What type of account is Cash Short and Over?
A) ?Asset
B) ?Liability
C) ?Deferred revenue
D) ?Expense
D
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Compare organizational assimilation theory and organizational information and control (OIC) theory. Specifically, how might the two theories overlap to explain a newcomer’s socialization and progress within the organization?
What will be an ideal response?
In which scenario would an adjusted sales value be used to assign costs?
a. If a joint product is to be processed further after the point of separation. b. If abnormal losses occur during production of joint products. c. If joint products are separately identifiable before split-off point d. If one of the joint products has negligible market value.
The following is an account for a production department, showing its costs for one month:Work in Process InventoryBeginning Balance5,400Completed and transferred out49,410Direct materials21,600 Direct labor16,200 Overhead10,800 Ending Balance4,590 Assume that materials are added at the beginning of the production process and that direct labor and overhead are applied uniformly. If the started and completed units cost $41,850, what was the cost of completing the units in the beginning Work in Process inventory?
A. $7,560. B. $12,150. C. $54,000. D. $37,260. E. $2,160.
Describe the penalties for undervaluing gifts on a gift tax return.
What will be an ideal response?