Notes Payable | 12000 | | Interest Payable | 9000 | | Total Current Liabilities | 58500 | | Long Term Liabilities | | | Notes Payable | 28000 | | Total Liabilities | | 86500 | Stockholder's Equity | | | Common Stock | 205500 | | Retained Earnings - December 31 | 97400 | | Total Stockholder's Equity | | 302900 | Total Liabilities & Stockholder's Equity | | 389400 | Elker Fashions Incorporated Closing Entries For Year Ended December 31, 2008 Date | Account Title & Explanation | Debit | Credit | 31-Dec | Merchandise Inventory - December 31 | 80000 | | | Sales | 865800 | | | Purchase Discounts | 16400 | | | Income Summary | | 962200 | | (To record ending inventory and close accounts with credit balances) | | | | | | | 31-Dec | Income Summary | 860100 | | | Depreciation Expense - Buildings | | 12000 | | Depreciation Expense - Equipment | | 10000 | | Gas & Oil Expense | | 7600 | | Salary Expense | | 70700 | | Utilities Expense | | 11400 | | Repair Expense | | 5900 | | Insurance Expense | | 3500 | | Sales Discounts | | 6100 | | Purchases | | 720000
Assembly Task | Completion Time in Minutes | Prerequisite | Assembly Task A | 10 Minutes | None | Assembly Task B | 6 Minutes | A | Assembly Task C | 3 Minutes | A | Assembly Task D | 8 Minutes | B, C | Assembly Task E | 3Minutes | D | Assembly Task F | 4 Minutes | D | Assembly Task G | 3 Minutes | E, F | Assembly Task H | 9 Minutes | G | Table 1. A 10 MIN C 3 MIN B 6 MIN F 4 MIN G 3 MIN E 3 MIN D 8 MIN H 9 MIN A 10 MIN C 3 MIN B 6 MIN F 4 MIN G 3 MIN E 3 MIN D 8 MIN H 9 MIN Figure 1. Justification Analysis of the production cycle reveals there are tasks that could be produced in one production task without delaying the overall production cycle time. This would optimize tasks and minimize time lost due to waiting on tasks to be completed prior to the next task. Balancing the assembly line will include
There are differences in reporting the restructuring costs according to ASC 420-10. First, the liability for the termination of employees of 2 million dollars is treated the same as in IFRS. The interoffice Memorandum from December 27, 2008 constitutes the communication date to all Pharma Co. employees. The workforce reduction is expected to be completed by January 31, 2009, in within 60 days; therefore no significant present value calculation is necessary. The liability is recognized on December 27, 2008.
The following costs were incurred in September: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead $27,300 Selling expenses $23,600 Administrative expenses $33,700 Conversion costs during the month totaled: → $56,700 $70,000 $72,100 $156,700 Conversion cost = Direct labor + Manufacturing overhead = $29,400 + $27,300 In September direct labor was 25% of conversion cost. If the manufacturing overhead for the month was $108,750 and the direct materials cost was $25,800, the direct labor cost was: rev: 06_06_2013_QC_31398, 09_24_2013_QC_36205 → $36,250 $5,583 $91,250 $22,250 Givens: Direct labor = 0.25 × Conversion cost Manufacturing overhead = $108,750 Conversion cost = Direct labor + Manufacturing overhead Conversion cost = Direct labor + $108,750 Conversion cost = 0.25 × Conversion cost + $108,750 0.75 × Conversion cost = $108,750 Conversion cost = $108,750 ÷ 0.75 Conversion cost = $145,000 Direct labor = 0.25 × Conversion cost = 0.25 × $145,000 = $36,250 A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $5,040 and is paid at the beginning of the first year. Seventy percent of the premium applies to manufacturing operations and 30% applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage?
years. | | The step-by-step calculation is: P | = | S(1 + rt)-1 | | | = | 400,000(1 + 0.0892 x 0.24657534...)-1 | | | = | 400,000 x 0.97847883... | | | = | $391,391.53 | Rounded as last step | b)You are correct. When the first bill matures at time 90 days, the investor purchases a second bill. We must find the purchase price of the second bill. This can be displayed on a time line: | | | | | $P | $400,000 | | | | | | 0 | 90 | 180 | 270 | | | | | | | | | P | = | price | = | unknown | | S | = | Maturity value | = | $400,000 | | r | = | Simple interest rate (decimal) | = | 9.16 | 100 | | = | 0.0916 | | t | = | Time period (years) | = | 90 | 365 | | = | 0.24657534... years.
5, 6) Lima Parts, Inc., shows the following overhead information for the current period: Actual overhead incurred $ 29,400 2/3 of which is variable Budgeted fixed overhead $ 8,640 per hour Standard variable overhead rate per direct labor-hour $ 9.00 Standard hours allowed for actual production 2,350 hours Actual labor-hours used 2,200 hours ________________________________________ Required: What are the variable overhead price and efficiency variances and fixed overhead price variance? (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Amounts Variable overhead: Price variance $ (0%) (0%) Efficiency variance $ (0%) (0%) Fixed overhead: Price variance $ (0%) (0%) ________________________________________ P16-45 Overhead Variances (L.O.
Combined Account Statement Statement Period:from Nov 7, 2013 5:00:00 PM through Nov 8, 2013 11:06:18 AM User Name:sajida habib FXCMUK sajida habib house Trade account#:02184120 CLOSED TRADE LIST Ticket # Symbol Volume 3,000 3,000 4 4 4 Date 11/8/13 1:35 AM 11/8/13 2:19 AM 11/8/13 1:40 AM 11/8/13 6:05 AM 11/8/13 2:05 AM 11/8/13 8:15 AM 11/8/13 2:34 AM 11/8/13 5:49 AM 11/8/13 5:51 AM 11/8/13 8:15 AM Sold 1.69969 1.34204 1,311.18 1,309.08 1,311.62 Bought 1.69968 1.33996 1,310.10 1,309.99 1,309.58 Gross P/L 0.03 6.24 4.32 -3.64 8.16 15.11 15.11 Comm 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Rollover 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Adj 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Net P/L Condition Created By d172180780001 d172180780001 d172180780001 d172180780001
ACC 548 Week 5 Learning Team Assignment Reporting Requirements M to purchase http://allmysolution.com/ACC-548_c119.htm Product Description One issue in accounting is the qualifications of an accountant when working for a client. It is expected that a CPA will not engage in an assignment without proper qualifications. Your firm has the ability to bid on two projects: the first is engagement and examination work—not consulting or audit—for a small county hospital. The second is work for a private, not-for-profit nursing home. Prepare a memo of 700-1,050 words for the senior partner.
receivable turnover | sales/AR | NA | NA | NA | 10. days sales in receivables | 365/receivable turnover | NA | NA | NA | 11.capital intensity | TA/Sales | 0.682844178 | 0.717922 | 0.691657 | 12.PM | NI/Sales | -0.064448746 | -0.05795 | -0.10648 | 13.TAT | sales/TA | 1.46446295 | 1.392909 | 1.445804 | 14. ROA | NI/TA | -0.094382801 | -0.08073 | -0.15395 | 15. ROE | NI/OE | -0.527686807 | -0.30411 | -0.50697 | 2nd Assignment Loan Amortization Problem Note： First name | Middle name | Last name | Number of letters in full name | Loan amount | Interest rate | Yixin | | Zhang | 10 | 150000 | 12% | A: CURRENT MONTHLY PAYMENT N=30*12=360 PV=150000 I/Y=12% /12=1% FV=0 PMT=1542.918895 B: TOTAL INTEREST PAY 1542.918895x30x12-150000=405450.80 C: Month | Beginning Balance | Payment | Interest Payment | Principal Payment | Ending Balance | 1 | 150000.000000 | 1542.918895 | 1500.000000 | 42.918895 | 149957.081105 | 2 | 149957.081105 | 1542.918895 | 1499.570811 | 43.348084 | 149913.733021 | 3 | 149913.733021 | 1542.918895 | 1499.137330 | 43.781565 | 149869.951456 | 4 | 149869.951456 | 1542.918895 | 1498.699515 | 44.219380 | 149825.732076 | 5 | 149825.732076 | 1542.918895 | 1498.257321 | 44.661574 | 149781.070502
Both Troy and Matt will be given 15% ownership in the company and will also double as investors. Troy will handle the onsite management of the crews sent out to different job sites, he will coordinate what crews go to which site and when. Matt will handle the marketing as well as Human Resources, these are both a perfect job for him as he has degrees in both. I will own 60%, the other 10% will go to a silent investor, of the company leaving me the ability to make decisions that I feel are in the best interest of the company. I will be in charge of hiring the crews and training them in the correct techniques so that everything is done universally the same way throughout the company.