period for the completed Job 713: Beginning balance $21‚500.00 Direct materials 30‚600 Direct labor 24‚500 Overhead applied 41‚700 Adjustment—overapplied overhead 1‚600 Total number of units produced 30‚000 Total number of units sold 28‚500 What is the unit cost for Job 713? Answer a. $3.89 b. $4.00 c. $3.94 d. $4.09 The balance in the Work in Process
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professional conduct is clear that an accountant should follow all the six principles so that a healthy work environment could be created in the interest of the company‚ society and nation. The second discussion is focused on evaluation of ethicality of accounting activities. Manipulating the financial statements for personal interest or for loyalty towards company or its executives is unethical and the person responsible for such act will be punishable. Misstatement of financial statements is ethically wrong
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There are many different moments that define someone’s life. The most significant moment might happen when you are 2 years old‚ or maybe when you are 70. I personally think this moment has yet to surface in my life. With that being said‚ the most salient moment in my life so far would have to be when I decided to sign up for the football team. One day I was relaxing at home after school when I heard about the weight training program the high school offered for football players. My friend encouraged
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The most significant challenge I have faced in my lifetime so far was and is my struggle with my health. I was in a very low point in my life where I was incredibly ill and daily life‚ including academically. My grades slipped and suffered along with several absences‚ I did poorly because not only did my affliction affect me physically‚ but also mentally damaged me. In example‚ I developed a stutter‚ loss of memory and short term memory loss‚ confusion and struggles with everyday simple tasks‚ this
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Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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Describe the most significant challenge you have faced and the steps you have taken to overcome this challenge. How has this challenge affected your academic achievement? The biggest and most important challenge I’ve ever had in my life was when I came to study a month ago to this country (United States). For me it is still a very big challenge why I am living alone with my aunt and sister and it is not the same confidence that you have with your parents‚ all my family stayed in Mexico why my
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is provided for general guidance only and on the understanding that it does not represent‚ and is not intended to be‚ advice. Whilst care has been taken in its preparation‚ it should not be used as a substitute for consultation with professional accounting‚ tax‚ legal or other advisors. Before making any decision or taking any action‚ you should consult with an appropriate specialist or professional. No warranty is given to the correctness of the information contained in this document‚ or its suitability
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ISSUES IN ACCOUNTING EDUCATION Vol. 26‚ No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case‚ two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP)‚ each manager makes different choices and estimates when applying GAAP. By preparing
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things from the past. CITATION Wil09 \l 17417 (Wild‚ Shaw‚ & Barbara‚ 2009) For example‚ APPLE Company bought equipment at the price of RM 10‚000 and after few months‚ the equipment is then estimated to drop in value. The cost of the purchase RM 10 000 would be recorded in the financial report because there is official receipt and documents supporting the value of the equipment. If the accountant want to estimate the lose in value of the equipment‚ the accountant should use the concept of depreciation
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Compendium of Accounting Standards (including Interpretations as on July 1‚ 2006) THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI COPYRIGHT © THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA All rights reserved. No part of this publication may be translated‚ reprinted or reproduced or utilised in any form either in whole or in part or by any electronic‚ mechanical or other means‚ including photocopying and recording‚ or in any information storage and retrieval system‚ without
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