journals are recorded in the DR/CR columns Where there are a large number of journals it is common to number them 1‚2‚3 etc Purpose- to remove the parent’s investment in the subsidiary and the effect of all inter-entity transactions so that the final column shows an “external view” The consolidation process Consolidation worksheets (2) • Before consolidating‚ it may be necessary to adjust subsidiary’s financial statements where: 1. the subsidiary’s balance date is different to the parent’s
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ABORTIONSource 1Title: The "Necessary Evil" Argument Does Not Justify Abortion: Clarke D. ForsytheOpposing Viewpoints: Abortion. Ed. Mary E. Williams. San Diego: Greenhaven Press‚ 2002. Source Citation:Forsythe‚ Clarke D. "The ’Necessary Evil’ Argument Does Not Justify Abortion." Opposing Viewpoints: Abortion. Ed. Mary E. Williams. San Diego: Greenhaven Press‚ 2002. Opposing Viewpoints Resource Center. Gale. Apollo Library. 23 June 2008 . 1Identify the principal issue presented by the source.
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The following cost data for the year just ended pertain to Heartstrings‚ Inc.‚ a greeting card manufacturer: Service department costs * ……………………………………. $ 50‚000 Direct labor: wages ……………………………………………. 242‚500 Direct labor: fringe benefits …………………………………… 47‚500 Indirect labor: fringe benefits …………………………………. 15‚000 Fringe benefits for production supervisor ……………………. 4‚500 Total overtime premiums paid ……………………………….. 27‚500 Cost of idle time: production employees § …………………… 20‚000 Administrative
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Perpetual Inventory System "The perpetual inventory system is best suited for the sort of enterprises that usually keep a high inventory and have a high turnover. It is also well suited for the type of industries where there isn’t much processing to do‚ so the inventory exists at only one level (for sale) rather than at three levels (raw materials‚ work in progress and for sale). It is well suited for the fact that inventory checking is an important part of the operations of this industry
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the highest net income for 25th Century? Why? ------------------------------------------------- E-15 Measuring and journalizing inventory and cost of goods sold in a perpetual system—FIFO [20–25 min] Putter’s Paradise carries an inventory of putters and other golf clubs. Putter’s Paradise uses the FIFO method and a perpetual inventory system. The sales price of each putter is $135. Company records indicate the following for a particular line of Putter’s Paradise putters: Date | Item | Quantity
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Chapter 1. 5. What does the statement “costs can be assets or expenses” mean? 6. Why are the salaries of production workers accumulated in an inventory account instead of being expensed on the income statement? 7. How do product costs affect the financial statements? How does the classification of product cost (as an asset vs. an expense) affect net income? ATC 1-1 | Business Applications Case | Financial versus managerial accounting | The following information was taken from the 2008
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ACCT WINTER 2014 FINAL EXAM Name: Rajvi Pandya Date:12/17/2014 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) All of the following are factors in contributing to the increase in cybercrime except: 1) A) the ability to anonymously access the Internet. B) the Internet’s similarity to telephone networks. C) the ability
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Elements of Design Rachel Lawrence ENG 225 Instr. Mr. Imani Muhammad Aug. 05‚ 2013 This paper will cover the elements of design of the movie “300”‚ it was released in 2007 and the movie was directed by Zack Snyder. Snyder desired to create a world from a popular illustrative novel that gives extraordinary images. To do this‚ the film was shot indoors utilizing green screen that helped to build the world that he imagined. He also added grains and lens flares to the film because he desired
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ACCT 2102 Summer 2010 Final Exam – Version A Name:___________________________ Instructor:________________________ The exam is 42 questions worth 7.5 points apiece. Maximum score is 300 SELECT THE BEST ANSWER. MARK THE SCANTRON WHEN YOU ARE COMPLETELY FINISHED (to avoid erasures). ANSWERS RECORDED ON THE SCANTRON ARE FINAL. THE BOOK EXHIBIT OF IMPORTANT FINANCIAL RATIOS IS ATTACHED TO THIS EXAM. USE THESE RATIOS FOR THE EXAM CALCULATIONS. Use the information for Pets‚ Inc. (provided separately)
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The Church has held Mary’s perpetual virginity as a dogma‚ and it is also true that it has brought about distrust and doubt. This skepticism towards Mary’s virginity has grown through out the history of man kind. At the very heart of this dogma lies the credence of the Church and of the Magisterium‚ who have the proficiency to maintain Mary’s perpetual virginity as an absolute truth. This upholding has perpetually led to the debate of whether Mary‚ Mother of Jesus‚ was in fact a virgin through out
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