Accounting, Chapters 1-13
27th Edition
ISBN: 9781337272100
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 8, Problem 8.16EX
To determine
To identify: The reconciling items.
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Crestwood Industries mixes together sugarcane residue and ethanol. After joint manufacturing costs of $3,500 have been incurred, the mixture separates into two products, biomass fuel and industrial alcohol. At the split-off point, biomass fuel can be sold for $6,500, and the alcohol can be sold for $10,500. The biomass fuel can be further processed at a cost of $7,500 to make bio-bricks, which could be sold for $17,500. The alcohol can be further processed at a cost of $8,500 to make a disinfectant, which could be sold for $16,500.What is the net increase (decrease) in operating income from bio-bricks?need answer
Accounting
Chapter 8 Solutions
Accounting, Chapters 1-13
Ch. 8 - Prob. 1DQCh. 8 - Why should the employee who handles cash receipts...Ch. 8 - Prob. 3DQCh. 8 - Why should the responsibility for maintaining the...Ch. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - The balance of Cash is likely to differ from the...Ch. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - (a) How are cash equivalents reported in the...
Ch. 8 - Internal control elements Identify each of the...Ch. 8 - Prob. 8.1BPECh. 8 - Prob. 8.2APECh. 8 - Prob. 8.2BPECh. 8 - Prob. 8.3APECh. 8 - Prob. 8.3BPECh. 8 - Prob. 8.4APECh. 8 - Prob. 8.4BPECh. 8 - Prob. 8.5APECh. 8 - Prob. 8.5BPECh. 8 - Sarbanes-Oxley internal control report Using...Ch. 8 - Prob. 8.2EXCh. 8 - Prob. 8.3EXCh. 8 - Prob. 8.4EXCh. 8 - Prob. 8.5EXCh. 8 - Prob. 8.6EXCh. 8 - Prob. 8.7EXCh. 8 - Prob. 8.8EXCh. 8 - Prob. 8.9EXCh. 8 - Prob. 8.10EXCh. 8 - Prob. 8.11EXCh. 8 - Entry for cash sales; cash short The actual cash...Ch. 8 - Entry for cash sales; cash over The actual cash...Ch. 8 - Internal control of cash payments Abbe Co. is a...Ch. 8 - Prob. 8.15EXCh. 8 - Prob. 8.16EXCh. 8 - Prob. 8.17EXCh. 8 - Prob. 8.18EXCh. 8 - Prob. 8.19EXCh. 8 - Prob. 8.20EXCh. 8 - Prob. 8.21EXCh. 8 - Prob. 8.22EXCh. 8 - Prob. 8.23EXCh. 8 - Prob. 8.24EXCh. 8 - Prob. 8.25EXCh. 8 - Cash to monthly cash expenses ratio El Dorado Inc....Ch. 8 - Prob. 8.27EXCh. 8 - Prob. 8.28EXCh. 8 - Prob. 8.1APRCh. 8 - Prob. 8.2APRCh. 8 - Prob. 8.3APRCh. 8 - Prob. 8.4APRCh. 8 - Prob. 8.5APRCh. 8 - Prob. 8.1BPRCh. 8 - Prob. 8.2BPRCh. 8 - Prob. 8.3BPRCh. 8 - Prob. 4BPRCh. 8 - Prob. 5BPRCh. 8 - Ethics in Action Tehra Dactyl is an accountant for...Ch. 8 - Ethics in Action During the preparation of the...Ch. 8 - Prob. 8.5CPCh. 8 - Prob. 8.6CPCh. 8 - Prob. 8.7CPCh. 8 - Prob. 8.8CPCh. 8 - Prob. 8.9CP
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- Want Answerarrow_forwardDiego Co. records sinking fund transactions currently and maintains a balance in the retained earnings appropriated for sinking fund account equal to the sinking fund. There is no trustee. The following transactions relate to the company's sinking fund set up for the retirement of its long-term bonds payable.1. In accordance with the terms of the bond indenture, cash in the amount of P18,000,000 is transferred at the end of the first year, from the regular cash account to the sinking fund.2. The sinking fund cash is used to acquire Silang Corp.'s 12%, five-year bonds of 5,000,000 at face value.3. The sinking fund cash is used to acquire 10% P50 par value Melchora Inc. 100,000 preference shares at P80 per share.4. Semi-annual interest is received on the Silang bonds.5. Sinking fund expenses of P200,000 are paid from the fund.6. This sinking fund cash is used to acquire Aquino Co. 10% bonds of P4,000,000, maturing in 4 years at face value plus six months accrued interest.7. Half of the…arrow_forwardTOKYO ended the year with an inventory ofarrow_forward
- Crestwood Industries mixes together sugarcane residue and ethanol. After joint manufacturing costs of $3,500 have been incurred, the mixture separates into two products, biomass fuel and industrial alcohol. At the split-off point, biomass fuel can be sold for $6,500, and the alcohol can be sold for $10,500. The biomass fuel can be further processed at a cost of $7,500 to make bio-bricks, which could be sold for $17,500. The alcohol can be further processed at a cost of $8,500 to make a disinfectant, which could be sold for $16,500.What is the net increase (decrease) in operating income from bio-bricks? answerarrow_forwardWhat is the receivable turnover ratio?arrow_forwardTutor please provide answerarrow_forward
- need help this questionsarrow_forwardWhat is the value of ending inventory?arrow_forwardOn May 10, 2005, Ramirez Company purchased P18,000 worth of merchandise from Valencia Company on account and with the following terms; 1/10, n/30, FOB shipping point. On May 12, 2005, Ramirez paid P360 on the shipment. On May 15, 2005, Ramirez returned P2,000 of merchandise for credit. Final payment was made to Valencia on May 21, 2005. The merchandise was then sold to cash customers for P30,600 on May 24, 2005. Based on the above data, what is the gross profit rate of Ramirez Company? 20% 50% 40% not givenarrow_forward
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