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Question - On April 30, 2019, Marc Company purchased 20,000 shares of Spencer Ltd. for $56 per share plus $2,600 in commission. On September 30 2019, the company received $1.30 per share dividend, and the shares had a fair value of $60 per share at the end of the year. On November 1 2020, the shares were sold for $65 per share less a $1,500 commission.
Required -
a) Prepare the entries for 2019 using the FVTPL method.
b) Prepare the entry on November 1, 2020 for the sale of the shares.
Variable selling and administrative 48. The Company produces 24,000 units each month. Determine the unit product cost under variable costing
Steve-A-Rena's coffee shop at the Farmer,Calculate the standard cost for direct materials, direct labour, and variable overhead for the fruit salad operation.
How does the service industry use the cost accounting system. Describe some useful tools and techniques of Cost Accounting in service industry.
Suppose that product can be sold at split-off for $5,000 or processed further at a cost of $1,000 and then sold for $6,400. Should product be processed further
N Company has fixed costs of $750,000. How many units would N Company have to sell to earn a profit of $300,000
The required interest rate of the firm is 14 percent. (more precisely, suppose the investment is made at the beginning of each year, with the first cash flow from every project commencing at the end of the year)
A market research study conducted revealed that the product of Blair Inc. can be sold only for $470. What is the target operating income
Using the weighted average method, prepare two production reports: one for the Molding Department and one for the Assembly Department.
1. which of the following are easy to trace to individual jobs?nbsp a. direct materials and overheadb. direct materials
Determine the amount of interest expense to be reported on July 1, 2017, and December 31, 2017.
Beginning inventory, 40,900 partially complete gallons. Compute the equivalent units for materials using the weighted-average method
Does the FIFO or weighted average method have any effect on the overhead costs? Why or why not - FIFO and weighted average equivalent
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