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2 years ago

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An accounting information system (ais) processes to provide users with . data; benefits data; information infor

mation; data data; transactions

1 answer:

Nezavi [6.7K]2 years ago

8 0

Data goes in, information resources come out. Mostly used for financial decision making.

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The bookbinder company has made $150,000 before taxes during each of the last 15 years, and it expects to make $150,000 a year b

allochka39001 [22]

A company can carryback losses up to 3 years. This means that the company can use its 525,000 2015 loss to obtain a credit for income taxes paid in the previous 3 years, 2012-2014. The calculation is as follows:

2012 Carryback: 150,000 x .35 = 52,500

2013 Carryback: 150,000 x .35= 52,500

2014 Carryback: 150,000 x .35 = 52,500

The check that Book Binder receives will be 52,500 x 3 = 157,500.

Its tax liability in 2015 will be zero, and its loss eligible for carryforward will be 525,000-450,000=75,000, since it has already carried back $450,000 of its loss (2012-2014 income).

Its liabilities in future years will be:

2016: (150,000-75,000) x .35 = 26,250. We have now exhausted all tax credits possible from the 2015 loss.

2017-20: 150,000 x .35 = 52,500

4 0

2 years ago

Ryker Manufacturing, inc. provided the following information for the year: The inventory account balances as of January 1 are gi

Licemer1 [7]

Answer:

B. $304,060

Explanation:

We know that

Ending balance of finished goods inventory = Beginning balance of finished goods inventory + Cost of Goods manufactured - Cost of Goods Sold

= $304,560 + $290,500 - $291,000

= $304,060

We simply applied the above formula to compute the ending balance of finished goods inventory by considering the beginning balance of finished goods inventory, cost of goods manufacture and cost of goods sold.

8 0

2 years ago

The purpose of government regulations regarding disclosure of comparable details in product charges and fees is:____________a. B

erastova [34]

Answer:

The correct answer is letter "B": Clients can compare information from different institutions to make informed decisions.

Explanation:

The government puts special emphasis on regulating institutions' disclosures so that core information on benefits and responsibilities are provided to customers before they enter into a contract. By this, clients will be generally aware of what they are engaging in. Besides, they can compare information among different organizations so they can eventually choose the most convenient according to their needs.

4 0

2 years ago

Which of the following, if true, would strengthen the argument to use coercive techniques in this situation?A) The company is on

irinina [24]

Answer:

The correct answer is: the A option

If the company is on a tight deadline to complete a major project for an important client

Explanation:

If the company finds itself in difficult times due to work issues, then this weakens the argument for using coercive techniques.

Now, if the company has the luxury of hiring temporary workers to take care of the backlog and finish it on time, then this could further weaken the need for coercion.

If there is a highly skilled workforce, then the use of coercion can result in a reaction from employees. If employees are demotivated by the rigorous work culture, then the use of coercive techniques would only demoralize them further.

7 0

2 years ago

Lion Company's direct labor costs for the month of January were as follows: What was Lion's direct labor efficiency variance? Se

lakkis [162]

Answer:

Direct labor time (efficiency) variance= $6,150 favorable

Explanation:

Giving the following information:

Lion Company's direct labor costs for the month of January were as follows:

Actual total direct labor-hours 20,000

Standard total direct labor-hours 21,000

Direct labor rate variance - unfavorable $3,000

Total direct labor cost $126,000

First, we need to calculate the standard direct labor hour cost.

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 126,000/20,000= 6.3

-3,000= (SR - 6.3)*20,000

-3,000= SR20,000 - 126,000

123,000/20,000= SR

6.15= Standard rate

To calculate the direct labor efficiency variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (21,000 - 20,000)*6.15

Direct labor time (efficiency) variance= $6,150 favorable

7 0

2 years ago