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XYZ Corporation recieves $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a
a debit to investmentb credit to retained earningsc credit to capital stockd credit to revenue
Process of Setting Standards in Standard Costing Establishing correct a standard is extremely important due to the accuracy of the standards usually finds out the success of t
Candler Inc a computer software development firm has stock outstanding as follows: 40,000 shares of $2 nonparticipating, noncumulative preferred stock of $10 par, and 250,000 share
A machine originally had an estimated useful life of 5 years, but after 3 complete years, it was decided that the original estimate of useful life should have been 10 years. At tha
Limitations of Budgeting 1. Too mush reliance may reason resistance or inflexibility to change. 2. Difficult to set levels of attainment. It may result into too tight budg
Beginning inventory on March 1 consisted of 2,000 units each costing $11.20. During March, the following was purchased for inventory: Date Purchase
Relationship among variances We cannot over emphasize the central aim of variance analysis as outlined in the above paragraphs: that is to assign responsibility for a particu
What are the importance of cost classification
Usefulness of Variance Analysis Carefully note that while prices are being charged to production, it can be done at the actual or standard price. For purposes of making varian
ShipShape Company makes 2 different types of boats, commercial fishing and sail boats both for recreation and competition. The company consists of two different departments, design
Smith Corp. has determined that its contribution margin, (P - MC)/P, is 40%. A recent market research study found the following relationship between adverting outlays and sales rev
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