data given in the case‚ her friend found a record of cash reciepts and disbursements‚ which is summarized in Exhibit 1. She also learned that all accounts payable were to vendors for purchase of merchandise inventory and that cost of sale was $39345 in June. 1. Prepare an income statement for June in proper format. Explain the derivation of each item on this statement‚ including cost of sales. 2. Explain why the change in the cash balance was greater than the net income. 3. Explain why the
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chapter 3 Exe# 6 In question direct labor hours is not given‚ we can find D.Labor hours through this formula Direct labor cost = 40000 = 6250 Hours Per D.Labor hours rate 6.40 1) Prime Cost (2) Conversion Cost Material opening 24000 Direct labor 40000 + purchase 56000 FOH Applied Material available for use 80000 6250 Hours@ 8 50000 - Material ending (20000) Conversion cost 90000 Material used 60000 + Direct labor 40000 Prime Cost 100000
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Running Head: Email Privacy. TUI‚ BUS301 Holly Walker Case Email Privacy Module #1 27 April 2012 Dr. Johnny Vanneste Today‚ social media has changed the world; the world revolves around a collection of digital footprints floating somewhere in cyberspace. So what happens to a digital footprint that has left behind after death? Who gets access to your digital footprints once death occurs? Websites have different policies on transitions of accounts in the event of
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maximum length of your response is 3 pages. If necessary an additional two page appendix can be added for items such as illustrations‚ journal entries‚ financial statement items or IFRS or ASPE Standards extracts. The appendix should not contain discussion or analysis. [That is‚ the overall limit is three pages + a two page appendix‚ if needed‚ for a total of 5 pages (single spaced‚ minimum 12 font)]. For the most part‚ the background needed to complete the cases is readily available in the text
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University of Dubuque School of Business BAC 241: Principles of Financial Accounting Homework Chapter 4: Completing Accounting Cycle Name: Due Thursday‚ October 04‚ 2012 in class 1. During 2013‚ Rumbo Corporation had cash and credit sales of $21‚760 and $15‚225‚ respectively. The company also collected accounts receivable of $9‚765 and incurred operating expenses of $27‚700‚ 80 percent of which were paid during the year. In addition‚ Rumbo paid $4‚500 for an 18-month advertising
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Lesson 03.01: History of the Periodic Table •Explain how scientific observations led to the development of‚ and changes to‚ the periodic table. -Dmitri Mendeleev- first periodic table‚ organized 63 known elements according to properties‚ organized into rows and columns and wrote name‚ mass‚ and chemical properties on each -Julius Lothar Meyer- independently worked in Germany‚ similar to Mendeleev -Henry Gwyn Jeffreys Moseley- Worked with Ernest Rutherford‚ experimented with 38 metals‚ he found
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The second challenge is how to test and put the data together with the existing information system to make them effective in a company ’s decision process. The most difficult challenge will be bringing the computer based data processing and the accounting system together to ensure the most beneficial decisions for a company. Question 1.2 The best combination of paradigms for the 21st century as Ferrara sees it is a combination of Paradigms C and D. This may even be amplified by adding
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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‚000. Determine the firm’s a. Cost of goods sold.
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Accounts Receivable: an amount due from another party two of the most common are: Accounts Receivable &Notes Receivable others are: interest receivable‚ rent receivable‚ tax refund receivable‚ and receivables from employees Accounts Receivable- are amounts due from customers for credit sales when a company does extend credit directly to customers it: 1. Maintains a separate account receivable for each customer 2. accounts for bad debts from credit sales Recognizing Accounts Receivable:
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com. OVERSTOCK.COM: UNUSUAL/CONFLICTING ACCOUNTING PRINCIPLES IMPACT Overstock.com has recently received negative publicity because of some decisions regarding GAAP‚ internal accounting policies and their relationship with external auditors that has caused the company to have to restate their published financial statements going back to 2008. In their 2010 10K report on page 19 it is stated that "We lacked a sufficient number of accounting professionals with the necessary knowledge‚ experience
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