Show the computation of expenses on the accrual basis

Assignment Help Cost Accounting
Reference no: EM13341937

Here's another exercise, this time in the opposite direction. This one may be a little more challenging. Expenses paid during 2008 were $80,000. Expenses paid in advance were $4,000 as at December 31, 2007, and the balance of expenses paid in advance was $8,000 as at December 31, 2008. Expenses accrued and still unpaid were $6,000 as at December 31, 2007, and $9,000 as at December 31, 2008. Can you show the computation of expenses on the accrual basis for the year 2008?

Reference no: EM13341937

Questions Cloud

Why is a code of conduct important : In the long run, many agencies will adopt an automated tool to assist in the documentation, testing and evaluation of internal control. Why is that?
What is speed v of the bentley with respect to the radar gun : Consider a universe in which Einstein's postulates and special relativity are valid but the speed of light c = 200 miles/hour. A Toyota with proper length L and a Bentley with proper length 3L are racing.
Currently they have a small it start-up client : There is expected to be a growth of 100% in the Penrith office over the next 5 years, and so this level of infrastructure should be built into the current requirements.
Explain what is the concentration of the second sample : A sample of 2-butanol containing 0.375 g in 12.5 mL of solvent was analyzed in a polarimeter using a 10.0 cm polarimeter tube. The sample had an optical rotation, ?, of -0.405. (A) What is the specific rotation of 2-butanol? (B) A sample of the en..
Show the computation of expenses on the accrual basis : Expenses accrued and still unpaid were $6,000 as at December 31, 2007, and $9,000 as at December 31, 2008. Can you show the computation of expenses on the accrual basis for the year 2008?
Citronellol or dihydrogeraniol is a naturally occurring oil : Citronellol or dihydrogeraniol is a naturally occurring oil. The IUPAC name for citronellol is 3,7-dimethyl-6-octen-1-ol. (+)-Citronellol, which is found in citronella oils, is the more common isomer.
Investigate the mis requirements of the organisation : You are required to investigate the MIS requirements of the organisation in the case study.
Where are the object and image located : A converging lens with a focal length of 6.20cmforms an image of a 3.00mm -tall real object that is to the left of the lens. Where are the object and image located
Determine what is the x-component of vector d : Vector B has magnitude of 8.0 at an angle of -10.0 o from the x-axis. Let C=A+B. Let D=A-B. Let V=2*A-B. What is the x-component of vector C. What is the y-component of vector C.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Calculate the total incremental cost of buying some units

Santos Company currently manufactures one of its crucial parts at a cost of $3.20 per unit. This cost is based on a normal production rate of 70,000 units per year. Variable costs are $1.70 per unit, fixed costs related to making this part are $70..

  Evaluate the cost recovery deduction

She takes additional first year depreciation. Evaluate the cost recovery deduction with respect to the asset for 2013.

  How to compensate the purchaser for the coupon rate

A bond with an annual coupon payment of $100 originally sold at par for $1,000. Market interest rates are currently 12%. This bond would be selling at a  in order to compensate the purchaser for the below market coupon rate.

  Prepare an appropriate performance report

Prepare a flexible budget for 20,000, 22,500, and 25,000 units of activity - Was Centron's experience in the quarter cited better or worse than anticipated? Prepare an appropriate performance report and explain your answer.

  Shareholders in the consolidated income statement

Shareholders in the consolidated income statement

  Components of net position for proprietary funds

Which of the subsequent properly portrays the components of net position for proprietary funds?

  Direct method and step down method

If you were to use step down method, which user departments could be ranked highest on your list and could you recommend that allocations be made based on actual usage or based on budget usage

  Determine the variable cost per order shipped

Determine the variable cost per order shipped, determine the fixed shipping costs per quarter - determine total shipping costs for 20X7 if activity amounts to 570 orders.

  Evaluate the cut off score for gaining admission

Evaluate the cut off score for gaining admission and evaluate the probability that they have a mean height greater than 63.0 in.

  Why does the allowance for bad debts have a debit balance

Early in the year we wrote off $65,000 of receivables. Nick, Ray, and I agreed we would lose another $30,000 from the open accounts as of December 31, 20X4. That's reflected in the listing of S&A costs. The allowance for bad debts was just a "squee..

  Role of cost accounting in business planning-control

Describe the role of cost accounting in helping management plan, make decisions, and control the organization.

  Strategic objectives this information system address

What strategic objectives this Information System address and in each strategic objective (from answer 1), how does Information System improve business process?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd