Matthew Robins Reported The Following Information For 2016 And 2017: Salaries Payable, 30 June

Matthew Robins reported the following information for 2016 and 2017: Salaries payable, 30 June 2016 $32 000 Salaries payable, 30 June 2017 $14 000 Salaries expense—2016/17 financial year $95 000 How much cash was paid for salaries during 2016/17 financial year? $113 000 $90 000 $101 000 $65 000

Boccardi Inc., Has Invested In New Pasta Manufacturing Equipment At A Cost Of $48,000.

Boccardi Inc., has invested in new pasta manufacturing equipment at a cost of $48,000. The equipment has an estimated useful life of eight years. Estimated annual sales and operating expenses related to the pasta equipment follow: Annual sales $ 88,000 Labor costs (72,000 ) Depreciation of equipment (6,000 ) Operating income $ 10,000 Income taxes (4,000 ) Net income $ 6,000 The estimated payback of the investment in the pasta equipment is: 3.0 years. 4.0 years. 6.0 years. 8.0 years.

The Following Selected Transactions Were Completed By Scat Trak Company During July Of The

The following selected transactions were completed by Scat Trak Company during July of the current year: July 1. Purchased merchandise from Kermit Co., $18,750, terms FOB destination, n/30. 3. Purchased merchandise from Basaway Co., $12,150, terms FOB shipping point, 2/10, n/eom. Prepaid transportation costs of $180 were added to the invoice. 4. Purchased merchandise from Phillips Co., $13,800, terms FOB destination, 2/10, n/30. 6. Issued debit memorandum to Phillips Co. for $1,900 of merchandise returned from purchase on July 4. 13. Paid Basaway Co. for invoice of July 3, less discount. 14. Paid Phillips Co. for invoice of July 4, less debit memorandum of July 6 and discount. 19. Purchased merchandise from Cleghorne Co., $18,000, terms FOB shipping point, n/eom. 19. Paid transportation charges of $500 on July 19 purchase from Cleghorne Co. 20. Purchased merchandise from Graham Co., $9,000, terms FOB destination, 1/10, n/30. 30. Paid Graham Co. for invoice of July 20, less discount. 31. Paid Kermit Co. for invoice of July 1. P/S Record these transactions from beginning to the end of accounting cycle : – vouchers -double entry -financiall transaction

Why Are Adjustments Required To The Subsidiaries Assets And Liabilities If The Carrying Amounts

Why are adjustments required to the subsidiaries assets and liabilities if the carrying amounts are not equal to fair value in the preparation of consolidated financial statements?

The Comparative Balance Sheets For 2018 And 2017 Are Given Below For Surmise Company.

The comparative balance sheets for 2018 and 2017 are given below for Surmise Company. Net income for 2018 was $70 million. SURMISE COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) 2018 2017 Assets Cash $ 26 $ 32 Accounts receivable 84 96 Less: Allowance for uncollectible accounts (19 ) (4 ) Prepaid expenses 14 11 Inventory 132 115 Long-term investment 104 70 Land 88 88 Buildings and equipment 359 245 Less: Accumulated depreciation (122 ) (98 ) Patent 20 22 $ 686 $ 577 Liabilities Accounts payable $ 14 $ 32 Accrued liabilities 3 15 Notes payable 38 0 Lease liability 107 0 Bonds payable 59 117 Shareholders’ Equity Common stock 64 50 Paid-in capital—excess of par 259 205 Retained earnings 142 158 $ 686 $ 577 Required: Prepare the statement of cash flows of Surmise Company for the year ended December 31, 2018. Use the indirect method to present cash flows from operating activities because you do not have sufficient information to use the direct method. You will need to make reasonable assumptions concerning the reasons for changes in some account balances. A spreadsheet or T-account analysis will be helpful. (Hint: The right to use a building was acquired with a seven-year lease agreement. Annual lease payments of $7 million are paid at January 1 of each year starting in 2018.)

Record The Following Transactions Of Allen Inc.: (Round Your Answers To 2 Decimal Places)

Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $5,000, trade discounts of 30% and 20%; terms 3/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185. Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $5,000, trade discounts of 30% and 20%; terms 3/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185. date general journal debit credit 3/8 date general journal debit credit 3/17

Compute Return On Net Operating Assets (RNOA) Round Answers To Two Decimal Places (percentage

Compute return on net operating assets (RNOA) Round answers to two decimal places (percentage ex: 0.12345 = 12.35%) RNOA= Net operating profit after taxes/ Average of Net operating assets net operating assets= operating assets – operating liabilites What is RNOA? please show calulation

In This Unit We Learned To Describe Social Security And Its Benefits, Establish The

In this unit we learned to describe Social Security and its benefits, establish the most appropriate type of retirement plan for a given client or business owner, and recognize the suitability of an investment for a given retirement plan. Lets extend the discussion by examining the practical implications of these concepts. Dawn and Mildred had the same starting sum of $120,000. Each made withdrawals of $24,000 a year. In years 2, 3, and 4, each had returns of 9 percent a year. Dawn had a 50 percent drop in year 1 and a 50 percent gain in year 5, while Mildred had a 50 percent gain in year 1 and a 50 percent drop in year 5. Calculate the remaining sum for each woman at the end of year 5. Please explain.

On January 1, 2017, ABC Industries Had Stock Outstanding As Follows. 6% Cumulative Preferred

On January 1, 2017, ABC Industries had stock outstanding as follows. 6% cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares – $960,000 Common stock, $10 par value, issued and outstanding 183,000 shares – $1,830,000 To acquire the net assets of three smaller companies, ABC authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below. Date of Acquisition: Shares Issued: Com. A, April 1, 2017 48,000 Com. B, July 1, 2017 80,400 Com. C, Oct 1, 2017 30,000 On May 14, 2017, ABC realized a $92,400 (before taxes) insurance gain on discontinued operations. On December 31, 2017, ABC recorded income of $320,400 from continuing operations (after tax). Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of ABC Industries as of December 31, 2017. Round to two decimal places and show all calculations. The Income Statement will be formatted as: ABC Industries Income Statement For the Year Ended December 31, 2017 Income from Continuing Operations   $______ Discontinued Operations Gain, Net of Tax $______ Net Income/Loss $______

Melville, A Listed Engineering Company, Manufactures Large Scale Plant And Machinery For Industrial Companies.

Melville, a listed engineering company, manufactures large scale plant and machinery for industrial companies. Until ten years ago, Melville Limited pursued a strategy of organic growth. Since then, it has followed an aggressive policy of acquiring smaller engineering companies, which it feels have developed new technologies and methods, which could be used in its manufacturing processes. However, it is estimated that only between 30% and 40% of the acquisitions made in the last ten years have successfully increased the company’s shareholder value. Melville Limited is currently considering acquiring Lochinvar, an unlisted company, which has three departments. Department A manufactures machinery for industrial companies, Department B produces electrical goods for the retail market, and the smaller Department C operates in the construction industry. Upon acquisition, Department A will become part of Melville, as it contains the new technologies which Melville is seeking, but Departments B and C will be unbundled, with the assets attached to Department C sold and Department B being spun off into a new company called Ndege Co. Given below are extracts of financial information for the two companies for the year ended 30 April 2014. Melville Co Lochinvar Co R Million R Million Sales revenue 790·2 124·6 Profit before depreciation, interest and tax (PBDIT) 244·4 37·4 Interest 13·8 4·3 Depreciation 72·4 10·1 Pre-tax profit 158·2 23·0 Non-current assets 723·9 98·2 Current assets 142·6 46·5 7% unsecured bond – 40·0 Other non-current and current liabilities 212·4 20·2 Share capital (50c/share) 190·0 20·0 Reserves 464·1 64·5 Share of current and non-current assets and profit of Melville Co’s three departments: Department A Department B Department C Share of current and non-current assets 40% 40% 20% Share of PBDIT and pre-tax profit 50% 40% 10% Other information (i) It is estimated that for Department C, the realisable value of its non-current assets is 100% of their book value, but its current assets’ realisable value is only 90% of their book value. The costs related to closing Department C are estimated to be R3 million. (ii) The funds raised from the disposal of Department C will be used to pay off Lonchivar Co’s other non-current and current liabilities. (iii) The 7% unsecured bond will be taken over by Ndege Co. It can be assumed that the current market value of the bond is equal to its book value. (iv) At present, around 10% of Department B’s PBDIT come from sales made to Department C. (v) Ndege Co’s cost of capital is estimated to be 10%. It is estimated that in the first year of operation Ndege Co’s free cash flows to firm will grow by 20%, and then by 5·2% annually thereafter. (vi) The tax rate applicable to all the companies is 20%, and Ndege Co can claim 10% tax allowable depreciation on its non-current assets. It can be assumed that the amount of tax allowable depreciation is the same as the investment needed to maintain Ndege Co’s operations. (vii) Melville Co’s current share price is R3 per share and it is estimated that Lochinvar Co’s price-to-earnings (PE) ratio is 25% higher than Melville Co’s PE ratio. After the acquisition, when Department A becomes part of Melville Co, it is estimated that Melville Co’s PE ratio will increase by 15%. (viii) It is estimated that the combined company’s annual after-tax earnings will increase by R7 million due to the synergy benefits resulting from combining Melville Co and Department A. Required: Showing all relevant calculations, Calculate the maximum premium Melville Co. could pay to acquire Lonchivar Co, explaining the approach taken and any assumptions made (14 marks)

Dolby Enterprises Has The Option To Invest In Machinery In Projects M And N

Dolby Enterprises has the option to invest in machinery in Projects M and N but finance is only available to invest in one of them. Project M (R) Project N (R) Initial cost 450 000 450 000 Net Profit Year 1 36 000 69 000 Year 2 75 000 69 000 Year 3 102 000 69 000 Year 4 129 000 69 000 Year 5 81 000 69 000 1.Assume that all cash flows take place at the end of the year except the original investment in the project which takes place at the beginning of the project. 2. Project M machinery is expected to be disposed of at the end of year 5 with a scrap value of R60 000. 3. Project N machinery is expected to be disposed of at the end of year 5 with a nil scrap value. 4. Depreciation is calculated on a straight-line basis. 5. The discount rate to be used by the company is 12%. 5.1 Required: Use the information provided above by Dolby Enterprises to answer the following questions: 5.1.1 Calculate the Payback Period of Project N. (Answer must be expressed in years and months.) 5.1.2 Calculate the Accounting Rate of Return (on average investment) of Project M. (Answer must be expressed to two decimal places.) 5.1.3 Calculate the Net Present Value of each project. (Round off amounts to the nearest Rand.) 5.1.4 Using your answers from question 5.1.3, which project should be chosen? Why? 5.2 A machine with a purchase price of R418 000 is estimated to eliminate manual operations and save the company R130 000 cash per year. The machine will last 5 years and have no residual value at the end of its useful life. Required: Calculate the Internal Rate of Return (answer expressed to two decimal places).

Assignment Question Part B – Business Combinations And Consolidation: Wholly Owned Entities ‘X’ Ltd

Assignment Question Part B – Business combinations and Consolidation: wholly owned entities ‘X’ Ltd acquired all the issued shares (ex dividend) of ‘Y’ Ltd on 1 July 2017 for $24,600. At this date the equity of ‘Y’ Ltd consisted of the following. Share Capital $13,000 General Reserve 5,000 Retained Earnings 4,050 At the acquisition date all the identifiable assets and liabilities of ‘Y’ Ltd were recorded at amounts equal to the fair value except for the following. Carrying amount Fair value Plant (cost $23,000 $20,000 $21,000 Land 10,000 12,000 Inventories 3,000 3,800 The plant was considered to have a further 5-year life. The plant was sold for $15,500 on 1 January 2019. The land was sold on 1 February 2018 for $15,000. The inventories were all sold by 30 June 2018. Also, at acquisition date ‘Y’ Ltd had recorded a dividend payable of $700 and goodwill (net of accumulated impairment losses of $1,300) of $500. ‘Y’ Ltd had not recorded some internally generated brands that ‘X’ Ltd considered to have a fair value of $1,200. The brand was considered to have an indefinite life. Also not recorded by ‘Y’ Ltd was a contingent liability relating to a current court case in which ‘Y’ Ltd was involved and a supplier was seeking compensation. ‘X’ Ltd placed a fair value of $1,500 on this liability. This court case was settled in May 2019 at which time ‘Y’ Ltd was required to pay damages of $1,600. In February 2018, ‘Y’ Ltd transferred $2,000 from the general reserve on hand at 1 July 2017 to retained earnings. A further $1,500 was transferred in February 2019. Both companies have an equity account entitled ‘Other components of equity’ that recognise certain gains and losses from financial assets. At 1 July 2018, the balances of these accounts were $3,000 for ‘X’ Ltd and $1,500 for ‘Y’ Ltd. The financial statements of the two companies at 30 June 2019 contained the following information. ‘X’ Limited ‘Y’ limited Revenues 13,000 6,400 Expenses (7,000) (4,200) Trading profit 6,000 2,200 Gains (losses) on sale of non-current assets 3,000 800 Profit before tax 9,000 3,000 Income tax expense (2,000) (500) Profit for the period 7,000 2,500 Retained Earnings (1/7/18) 33,300 5,500 Transfer from General reserve 3,000 1,500 43,300 9,500 Dividend paid (2,000) 0 Retained earnings (30/6/19) 41,300 9,500 Share capital 15,000 13,000 General reserve 1,000 2,000 Other component of Equity 2,500 1,800 Total Equity 59,800 26,300 Accounts payable 4,000 1,000 Deferred tax liability 1,800 1,000 Other non-current liabilities 24,800 23,000 Total liabilities 30,600 25,000 Total Equity and liabilities 90,400 51,300 Plant 43,000 38,800 Accumulated Depreciation- Plant (18,200) (22,000) Land 15,000 20,000 Brands 8,000 0 Shares in ‘Y’ limited 24,600 0 Financial Assets 11,000 10,500 Cash 1,000 500 Inventories 4,000 3,000 Goodwill 2,000 1,800 Accumulated Impairment Losses 0 (1,300) Total Assets 90,400 51,300 Required 1. Prepare the acquisition analysis at 1 July 2017. (5 marks) 2. Prepare the consolidation worksheet entries for ‘X’ Ltd’s group at 30 June 2019. (12 marks) 3. Prepare the consolidated worksheet for ‘X’ Ltd’s group at 30 June 2019. (10 marks)

“Starting An Enterprise Is Uncertain By Nature, But You Can Increase Certainty And Decrease

“Starting an enterprise is uncertain by nature, but you can increase certainty and decrease some risk by evaluating potential opportunities using thoughtful processes proven to help you decide which opportunities are better positioned for growth. Determine a market need, develop a solution, evaluate your solution using a variety of methods, and pressure test your idea” (Wharton Business School). In your thoughtful process of your business opportunity, the financial analysis is a robust analysis which connects all the aspects of the business plan, namely, organizational plan, marketing plan, operational plan. Develop your business opportunity for two products taking into the consideration of the MTGs and material provided, you are required to develop a bankable financial plan in excel which comprises of the following sections: – (Total marks for the exam: 100 Preliminaries Cover page with student’s name and ID number, business name, address, contact details and title of each report Possible Mark 1 Sales budget for one year for two products/services 10 2 Sales budget for five years with increase of sales year on year 15 3 Purchase budget for one year 10 4 Cash budget for one year 15 5 Income Statement 10 6 Income statement for five years showing gross profit margin

Marvel Parts, Inc., Manufactures Auto Accessories. One Of The Company’s Products Is A Set

Marvel Parts, Inc., manufactures auto accessories. One of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 990 hours each month to produce 1,980 sets of covers. The standard costs associated with this level of production are: Total Per Set of Covers Direct materials $ 39,798 $ 20.10 Direct labor $ 5,940 3.00 Variable manufacturing overhead (based on direct labor-hours) $ 3,168 1.60 $ 24.70 During August, the factory worked only 1,000 direct labor-hours and produced 2,200 sets of covers. The following actual costs were recorded during the month: Total Per Set of Covers Direct materials (7,400 yards) $ 40,700 $ 18.50 Direct labor $ 8,140 3.70 Variable manufacturing overhead $ 3,960 1.80 $ 24.00 At standard, each set of covers should require 3.0 yards of material. All of the materials purchased during the month were used in production. Required: 1. Compute the materials price and quantity variances for August. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August. (Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all amounts as positive values.)

The Shareholders’ Equity Section Of The 30 June 2017 Statement Of Financial Position For

The shareholders’ equity section of the 30 June 2017 statement of financial position for Inglenook Interiors Ltd before its recent share dividend is as follows: Ordinary shares, (150 000 shares) $500 000 Retained earnings $925 000 Total shareholders’ equity $1 425 000 Inglenook Interiors Ltd declared a 10% share dividend when the market price per share was $7.00. After the share dividend, the components of Inglenook’s shareholders’ equity section were: Ordinary shares $650 000; Retained earnings $805 000 Ordinary shares $605 000; Retained earnings $820 000 Ordinary shares $660 000; Retained earnings $665 000 Ordinary shares $570 000; Retained earnings $855 000

Average Rate Of Return Method, Net Present Value Method, And Analysis The Capital Investment

Average Rate of Return Method, Net Present Value Method, and Analysis The capital investment committee of Ellis Transport and Storage Inc. is considering two investment projects. The estimated income from operations and net cash flows from each investment are as follows: Warehouse Tracking Technology Year Income from Operations Net Cash Flow Income from Operations Net Cash Flow 1 $57,000 $186,000 $120,000 $298,000 2 57,000 186,000 91,000 251,000 3 57,000 186,000 46,000 177,000 4 57,000 186,000 20,000 121,000 5 57,000 186,000 8,000 83,000 Total $285,000 $930,000 $285,000 $930,000 Each project requires an investment of $600,000. Straight-line depreciation will be used, and no residual value is expected. The committee has selected a rate of 10% for purposes of the net present value analysis. Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 Required: 1a. Compute the average rate of return for each investment. If required, round your answer to one decimal place. Average Rate of Return Warehouse % Tracking Technology % 1b. Compute the net present value for each investment. Use the present value of $1 table above. If required, use the minus sign to indicate a negative net present value. Warehouse Tracking Technology Present value of net cash flow total $ $ Less amount to be invested $ $ Net present value $ $ 2. The warehouse has a _____________ net present value as tracking technology cash flows occur______________ in time. Thus, if only one of the two projects can be accepted, the ________________ would be more attractive.

Average Rate Of Return—Cost Savings Midwest Fabricators Inc. Is Considering An Investment In Equipment

Average Rate of Return—Cost Savings Midwest Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $104,000 with a $9,000 residual value and a five-year life. The equipment will replace one employee who has an average wage of $33,590 per year. In addition, the equipment will have operating and energy costs of $10,070 per year. Determine the average rate of return on the equipment, giving effect to straight-line depreciation on the investment. If required, round to the nearest whole percent. %_____________________

Tybee Industries Inc. Uses A Job Order Cost System. The Following Data Summarize The

Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $29,800. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $ 2,960 $2,775 302 3,620 3,750 303 2,400 1,875 304 8,100 6,860 305 5,100 5,250 306 3,750 3,340 For general factory use 1,080 4,100 c. Factory overhead costs incurred on account, $5,500. d. Depreciation of machinery and equipment, $1,980. e. The factory overhead rate is $54 per machine hour. Machine hours used: Job Machine Hours 301 25 302 36 303 30 304 72 305 40 306 25 Total 228 f. Jobs completed: 301, 302, 303 and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,250; Job 302, $11,200; Job 303, $15,000. Required: 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on January 31. Record item g as 2 entries. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account.* 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.* *Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. CHART OF ACCOUNTSTybee Industries Inc.General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Machinery and Equipment 192 Accumulated Depreciation-Machinery and Equipment LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Machinery and Equipment 590 Miscellaneous Expense 710 Interest Expense Amount DescriptionsJob No. 301Job No. 302Job No. 303Job No. 304Job No. 305Job No. 306 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on January 31. Record item g as 2 entries. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. Work in Process Bal. Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. Tybee Industries Inc. Schedule of Unfinished Jobs 1 Job Direct Materials Direct Labor Factory Overhead Total 2 3 4 Balance of Work in Process, January 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Refer to the list of Amount Descriptions list for the exact wording of the answer choices for text entries. Tybee Industries Inc. Schedule of Completed Jobs 1 Job Direct Materials Direct Labor Factory Overhead Total 2

During April, The Production Department Of A Process Manufacturing System Completed A Number

During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 53,000 were in process in the production department at the beginning of April and 210,000 were started and completed in April. April’s beginning inventory units were 60% complete with respect to materials and 40% complete with respect to labor. At the end of April, 63,000 additional units were in process in the production department and were 90% complete with respect to materials and 30% complete with respect to labor.    Compute the number of equivalent units with respect to both materials used and labor used in the production department for April using the FIFO method.

The Following Items Were Reported On The Statement Of Financial Positions And Statement Of

The following items were reported on the statement of financial positions and statement of comprehensive income for Hawkeye Productions: Accounts payable, 30 June 2013 $88 000 Accounts payable, 30 June 2014 $99 000 Operating expenses for the financial year $999 000 How would the change in accounts payable be reported in the operating activities section of Hawkeye Production’s statement of cash flows under the indirect method? As an addition to operating expenses As a deduction from operating expenses As a deduction from total comprehensive income As an addition to total comprehensive income

During 2013, The Accounts Receivable Balance Of Big Buck Business Increased. On Big Buck’s

During 2013, the accounts receivable balance of Big Buck Business increased. On Big Buck’s statement of cash flows, the financial reader would conclude that this increase: is considered only when the operating activities section of a statement of cash flows is prepared under the indirect method is added to sales recognised on the statement of comprehensive income to determine the cash collections from customers during the period is added to total comprehensive income in the operating activities section of a statement of cash flows prepared under the indirect method indicates that Big Buck sold more than it collected in cash during the period

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