a change in their corporate structure. they recognize that this will impact their
Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2011 include: beginning inventory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sal..
In this discussion post you are to discuss either the pro or con of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associ..
Which of the following steps in the accounting cycle requires the most thought and judgment by the accountant: (a) preparing a trial balance, (b) posting adjusting, and closing entries, or (c) analyzing and recording transactions? Explain your ans..
abc company employs a periodic inventory system and sells its inventory to customers for 20 per unit. abc company had
The local garden club, an exempt organization, had gross unrelated business income during the year of $15,000. Its costs associated with this income were $9,800. What is its unrelated business income tax?
the zaf radiator company uses a normal -cost accounting system with a single manufacturing overhead cost pool and
on 112010 jannison inc. acquired 90 of techron co. by paying 477000 cash. there is no active trading market for techron
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