Name: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an inventoriable
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Managerial Accounting: Week 1 Assignment 1 Corriene Power ACC202: Principles of Financial Accounting Mr. Babawale Alao January 27‚ 2011 10 – 1 Identifying Financial versus managerial accounting characteristics a. Managerial Accounting b. Financial accounting c. Managerial Accounting d. Financial accounting e. Managerial Accounting f. Financial Accounting g. Financial accounting h. Managerial accounting i. Financial Accounting j. Managerial accounting
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CHAPTER 1: EXERCISE 1-5 Asset Cash Equipment Supplies Accounts receivable Liability Accounts payable Notes payable Salaries and wages payable Stockholders’ Equity Common stock EXERCISE 1-6 1. 2. 3. 4. 5. 6. 7. 8. 9. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’ equity. Increase in assets and increase in liabilities. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’
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MEMO To: Manager of Newman Title Inc. From: Date: 12 September 2011 Re: SEC investigation and Resignation of CFO The purpose of this memo is to provide Newman Title Inc. manager‚ about the investigation from U.S. Securities and Exchange Commission (SEC) regarding Newman Title’s accounting practice of revenue recognition‚ and the impact of CFO’s resignation for the company its share market. Legally we are required to comply with the request of the SEC and give the SEC the invoices and
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Solutions Guide: Please do not present as your own. This is only meant as a solutions guide for you to answer the problem on your own. I recommend doing this with any content you buy online whether from me or from someone else. BYP13-4 The Coca-Cola Company and PepsiCo‚ Inc. provide refreshments to every corner of the world. Selected data from the 2004 consolidated financial statements for The Coca-Cola Company and for PepsiCo‚ Inc.‚ are presented here (in millions).Coca-Cola PepsiCoTotal
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Before Chrysler merged to become DaimierChrysler AG‚ they were presented with a takeover bid of $55 per share by MGM billionaire Kirk Kerkorian and former Chrysler chairman Lee Iacocca. Kirk Kerkorian was a stockholder in Chrysler and an experienced takeover financier who apparently found Chrysler to be a good buy. Chrysler rejected the offer‚ however‚ stating that the firm was not for sale. Further‚ many Wall Street experts felt that Kerkorian could not come up with the $20 billion necessary to
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Accounting 306 Exam 1 Notes Full Disclosure Principle – Calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader. Illustration 24-1: Financial Statements – Balance Sheet‚ Income Statement‚ Statement of Cash flows‚ and statement of changes in stockholders’ equity. Notes to financial statements – Accounting policies‚ contingencies‚ inventory methods‚ number of shares of stock outstanding‚ alternative measures. Supplementary Information
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Kimmel‚ P. D.‚ Weygandt‚ J. J.‚ & Kieso‚ D. E. (2007). Financial accounting: Tools for business decision making (4th ed.). Hoboken‚ NJ: John Wiley & Sons. Vietz‚ Osmond. Weaknesses in an Internal Audit Control System. (2012).http://www.smallbusiness.chron.com/weaknesses-internal-audit-control-system-3810.html Williams‚ J. R.‚ Haka‚ S. F.‚ & Bettner‚ M. S. (2005). Financial & managerial accounting: The basis for business decisions (13th ed.). New York‚ NY: McGraw-Hill Companies.
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401 games Executive Summary (One page‚ single spaced – do last) Background The market for board games has seen annual increases of 10-20 per cent over the last decade‚ leading some to suggest we are in a “board game renaissance” (Carlson‚ 2013). 401 Games is a Toronto-based retailer of board games‚ card games‚ and collectibles which also provides on-site gaming space. A recognized early mover in the board game revolution‚ owner John Park was among the first to tap into the collectible gaming card
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Income Taxes (30% of operating income): Take operating income times .30: 270‚000*.30= 81‚000 Net income: Subtract operating income from income taxes: 270‚000-81‚000= 189‚000 balance of the business that will be sold in an equity financing depends on how much the owner has invested in the business and what a particular investment is worth at the moment of the financing. For instance‚ an entrepreneur that spend $600‚000 in the startup of the company will initially control every one of the shares
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