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How does it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction?
A company recently approached Baseball's management about buying 200 units of product. Baseball currently sells its product to dealers for $2,600 per unit. Capacity is sufficient to produce the extr
How does it impacts the accounting equation. Make sure to identify the account impacted. Why is it important to record your selected transaction?
On January 1, 2014, Howe Company's Accounts Receivable balance was $11,300 and the balance in the Allowance for Doubtful Accounts was $565.
Gopal was holding 100 shares of Rs.10 each of a company on which he had paid Rs3 on application ad Rs.2 on allotment,but could not pay Rs.2 on the first call.If the shares of Gopal are forfeited by
Applying Overhead in a Service Company [LO2, LO3, LO4] Leeds Architectural Consultants uses a job-order costing system and applies studio overhead to jobs on the basis of direct staff costs.
On January 1, 2014, Ballard Company spent $12,000 on an asset to improve its quality. The asset had been purchased on January 1, 2009 for $38,000.
Initial investment outlay of $25 million, comprised of $20 million for machinery with $2 million for net working capital for metal inventory and $3 million for crystals.
Jazz Ltd. purchased furniture for 3,00,000$ from Bill's Ltd.. 1,00,000$ were paid by drawing a Promissory Note in favour of Ravindram Ltd. The balance was paid by the issue of Equity Shares of $10
If the variable cost per unit increases by $1, spending on advertising increases by $1,500, and unit sales increase by 250 units, what would be the net operating income?
The cost of goods sold includes $2,575,000 of fixed manufacturing overhead; the operating expenses include $270,000 of fixed marketing expenses
In the late 2012, the Polks come to you for tax advice. they are considering selling some stocks investments for a loss and making a contribution to a traditional IRA. in reviewing their situation.
Elaine provides more than half of the support for her son James, who does NOT live with her. James is 26 and is a full-time law student. He earns $2,000 from a part-time job. He has a $11,000 schola
Over time, the production staff has noticed that products they considered easy to make were difficult to sell at margins considered reasonable while products that seemed to take a lot of staff time
Assume that you are part of the accounting team for Logan Digital. The company currently expects to sell 650 units for total revenue of $20,250 each month.
The following details are available in respect of a product produced in a factory: Product S having standard mix of 250 kg @ $5 whose standard cost is $ 1200.
Calculate material mix variance using (1) Original Standard Mix Ratio (2) Revised Standard Mix Ratio:For material A whose original standard consumption is 400 units at $12 as well as its actual cons
What principal factors were considered in determining how to account for Karas Gas's investments? Should they be shown on the balance sheet as short- term or long- term investments? What factors aff
If the Standard Cost of Material for a batch of 500 units. Material 200 Tonnes @ $ 40 per Ton. Actual Cost of Material for actual output of 25000 units Material 9860 Tonnes @ $ 38.50 per Tonne.
Machinery acquired at a cost of $76,900 and on which there is accumulated depreciation of $30,000 (including any partial year) is exchanged for similar machinery. For financial reporting purposes,
Staples, Inc. is one of the largest suppliers of office products in the United States. It had net income of $738.7 million and sales of $24,275.5 million in 2009. Its total assets were $13,073.1 mil
The City of Holland issued bonds on August 1, 2012. The interest on its bonds is paid from City of Holland Debt Service Fund on February 1 and August 1.
Adjustment (d): on December 31, management informs you that it has completed 10% of a $1,000 order on which it had received a $500 advance earlier in the year.
Prescott, Inc. uses standard costing for its one product, baseball bats. The standards call for 3 board-feet of wood at $1.40 per board-foot, and 45 minutes of work at $12 per hour per bat.
Technology has had a great impact on accounting practices and procedures. Accuracy and timely reporting are key elements in accounting reporting.