Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Ollie Mace has recently been appointed controller of S. Dilley & Company, a family-owned manufacturing firm founded 28 years ago. The firm manufactures automotive parts. Its four major operating divisions are heat treating, extruding, small parts stamping, and machining. Last year's sales from each division ranged from $150,000 to over $3,000,000. Each division is physically and managerially independent, except for the constant surveillance of S. Dilley, the firm's founder. The accounting system for each division has evolved according to its needs and the abilities of its accounting staff. Mace is the first controller in the firm's history to have responsibility for overall financial management. Dilley expects to retire in a few years and wants Mace to improve the AIS before he retires so that it will be easier to monitor performance in each division. Mace decides to redesign the financial reporting system to include the following features:
Mace believes that a new chart of accounts is required to accomplish these goals. He wants to divide asset accounts into six major categories, such as current assets and plant and equipment. He does not foresee a need for more than 10 control accounts within each of these categories. From his observations to date, 100 subsidiary accounts are more than adequate for each control account. No division now has more than five major product groups. Mace foresees a maximum of six cost centers within any product group, including both the operating and nonoperating groups. He views general divisional costs as a non-revenue-producing product group. Altogether, Mace estimates that approximately 44 natural expense accounts plus 12 specific variance accounts would be adequate. Required
Design a chart of accounts for S. Dilley & Company. Explain how you structured the chart of accounts to meet the company's needs and operating characteristics. Keep total account code length to a minimum, while still satisfying all of Mace's desires.
if the historical cost of product x is 64 the selling price product x is s90 the costs to sell product x are s14 the
ries corporation has received a request for a special order of 8000 units of product r34 for 34.60 each. the normal
Which is not a GAAP for investments in equity securities? a. replacement value method b. market value method c. Equity method d. consolidation
Prepare and describe each incorrect assumption, statement and/are inappropriate application in the above procedures
the equipment that was bought had a fair market value of 450000 but the actual purchase price was 400000. they signed a
Lori thinks that by redesigning the package, she can increase her total productivity to 133 care packages per day. What will be her new productivity?
Differences between actual overhead and the amount applied are a normal part of job order costing and will average out over the next year.
Write an article arguing this position. You may or may not agree with this proposition. However, based upon the materials covered in this course and the discussions that have occurred in the TDAs, you should be able to articulate a cogent, persuas..
What is the cash inflow from selling the old helicopter? What is the net cost of the new helicopter? Calculate the incremental depreciation of the new helicopter
payroll accounting. assume that the following tax rates and payroll information pertain to brookhaven publishingbull
Using the cost method and par value method for treasury stock. Prepare journal entries and stockholders' equity assuming RetainedEarnings of $1,005,000
after graduation you plan to work for dynamo corporation for 12 years and then start your own business. you expect to
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd