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You are in charge of the audit of the financial statements of Hawk Corporation for the year ended December 31. The corporation has a policy of investing its surplus cash in marketable securities.
Kerry Company has 1,000 shares of $100 par value, 12% preferred stock and 11,000 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating.
If Pioneer uses Select couriers, it will sell the vehicle for $2,000, and the driver's employment will be terminated without any redundancy payment. The builder who covers for sic
On Nov. 1, 2010, Banana Corporation management decided to discontinue operation of its Rocketeer Division and approved a formal plan to dispose of the division.
For the coming year, Bernardino Company anticipates a unit selling price of $ 85, a unit variable cost of $ 15, and fixed costs of $ 420,000.
On the basis of raw facts calculate material yield variance,If standard mix was 560 kg before loss it was 800 kg and standard cost was $ 5600 And actual mix was 900 kg before loss it was 1200 kg an
Transactions from August 1 through December 31, Adjusting entries as of December 31,2012. Post transactions from August 1 through December 31 and adjusting entries on December 31 to T-accounts.
Calculate Labour mix variance. If Group X standard details are 200 workers at $6 per hour and its actual detail are 240 workers at $ 5 per hour. Group Y standard details are 400.
What depreciation method does Amazon use for property and equipment? What is the range of useful lives for buildings and fixtures and equipment? Do these useful lives make sense?
Variable overheads for the month ($) = 20000 (budgeted) and 18000 (actual). Output for the month (units) = 10000 (budgeted) and 8000 (actual).
ABC Company employs a periodic inventory system and sells its inventory to customers for $20 per unit. ABC Company had the following inventory information available for the month of May:
What is the range of useful lives for buildings and for fixtures and equipment?Does Amazon write off this asset? Explain what the company does.
Supply Club, Inc., sells a variety of paper products, office supplies, and other products used by businesses and individual consumers.
You are auditing a company that owns twenty percent of the voting common stock of another corporation and uses the equity method to account for the investment.How would you verify that the equity m
At the end of the year, $5,000 of supplies remained on hand. Record the adjustment necessary at december 31, 2005. How would we record this in the journal?
Video Planet ("VP") sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by VP staff.
For 2012, your corporation has a taxable income before net operating loss deduction and special deductions ( line 28, form 1120) of $375000. It had a properly allowed net operating loss (line 29a,
(Prepared from a situation suggested by Professor John W. Hardy.) Abilene Meat Processing Corporation is a major processor of beef and other meat products.
Snoslope sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Snoslope's purchases of Xpert snowboards during September.
The investment banker is interested in acquiring one of these companies. However, she is concerned about the impact that each company's cost structure might have on its profitability.
Equipment acquired on January 3, 2005, at a cost of $147,500, has an estimated useful life of eight years and an estimated residual value of $17,500.
A storage tank acquired at the beginning of the fiscal year at a cost of $86,000 has an estimated residual value of $10,000 and an estimated useful life of eight years.
Calculate: Material Cost Variance (MCV) Material Price Variance (MPV), Material Usage Variance and (MUV) through the given cardinals. Standard price of material specified.
If fares were decreased by 10%, an additional 100 fares could be generated. However, total variable costs would increase by 20%. (Round answers to 0 decimal place, e.g. 1,225.)
Journalize the entries to recored the following:Check No. 6172 is issues to establish a petty cash fund of $1,000.The amount of cash in the petty cash fund is now $239.16.