expected profit margins and also the overall profitability has declined * Some of the operational problems have aroused due to introduction of Red coloured pens which required more changeovers from the existing process * All plants indirect expenses were aggregated at the plant level and allocated to products based on their direct labour content. The above mentioned problems are important especially because company wants to introduce some new range of products so without knowing the causes
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transactions at the moment it occurs. When the business performs a service‚ a sale‚ or earns an expense the accountant records the transactions. It also records if the transaction receives or pays no cash. AccountingCoach.com (2011) website states the following: 1. Revenues are reported on the income statement when they are earned— which often occurs before the cash is received from the customers. 2. Expenses are reported on the income statement in the period when they occur or when they expire—which
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additional cost. We will first look at the accounting for such a policy within a start-up company and then extend our discussion to warranties issued by Apple when they sell hardware. Finally we will ask you to recommend an estimation procedure and expense amount for the start-up company and to support your recommendation with both business and ethical reasons. The Entrepreneurs Ying Tsi and Daphne Cohen‚ as electrical engineers in a master’s program‚ co-developed a new wireless audio speaker system
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Chapter 3 Analyzing Bank Performance 1. Which of the following is not a characteristic of a typical commercial bank? a. Most banks own few fixed assets. b. Most banks have a high degree of operating leverage. c. Most banks have few fixed costs. d. Many bank liabilities are payable on demand. e. Banks generally operate with less equity capital than non-financial firms. Answer: b 2. Bank assets fall into each of the following categories except: a. loans. b.
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7 Ways to Reduce Cost August 7‚ 2007 By Ron Pereira 4 Comments I finished the book Gemba Kaizen by Masaaki Imai. It was quite good and I highly recommend it. It is chalk full of excellent tips like 7 ways to reduce costs in gemba (as Mr. Imai phrases it). They are: 1. Improve Quality: Imai stresses how good quality is a prerequisite to making lean work. He even speaks about things like control charts which you don’t find mentioned in many lean books. 2. Improve Productivity: Productivity
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Dr Cr Dr Cr Inventory Accounts Payable Accounts Receivable Sales COGS Inventory Cash Accounts Receivable Accounts Payable Cash Misc. Expenses Cash Salaries Expense Cash Depreciation Expense Accumulated Depreciation Long-‐term loan Cash $ 8 250 11 000 7 700 19 000 11 000 1 500
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Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity account is decreased by a debit [2]BASIC BANK02 - BAT 010 The Income Summary account contains: A. Total revenues and total expenses for the year B. Total assets and total liabilities at year end C. Total revenues‚ expenses‚ assets‚ and liabilities at year end D. Total revenues and assets at year end Bookkeeper
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value added tax were significantly lower. Our selling expenses did not have any large variances‚ showing that they were all near the projected numbers. Advertising Expense‚ Sales Salaries‚ Sales Commissions‚ and sales office depreciation were near what was expected and showed a barely noticeable variation from the expected forecasted results. The only two mentionable selling expenses are the General Selling expense and transportation expense due to their minor but noticeable variances of positive
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Bank service charge (27.50) Adjusted balance‚ 12-31-13 $ 108‚309.00 $ 108‚309.00 Journal Entry‚ 12-31-13 Account No. Debit Credit 41000 Other operating expense $27.50 10100 Cash $27.50 WAREN SPORTS SUPPLY‚ YEAR-END WORKSHEET‚ DECEMBER 31‚ 2013 Student Name________________________________________________ TRANSACTIONS LIST A Instructor_______________________Date
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|Sales | |Less Operating expenses |Less Cost of merchandise sold | |=Net income |=Gross Profit | | |Less Operating expenses | |
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