ACC 1111 Chapter 2: chemistry

57 views2 pages

safexfj

6 Apr 2023

School

University of Manitoba

Department

Accounting

Course

ACC 1111

Professor

For unlimited access to Textbook Notes, a Class+ subscription is required.

Document Summary

Chemistry is a scientific field that explores the properties of matter and the changes it undergoes. It encompasses a wide range of topics, from the structure and behavior of atoms and molecules to the properties of materials and the chemical reactions that take place in living organisms. Chemistry is a fundamental discipline that is crucial for our comprehension of the natural world and its numerous practical applications. One of the primary practical applications of chemistry is the development of new materials. Chemists apply their knowledge of the characteristics of atoms and molecules to design and synthesize novel materials with specific properties such as strength, flexibility, conductivity, and durability. This has resulted in the creation of new materials for various applications such as construction, medicine, and electronics. Another significant area where chemistry is applied is in the development of drugs and other pharmaceuticals.

Related Questions

Santana Mortgage Comapny uses a process costing system toaccumulate cost in its Application Department. When an applicationis completed, it is fowarded to the Loan Department for finalprocessing. The folowing processing and cost data pertain toSeptember.

1. Applications in process on Sept 1, 100

2.Application started in Sept, 900

3. Completed applications during Sept, 700

4. Applications still in process at Sept 30 were 100% completeas to materials (forms) and 60% complete as to conversioncosts.

Beg Work in Process:

Directmaterials $1100

Conversioncosts 4060

Sept Costs:

Directmaterials $4050

DirectLabor 12100

Overhead 8060

Material are the forms used in the application process, andthese costs are incurred at the beginning of the process.Conversion costs are incurred uniformly during the process.

Santana Mortgage Company uses the FIFO method. Also, assume thatthe applications in process on Sept 1 were 100% complete as tomaterials (forms) and 40% complete as to conversion costs.

The equivalent units of service (production) Materials ConversionCost

? ?

Compute the unit costs (unitcost) Materials ConversionCost

? ?

Prepare a cost reconciliation schedule

Cost accounted for:

WIP, Sept1 ?

Conversioncost ? ?

Started andcompleted ? ?

WIP, Sept 30:

Materials ?

Conversioncost ? ?

Totalcost ?

byzantiumsalmon293

Case 2.1 Intel Case The 2013 Intel Form 10-K can be found at the following Web site: www.pearsonhighered.com/fraser. Using the Form 10-K, answer the following questions: Prepare a common-size balance sheet for Intel for all years presented. Describe the types of assets Intel owns. Which assets are the most significant to the company? Using the notes to the financial statements, discuss the accounting methods used to value assets. What other information can be learned about the asset accounts from the notes? Have there been significant changes to the asset structure from 2012 to 2013? Analyze the accounts receivable and allowance for doubtful accounts. Describe the types of liabilities Intel has incurred. Which liabilities are the most significant to the company? Have there been significant changes to the liability and equity structure from 2012 to 2013? Describe the commitments and contingencies of Intel. Under which classification(s) are deferred taxes listed? What item is the most significant component of deferred taxes? What equity accounts are included on the balance sheet of Intel? Case 2.2 Applied Materials Comprehensive Analysis Case Using the Financial Statement Analysis Template Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as the content of each chapter is learned. Using the 2013 Applied Materials Form 10-K that can be found at www.pearsonhighered.com/fraser, complete the following requirements: Open the financial statement analysis template that you saved from the Chapter 1 Applied Materials problem and input the data from the Applied Materials balance sheet. Be sure to read the notes to the financial statements to determine the correct numbers to input on the template. For example, the company has combined asset and liability accounts and property, plant and equipment has been recorded net of accumulated depreciation. See Note 7 to help you reorganize the data for the template. When you have finished inputting the data, review the balance sheet to make sure there are no red blocks indicating that your numbers do not match the cover sheet information you input from the Chapter 1 problem. Make any necessary corrections before printing out both your input and the common-size balance sheet that the template automatically creates for you. Analyze the balance sheet. Write a summary that includes important points that an analyst would use in assessing the financial condition of Applied Materials.

taupefrog166

TRUE OR FALSE:

___ Under IAS 37, restructuring is a reorganization that has asignificant effect on the nature and focus of the entity'sactivities.

___ In the materiality principle only transactions with amountslarge enough to make a difference are considered materials.

___ Revenue can be recognized, during production, at thecompletion of production, at the point of delivery and when cash iscollected.

carminehorse210

ACC 1111 Chapter 2: chemistry

Document Summary

Get access

Related Questions