Stronger satellites accepted a five-month
Stronger Satellites accepted a five-month, 7% interest rate, $6,000 note from one of its customers on June 1, 2008. The entire balance is payable at the note's maturity. Prepare the June 30 adjusting journal entry related to this note.
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Diane uses the lower of cost or market rule for its wholesale inventories. Explain the theoretical arguments for that rule. (b) The replacement cost of the inventories is below the net realizable value less a normal profit margin.
McNamee Juices sells products in the health-food industry. McNamee sold Johnny Mac merchandise for $5,000 on account. Johnny Mac ran into a cash crunch and was able to pay.
Calcium Cardboard Supply agreed to accept a four-month, 10% interest rate, $12,000 note from Knox Inc. on April 1, 2008. How much interest will Calcium Cardboard Supply accrue for the month of April?
Explain what could have happened on A, B, C, D, how the above variances could explain the following:Write a short memo explaining how management could use variance analysis to improve productivity
Huey Concrete Co. pours concrete slabs for single-family dwellings. Tudor Construction Co, which operates outside Huey's normal sales territory, asks Huey to pour 40 slabs for Tudor's new development of homes.
George Masonry accepted a four-month, 10% interest, $1,800 note from Earth Tones on July 1, 2008. The entire balance is payable at the note's maturity.
Imagine managerial accounting did not exist. Suggest what would or would not occur and describe the implications with a specific example to illustrate your point.
Standard overhead per direct labor hour bsed on normal monthly capacity of $30,000 hours: fixed (270,00/30,000 hours).... $9variable (660,000/30,000 hours) ........ 22 ......$31.00.
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