Monthly Archives: April 2013

1. A simple structure is characterized by (Points : 5)

ACCOUNTING MULTIPLE CHOICE 1. A simple structure is characterized by (Points : 5) 2. Complete the following sentence: “Virtual organizations __________ whereas modular organizations __________.” (Points : 5) 3. The phrase that best defines a virtual organization is (Points : … Continue reading

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(Ignore income taxes in this problem.) Janes, Inc., is considering the purchase of a machine that would cost $430,000 and would last for 6 years, at the end of which, the machine would have a salvage value of $47,000

ACCOUNTING (Ignore income taxes in this problem.) Janes, Inc., is considering the purchase of a machine that would cost $430,000 and would last for 6 years, at the end of which, the machine would have a salvage value of $47,000. … Continue reading

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Durkee Corporation keeps careful track of the time required to fill orders

ACCOUNTING Durkee Corporation keeps careful track of the time required to fill orders. The times required for a particular order appear below: Wait time…….. Hours: 10.7 Process time……Hours: 0.9 Inspection time…… Hours: 0.4 Move time …… Hours: 2.3 Queue time … Continue reading

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You are the vice-president of finance for Exploratory Resources, headquartered in Houston, Texas

ACCOUNTING You are the vice-president of finance for Exploratory Resources, headquartered in Houston, Texas. In January 2007, your firm’s Canadian subsidiary obtained a six-month loan of 100,000 Canadian dollars from a bank in Houston to finance the acquisition of a … Continue reading

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Explain the functions of the following agencies

ACCOUNTING Explain the functions of the following agencies: a. Overseas Private Investment Corporation (OPIC) b. Export-Import Bank (Eximbank) c. Foreign Credit Insurance Association (FCIA) d. International Finance Corporation (IFC) Click here for the SOLUTION

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The Wall Street Journal reported the following spot and forward rates for the Swiss franc

ACCOUNTING The Wall Street Journal reported the following spot and forward rates for the Swiss franc: Spot……………………$0.7876 30-day forward………$0.7918 90-day forward……… $0.7968 180-day forward………$0.8039 a. Was the Swiss franc selling at a discount or a premium in the forward market? … Continue reading

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Fabricator Inc., a specialized equipment manufacturer, uses a job order costing system

ACCOUNTING Fabricator Inc., a specialized equipment manufacturer, uses a job order costing system. The overhead is allocated to jobs on the basis of direct labor hours. The overhead rate is now $ 3,000 per direct labor hour. The design engineer … Continue reading

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Hoover Inc. uses a job‐order coding system

ACCOUNTING Hoover Inc. uses a job‐order coding system. The company’s inventory balances on February 1, the start of its fiscal year, were as follows: Raw Materials Inventory $69,325 Work in Process Inventory $55,100 Finished Goods Inventory $81,256 During the year, … Continue reading

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(Nineteen measures of solvency and profitability) The comparative financial statements of Caylay Technologies Inc. are as follows

ACCOUNTING (Nineteen measures of solvency and profitability) The comparative financial statements of Caylay Technologies Inc. are as follows. The market price of Caylay Technologies Inc. common stock was $40 on December 31, 2010. Caylay Technologies Inc. Comparative Retained Earnings Statement … Continue reading

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(Underapplied or overapplied overhead) At the end of 2013, Dub’s Wind Generator Co. had a $40,000 debit balance in its manufacturing overhead control account

ACCOUNTING (Underapplied or overapplied overhead) At the end of 2013, Dub’s Wind Generator Co. had a $40,000 debit balance in its manufacturing overhead control account. Overhead is applied to products based on direct labor cost. Relevant account balance information at … Continue reading

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