E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011. 1. Paid $5‚000 of accrued taxes at time plant site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17‚500 for parking lots and driveways on new plant site. 5. Paid $250 to have company name and advertising slogan painted on new
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assets Z: desired profit rate MR=P/ (1+1/Z) if firm is maximizing profit: MC=MR=P/ (1+1/Z) P= MC* [1/ (1+ 1/Z)] So profit maximizing price is a mark up on marginal cost depending on demand elasticity. If AC closes to MC‚ then close to max. 2. The potential problem of cost plus pricing is that the supplying division may have the opportunity to pass on operating inefficiencies to the purchasing division in
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In the file ACC 291 Week 2 Discussion Question 2 there are right answers on the following questions: "What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? What does your Annual Report say about unearned revenue?" Business - Accounting ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment Includes: Week 4 Chapter 13 practice quiz 1 Week 4 Chapter 14 Practice
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Tootsie Roll Industries Inc. Loan Package ACC/561 - Accounting August 15‚ 2011 Tootsie Roll Industries Inc. Loan Package Since the company’s establishment in 1896‚ Tootsie Roll Industries Inc. has expanded to become one of the biggest candy companies in the United States. Tootsie Roll Industries Inc. is one of America’s most recognized candy companies through manufacturing and selling some of the most popular candies in the world. The company has an extensive amount of products sold in
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|You are an Entrepreneur ! | An international education company which send students to the U.S.A from Turkey. The exact definition of the company is based on Summer Work And Travel program. Let’s find the definition out with the help of 5W1H questions. WHO Participants of the program need to be a student who is/has: ages between 18-30; a full-time student of any university‚ a GPA 2.0/4.0‚ Sufficiently proficient
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the period in which the sale was made. There are three essential accounting features to the allowance method: 1. Uncollected debt for accounts receivable are matched against revenues within the same accounting period in which they are recorded. 2. Estimated uncollected debt are debited to bad debts expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period. 3. Allowance for Doubtful Accounts are actually debited and credited to accounts receivable
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the average wait time b.2. Find the median of the times. The median is defined as the midpoint of all of the values after they have been ordered from smallest to largest‚ or largest to smallest. - 23‚24‚24‚25‚27‚27‚28‚28‚28‚29‚34‚37‚39‚40‚44‚44‚45‚50‚51‚56‚61‚61‚64‚65‚67 - The median of the wait times is 39 minutes. c. Find the range of the times. Range is defined as the difference between the largest and the smallest values in the data set. QNT 561 – Week 1 Problem Set
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Sarah GunsetACCT 325 Phase 2 IP-2Jason Cade July 21‚ 14 Ethics plays such an important role in the business world. There are organizations and boards that set guidelines specifically to improve the work environment and help control the amount of ethical dilemmas. The SEC works as the head quarters for these boards and has developed many new guidelines since the crisis of the early 2000’s. The International Ethics Standards Board for Accountants (IESBA) has established ethical standards and
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Week 2 Homework 4-8 |Under SEC rules‚ your close family members include your spouse (or equivalent) and dependents and your parents‚ nondependent | |children‚ and siblings. If you are a covered person‚ your independence is affected if your close family member has an accounting | |role or financial reporting oversight role with the SEC Audit Client (for example‚ the family member is a treasurer‚ CFO‚ | |accounting supervisor‚ or controller) or owns more than 5 percent of a client’s
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WileyPLUS Assignment: Week 1 Practice Quiz Resource: WileyPLUS Complete the Week 1 Practice Quiz in WileyPLUS Multiple Choice Question 41 The proprietorship form of business organization must have at least two owners in most states. is classified as a separate legal entity. combines the records of the business with the personal records of the owner. generally receives favorable tax treatment relative to a corporation. Multiple Choice Question
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