Solutions to Exercise” in Financial Accounting for Management by Ramachandran & Kakani Authored by Ram Kumar Kakani‚ “Copyright with Tata McGraw Hill Education Private Limited‚ 2011” CHAPTER 2 Balance Sheet Note: Answers to only half the questions have been provided. It gives you an opportunity to work on the rest problems and discuss about the relevant solutions. You are requested to complete this chapter before attempting the questions. MULTIPLE CHOICE QUESTIONS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11
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EXERCISES FOR MICROECONOMICS TOPIC 1 Economics: An Introduction (Chapters 1 & 2 in the Textbook) EXPLAIN THE FOLLOWINGTERMS ◎ Average benefit ◎ Average cost ◎ Economic surplus ◎ Economics ◎ Microeconomics ◎ Macroeconomics ◎ Marginal benefit ◎ Marginal cost ◎ Normative economics ◎ Positive economics ◎ Rational person ◎ Sunk cost ◎ Opportunity cost ◎ Absolute advantage ◎ Comparative advantage ◎ Attainable point ◎ Unattainable point ◎ Efficient point ◎ Inefficient
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Week Three Exercise Assignment Inventory 1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. Painting Cost 1/2 Beginning inventory Woods $21‚000 4/19 Purchase Sunset 21‚800 6/7 Purchase Earth 31‚200 12/16 Purchase Moon 4‚000 Woods and Moon were sold during the year for a total of $35
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Log on to the web site for the Centers for Disease Control Flu site. http://www.cdc.gov/flu/ On the right side of the page of‚ there is a USA map. Click on the USA maps to answer the following questions. List a few states that currently have only local activity? District of Columbia and Alaska What states if any have widespread activity? Widespread influenza activity was reported by Guam and 46 states (Arizona‚ Arkansas‚ California‚ Colorado‚ Connecticut‚ Delaware‚ Florida‚ Idaho‚ Illinois
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COST SHEET – FORMAT |Particulars |Amount |Amount | |Opening Stock of Raw Material | *** | | |Add: Purchase of Raw materials |*** | | |Add: Purchase Expenses
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Case #06CVD1620-2 Modification This document shall serve as a Modification of the above mention divorce decree‚ agreeable by both parents: Kristen D. Lord (Mother) and Brian L. Lord (Father) concerning the residency and visitation of their two minor daughters; Sierra F. Lord (age 14) and Savannah G. Lord (age 12). Residency Both parents agree that Sierra F. Lord shall reside with her mother for 9th‚ 10th‚ 11th‚ and 12th grade school years. Likewise it is agreed that Savannah G. Lord shall also
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The balance sheet‚ income statement and cash flow statement are closely related. Basically‚ a balance sheet describes a company’s assets‚ liabilities and stockholder’s equity in a specific period of time. An income statement mainly shows the net profits or loss of a company. The purpose of the income statement is to show stockholders and investors whether the company earned or lost money. A cash flow statement explains cash inflows and outflows. Each financial statement reveals a part of a company’s
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Product Identification Costing Sheet I have a dish of grilled lamb chops with tomatoes and olives‚ honey lime carrots‚ and roasted red potatoes with garlic and rosemary. After costing out every item in the recipe I got a subtotal of $104.56. Once I introduced a Q-factor of 3% into the costing‚ I came up with a subtotal with Q-factor of $107.70. My yield of the dishes is 10 plates‚ so taking the subtotal with a Q-factor and dividing it by 10‚ makes it $10.77 per dish‚ then add in a dollar for extra
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balance sheet‚ like a photo‚ provides a financial picture of a company on a given day and time. It categorizes all of a company’s resources as assets‚ all of its debts as liabilities‚ and all of the owner’s investments as equity. A company uses its assets‚ such as accounts receivable‚ inventory‚ and equipment‚ for manufacturing or purchasing products for sale or to provide a service. A company’s assets are financed by its liabilities (debt) and the owner’s equity (net worth). On a balance sheet‚ the
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Name: Laura Meng SID: 22430663 GSI: Johnathan Wright Section #112 Laboratory 0: “400 Years of the Telescope” The PBS documentary outlines our progressive journey in the field of astronomy and the resulted revolutionary discoveries from the continually improving technologies. The history of telescopes first began in the sixteen hundreds‚ when Hale’s invention of refracting telescopes drastically changed people’s view of the Universe at the time‚ for the view from the telescope revealed the
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