Define the following using your own words and give examples To credit Debit Credit
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A: Formula: Variable cost per tons= (Highest activity cost - Lowest activity cost) / (Highest activity…
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A: An intercompany sale is a sale that takes place between the parent company and the subsidiary…
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A: Interest expense is the expense incurred by the company on the borrowed amount.
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A: The production cost of a includes the cost related incurred to produce the goods. The nonproduction…
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A: Exchange rate refers to" the price of a country's money in relation to another country's money."An…
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A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…
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A: Formulas: Net realizable value of the receivables = Ending Accounts receivable - Ending Allowance…
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A: Raw materials are the components which are used for the production of finished goods. Manufacturing…
Q: Minor Company had checks outstanding totaling $5,145 on its April bank reconciliation. In May, Minor…
A: Bank reconciliation statement is used to determine the differences between the bank statement…
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A: 14. revised net income= 6000*110% = $ 6600 residual earnings = net income - bookvalue *cost of…
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A: Depreciation represents the reduction in the value of an asset over a useful life of the asset. It…
Q: ed. 300 shares for cash at $15 per share. easury shares for cash at $17 per share. asury shares for…
A: Treasury Stock is stock repurchased and held by the company. It is an contra equity account that is…
Q: Describe how the matching principle applies to contingent liabilities (hint: warranties).
A: Introduction:- Contingent liability may or may not occurred in the future. Matching principles…
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A: If the market rate of interest is less than the Coupon rate stated on issue of Bonds, the bonds will…
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A: Here discuss about the details of financial crisis which are involved with the General Motors (GM)…
Q: 1-Drop: Traditional versus Activity-Based Analysis Nutterco, Inc., produces two types of nut butter:…
A: Contribution margin takes into consideration variable expense only. Operating Income takes into…
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A: To find break even point, first we need to calculate to tal fixed costs and then contribution…
Q: A machine costing $76,695 with a 7-year life and $72,348 depreciable cost was purchased January 1.…
A: Depreciation refers to a decrease in value of asset over its useful life due to wear and tear and…
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A: * As per Bartleby policy, in case different multiple questions are asked then answer first only.…
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A: Answer:- 4 Characterization of cost components:- 1. Materials:- The cost of the materials needed to…
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A: Closing costs refers to the expenses and fees paid by the buyers and sellers of a real estate…
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A: A record is often recorded in the main ledger; however, it may also be entered in a subsidiary…
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A: Unqualified audit report: This audit report is given by the auditor when the financial statements…
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A: Assets: Assets are the resources of companies which are acquired for availing the long term benefits…
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A: Introduction:- Winding up is the process of closing of business operations. It means creases of…
Q: SHOW YOUR SOLUTION IN GOOD ACCOUNTING FORM. THANK YOU. What amount should be recorded as…
A: Depreciation is the allocation of cost of asset over the useful life of the asset. There are several…
Q: [The following information applies to the questions displayed below.] Organic Food Company's Cash…
A: The bank reconciliation statement is prepared by company to adjust the balance of cash book to match…
Q: Fixed costs that management can decide not to incur at any time are: always variable.…
A: Fixed Costs are the costs that does not vary with the change in output or sales. These costs remain…
Q: QUESTION 36 The following information is available for Sweet Dairy Air, Inc. The Purchasing…
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A: Differential cost represents the cost that arose between two alternatives. Basically, the cost is…
Q: ue. The cash flows that would be produced by the machine are (Ignore income taxes): Net Cash…
A: Payback period is the period within which the initial investment is recovered . It is the time taken…
Q: Record the following transactions in the general journal.
A: RRR has started a merchandising business under the name of WEEN Trading. We are given transactions…
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A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…
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A: If the special order is covered under the capacity of the business entity then the fixed cost…
Q: PA6. LO 14.2 EllaJane Corporation was organized several years ago and was authorized to issue…
A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…
Q: On January 1, the Matthews Band pays $67,600 for sound equipment. The band estimates it will use…
A: Lets understand the basics. In straight line basis, depreciation is calculated in equal installment…
Q: 2. All of the following are inventoried under variable costing, except A. Direct materials. B.…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Problem 14-57 (Algo) Compare Historical, Net Book Value to Gross Book Value, Residual Income (LO 14-…
A: Residual income is the amount left after paying of cost of capital out of the operating profit.
Q: PROBLEM 2: ALCOGIN CORP inventories for the month of March were as follows: March 1 March 31 Direct…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: 1.On June 1, P8,000 of goods are sold with credit terms of 1/10, n/30. On June 3 the customer…
A: When goods are sold on discount with credit terms of 1/10, n/30, the discount allowed will be 1% of…
Q: A machine with a cost of $63,210.00 has an estimated residual value of $4,731.00 and an estimated…
A: Unit of Output method Unit of production depreciation, also called as activity method, calculates…
Define the following using your own words and give examples
- To credit
- Debit
- Credit
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