MTT (Set 5 with answer) 1) The following is selected information from the records of Ray‚ Inc.: Purchases of raw materials $ 6‚000 Raw materials‚ beginning 500 Raw materials‚ ending 800 Work-in-process‚ beginning 0 Work-in-process‚ ending 0 Cost of goods sold 12‚000 Finished goods‚ beginning 1‚200 Finished goods‚ ending 1‚400 What is the total amount of conversion costs? a. $5‚500 b. $5‚900 c. $6‚100 d. $6‚500 ANSWER: Choice "d" is correct. Conversion costs (labor and overhead)
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on October 31 & April 30) 3) On 5/3/09 XYZ declares a cash dividend of $0.03 per share (100‚000 shares outstanding) 4) Paid $60‚000 on 5/10/09 for inventory purchased on account in April 5) Sold $3‚500 of inventory to a customer on account on 5/17/09; cost of merchandise sold is $2‚000 6) Received $10‚000 from a customer on 5/20/09. The sale was made on account in April 7) On 5/25/09 XYZ Inc. pays the cash dividend (refer to transaction 3) 8) Prepare the entry XYZ would
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Required: a) Compute the amount of Federal income tax savings (he’s in the top marginal rate of tax) Arthur would realize from the incorporation of the business. (3 marks) b) Which of the above assets should not be transferred to the corporation under S85? Your answer should address which assets should not be transferred at all‚ which should be transferred (but not under S85) and the consideration that Arthur
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This paperwork ACC 561 Week 4 IndividualWileyPlus Exercise BE18 1‚ BE18 7‚ BE18 11 includes answers to these exercises: 1) Brief Exercise BE18-1 Monthly production costs in Pesavento Company for two levels of production are as follows. Cost 3‚000 units 6‚000 units Indirect labor $10‚000 $20‚000 Supervisory salaries 5‚000 5‚000 Maintenance 4‚000 7‚000 Indicate which costs are variable‚ fixed‚ and mixed. Indirect labor Variable cost
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of a client’s equity securities or controls the client. In | |addition‚ independence is considered to be impaired if any partner’s close family member controls an SEC Audit Client. | 4-18 A) 1 B) 2 C) 4 4-19 A) 2 B) 1 C) 3 4-20 A) The AICPA independence rules requires members to adhere to more restrictive independence rules of other regulatory bodies‚ such as the SEC. It is not permissible for an audit firm to provide bookkeeping services too public company audit
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resource information on vertical and level communication. Answer the following questions based on that information. 2. After reviewing level and vertical communication‚ what style of communicator are you? (5 points) Vertical___________ Level_____X______ 3. Which style do you see most frequently in your family’s communication? (level or vertical) _____Level______ (5 points) 4. Give two examples of how vertical communication might be used by family members when communicating. (5 points per answer total
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recognize revenue upon receipt of the pledge. In the fund statements‚ the donation cannot be recognized as revenue until it is available for expenditure. Problems 4-1‚ 4-2‚ 4-7‚ and 4- 8 4-1. 1. d 6. d 2. a 7. b 3. b 8. b 4. c 9. a 5. c 10.a 4-2. 1. e 6.j 2.m 7.f 3.e 8.c 4.h 9.p 5.h 10.p 4-7. 1. Journal entries A.Cash 200‚000 Grant Revenue 200‚000 B. Repair Expenditure 150‚000 Cash 150‚000 c. Cash 200‚000 Deferred revenue 200‚000 2. Revenue that should
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between two contribution margin is 275.000$. PROBLEM 26-2 : Vulcan Swimsuit Company Fixed costs = 861.840$ x 35% x 1/3 = 100.548$ 861.840 - 100.548 = 761.292$ Contribution Margin = 950.760$ - 761.292$ = 189.468$ ** According to the analysis‚ the contribution margin is 189.468$. The line should not be dropped because this is the contribution to fixed cost and profits. PROBLEM 26-3 : George Jack’s Company a. 5000-unit custom order calculations 1) The differential cost of the order Material cost : 4
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Week 5 – Assignment Ilba Rodriguez ACC 205: Principles of Accounting I Prof. Theresa Murray November 16‚ 2014 Problem 1 – Liquidity ratios. A. Edison Stagg Thornton Current ratio 3.56 3.69 3.83 Quick ratio 3.06 2.78 2.5 Current ratio calculations: Edison ($6‚000 (cash) + $3‚000 (short-term investments) + $2‚000 (AR) + $1‚000 (inventory) + $800 (prepaid expenses)) / ($200 (AP) + $3‚100 (notes payable) + $300 (accrued payables)) = 3.56 Stagg ($5‚000 (cash) + $2‚500 (short-term investments) + $2‚500
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PROJECT REPORT ON Brand Image of ACC Cement in the Cement Industry SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION TO FACULTY OF MANAGEMENT (Punjabi University‚ Patiala) Faculty Guide: SUBMITTED BY: Ms Kavita Amit Kumar MBA-3rd Roll no. 5277 CHANDIGARH GROUP OF COLLEGES‚ GHARAUN 2010-2012 CERTIFICATE OF APPROVAL This is to certify that the project report entitled
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