Questions from General Accounting


Q: The following data are accumulated by Paxton Company in evaluating the purchase

The following data are accumulated by Paxton Company in evaluating the purchase of $150,000 of equipment having a four-year useful life: a. Assuming that the desired rate of return is 15%, determine...

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Q: What three categories of manufacturing costs are included in the cost of

What three categories of manufacturing costs are included in the cost of finished goods and the cost of work in process?

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Q: Describe sustainability and sustainable business practices.

Describe sustainability and sustainable business practices.

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Q: Aaron McKinney is a cost accountant for Majik Systems Inc. Martin

Aaron McKinney is a cost accountant for Majik Systems Inc. Martin Dodd, vice president of marketing, has asked Aaron to meet with representatives of Majik Systems’ major competitor to discuss pro...

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Q: Selected transactions completed by Kornett Company during its first fiscal year ended

Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y8, were as follows: Jan. 3. Issued a check to establish a petty cash fund of $4,500. Feb. 26. Re...

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Q: For the coming year, Culpeper Products Inc. anticipates a unit

For the coming year, Culpeper Products Inc. anticipates a unit selling price of $150, a unit variable cost of $110, and fixed costs of $800,000. Instructions 1. Compute the anticipated break-even s...

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Q: Last year Parr Co. had sales of $900,000

Last year Parr Co. had sales of $900,000, based on a unit selling price of $200. The variable cost per unit was $125, and fixed costs were $225,000. The maximum sales within Parr Co.’s relevant range...

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Q: Data related to the expected sales of two types of frozen pizzas

Data related to the expected sales of two types of frozen pizzas for Norfolk Frozen Foods Inc. for the current year, which is typical of recent years, are as follows: The estimated fixed costs for t...

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Q: Parisian Cosmetics Company is planning a one-month campaign for September

Parisian Cosmetics Company is planning a one-month campaign for September to promote sales of one of its two cosmetics products. A total of $140,000 has been budgeted for advertising, contests, redeem...

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Q: AM Express Inc. is considering the purchase of an additional delivery

AM Express Inc. is considering the purchase of an additional delivery vehicle for $55,000 on January 1, 20Y1. The truck is expected to have a five-year life with an expected residual value of $15,000...

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