Chapter 4: Problems 4–4‚ 4–6‚ 4–10‚ and 4–11 3–9. Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30‚ 2011. The budget provides for estimated revenues of $2‚700‚000 as follows: property taxes‚ $1‚900‚000; licenses and permits‚ $350‚000; fines and forfeits‚ $250‚000; and intergovernmental (state grants)‚ $200‚000. The budget approved appropriations of $2‚650‚000 as follows: General
Premium Income tax Tax Taxation
ACCT505 Part B Capital Budgeting problem Data: Cost of new equipment Expected life of equipment in years Disposal value in 5 years Life production - number of cans Annual production or purchase needs Initial training costs Number of workers needed Annual hours to be worked per employee Earnings per hour for employees Annual health benefits per employee Other annual benefits per employee-% of wages Cost of raw materials per can Other variable production costs per can Costs to purchase cans - per can
Premium Net present value Cash flow Internal rate of return
Intermediate Accounting 1 Exam 1 Spring 2010 1. What are the statements of financial accounting concepts (sfac) intended to establish? a. Generally accepted accounting principles in financial reporting by businesses. b. Generally accepted accounting principles for businesses‚ not for profit c. The objectives and concepts for use in developing standards of financial accounting and reporting. d. The hierarchy of sources of generally accepted accounting principles. 2. During
Premium Balance sheet Income statement Generally Accepted Accounting Principles
2010 2009 Current Assets: Cash $ 9‚000 $ ? Accounts Receivable 14‚000 18‚000 Inventory 23‚000 20‚000 Total Current Assets 46‚000 45‚000 Fixed Assets 73‚000 66‚000 Less: Accum. Depreciation (28‚000) (26‚000) TOTAL ASSETS $ 91‚000 $ 85‚000 Current Liabilities: Accounts Payable $ 11‚000 $ 6‚000 Wages Payable 3‚000 4‚000 Income Tax Payable 5‚000 4‚500 Total Current Liabilities 19‚000 14‚500 Long Term Bonds Payable 20‚000 23‚000 TOTAL
Premium Generally Accepted Accounting Principles Balance sheet Asset
CH 1 | 1 CORRECT | | Managerial accounting is concerned with: | | | A) | reporting financial information to stockholders. | | | B) | reporting financial information to regulators. | | | C) | providing information for use within the organization. | | | D) | the financial consequences of past activities. | | | | | | Feedback:The correct answer is C: Managerial accounting is concerned with providing information to managers for use within the organization. | | 2
Premium Costs Variable cost Fixed cost
(1) Which of the following statement (s) is/are true? [pic]A)[pic]A manufacturer of paper would ordinarily use process costing rather than job-order costing. [pic]B)[pic]If a company uses a process costing system it accumulates costs by processing department rather than by job. [pic]C)[pic]The output of a processing department must be homogeneous in order to use process costing. [pic]D)[pic]All of the above are true statements. Feedback: The correct answer is D (Learning Objective 1):
Premium Manufacturing Cost Critical thinking
Vaneza Fadonougbo Professor Strickland Liberty University GRST 500 Practice 7.3 To identify and evaluate why a new venture would be less successful . What are the causes behind the chances of failure of a new enterprise? To explore what are the advantaged for the entrepreneur in the retail industry . To suggest the role of innovativeness in a success of the retail firm . To analysis the characteristics that would allow a retailer to use knowledge resources and convert
Premium Management Marketing Economics
Grading Summary These are the automatically computed results of your exam. Grades for essay questions‚ and comments from your instructor‚ are in the "Details" section below. Date Taken: 1/16/2015 Time Spent: 1 h ‚ 45 min ‚ 15 secs Points Received: 73 / 90 (81.1%) Question Type: # Of Questions: # Correct: Multiple Choice 6 3 Essay 4 N/A Grade Details - All Questions Page: 1 2 Question 1. Question : (TCO F) Computing unit product costs involves averaging in Job-Order Costing
Premium Inventory Supply chain management terms Costs
1. | Question : | (TCO F) Assume there is no beginning work in process inventory and the ending work in process inventory is 100% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is: | Student Answer: The same as the number of units put into production. | 2. | Question : | (TCO F) Process costing would be appropriate for each of the following except: | Student Answer: custom furniture
Premium Inventory Supply chain management terms Manufacturing
ch5 Key 1. On November 8‚ 2009‚ Power Corp. sold land to Wood Co.‚ its wholly owned subsidiary. The land cost $61‚500 and was sold to Wood for $89‚000. From the perspective of the combination‚ when is the gain on the sale of the land realized? A. Proportionately over a designated period of years B. When Wood Co. sells the land to a third party C. No gain can be recognized D. As Wood uses the land E. When Wood Co. begins using the land productively Difficulty: Easy Hoyle - Chapter 05 #1 2. Edgar
Premium Inventory Subsidiary Balance sheet