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Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.
Product JB 50
Product JB 60
An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $663,800 for product JB 50 and $363,600 for product JB 60, and administrative expenses of $544,300 for product JB 50 and $343,100 for product JB 60. Income taxes are expected to be 30%.
Prepare the income statement budgets for the year.
on january 2 20x7 brian rein invested 10000 in the stock market and purchased 500 shares of heartland development inc.
Our book distribution division sells to national bookstores. Our division allows for up to 25% of sales in returns. For the past 4 years, returns have averaged 20%. We record revenue based on revenue recognition when the right of return exists.
What are four safeguards that the ERISA legislation specified to address the many obstacles employees faced with pension plan funding? How did the Pension Protection Act add additional requirements to the protection of these plans?
For each factor identified, briefly discuss the importance of the item to the overall account estimate. For example, how important is the interest rate assumption to the overall estimate of the pension liability.
The postcard will include information about the store's typical inventory, store hours, and directions. Which of the following format elements can make the biggest difference in the success or failure of the direct mailing?
objectives to apply certain steps in the audit planning process with emphasis on risk identification and audit response
Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
marin company is currently producing 16800 units per month which is 77 of its production capacity. variable
Battle Tank, Inc. had net sales in 2004 of $1,200,000. At December 31, 2004, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,100 credit.
1.a company had sales of 699000 and cost of goods sold of 280000. its gross profit
The information below relates to Milton Company's trading securities in 2010 and 2011. (a) Prepare the journal entries for the following transactions.
The ability to add ghost employees to a company's payroll system is often the result of a breakdown in internal controls. What internal controls prevent an individual from adding fictitious employees to payroll records?
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