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The Uniform Commercial Code covers goods, but sometimes you have a contract that has a mix of goods and services so you have to determine what is the predominant. How do you determine if a contract is predominantly a good in difficult situations?
Prepare a reconciliation schedule to reconcile 2011 net income and December 31, 2011 stockholders 2019 equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule.
What is the role of cost allocation in strategic performance measurement? Can strategic performance measurement be used for service firms and not-for-profit organizations? How?
Direct labour is paid at a rate of RM8 per hour. Production overheads are absorbed at a rate of RM40 per direct labour hour and non-production overheads are absorbed at a rate of 150% of prime cost. What is the total cost of job number 607?
Prepare journal entries (in general journal form) to record the above transactions. Use a 360-day year in making the interest calculations.
List of transactions for Bows and Biceps for the first month. Put the transactions in the attached T accounts and then create a trail balance.
A cash dividend of $500 was declared and paid to stockholders. The correct journal entry to record the declaration is:
Using a spreadsheet program like Excel, calculate the NPV and IRR of the following scenario:
Tomlin Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed 10 $5,400 $5,900 May 11 5,800 5,500 $3,800 June 12 1,700 April 13 6,700 5,400 Ju..
Your company currently has the following cost structure for a product. The total monthly revenue from sale of the product is $100,000; the total monthly variable costs from production and sale of the product are $80,000; and the total monthly fixed c..
Consider the conflict between Adams and Schmidt. Assuming that Schmidt believes the inventory adjustment and vacation pay accrual must be made and that she does not want to lose MPI as a client, what should she do?
Compute the gross-margin percentage for each product sold in December, using the following methods for allocating the $96,000 joint costs and show the effect on operating income of any changes you recommend
Determine what interest expense for this bond issue Dingle will report in its 2010 income statement. Indicate how these bonds will appear in Dingle's December 31, 2012, balance sheet.
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