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Sanilac County has a lease on a lawn mower for $2500 per month and $.02 per minute of operation. Operating costs for fuel, oil, technicians, and so on are all variable at $.03 per minute. Departments had projected a need for 100,000 minutes per month. The county planning department predicted its usage at 36,000 minutes per month. The lawn mower was actually operated 42,000 minutes in 2011.
Calculate one predetermined rate per minute to allocate all lawnmower usage. How much should be allocated to the city department this month?
Now, assume that fixed and variable costs were allocated separately. How should each pool be allocated? What is the total cost to be allocated to the city department with this method?
Cost and fair value data for the trading securities of Clifford Company at December 31, 2010, are $100,000 and $74,000, respectively. Which of the following correctly presents the adjusting journal entry to record the securities at fair value?
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Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the follow..
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Role of adjusting and closing entries in the preparation of the income statement, statement of retained earnings, and balance sheet and how is cash-basis accounting different from accrual-basis accounting
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Sally and Tom are married, have three dependent children, and file a joint return in 2012. If they have adjusted gross income (AGI) of $90,000 and itemized deductions of $10,000, what is their taxable income for 2012?
Calculate the total indirect manufacturing costs for December from the information given above.
Prepare the entry to record Poulter's investment in the partnership, assuming the equipment has a fair value of $19,500.
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