The following expenditures relating to plant assets were made by Newport Com- pany during the first 2 months of 2012.

1. Paid $7,000 of accrued taxes at the time the plant site was acquired.
2. Paid $200 insurance to cover a possible accident loss on new factory machinery while
the machinery was in transit.
3. Paid $850 sales taxes on a new delivery truck.
4. Paid $21,000 for parking lots and driveways on the new plant site.
5. Paid $250 to have the company name and slogan painted on the new delivery truck.
6. Paid $8,000 for installation of new factory machinery.
7. Paid $900 for a 1-year accident insurance policy on the new delivery truck.
8. Paid $75 motor vehicle license fee on the new truck.
Instructions
(a) Explain the application of the cost principle in determining the acquisition
cost of plant assets.
(b) List the numbers of the transactions, and opposite each indicate the account title to
which each expenditure should be debited.

You are the manager of a firm that produces output in two plants. the demand for your firm's product is p = 20 − q, where q = q1 + q2. the marginal costs associated with producing in the two plants are mc1 = 2 and mc2 = 2q2. how much output should be produced in plant 1 in order to maximize profits?

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest.the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed.what control allowed the fraud to occur?

As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget