This work of ACC 460 Week 4 DQs consists of: DQ1: 1. What financial statements are required of not-for-profit organizations? 2. How are they different or comparable to those provided by organizations that operate for profit? 3. How does the retained earnings section of for-profit organizations differ from that of the net assets section of not-for-profits? DQ2: 1. What are the three classifications of net assets established by FASB Statement 117? 2. How are these
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U1-40 (30 min) Benefit-cost analysis—add a project a. and b. | Income Statement | New contract changes | Dollar impact of new contract | Income with new contract | Sales revenue | $ 1‚500‚000 | $ 200‚000 | $ 200‚000 | $ 1‚700‚000 | Costs | | | | | Labor | 700‚000 | 175‚000 | 175‚000 | 875‚000 | Equipment lease | 104‚000 | 12% | 12‚480 | 116‚480 | Rent | 120‚000 |
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Table of Contents Question Descriptions Page Question 1 Multiple Choice Questions 4 Question 2 Absorption costing and standard costing Use the information provided below to prepare the Budgeted Income Statement for the year ended 30 June 2013 using the absorption costing method 2.2.1 Calculate the direct labour efficiency variance 2.2.2 Explain 2 possible causes of an unfavourable direct labour efficiency variance 5 Question 3.1 Question 3.2 Question 3.3 Question 3.4
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doctors office (1) G. Utilities for the corporate offices of a toy manufacturer (2) H. Line supervisors salary for a clothing manufacturing firm (2) I. Training seminar for sales staff of a service firm (N/A) J. Fuel used in a trucking firm (1) K. Paper used at a printing business (1) L. Oil for machinery at a plastics manufacturing firm (1) M. Food used at a restaurant (1) N. Windshields used for a car manufacturer
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The file of ACC 421 Week 4 Discussion Questions comprises: DQ1: What does the statement of cash flows tell you about a company? Why is the statement of cash flows important? Can a company have profits but no cash? Why or Why not? DQ2: What is included in each section of the statement of cash flows? What does each section tell you about the company? Which of the three classifications of activities included on a statement of cash flows is the most important? Why? Business
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process of associating income tax effects with the income statement components that create those effects. True False 3. Material restructuring costs are reported as an element of income from continuing operations. True False 4. Earnings quality refers to the ability of reported earnings (income) to predict future earnings. True False 5. Gains‚ but not losses‚ from discontinued operations must be separately reported in an income statement. True False
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MTT (Set 5 with answer) 1) The following is selected information from the records of Ray‚ Inc.: Purchases of raw materials $ 6‚000 Raw materials‚ beginning 500 Raw materials‚ ending 800 Work-in-process‚ beginning 0 Work-in-process‚ ending 0 Cost of goods sold 12‚000 Finished goods‚ beginning 1‚200 Finished goods‚ ending 1‚400 What is the total amount of conversion costs? a. $5‚500 b. $5‚900 c. $6‚100 d. $6‚500 ANSWER: Choice "d" is correct. Conversion costs (labor and overhead)
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Guillermo Furniture Store Analysis University of Phoenix ACC 561 July 2011 Guillermo Furniture Store Analysis This document presents the major components of a budget that includes the risks associated with sales forecasts‚ and an analysis of ethical considerations in the preparation and subsequent use of the budget. Consideration is given for the requirements of the organizations code of ethics in the use of any performance tools. Major Budget Components A master budget
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DQ#1 - What are some of the software suites and business application software packages that you have experience using? What are some of the features of the applications in those suites and packages? How is information generated in the individual programs stored? O’Brien and Marakas indicated that “the major uses of information systems for the operations‚ management‚ and competitive advantage of a business” (O ’Brien & Marakas‚ 2008‚ p. 8). The software suite that I use on a daily bases and that
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P2-6B Condensed balance sheet and income statement data for Fellenz Corporation are presented below. FELLENZ CORPORATION Balance Sheets December 31 Assets 2012 2011 Cash $40‚000 $24‚000 Receivables (net) 90‚000 55‚000 Other current assets 74‚000 73‚000 Long-term investments 78‚000 60‚000 Plant and equipment (net) 520‚000 407‚000 Total assets $802‚000 $619‚000 Liabilities and
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