Ipek inc. is facing a problem with their 4th quarter absorption costing net operating income on december 25th. their net operating income target is $3,000,000 and the data so far is as follows : sales revenue : $25,000,000 ($500 per unit) variable cost of goods sold : $10,000,000 ($200 per unit) fixed overhead : $13,000,000 fixed selling and administrative expenses : $1,000,000 variable selling and administrative expenses : 4% commission on sales ipek has a policy of having zero inventories on hand at end of each quarter. no further sales are possible during the year and all of the units produced so far have been sold. the ceo is planning to produce items for inventory to meet the net operating income target.

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.