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While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine costs about $200,000 per year and there is probably 50,000 on hand at any given time.
Which of the following about debits and credits is false? A. Credits increase revenues, gains and bonds payable B. Debits increase salaries expense and prepaid expenses (prepayment
Can you give me a more simple definition of Mutual Confidence and give me an example of a situation of it
The magnitude of operating leverage for Perkins Corporation is 3.4 when sales are $100,000, if sales increase to $110,000, profits would be expected to increase by what percent?
What is the full disclosure principle
xyz manufactures plastic shelving. The annual fixed cost for its current injection equipment is $ 100,000 variable cost is $25 per unit. The annual fixed cost for a new system is $
Q. What is Fixed cost? Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciat
Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
preparing trial balance with balance method
Uses of Funds Flow Statement : This declaration is extremely helpful for policy makers as it traces the movement of funds inside the organization. Various of the uses include
As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf
Chemotherapy supplies deals with a medical practice which are considered as inventory or prepaid expenses. As in Tax Court case back that took place in 1999 which is in favour of the medical entity that did expense the supplies. However, the favourable ruling which is largely the result of the argument on reporting on an accrual basis of accounting. We will recommend that a practice expense the supplies on hand until they are consumed as is IRS guidance.
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