Final

6. What information should be given to B.J. about the expected duration of hormone therapy and monitoring of treatment efficacy?

3. On the basis of the responses to Question 1 and 2, what are the units of accounting in this arrangement?

You use a perpetual inventory system and value the inventory using FIFO. Prior to making adjusting year-end entries you valued the inventory at the lower-of-cost or-market. Justify why you valued the inventory at lower-of-cost or-market.

4. What inventory method is used to value inventories? Does this method reflect current cost at year-end?

6. Montana Inc.'s fiscal year ended on December 31, 2012. The balance in the prepaid insurance account as of December 31, 2012, was $34,800 (before adjustment) and consisted of the following policies:

3. Assuming the average value of flight equipment that Delta had in 1993, how much of a difference do the depreciation assumptions it adopted on April 1, 1993 make? How much more or less will its annual depreciation expense be compared to what it would be were it using Singapore’s depreciation assumptions?

In the current situation, the order is set to every Monday which means a total number of 50 orders for the whole period, and the average Inventory calculated from the given data is 5 units. Therefore, total cost of the current situation calculation will be as follows:

8. Using the ABC data, compute the average contribution to profit per account for both retail and business customers. What business strategy would be a manager using the ABC cost system likely adopt? How does this result compare to your response to Requirement 1, Part E?

Determine the appropriate amount of depreciation for 2013 and 2014 applying each of the following methods:

Refer to Case 5.2. Which of the following is the journal entry the Limited would make on June 1 for the credit sale?

Assume that the average total inventory per store for the entire 2003 fiscal year was ￥4 million, which is $0.3675 million

This is a project analysis of my favorite women clothing stores; New York and Company, Ann, Inc. and Express, Inc. The different inventories methods used by companies are LIFO, FIFO, and weighted-average. The accounting method used by these three companies and most retail industries is weighted average. This means that the company determines average cost for the units on hand and applies that average unit cost to the next sale to determine the cost of goods sold. (Ann Inc. Annual Report , 2015). Depreciation and amortization are computed on a straight line basis for all three companies. (Ann Inc. Annual Report , 2015), (Express, Inc. Annual Report, 2015), (New York and Company Annual Report, 2015). Ann, Inc. PPE useful life of buildings is up to 40 years, Leasehold Improvements is 10 years or shorter, furniture/fixtures is 2-10 years, and software is 5 years. (Ann Inc. Annual Report , 2015). Express, Inc. PPE useful life of buildings is 6-30 years, leasehold improvements is no longer than 15 years, furniture/fixtures is 5-7 years and software is 3-7 years. (Express, Inc. Annual Report, 2015). New York and Company PPE useful life for land, fixtures, and equipment is 3-10 years, office equipment is 3-15 years, and software is 5 years. (New York and Company Annual Report, 2015).

2. System designed for inventory costing purposes. Have to allocate costs. For performance measurement purposes, not sure if the allocations mean anything.

A computer was purchased for £5,000 and the life of the computer is expected to be three years with a residual value of £800. The total amount to be depreciated will be £4,200 (£5,000-800). To determine the amount of depreciation per year, the following equation should be used: £4,200/3 = £1,400 pa.

(a) Use the relevant t-account(s) to calculate cash paid for the purchase of Motor Vehicle