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On Nov. 4, 2009, Blue company acquired an asset (27.5 year residential real property) for $200,000 for use in its business. In 2009 and 2010, respectively, Blue took $642 and $5,128 of cost recovery. These amounts were incorrect because Blue applied the wrong percentages (i.e. those for 39years rather than 27.5year). Blue should have taken $910 and $7,272 cost recovery in 2009 and 2010. On January 1, 2011, the asset was sold for $180,000. Calculate the gain or loss on the sale of the asset in 2011.
The estimated variable manufacturing overhead was $7.17 per labor hour and the estimated total fixed manufacturing overhead was $584,320. The actual labor hours for the year turned out to be 33,300.
Preparation of Balance sheet and computation of Retained Earnings - Capital stock was issued in exchange for $175,000 cash and business purchased equipment for $380,000, paying $180,000 cash and issuing a note payable for $200,000.
Evaluate the amount of gross profit or loss to be recognized in each of the three years using the completed contract technique.
The standard direct labor wage are is $8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct labor hours. Illustrate what is the direct labor efficiency variance?
Calculation of cost per equivalent units - What is the cost per equivalent unit for direct labor
Concept of depreciation of plant assets through short questions and For income statement purposes, depreciation is a variable expense if the depreciation method
Illustrate what are some of the risks of the interviewer basing their decisions on these interpretations? How can the interviewer minimize or avoid these risks?"
During this year, Topflight purchased $8,250 worth of store supplies. On December 31, $1,125 worth of store supplies remained. Calculate amount of Topflight Company's store supplies expense for the current year.
During the year, the company purchased $274,000 of materials; however it paid for only $264,000. How much inventory was requisitioned for use on jobs during 2010?
Reporting results Identify the greatest problems Virms is likely to have doing the audit
The Dybvig Corporation's common stock has a beta of 1.15. If the risk-rate is 4.5 percent and the expected return on the market is 11 percent, what is Dybvig cost of equity capital?
Using the plantwide rate, how much would the bracelet cost and Using activity-based costing, how much would the bracelet cost?
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