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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Solved Ans. Accounts CA IPCC Nov. 2010 1 Attention C.A. Pcc & Ipcc Students Ipcc_Nov.10 Solved Ans. Acc. Ipcc_Nov.10 Keep Watching our website* for further solution. *www.jainclassesonline.com (No.1 Institute of Jharkhand) C.A. CPT‚ PCC‚ IPCC & FINAL Solved Ans Prepared by : C.A Arvind Kumar Jain and Team Members (Disclaimer : Questions asked in the exam may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by institute may differ from
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term historical cost helps to distinguish an asset’s original cost from its replacement cost‚ current cost‚ or inflation-adjusted cost. For example‚ land purchased in 1992 at cost of $80‚000 and still owned by the buyer will be reported on the buyer’s balance sheet at its cost or historical cost of $80‚000 even though its current cost‚ replacement cost‚ and inflation-adjusted cost is much higher today. The cost principle or historical cost principle states that an asset should be reported at its cost
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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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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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Introduction to Control Accounts • Trade receivables are reported as a current asset and trade payables are reported as current liability in the balance sheet at the end of an accounting period. • It is important‚ therefore‚ that a business taken steps to ensure the accuracy of these figures. • One such step is the preparation of Control account to confirm that the total of the sales ledger balances and the total of the purchases ledger balances are accurate What is Control Account? • A control
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EXAMINATION SEMESTER II ACADEMIC SESSION 2012-2013 MASTER IN BUSINESS ADMINISTRATION EXECUTIVE APRIL 2013 DURATION: 3 HOUR COURSE CODE : ZCZA 6213 COURSE TITLE : ACCOUNTING FOR DECISION MAKING INSTRUCTIONS : 1. There are FOUR (4) questions. 2. Answer ALL questions in the provided answer booklet. 3. Total marks are 100. This paper consists of 6 printed pages excluding this cover page 0 QUESTION 1 (25 MARKS) La Diva Dress Shop produces custom
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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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SFU The Balance Scorecard Initiative BUS 322 – Written Case Miranda Zhang 7/29/2014 Executive Summary This report provides the analysis of case study given to me. Gail Palmer Ashton Graduate School of Business ranks among the top schools of USA but the dean of the institute feels that the school has deviated from its foundations. This analysis proposes implementation of the balanced scorecard and performance metrics in order to achieve the four strategic goals of the institution.
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