and cost of goods sold 1. Specific Identification 2. First-in‚ first-out 3. Last-in‚ first-out 4. Weighted average Goods in Transit: If goods are shipped FOB shipping point‚ then the purchaser is responsible for paying freight charges and the seller will not include the merchandise in their inventory. Steps to apply LCM to individual items of inventory: 1. List the number of units of each product 2. List the cost of each item 3. List the market price of each item 4. Compute total cost and total market
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13. In June an investor purchased 300 shares of Oracle (an information technology company) stock at $20 per share. In August she purchased an additional 400 shares at $25 per share. In November she purchased an additional 400 shares‚ but the stock declined to $23 per share. What is the weighted mean price per share?(10%) ANS: $22.91‚ found by 14. The Bookstall‚ Inc.‚ is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each‚ and hardcover books are
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sales‚ earnings in 1997 is inflated. Requirement 2 A customer would probably not be expected to pay for goods purchased using this bill and hold strategy until the goods were actually received. Receivables would therefore increase. Requirement 3 Sales that would normally have been recorded in 1998 were recorded in 1997. This bill and hold strategy shifted sales revenue and therefore earnings from 1998 to 1997. Requirement 4 Earnings quality refers to the ability of reported earnings (income)
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given level of output by affecting the size and timing of customer orders. The production department can stimulate sales by improving quality and making new products available to sales personnel. Other departments within the firm--for example‚ accounting‚ personnel‚ transportation‚ and engineering--provide information or services vital to both continued sales growth and cost control. These activities all affect the risks of the firm and thereby the discount rate used to determine present values
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Go to Kubasek‚ Chapter 13‚ page 369‚ problem 13-16. Use LexisNexis in the Keller library and look up the Nadel et al. v. Burger King Corp. & Emil‚ Inc. case. Use the citation you find in your book to do the search. Read the case and answer these questions. Copy and paste this information into a Word document‚ include your name on that document‚ and answer the questions. 1. What must a party establish to prevail on a motion for summary judgment? (3 points) In order to prevail on a motion for summary
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Homework 11 1. Retailers and wholesalers add value to the marketing system because they offer something that consumers want and not just in small stores but in big stores such as Costco and wal-mart. Retailing is good because it offers individuals a small amount of goods for their own personal use. Wholesale is good for companies and big families because it offers them with more product for a cheaper price. This can only benefit small and big business because they are offering goods to all consumers
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Chapter 4 Questions 1. Explain why you would be more or less willing to buy a share of Polaroid stock in the following situations: a. Your wealth falls. Less willing because your wealth falls b. You expect it to appreciate in value. More because its relative expected value increases c. The bond market becomes more liquid. Less because it becomes less liquid relative to bonds d. Prices in the bond market become more volatile. More because it becomes less risky relative to bonds. 2. Explain why you
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________________________ Class: ___________________ Date: __________ ID: A Chapter 04 True/False Indicate whether the statement is true or false. ____ 1. Section 351 (which permits transfers to controlled corporations to be tax deferred) can be justified under the wherewithal to pay concept. ____ 2. Similar to like-kind exchanges‚ the receipt of “boot” under § 351 can cause loss to be recognized. ____ 3. Tina incorporates her sole proprietorship with assets having a fair market
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Petrina Barkley IP 2 Managerial Accounting Karina KasztelnikAmerican Intercontinental University On-line Consider the following scenario: Andre has asked you to evaluate his business‚ Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year‚ regardless of the number of haircuts. Rent and other fixed expenses are $1‚750 per month. Hair shampoo used on all clients is $0.40 per client
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and Compute (Use 365 days a year. Round your how much the buyer saved by following this strategy. intermediate calculations and final answerto 2 decimalplaces.Omit the "$" sign in your response.) Buyer’snet savings Explanation. 1. " $:f / /o^oi) http:II ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx 02106112 Assignment Print View CashPayment: payable period. Paid account within discount 2% 3. Amount borrowed paywithdiscount $ 20‚580 to x 11o/o Annual of interest
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