Author Archives: winged_envoy3

Duif Company’s absorption costing income statement for the last year of operations is presented below

Duif Company’s absorption costing income statement for the last year of operations is presented below: Sales…………………………………………………$70,000 Less cost of goods sold: Beginning inventory………………………………………. 0 Add cost of goods manufactured………………48,000 Goods available for sale………………………….48,000 Less ending inventory………………………………6,000 Cost of goods sold………………………………..42,000 … Continue reading

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Collins Office Supplies is considering a more liberal credit policy to increase sales, but expects that 9 percent of the new accounts will be uncollectible

Collins Office Supplies is considering a more liberal credit policy to increase sales, but expects that 9 percent of the new accounts will be uncollectible. Collection costs are 5 percent of new sales, production and selling costs are 78 percent, … Continue reading

Posted in Axia, CheckPoint, Collins Office Supplies, Credit Policy Decisions, Fin 200, Foundations of Financial Management, solution, University of Phoenix, UoP, Week 6 | Comments Off

Midland Chemical Co is negotiating a loan from Manhattan Bank and Trust

Midland Chemical Co. is negotiating a loan from Manhattan Bank and Trust. The small chemical company needs to borrow $500,000. The bank offers a rate of 8¼ percent with a 20 percent compensating balance requirement, or as an alternative, 9¾ … Continue reading

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The following defined pension data of Rydell Corp. apply to the year 2010

The following defined pension data of Rydell Corp. apply to the year 2010. For 2010, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. Projected … Continue reading

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The current sections of Bellinham Inc.’s balance sheets at December 31, 2009 and 2010, are presented here

ACCOUNTING The current sections of Bellinham Inc.’s balance sheets at December 31, 2009 and 2010, are presented here. Bellinham’s net income for 2010 was $153,000. Depreciation expense was $24,000. 2010 2009 Current assets Cash $105,000 $99,000 Accounts receivable 110,000 89,000 … Continue reading

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Anna Bellatorre, Inc. manufactures five models of kitchen appliances at its Mesa plant

Exercise 4-10 (E4-10) Identify activity cost drivers. Anna Bellatorre, Inc. manufactures five models of kitchen appliances at its Mesa plant. The company is installing activity-based costing and has identified the following activities performed at its Mesa plant. 1. Designing new … Continue reading

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