receivable amounted to $2‚300. Expenses incurred on account were $2‚100. Cash paid on accounts payable was $1‚950. Alpha’s net income was A) $2‚900 B) $3‚050 C) $350 D) $200 2. Hamilton Company began operations in 2009. During the year‚ the following cash transactions occurred: 1. issued stock for $40‚000 2. borrowed $20‚000 from bank 3. provided services to customers for $53‚000 cash 4. paid back $8‚000 of the loan from the bank 5. paid rent expense‚ $9‚000 6. purchased equipment
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costing i. Process costing t. Process costing j. Process costing u. Job costing k. Job costing 4-17 (20 min.) Actual costing‚ normal costing‚ accounting for manufacturing overhead. 1. = = = 1.80 or 185% = = = 1.9 or 190% 2. Costs of Job 626 under actual and normal costing follow: Actual Normal Costing Costing Direct materials $ 40‚000 $ 40‚000 Direct manufacturing labor costs 30‚000 30‚000 Manufacturing overhead costs $30‚000 1.90; $30‚000 1.80
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consists of the top manager and a few workers in the operative core. There is no techno-structure‚ and the support staff is small; workers perform overlapping tasks. An example of this structure is a local family restaurant called the Pioneer Resturant. 2. What kind of companies should use the machine bureaucracy form of structure? Uses elaborate work rules‚ considerable numbers of middle-line managers‚ and distinctive line and staff management configurations.” This structure would be best suited for
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Discussion Question #1 Singer argues that there is no moral justification for denying moral consideration to animals. Can you think of a reason why our moral consideration should include all humans regardless of their level of cognitive ability‚ yet denied to non-human animals simply because they have lower levels of cognitive abilities (though still higher in some cases than those of human infants and some mentally disabled humans)? What response might he have to your way of drawing the line between
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Date Taken: | 9/26/2012 | Time Spent: | 3 h ‚ 00 secs | Points Received: | 137 / 170 (80.6%) | | Question Type: | # Of Questions: | # Correct: | Multiple Choice | 25 | 18 | Short | 1 | N/A | Essay | 2 | N/A | | | Grade Details - All Questions | Page: | 1 2 3 | 1. | Question : | (TCO 1) Which of the following is not a difference between financial accounting and managerial accounting? | | | Student Answer: | | Financial accounting is primarily concerned with
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Essentials of Accounting Week 5 Assignment Chapter 9: E9-6 SY Telc has recently started the manufacture of RecRobo‚ a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost structure to manufacture 20‚000 RecRobo’s is as follows. Cost Direct materials ($40 per robot) $ 800‚000 Direct labor ($30 per robot) 600‚000 Variable overhead ($6 per robot) 120‚000 Allocated fixed overhead ($25 per robot) 500‚000 Total $2‚020
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Categorize the accounting tasks performed by Urlacher as relating to either the identification (I)‚ recording (R)‚ or communication (C) aspects of accounting. E1-2 (a) The following are users of financial statements. ___I___Customers __I___Securities and Exchange Commission ___C__Internal Revenue Service __C__Store manager ___I___Labor unions __R__Suppliers ___C__Marketing manager __C_ Vice-president
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470-10 is not applicable in this situation. Product “X” is undeveloped and the status is undetermined‚ therefore‚ payments are not guaranteed through the future revenues of this particular product (ASC 470-10-25-1). Further‚ based on ASC 470-10-25-2‚ these factors do not apply in this case to qualify as a debt. However‚ the facts below would show why it is more appropriate to account for the financing of the research and development for product “X”‚ under ASC 730-20: 1. The main reason behind
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reported periodically or as needed by management and can be reported for the entire entity or for segments of the organization. 2. a. A line department is directly involved in the basic objectives of the organization‚ while a staff department provides service‚ assistance‚ or advice to line departments or other staff departments. b. (1) Sales Department (2) Personnel Department 3. Direct materials cost 4. Prime costs are the combination of direct materials and direct labor costs
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addresses the issues related to accounting for income taxes. Taxable income is computed in accordance with prescribed tax regulations and rules‚ whereas accounting income is measured in accordance with generally accepted accounting principles. 2. (S.O. 1) Due to the fact that tax regulations and generally accepted accounting principles differ in many ways‚ taxable income and financial income frequently differ. The following represent examples of events that can result in such differences: (a)
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