How recognize interest revenue from the cd
Zenephia Corp. invested cash in a 9-month CD on October 1, 2010. If Zenephia has an accounting period which ends on December 31, 2010, when wouold it most likely recognize interest revenue from the CD?
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Trail Power has been using the same machines to make its name brand clothing for the last 5 years. A cost efficiency consultant has suggested that production costs may be reduced by purchasing more technologically advanced machinery.
Adria Lopez is considering the purchase of equipment for Success Systems that would allow the company to add a new product to its computer furniture line.
The MACRS depreciation allowances on 3-year property are 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. What is the amount of the depreciation in year 2 for 3-year property with an initial cost of $64,000?
When comparing various divisions within a company, describe what problems can arise from evaluating divisions that have different accounting methods, as described in Chapter 11 of your text.
On the first day of the fiscal year, a new walk-in cooler with a list price of $58,000 was acquired in exchange for an old cooler and $44,000 cash.
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 35,000 direct labor-hours would be required for the periods estimated level of production.
Explain how accrual accounting differs from cash-basis accounting; adjust the accounts) An accountant made the following adjustments at December 31, the end of the accounting period:
Under the immediate write-off approach to overhead variances, how would you dispose of the overhead variance?Compute the underapplied or overapplied factory overhead.
Prepare journal entries to record these transactions and adjustments for 2010 and 2011.How much warranty expense is reported for November 2010 and for December 2010?
The following data has been taken from the management accounting reports from Spinnaker Sales. Div A -Income from operations $1,800,000 Total service department charges $1,600,000.
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