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Stuchlik Catering uses two measures of activity, jobs and meals, in the cost formulas in its flexible budgets. The cost formula for catering supplies is $540 per month plus $66 per job plus $14 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in January to be 31 jobs and 200 meals, but the actual activity was 33 jobs and 204 meals. The actual cost for catering supplies in January was $5,600. The catering supplies in the planning budget for January would be closest to:
a. $5,600
b. $5,518
c. $5,386
d. $5,574
Suppose a corporation issues 5,000 shares of $1 par common stock for $30 per share. In addition to the increase in cash, what effect does this transaction have on the accounting equation?
Cost of goods sold is expected to be 60% of sales. Desired ending merchandise inventory is 20% of the next month's cost of goods sold. The beginning inventory at October 1 will be the desired amount. Prepare the budgeted income statement for October ..
Prepare the Stockholders Equity Portion of the Balance Sheet on January 1, 2012 - sole proprietor owner's equity accounts must be closed and the equity must now reflect a corporate stockholders' equity account.
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Sugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1 of the current year. Expected sales during the first three months of activity are: May, $60,000; June, $80,000; and July, $85,000.
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Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that was purchased at a cost of $52,000 on October 1, 2013. The equipment has an estimated residual value of $2,000 and an estimated useful life of ..
The banking system will hold excess reserves of 1% on all demand deposits in excess
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classification of various cash flows in to operating investing or financing activities.cash flow classificationsfor
If the partnership agreement specifies salaries to partners, interest on partners' capital, and the remainder on a fixed ratio, and partnership net income is not sufficient to cover both salaries and interest,
But most fraud takes place at the workplace. Explain how does the fourth amendment work in the workplace? Does the employee have any protection from it?
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