Whispering Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Whispering refers to its two products as prime products and by-products. There is a market for both products, but, as the names imply, the prime products are what Whispering got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typical production run, which costs $59,000, Whispering Inc. produces the following products, which can be sold at the prices shown. Prime products By-products Quantity Produced (a) 1,500 tons 890 tons Sales Price per Ton $50 $5 Because Whispering's customers (the corn processors) count on purchasing top-quality raw material from Whispering, it is important that the company maintains a steady amount of inventory. For this reason, Whispering never completely sells out of its products. For the current production run, managers plan to sell 80% of each product immediately, holding 20% in inventory to carry into the next period. Record the journal entries to recognize the completion of the products through the sale of both products if the production IC-

Whispering Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Whispering refers to its two products as prime products and by-products. There is a market for both products, but, as the names imply, the prime products are what Whispering got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typical production run, which costs $59,000, Whispering Inc. produces the following products, which can be sold at the prices shown. Prime products By-products Quantity Produced (a) 1,500 tons 890 tons Sales Price per Ton $50 $5 Because Whispering's customers (the corn processors) count on purchasing top-quality raw material from Whispering, it is important that the company maintains a steady amount of inventory. For this reason, Whispering never completely sells out of its products. For the current production run, managers plan to sell 80% of each product immediately, holding 20% in inventory to carry into the next period. Record the journal entries to recognize the completion of the products through the sale of both products if the production IC-

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following accounts; Cash Foreign exchange gain Foreign exchange loss Capital Bank Short-term investments Loss on sale of short-term investment Gain on sale of short-term investment RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was 1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: • Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
Define Ethics.
C a s e 1 . J a n e M c D o n a l d , a f i n a n c i a l a n a l y s t f o r C a r r o l l C o m p a n y , h a s p r e p a r e d t h e f o l l o w i n g s a l e s a n d c a s h d i s b u r s e m e n t e s t i m a t e s f o r t h e p e r i o d F e b r u a r y t o J u n e o f t h e c u r r e n t y e a r . M o n t h S a l e s C a s h d i s b u r s e m e n tF e b . $ 5 0 0 $ 4 0 0M a r c h 6 0 0 3 0 0A p r i l 4 0 0 6 0 0M a y 2 0 0 5 0 0J u n e 2 0 0 2 0 0 M c D o n a l d n o t e s t h a t h i s t o r i c a l l y , 3 0 % o f s a l e s h a v e b e e n f o r c a s h . O f c r e d i t s a l e s ,…
remain dwlse
T o p i c : F i n a n c i a l A n a l y s i s G i v e t h r e e p o s s i b l e c a u s e s o f t h e f o l l o w i n g : A d v e r s e d i r e c t m a t e r i a l s p r i c e v a r i a n c e. F a v o r a b l e d i r e c t l a b o r r a t e v a r i a n c e . F a v o r a b l e d i r e c t m a t e r i a l s u s a g e v a r i a n c e. A d v e r s e d i r e c t l a b o r e f f i c i e n c y v a r i a n c e. A n d e x p l a i n ho w y o u w o u l d i d e n t i f y w h i c h v a ri a n c e s t o i n v e s t i g a t e N o t e : A n s w e r s s h o u l d b e q u i t e l o n g f o r m e t o u n d e r t a n d m o r e .
W h a t i s t h e c o s t o f c a p i t a l ? W h a t a r e t h e n e t p r o c e e d s f r o m t h e s a l e o f a b o n d ? W h a t a r e f l o t a t i o n c o s t s , a n d h o w d o t h e y a f f e c t a b o n d ’ s n e t p r o c e e d s ? W h a t p r e m i s e a b o u t s h a r e v a l u e u n d e r l i e s t h e c o n s t a n t - g r o w t h v al u a t i o n ( G o r d o n g r o w t h ) m o d e l t h a t i s u s e d t o m e a s u r e t h e c o s t o f c o m m o n s t o c k e q u i t y , r s ?
Describe EVA.
What is the answer to d e and f?
What about D-J?
E x p l a i n t h e l i m i t a t i o n s o f b r e a k e v e n a n a l y s i s.
dinghe frieThe wdh d