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Woodmere Case Study Answer

In: Business and Management

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Abbreviations and Acronyms Commonly Used in Business and Accounting
AAA ABC AICPA CIA CIM CMA CPA Cr. Dr. EFT EPS FAF FASB FEI FICA tax FIFO FOB GAAP GASB GNP IMA IRC IRS JIT LIFO Lower of C or M MACRS n/30 n/eom P/E Ratio POS ROI SEC TQC American Accounting Association Activity-based costing American Institute of Certified Public Accountants Certified Internal Auditor Computer-integrated manufacturing Certified Management Accountant Certified Public Accountant Credit Debit Electronic funds transfer Earnings per share Financial Accounting Foundation Financial Accounting Standards Board Financial Executives International Federal Insurance Contributions Act tax First-in, first-out Free on board Generally accepted accounting principles Governmental Accounting Standards Board Gross National Product Institute of Management Accountants Internal Revenue Code Internal Revenue Service Just-in-time Last-in, first-out Lower of cost or market Modified Accelerated Cost Recovery System Net 30 Net, end-of-month Price-earnings ratio Point of sale Return on investment Securities and Exchange Commission Total quality control

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Classification of Accounts
Account Title
Accounts Payable Accounts Receivable Accumulated Depreciation Accumulated Depletion Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bonds Payable Building Capital Capital Stock Cash Cash Dividends Cash Dividends Payable Common Stock Cost of Merchandise (Goods) Sold Deferred Income Tax Payable Delivery Expense Depletion Expense Discount on Bonds Payable Dividend Revenue Dividends Drawing Employees Federal Income Tax Payable Equipment Exchange Gain Exchange Loss Factory Overhead (Overapplied) Factory Overhead (Underapplied) Federal Income Tax Payable Federal Unemployment Tax Payable Finished Goods…...

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