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The assignments for this course will focus on the Cookie Creations case study. This is the beginning of the case involving Natalie, who is investigating the possibility of starting her own business.
Question a. What form of business organization (i.e., proprietorship, partnership, or corporation) do you recommend that Natalie use for her business? Discuss the benefits and weaknesses of each form, and explain the reasons for your choice.
Question b. Will Natalie need accounting information? If yes, what information will she need, and why? How often will she need this information?
Question c. Identify specific asset, liability, and owner's equity accounts that Cookie Creations will likely use to record its business transactions.
Question d. Should Natalie open a separate bank account for the business? Why, or why not?
Outline and briefly explain the two phase process for executing machine level instructions.
Redo the company's contribution format income statement assuming that the company sells 5,200 units. What is the Net Operating Income
Sales: March 2 200 qts; March 10 500 qts; and March 25 300 qts. ABC uses LIFO and the periodic inventory system. What is the March ending inventory for ABC
Banks charge fees for "bounced" checks-that is, checks that exceed the balance in the account. It has been estimated that processing bounced checks costs.
Dold Acrobats lent $16,529 to Donaldson, Inc., accepting Donaldson's 2-year, $20,000, zero-interest-bearing note. The implied interest rate is 10%.
Property Taxes
in obtaining letters from attorneys bill milanos aim is to receive the letters as early as possible after the balance
The job was completed in 520 hours and the average actual labor rate was $19.80 per hour. What is the labor rate variance
Assets pledged with the fully secured creditors (realizable value, 190,000) 240,000. Compute the amount that will be paid to each class of creditor
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How much interest expense will the company include in its 2011 and 2012 income statements for this note?
During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Compute the standard overhead rate
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