Pittsburg resources acquired a coalmine for $6,000,000. the company’s survey estimates that 120,000 tons of coal can be extracted from the mine. in the first year of operations, 25,000 tons of coal was extracted, and the coal is considered sold immediately upon extraction. pittsburg resources would recognize

Which one of the following is never part of recording the requisition and issuance of raw materials in a job order cost system? debit finished goods inventory debit manufacturing overhead credit raw materials inventory debit work in process

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

In a recent annual report, apple computer reported the following in one of its disclosure notes: "warranty expense: the company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." this note exemplifies apple's use of: (a) conservatism.(b) matching. (c) realization principle. (d) economic entity.