period cost? A. Legal costs. B. Public relations costs. C. Sales commissions. D. Wages of assembly-line workers. E. The salary of a company’s chief financial officer (CFO). 6. The accounting records of Reynolds Corporation revealed the following selected costs: Sales commissions‚ $65‚000; plant supervision‚ $190‚000; and administrative expenses‚ $185‚000. Reynolds’s period costs total: A. $250‚000. B. $440‚000. C. $375‚000. D. $255‚000. E. $185‚000. 7. Yang Corporation recently computed total product
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Zeiber’s 2014 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales‚ depreciation to fixed assets‚ cash to sales‚ accounts receivable to sales‚ and inventories to sales will be the same in 2014 as in 2013. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year . (5) No interest is
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New Balance Situation Analysis New Balance International was founded during the early 1990s specializing in orthopedic footware to improve the fit of their shoes. Today the company continues its founding values in a highly specialized niche business of providing athletic footware in a wide range of widths and sizes which distinguishes the product from its competitors. With the philosophy of “one size did not fit all‚” New Balance expanded operation from the US and currently markets its
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improve some of the internal controls over its revenue cycle procedures. Existence or Occurrence From Bradmark’s data files on sales invoices‚ cash receipts and list of customers‚ the ACL software was used to compute and determine the Accounts Receivable balances of customers in the books. January 20‚ 2005 United City 920 4 th Street Bridgewater‚ New Jersey 8807 Dear Sir/Madam‚ In connection with an examination of our financial statements by Ross & Specter Co.‚ Certified Public Accountants
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PROBLEMS 1. Table 3.3 shows the December 31‚ 2009 pro- forma balance sheet and income statements for R& E Supplies‚ Inc. The pro- forma balance sheet shows that R& E Supplies will need external funding from the bank of $ 1.4 million. However‚ they show $ 1.27 million in cash and short- term securities. Why are they going to the bank when they have most of the required amount in their cash account? 2. Pro forma financial statements‚ by definition‚ are predictions of a company’s financial statements
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two accounted‚ types of Accounts‚ Debited/Credited & Reason for Debit or Credit. 1) Mehta started business with Rs. 8000. 2) Purchased goods for cash Rs. 2800. 3) Purchased furniture from Godrej Company Rs. 1000 for cash. 4) Sold goods to Babubhai on credit Rs. 700. 5) Paid for postage stamps purchased Rs. 30. 6) Sold goods to Nanabhai for cash Rs. 400. 7) Paid to Navakal Rs. 500 for Advertisement. 8) Paid to Kishanchand for salary Rs. 1000. 9) Paid into Bank account Rs. 2500. 10) Withdraw
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Balance Lab of a Copper Slug and Sodium Chloride (NaCl) on a Centigram and Electronic Scale PURPOSE/INTRODUCTION The purpose of this experiment is to learn how to weigh a substance on a centigram scale and an electronic scale through direct weight or by weight difference. The hypothesis is that all scales used should show the same weight for a given sample. The experiment should show precision and accuracy of the equipment being used. This will allow a better understanding on how to properly
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Presentation reflective account Introduction I shall analyse my presentation‚ commenting on: • where I used my skills well; • my understanding of adaptations within my role; and • areas for improvement. Knowledge and understanding As feedback noted‚ I included a good level of information on my chosen client‚ (representing the diverse group - Older Adults). I presented knowledge and understanding on how I worked collaboratively to address barriers. My presentation highlighted
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The Income Statement accounts (with normal account balances) from the Adjusted Trial Balance of MJM Co. at 12/31/08 is as follows: Sales 1‚500‚000 Cost of Goods Sold 600‚000 Selling Administrative Expense 300‚000 Interest Revenue 180‚000 Gain on the Sale of Equipment 270‚000 Loss on the Sale of IBM Stock 300‚000 Loss from Discontinued Division Operations 750‚000 Gain on the Sale of the Discontinued Division 900‚000 Extraordinary Gain from Tornado Insurance 1‚050‚000 Income Tax Expense (at 30% Rate)
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over 60 incrreased their out-of-home coffee consumption from 14 to 20 percent. Another key factor is the at-work coffee consumption rate‚ and the fact that most workers no longer purchase/make their coffee at work. 4. What strategic factors account for Starbucks’ long-term success in building brand equity? First of all‚ Starbucks does not discount any of its products or offer any promotional or sale prices. This maintains brand equity by emphazising the "quality" of the product. While
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