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Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is:
X, Y and Z are partner sharing profits and losses in the ratio of 5:3:2 respectively. Prepare a statement showing how the cash distribution should be made
abbey co. sold merchandise to gomez co. on account 35000 terms 215 net 45. the cost of the merchandise sold is 24500.
The production department described in Exercise had $531,480 of direct materials and $407,689 of direct labor cost charged to it during April.
during the current year kiera incurs the following expenses with respect to her beachfront condominium in
Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semi-annually.
Develop a proposal for migrating your firm to IFRS from GAAP. Discuss how you will educate your users in IFRS
Franco purchases a 2 year membership on April 1, 2017 by paying cash of $450. How should Platinum Fitness account for this payment
Compute an estimated fair value for any goodwill associated with Kivi purchasing Gas N' Go. Base your computation upon an assumption that Kivi's management expects excess earnings to continue for four years.
The horizontal axis of each graph represents the units produced over the year, and the vertical axis represents total cost or revenues.
I promised to put more police patrols on the street. Let, use the bond proceeds to hire more police officers How should the finance commissioner respond to the mayor?
Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share.
when property is disposed of what factors influence the amount of the deductible loss?compare and contrast the
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