Christopher Columbus first discovered corn in 1492 in Cuba. He was gifted corn from the Indians and brought it back to Europe, specifically Spain. Within a few years, it spread throughout France, Italy, all of southeastern Europe, and northern Africa. By 1575, it made its way into western China. It was often used as food for animals as well as humans in these regions.
“Giant Candy Company (Giant) agrees to buy and Little Candy Company (Little) agrees to sell all of the candy coating that Giant requires for a period of five years. The candy coating shall be purchased at the current list price as determined by Little. Orders will be shipped ten days from the placement of order. Applicable taxes extra. Contingencies beyond the control of Little to be sufficient excuse for failure to comply with the contract.” Giant has placed 14 orders with Little over the past two years.
On May 1, 2012 Coconut agreed to provide Buffet with training services on the customer management system and one additional year of PCS. This second arrangement was made under a separate contract and Buffet paid $4,500 for the additional services. 1.) Is Coconut’s February 1, 2012, arrangement with Buffett within the scope of ASC 985-605? The agreement with Buffett on February 1, 2012 is not within the scope of ASC 985.
[130]Former Monsanto lobbyist Michael R. Taylor was appointed as a senior adviser to the Food and Drug Administration (United States) Commissioner on food safety on 7 July 2009. [131] [edit] Public officials formerly employed by MonsantoUnited States Supreme Court Justice Clarence Thomas worked as an attorney for Monsanto in the 1970s. Thomas wrote the majority opinion in the 2001 Supreme Court decision J. E. M. Ag Supply, Inc. v. Pioneer Hi-Bred International, Inc.[132] which found that "newly developed plant breeds are patentable under the general utility patent laws of the United States." This case benefitted all companies which profit from genetically modified crops, of which Monsanto is the
ACCT 550 Week 7 Homework Chapter 11: E11-4, E11-9, E11-11, E11-17 E11-4 (Depreciation Computations—Five Methods) Wenner Furnace Corp. purchased machinery for $279,000 on May 1, 2012. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and working hours of 25,000. During 2013, Wenner Corp. uses the machinery for 2,650 hours, and the machinery produces 25,500 units. Instructions From the information given, compute the depreciation charge for 2013 under each of the following methods. (Round to the nearest dollar.)
One of the items was sold during the year. Required: Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory, assuming use of: a. LIFO b. FIFO c. Weighted average (total cost/total number) | |Cost of goods sold |Ending inventory | |LIFO |700 |800 | |FIFO |800 |700 | |Weighted Average |750 |750 | Problem 2. Teague Company purchased a new machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an eight-year life and a $15,000 salvage value. The machine is expected to produce 675,000 finished products during its eight-year life.
Running head: MODULE 3 TAXATION AND DISTRIBUTION ESSAY Module 3 Taxation and Distribution Essay Jennifer Ponton Grand Canyon EDA 535 June 4, 2012 Module 3 Taxation and Distribution Essay Education in Iberia Parish is financed by local, state and federal funds. The total projected revenues for all fund sources for 2010-2011 school years are 174,400,000. The local funds used to support public education in Iberia Parish are provided by sales taxes and property taxes. Funds for the general operations of the school come from a 2.0 sales tax and 10.70 mills of property tax. Tax revenues also help to provide for salaries and other items assigned to the general funds.
(Points : 5) A budget that is developed for a single level of activity A budget that analyzes existing activities (and continuation of that activity must be justified and resources needed must be justified by each manager) A budget that is based solely on prior period information, adjusted for inflation A budget that is continuous or rolling Question 11.11. (TCO 5) Bug Company manufactures buggies. Manufacturing a buggy takes 20 units of wood and 1 unit of steel. Scheduled production of buggies for the next 2 months is 500 and 600 units, respectively. Beginning inventory is 4,000 units of wood and 30 units of steel.
ED and Board member meet with the Rotary Club of Monrovia as implementing partners of the Liberian Learning Center Project. 7 THE INVESTMENT The total budget for the Liberian Learning Center project is $1.9 million USD, accounting for construction, operating costs (for three years) and project reserves. Project construction will begin once 80% of budget is committed – estimated to be by spring of 2014. This is a significant investment, but one made with proven partners, a thorough and sustainable plan and a strong vision. Budget (Forecast) Task Project Costs LLC Building and Programming Operating Costs Year 1 Year 2 Year 3 Sub-Total Management Reserves Project Reserve (5%) EMV Risk Costs Total Cost $ $ 86,906.25 88,785.00 $ $ $ 233,600.00 245,280.00 259,245.00 $ 1,000,000.00 Cost $ 1,738,125.00 $ 1,913,816.25 8
The PPACA bill was enacted after being signed by the President on March 23, 2010. Providing Small Business Health Insurance Tax Credits - Effective Jan. 1, 2010; Up to 4 million small businesses are eligible for tax credits to help them provide insurance benefits to their workers. The first phase of this provision provides a credit worth up to 35% of the employer’s contribution to the employees’ health insurance. Small non-profit organizations may receive up to a 25% credit (Timeline of the Affordable Health Care Act,