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Problem 1: A company that uses a perpetual inventory system made $110,000 worth of purchases throughout 2017. At the end of the year it was discovered that a $20,000 purchase made in December had been recorded incorrectly. When the December purchase was recorded, the accountant debited cost of goods sold and credited cash. At the beginning of the year, the company had an inventory balance of $78,000 and after their year-end inventory count determined that they had $31,000 on hand. Record any adjusting entries required.
Comment upon the results with the 2 different transfer prices and on the motivational impact on the two divisional managers
Prepare a Pricing Strategy Report from one of the following pricing strategies:- Penetration pricing- Skimming Pricing- Bundling pricing- Reference point (anchor) pricing.
Riley Inc. Riley could borrow money from a bank at a rate of 16%. Explain through computations why this might not be a good strategy.
What circumstances, if any, can the responsibility for each variance be placed on the purchasing department and the production department?
Federated Fabrications leased a tooling machine on January 1, 2016, for a three-year period ending December 31, 2018. The lease agreement specified annual payments of $39,000 beginning with the first payment at the inception of the lease, and each De..
q 1. which of the subsequent is not an advantage of post-audits of capital investments?a. they show whether project
Select a valuation method from the introduction in the Learning Guide and describe why you might use that method to value a business.
A flexible budget performance report compares the differences between:
Presented below are four different situations related to Mckee plc debt obligations. Mckee's next financial reporting date is December 31, 2018.
How much is your taxable income? Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.
Expected to remain indefinitely at $1 p.a. and that the required rate of return for the level of risk on such a share is 15%, the correct price for this share
loss on disposal of discontinued music division $20,000. The income tax rate is 40%. Create a correct income statement, beginning with income before income taxes
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