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Industry downsizing has been a major part of the corporate world, even government agencies are downsizing. GovernmentExecutive.com "covers the business of the federal government and its huge departments and agencies - dozens of which dwarf the largest institutions in the private sector" on its website. Read the assigned Government Executive article and answer the following questions:
• Which industries have substantially reduced fixed cost commitments?
• Do you believe this reduction in costs has substantially impaired the ability of these industries to meet the needs of their customers?
Jenner Company had beginning inventory of $90,000, ending inventory of $110,000, cost of goods sold of 400,000, and sales of 660,000. Jenner's days in inventory is:
During the current year, Hugo sells equipment for $150,000, which it placed in service in 2009. The equipment cost $175,000, and $55,000 of depreciation deductions was allowed. The results of the sale are
Explain disclosure requirements for nonprofit organizations, such as the tax-exempt determination letters required by Congress and the IRS. Discuss the reasons for these disclosure requirements and the sentiments of the public and government abou..
Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :
By preparing a four-column bank reconciliation ("proof of cash") at year-end, an auditor will generally not be able to detect:
You just turned 25. you plan on saving a equal amount in your 401K at the of each year for 40 years (your 65th birthday). You expect to earn 9% pa during this time frame.
At December 31, 2012, Vermont Industries reported three temporary differences between accounting and taxable income:
Overhead applied to Standard using traditional costing using direct labor hours is
Determine ending inventories of Direct Materials, Work In Process, and Finished Good, Draft an insurance claim letter for the controller,seeking reimbursment for the damage to invemtory.
Describe in detail an ethical dilemma in business that you or a coworker experienced and how it was resolved.
a. Determine the budgeted manufacturing overhead rate for each department. b. Prepare the necessary journal entries to summarize the March transactions for Department 100. c. What is the total cost of Job A?
Prepare schedule to reconcile accounting and taxable income and to compute taxes payable. Prepare a schedule of temporary differences and deferred income taxes. Prepare Journal entry for each year. Show how income tax expenses, deferred income tax as..
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