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The Company changed its process of accounting for pre-opening costs. These changes had no cash impact and the pro forma amounts accessible in the consolidated statement of income reflect the effect of retroactive application of expensing pre-opening costs.
the Dwyer corporation incurred costs of 114000 in purchasing a process which it eventually had patented. The patent was issued on July 20x1. To secure the patent, an additional 6
Q. Responsibility of Senior accountant? As a senior accountant Tracy will be accountable for the day-to-day management of several audit engagements during the year. She will pl
UNITs UNIT COST UNIT SALE PRICE AUG 3 SALE 45 $ 83 8 PURCHASE 75 $ 52 21 SALE 70 $ 85 30 PURCHASE 10 $ 55 Decorative steel began August with 55 units of iron inventory th
Q. What do you mean by Aging? Aging -- a process where accounts receivable are sorted out by age (typically current, 30 to60 days old, 60 to 120 days old and so on.) Aging perm
Q. Define Expenses in terms of accounting? Expenses are outflows or else other using up of assets or incurrence of liabilities (or a combination of both) from rendering service
Q. Inventories and revenue recognition? Management make a decision which inventory costing method or methods (LIFO, FIFO, and so on.) to use. As well, management should determi
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
How the use of different accounting policies affect the financial performance of different entities operating within the same industry
Q. What is Marginal cost and marginal revenue? Marginal cost is the extra cost incurred by addingone more item. Marginal revenue is revenue from selling one more item. Economic
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
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