CASE 4-33 ACCOUNTING | 15% Commission | 20% Commission | Own Sales Force @ 7.5% | Sales | $ 16‚000‚000 | 100% | $ 16‚000‚000 | 100% | $ 16‚000‚000 | 100% | Variable Expenses: | | | | | | | Manufacturing | $ 7‚200‚000 | | $ 7‚200‚000 | | $ 7‚200‚000 | | Commissions | $ 2‚400‚000 | | $ 3‚200‚000 | | $ 1‚200‚000 | | Total Variable Expenses | $ 9‚600‚000 | 60% | $ 10‚400‚000 | 65% | $ 8‚400‚000 | 52.5% | Contribution
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Which Technology Has Mostly Benefitted Our Society? Computers: they are the modern wonders of our world and consume our daily lives. Acting as one of the most remarkable innovations created over the past ten decades‚ the computer has revolutionized the modern world‚ digitizing it despite the public’s unappreciative attitude towards it. Nonetheless‚ the days of manually executing work have ended‚ and a fresh era of completing work is at large. At the click of a button‚ rocket machines are launched
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Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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Tolerance Tolerance is something that you are told on a daily basis but do you truly understand the meaning of the word? You probably don’t and the reason being that in the time since the enlightenment period the definition of tolerance has been warped. The official definition of tolerance is “willingness to accept feelings‚ habits‚ or beliefs that are different from your own” (Merriam Webster). However the modern unofficial definition of tolerance requires a person to not only accept someone’s idea
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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“certificate of achievement for excellence in financial reporting” by the Government Finance Officers Association? What is the significance of this award? Yes‚ it is significant because it is the highest form of recognition in the area of governmental accounting and financial reporting‚ and its attainment represents a significant accomplishment by a government and its management. (Page 13) b) What are the key issues addressed in the letter of transmittal? Major initiatives in the city of Charlotte
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Question 1 Use the data below to answer Parts (a) through (c). Show all calculations in your solutions. On January 1‚ 20X2‚ Haika Inc. purchased 60% of the outstanding voting shares of Selina Co. for $3‚000‚000. On that date‚ Selina’s shareholders’ equity consisted of retained earnings of $2‚000‚000 and ordinary shares of $1‚000‚000. Selina’s identifiable assets and liabilities had fair values that were equal to their carrying values on January 1‚ 20X2‚ except for the following: | Fair value
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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The Ancient Greek society ended over 2000 years ago‚ but even now its mythology continues to influence Western society. References to Greek Mythology are found in books‚ pieces of literature‚ television shows‚ and even video games. Even when the Roman Empire took over Ancient Greece‚ Rome still used and adopted the Greece mythologies (Jupiter as Zeus‚ Kronos as Saturn‚ etc.)‚ which influenced our society just as it did throughout history. Greek Mythology has several links to music‚ film‚ and religion
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The Butler County Performing and Visual Arts programs our community offers has truly changed the person I am today. Through the Butler County High School Band‚ I have learned how to play the flute and been doing so for eight years and been able to perform in the marching band as a color guard member for four years. It truly has been such a blessing to be in such an amazing program‚ and I am extremely thankful for the opportunities and friendships it has given me. I began playing the flute in 5th
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