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work in process inventory on december 31,2011, is $42,000. work in process inventory decreased 40% during 2011. total manufacturing cost incurred in 2011 amount to $260,000. what is cost of goods manufactured?
Sharp and Townson had capital balances of of 60,000 and 90,000 respectively at the beginning of the current fiscal year.
In each of the following independent situations, determine Winston's filing status for 2012 and why. Winston is NOT married.
Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software. 1) Explain to him the rules of debits and c..
Briefly explain the rationale for a sale and leaseback and the advantages for firms engaging in such an exercise.
Compute the total amount of dividends that was paid to each class of stock, b) Compute the amount of dividends per share for each class of stock.
All of the following statements regarding the sale of subsidiary shares are true except which of the following.
In deliberations prior to the issuance of SFAS 160, "Noncontrolling Interests in Consolidated Financial Statements," the FASB considers three alternatives for displaying the noncontrolling interest in the consolidated statement of financial positi..
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
For property which is involuntarily converted that is replaced with similar property - what are the mandatory rules for recognition of gain or loss (an example would be great)?
An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?
A company established a petty cash fund of $100 on September 1. On September 15, the petty cash fund was increased to $125 in total. Record the above transactions in general journal form.
The following information is available for completed job: Direct materials,$60000; direct labor $ 90000,manufacturing overhead applied $ 45000, units produced 5000 units, units sold 4000 units. the cost of the finished goods on hand from this job ..
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