Service businesses typically carry no (or very little) inventory. Retailers and wholesalers normally stock considerable inventory. Manufacturers also carry significant inventories, typically subdivided into three categories: raw material, work in process, and finished goods. 3. The income statements of service business normally have separate sections for operating revenues, operating expenses, and other income (expenses).
President of Acer Corp, The purpose of this letter is to provide guidance to Acer Corp on the appropriate accounting for the Theta investment. Below is an overview of the transaction followed by our findings and authorities used for the basis of our conclusions under both US and International accounting standards. From our research, it is more beneficial for Acer to headquarter in the US where only partial gains from the transaction must be recognized. This transaction included the transfers of factory equipment to Theta Corp in exchange for $1 million cash and a 25% equity ownership stake in Theta. The book basis of the transferred equipment was $6 million, and the equipment was recently appraised for $6.5 million.
incremental costs. None of the above | 3. (TCO A) The cost of lubricants used to grease a production machine in a manufacturing company is an example of a(n): (Points : 6) | period cost. direct material cost. indirect manufacturing cost.
ACC 422 Week 5 Final Exam http://www.homeworkarena.com/acc-422-final-exam-perfect-solution 1) Which of the following is NOT considered cash for financial reporting purposes? A. Postdated checks and I.O.U.’s B. Money orders, certified checks, and personal checks C. Petty cash funds and change funds D. Coin, currency, and available funds 2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet? A. As assets but separately from other receivables.
UNIT 4 People in Organisation Task P1 Describe the main job roles and function in different organisation Hierarchical structure: it is basically the levels of different jobs which are structured. This type of structure is found in retail shops. Example: Sainsbury C.E.O C.E.O Board of director Board of director Regional manager Regional manager Area manager Area manager Store manager Store manager Assistant manager Assistant manager Team leader Team leader Operates/ tills staff Operates/ tills staff Cleaners/store room staff Cleaners/store room staff C.E.O (Justin Matthew King) Board of Directors Regional manager (E.g. south east of England, they are responsible for 100 stores) Area manager (Responsible for 10-15 stores)
The source of the energy is categorized as either a “renewable or nonrenewable” energy source. Renewable energy sources are energy sources that can be easily replenished whereas nonrenewable energy sources are sources we are using and we cannot recreate (Energy Basics, n.d.). Energy that is created directly from the resource is called a primary energy source and secondary sources are created from primary sources (Energy Sources, 2014). Energy Self-Assessment My day starts at 6:30 am on most mornings when I am working. The alarm sounds off at 6:15 am; I
I don't have anything I want to upload right now. Thanks! fweroawr wortuawrwar werotuawrl.. wretawirtaworua aroiwerwar wowu awrwoeu lwrawe. werutwio uowaourowu owu welruowar. awrtuaworu artoawruor ouwropwauirawr powuerpo;;awrtja;wej;l.. Accounting Principles Business entity principle: Every business is accounted for separately from its owners personal activities.
Toys can use a method of assigning costs to products or services based on the resources that the plant consumes. Rather than waste materials and resources. The business’ overheads are allocated in proportion with activity based on the number of events or transactions involved in the process of providing a product or service. In this case it would be the product, Geoffrey doll. b. I do not think that the Springfield plant should change its current cost system.
Those that deal in movable goods for sale are merchants and as the UCC has stated merchants are those who regularly engage in the sale of tangible items. The one comparison that seem to exist in state common law and state statutory law is the need for a contract. The two laws are similar in that contracts must exist between the two and they must also contain certain understandings so to be considered valid. Article 2 may require a contract to complete a sales transaction, but these contracts are not has detailed and do not have certain formation requirements. There is another similarity among the two which is statute of fraud and certain considerations, but even in this there are differences.
In May last year it was said that Morrison’s is putting into place a network of lockers to its stores that will allow shoppers to pick up click-and-collect parcels. Once again Morrison’s is putting this into place to compete with the other big supermarkets. The first Morrison’s collection point is already operating at the store on Dewsbury Road in Wakefield but it is still a process with a lot of progression to go. Having a click collect system in place is an advantage for Morrison’s as again it is now like the other four supermarkets as they also have the click and collect scheme but it is also an advantage for regular customers at Morrison’s as they can order stuff online and just pick it up in store this also saves customers delivery costs. Overall Morrison’s have responded to their competitive pressures fairly well however there are also some disadvantages this includes the time in which they entered the online grocery market and the risk they took on comparing prices with stores such as Aldi, furthermore with recent news it is clear Morrison’s have not been making consistent profits therefore this shows some of their strategies to not be so