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You are the accountant for a division of a company that is constructing a building for its own use. It is January 2011, and you are working on closing the books for 2010. The CEO of the division stops by your office and says, "I have some question about our building. Although we started the construction at the beginning of June this year, we started planning it at the beginning of the previous year. I believe that we can capitalize interest since then. Check to see if we did capitalize some in 2009. If not, we can take it out of this year's expense and get a double dose. Also, I want you to add lots of overhead to the cost of the building so we can increase our profit for this year. For example, you spent quite a bit of time on the project. So perhaps we could add 1/12 of your salary to the cost of the building. You get the idea?" When the CEO leaves you check the files and find a letter to an architect dated January 2, 2009. There are numerous subsequent letters to and from the architect.
in reviewing the activities of the mixing department for the month of june the manager of the department notices that
For the current year ending April 30, Hal Company expects fixed costs of $60,000, a unit variable cost of $70, and a unit selling price of $105.(a) Compute the anticipated break-even sales (units). (b) Compute the sales (units) required to realize..
While preparing Bank Reconciliation Statement will you add or deduct the following to or from the Cash Book overdraft balance?
The tax benefit of the loss amounts to $123,000. If income from continuing operations (net of tax) amounted to $1,300,500 what is net income?
what information does the cash flow statement provide that you cannot see in the other financial statements income
Your client, a manufacturer of computer components has experienced slowing demand for its product. Recently, it cut back from three shifts a day to two shifts a day and the company has eliminated the backlog of orders that existed in prior years b..
Analyze statements about accounting and the recording process. Josh Cephus has prepared the following list of statements about accounts.
on january 1 2013 burleson corporations projected benefit obligation was 30 million. during 2013 pension benefits paid
1. shrinkage is a major factor for retail operations and has a huge negative impact on profits. discuss the various
You have been hired as the CFO of a new company and are determining the companies accounting needs. The first question you answered which was Explain to your staff at least 2 ways in which accounting data are used to make business decisions.
Formulate the objective function and constraints to determine the optimal product mix.
fagan company uses a flexible budget for manufacturing overhead based on machine hours. variable manufacturing overhead
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