Accounting Notes Part 2 Frank Wood ~ Chapter 14 Sales Day Book and Sales Ledger. Folio reference from day book to sales ledger (personal accounts of debtors) SL …. > no. of a/c of debtor ------------------------------------------------- Sales Date Detail Inv. No Folio | Amount SL | SL | | | Transfer to Sales Accounts GL | 3520 ^^^ Total credit sales Posted
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ACC 434 final exams http://www.finalexamguideline.com/main.sc 1. (TCO 1) A significant limitation of activity-based costing is the (Points: 5) A). attention given to indirect cost allocation. B). many necessary calculations. C). operations staff ’s attitude toward the accounting staff. D). use it makes of technology. 2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180‚000. The budgeted number of nozzles
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WwW.DiorBoy.Com All Rights for Abdulmohsen 3- calculate breakeven point ? PROBLEM 8-35 Surreal Sound‚ Inc. manufactures and sells compact disks. Price and cost data are as follows: Selling price per unit (package of two CDs) $ 25.00 Variable Costs per unit: Direct Materials $ 8.20 Direct Labour 4.00 Manufacturing Overheads 6.00 Selling Expenses 1.60 Total Variable Costs per Unit $19.80 Annual Fixed Costs Manufacturing Overheads $288‚000 Selling
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ACC/422 final exams http://www.finalexamguideline.com/main.sc 1) Which of the following is NOT considered cash for financial reporting purposes? 2) What is the preferable presentation of accounts receivable from officers‚ employees‚ or affiliated companies on a balance sheet? 3) Which of the following is considered cash? 4) If a company employs the gross method of recording accounts receivable from customers‚ then sales discounts taken should be reported
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Reorganization and Troubled Debt Restructuring 135 CHAPTER 8 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 8-1: a Trade accounts payable (P52‚000 + P62‚700) P114‚700 12% preferred stock (5‚000 x P1) P 5‚000 Paid in capital in excess of par (5‚000 x P9) 45‚000 Cash (P62‚700 x P0.80) _50‚160 _100‚160 Gain from discharge of indebtedness P 14‚540 8-2: c 8-3: c 8-4: b Carrying value of the
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ACC 307: Cost Accounting Fall 2012 Practice Exam II I. TRUE / FALSE 1. A budget generally includes both financial and nonfinancial aspects of the plan. 2. The revenues budget should be based on the production budget. 3. A favorable variance should be ignored by management. 4. The direct manufacturing labor price variance is likely to be unfavorable if lower-skilled workers are put on a job. 5. For fixed overhead costs‚ the flexible-budget amount is always the same as the
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ACC 291 Final Exam Copy this link to your browser to download: http://www.finalexamguide.com/ACC-291-Final-Exam-1-3.htm 1. On January 1‚ a machine with a useful life of five years and a residual value of $40‚000 was purchased for $120‚000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? 2. As a recent graduate of State University you ’re aware that IFRS requires component depreciation for plant assets. A friend has asked you to succinctly
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References: 3. Deegan‚ 2009‚ Financial Accounting Theory‚ pp. 318-378 4
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operating and financial policies of B Co. This being said A Ltd. owns 45% interest in B Co and thus needs to account for that percentage of ownership appropriately using the proprietary model of consolidation. This will accurately and reliably reflect accounting information provided on the consolidate statements. 2. Q: A Ltd. holds no shares of B Co.; however‚ it holds convertible bonds issued by B Co. that‚ if A Ltd. converted them‚ would result in the ownership of 51 percent of the outstanding shares
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CLICK TO GET ANSWERS ACC 423 Final Exam Question 1: Buttercup Corporation issued 250 shares of $11 par value common stock for $4‚125. Prepare Buttercup’ journal entry. Question 2: Wilco Corporation has the following account balances at December 31‚ 2012. Common stock‚ $5 par value $511‚670 Treasury stock 95‚260 Retained earnings 2‚400‚840 Paid-in capital in excess of par 1‚320‚150 Prepare Wilco’s December 31‚ 2012‚ stockholders’ equity section Question 3: Woolford Inc. declared a cash dividend
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