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As of December 31, 2014, Blue Haven Company had total assets of $100,000, total liabilities of $30,000, and common stock of $50,000. The company's 2014 income statement contained revenue of $16,000 and expenses of $11,000. The 2014 statement of changes in stockholder's equity stated that $2,000 of dividends were paid to investors.
• Retained earnings before closing?• Retained earnings after closing?• After closing balances? (Revenue, Expense, Dividend)
Explain in detail.
Would each of the following increase, decrease, or have an indeterminant effect on a firm's breakeven point (unit sales)?
Wild Wood Company's management asks you to prepare its master budget using the following information. The budget is to cover the months of April, May, & June 2014
Distinguish between the two types of payroll deductions and give examples of each.
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The standard labor time for the Cutting and Sewing departments is 0.20 hour and 0.30 hour per unit, respectively.What is the total direct labor variance for (1) the cutting department?
Explain why random access files would be preferable to sequential access files when payroll personnel are changing a pay rate for a single employee.
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