Business, 27.05.2020 20:08 zuleromanos
Year end is December 31, 2017. Peyton Baking Company uses the following accounting practices: ο· Inventory: Periodic, FIFO for both baking and merchandise o Baking supplies: $27,850 ending inventory ο· Equipment: Straight line method used for equipment o Mixing machine: $5,000 initial cost, $500 salvage value, 3rd year of use of 7 total ($642.86 per year) o Ovens: $8,000 initial cost, $1,000 salvage value, 3rd year of use of 7 total ($1,000 per year) on Other depreciable equipment: $4,000 initial cost, $0 salvage value, 1st year of use of 4 total ($1,000 per year) o Bakery Leasehold Improvements: $10,000, 2nd year of use ($2,000 per year) o Trademark for company name: Initial cost, $2,300, 3rd year of use ο· Office supplies: Periodic, FIFO. Ending balance is $250. ο· Pay period is every 2 weeks. Last pay period ended December 27. o 60 employees with a daily pay of $5,700. All receive pay through December 31. ο· Financing: o 6% interest note payable was made on January 31, 2017, and is due February 1, 2019. o 5-year loan was made on June 1, 2017. Terms are 7.5% annual rate, interest only until due date. ο· Insurance: Annual policy covers 12 months, purchased in February, covering March 2017β February 2018. No monthly adjustments have been made. Other information: An employee slipped and fell in the baking area and has filed a lawsuit. The company lawyer indicates that it is probable that the company will be found liable. No additional information is
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Business, 22.06.2019 07:30
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Business, 22.06.2019 09:40
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Sunset foods relies on a highly centralized functional structure to ensure consistency in the quality and taste of its products and to drive down costs via process innovations. however, as a consequence of its highly compartmentalized structure, the firm has found it difficult to transfer information and ideas from one department to the next. with the launch of its new line of breakfast foods coming up, how can sunset improve its ability to collaborate without sacrificing the benefits of its current structure
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Year end is December 31, 2017. Peyton Baking Company uses the following accounting practices: ο· Inve...
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