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When standard manufacturing costs are recorded in the accounts and the cost variances are immaterial at the end of the accounting period, the cost variances should be:
Mile-High Foods, Inc., was formed in March 2011 to provide prepackaged snack boxes for a new low cost regional airline beginning on April 1.
On December 1, 2010, the company declared a cash dividend of $2 per share which will be paid in cash on January 15, 2011. The annual accounting period ends December 31. Prepare the appropriate journal entries on each date.
During 2012, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Cincinnati, Ohio, and earned $22,000. The state unemployment rate for Rowland is 4.6%.
Why is it not possible simply to add together the separately computed earnings per share amounts of individual affiliates in deriving consolidated earnings per share? Explain.
Discuss how the deferred tax liability will impact Obadiah Vineyards cashflow in the short term? Long term?
Provide the fund level entries in general journal form required to conform to generally accepted accounting principles. If no entry is needed, so indicate.
Short Term Financial Policy
I understand that non-recurring items such as adjustments for changes in accounting methods, extraordinary gains/losses, income from discontinued operations, etc. must not be included. However, what items should I address?
Which category completely excludes equity securities?
Illustrate out the qualitative and quantitative limitations of financial statements? What is the FASB and what role does that entity play? Have you heard of and do you know the meaning of IFAS and GAAP?
On January 1, 2006, Hi and Lois Company purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. Prepare the journal entry at the date of the bond purchase.
Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.
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