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Ice Mountain Company exchanged machinery with an appraised value of $1,755,000, a recorded cost of $2,700,000 and Accumulated Depreciation of $1,350,000 with Green Corporation for machinery Green owns. The machinery has an appraised value of $1,695,000, a recorded cost of $3,240,000, and Accumulated Depreciation of $1,782,000. Green also gave Ice Mountain $60,000 in the exchange. Assume depreciation has already been updated.1.Prepare the journal entry for Green Company assuming that the exchange had commercial substance.2. Assume that the exchange lacked commercial substance. Prepare the journal entry for Green Company.3. Assume that the exchange lacked commercial substance. Prepare the journal entry for Ice Mountain Company.
Explain. What journal entry would be made for the days worked and what entry would be made when the wages are paid on Saturday?
matador inc. sells computer monitor screens. the direct labor dl rate includes wages benefits and payroll tax. direct
Critically evaluate the social, cultural or political implications of either the planning, controlling or decision making elements of management accounting.
After reviewing its cost structure (variable costs of £7.50 per unit and monthly fixed costs of £60,000) and its potential market, the Forecast Company established what it considered to be a reasonable selling price.
Prepare a budget for 75 percent of its capacity - particulars are taken from the books of a factory working at 60% of its capacity:
A company makes a product out of metal. They employ two pounds of metal that costs them $20 per pound. They pay their employees $25 an hour and it takes average of 1.3 hours for them to make the final product.
Assuming that three units of product A are sold for every four units of product B, calculate the dollar sales volume necessary to break-even. As part of its cost accounting routine, Wilcox Company assigns $36,000 in fixed costs to each product e..
Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume payment is made either on the due date or on the discount date.
Use the following format to classify each cost as a product cost or a general, selling, and administrative (G,S,A) cost. Also indicate whether the cost would be recorded as an asset or an expense. The first is shown as an example.
Case Study On Profit Priorities from Activity-Based Costing
ACT 5733 - Advanced Managerial Accounting. List and describe the 4 "levers of control" that a firm can use to motivate behavior that is consistent with its strategy?
Provide an insight into how Ethics can best be incorporated in organisations and those charge with Corporate Goverance.
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