Friday
May 29, 2015

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

International Accounting
On December 1, Year1, El Primero Company purchases inventory from a foreign supplier for 40,000 coronas. Payment will be made in 90 days after El Primero has sold this merchandise. Sales are made rather quickly and El Primero pays this entire obligation on February 15, Year 2...
Thursday, May 28, 2015 at 2:05pm

Criminal Justice
Which of the following is an example of a white collar environmental crime? A. The cover-up of research findings about asbestos-caused diseases by several of the largest asbestos producers in the United States B. The nationwide savings and loan disaster in the 1980s involving ...
Saturday, May 23, 2015 at 2:49pm

BUS 599
According to double-entry accounting, which of the following is a correct statement regarding transactions?
Saturday, May 23, 2015 at 12:42pm

Managerial Economics
Soft selling occurs when a buyer is skeptical of the quality or usefulness of a product or service. For example, suppose you’re trying to sell a company a new accounting system that will reduce costs by 10%. Instead of asking for a price, you offer to give them the ...
Wednesday, May 20, 2015 at 5:36pm

accounting
multiplying the standard price of direct materials by the standard quantity for direct materials yields:
Wednesday, May 13, 2015 at 1:14pm

Accounting
Flip Company's December 31, 2014 trial balance is as follows: Flip Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500 Accounts Receivable 54,500 Allowance for Doubtful Accounts 500 Notes Receivable 30,000 Merchandise Inventory 55,000 Land 20,000...
Saturday, May 9, 2015 at 2:57am

Accounting
Gorton Corporation has 30,000 shares of $10 par value common stock outstanding when it announces a 2-for-1 stock split. Before the split, the stock had a market price of $120 per share. After the split, how many shares of stock will be outstanding? Common Stock Outstanding? ...
Thursday, May 7, 2015 at 5:12pm

accounting 100
The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2014: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Owner’s ...
Thursday, May 7, 2015 at 9:28am

accounting
What is the closing entry to allocate a net income of $48,000 to Sara, Ellen, and Mary? Respective capital balances are $30,000, $40,000, and $30,000. No agreement was made for division of income. A. Debit Income Summary $48,000; credit Sara’s Capital $16,000; credit ...
Tuesday, May 5, 2015 at 8:02pm

Accounting
O'Neill Co. has $296,000 in accounts receivable on January 1. Budgeted sales for January are $860,000. O'Neill expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the ...
Tuesday, May 5, 2015 at 1:57am

accounting
Explain how shaving 5% off the estimated direct labor hours in the base for the predetermined overhead rate usually results in a big boost in net operating income at the end of the fiscal year.
Monday, May 4, 2015 at 9:00pm

accounting
As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March of 2012 were as follows: $120,000, $140,000 and $150,000. 20% of each month’s sales are for cash. Of the remaining 80% (the credit ...
Sunday, May 3, 2015 at 8:34pm

Introduction to business
2. Ida works on creating ways to ensure that customers receive goods at the right time and correct location. Ida is involved in her firm's ________ strategy. A. pricing B. transportation C. product D. promotion 3. Mario is part of a strategic planning team. He has ...
Friday, May 1, 2015 at 10:23pm

Accounting 111
Would the loss on retirement of long-term debt be added to or deducted from net in come in determining net cash flow from operating activities by the indirect method?
Wednesday, April 29, 2015 at 4:59pm

Accounting
DeWeese Corporation issues $400,000 of 8%, 5-year bonds on January 1, 2015, at 105. Assuming that the straight-line method is used to amortize the premium, what is the total amount of interest expense for 2015?
Monday, April 27, 2015 at 3:54pm

Accounting
Louis Welch is general manager of United Salons. During 2014, Welch worked for the company all year at a $10,200 monthly salary. He also earned a year-end bonus equal to 10% of his annual salary. Welch’s federal income tax withheld during 2014 was $850 per month, plus $...
Monday, April 27, 2015 at 2:13pm

Managerial accounting
well, I am doing direct material budget, and already have my production budget. for example for the quarter, for January I get 950, and cost for Direct material it says to be $8/unit, but it does not say the units need for production, so im confused. normally you will multiply...
Wednesday, April 22, 2015 at 10:13pm

accounting
Not recording the Prepaid Rent used causes A. assets to be too high. C. expenses to be too high. D. revenue to be too high. My answer is A
Wednesday, April 22, 2015 at 1:55pm

accounting
A debit increases the balance in all of the following accounts except for which one? A. Cash B. Withdrawals C. Expenses D. Accounts payable My answer is D
Tuesday, April 21, 2015 at 5:23pm

accounting
A debit increases the balance in all of the following accounts except for which one? A. Cash B. Withdrawals C. Expenses D. Accounts payable My answer is D
Tuesday, April 21, 2015 at 3:32pm

accounting 100
Moteki Company accumulates the following adjustment data at December 31.
Tuesday, April 21, 2015 at 1:37pm

non profit Accounting
The mayor of a large city approaches a group of citizens and suggests that they form an organization to provide social, educational, and recreational programs for local youth. The group agrees and forms an entity called the Community Youth Organization (CYO). The group also ...
Sunday, April 19, 2015 at 12:51am

Accounting/Finance
Temte Corporation is authorized to issue 1,000,000 shares of no-par common stock and 250,000 shares of 6 percent, $25 par value, cumulative preferred stock. These events affected stockholders’ equity during the first year of operations: 1. 125,000 shares of common stock ...
Friday, April 17, 2015 at 1:03pm

College Accounting
The Thompson Company uses activity-based costing to determine product cost. Three activities and their rates have been calculated as shown below. Setting up equipment = $500 per setup Moving goods = $20 per move Machining = $4 per machine hour Thompson provided the following ...
Friday, April 17, 2015 at 1:50am

Accounting
Chef Gourmet, Inc., has assembled the following data pertaining to its two most popular products. Blender Food Processor Direct material $ 21 $ 30 Direct labor 14 42 Manufacturing overhead @ $52 per machine hour 52 104 Cost if purchased from an outside supplier 71 140 Annual ...
Thursday, April 16, 2015 at 4:05pm

Accounting
ZIMMER LANDSCAPING COMPANY Trial Balance April 30, 2014
Wednesday, April 15, 2015 at 10:52am

Accounting
ZIMMER LANDSCAPING COMPANY Trial Balance April 30, 2014
Wednesday, April 15, 2015 at 10:50am

Accounting
Adelphia Corporation, which uses absorption costing, just completed its first year of operations. Planned and actual production equaled 13,000 units, and sales totaled 11,700 units at $184 per unit. Cost data for the year are as follows: Direct material (per unit) $ 37 ...
Wednesday, April 8, 2015 at 8:22pm

Accounting
Adelphia Corporation, which uses absorption costing, just completed its first year of operations. Planned and actual production equaled 13,000 units, and sales totaled 11,700 units at $184 per unit. Cost data for the year are as follows: Direct material (per unit) $ 37 ...
Wednesday, April 8, 2015 at 2:31pm

accounting
The following are examples of errors that will not be revealed by a trial balance: (a) errors of omission (b) incorrect total on trial balance (c) posting to the wrong account (d) compensating errors (e) The balance of a general ledger account has been incorrectly calculated.
Tuesday, April 7, 2015 at 5:01am

Accounting
Bus Acquired Cost Salvage Value Useful Life in Years 1 1/1/13 $98,100 8,000 5 (straight-line) 2 1/1/13 129,000 11,900 5 (decline balance) 3 1/1/14 79,780 8,200 4 (units-of-activity) For the declining-balance method, the company uses the double-declining rate. For the units-of-...
Monday, April 6, 2015 at 10:59pm

Accounting
1/2/15 Purchased patent (6-year life) $521,580 4/1/15 Goodwill purchased (indefinite life) 395,170 7/1/15 14-year franchise; expiration date 7/1/2025 519,400 9/1/15 Research and development costs 169,890 Prepare the necessary entries to record these intangibles. All costs ...
Monday, April 6, 2015 at 10:27pm

cda
_______ are necessary to defuse disagreements with parents. A. Avoidance and ambiguity B. Accounting records and photographs C. Respect and discretion D. Power and authority I choose C
Sunday, April 5, 2015 at 4:46pm

accounting
rigoberto invests 8,000 at 6% interest, compound semiannually for 1 year
Friday, April 3, 2015 at 8:27pm

accounting
rose wants to have 7,500 in 18 years how much rose should invest now at 8% interest
Friday, April 3, 2015 at 7:35pm

Bus 101
Which of the following represents the basic accounting equation
Friday, April 3, 2015 at 1:48pm

Accounting
Paid $1,200 cash to Hilldale Mall for Success Systems' share of mall advertising cost. I need to know the debit and credit.
Thursday, April 2, 2015 at 5:05pm

Accounting
Completed a project for Chang Corporation abd received $3620 cash. I need to know the debit and credit. Thanks
Thursday, April 2, 2015 at 4:57pm

Accounting
Stuck on a few questions from my Accounting class. If anyone can help; I would be really grateful! 32. Of the following accounts, which might appear in the adjusted trial balance, but not in the post-closing trial balance? A. income summary B. owner's capital C. accounts ...
Saturday, March 28, 2015 at 9:59pm

Accounting
3) Green Corporation is a calendar-year taxpayer. All of the stock is owned by Evan. His basis for the stock is $35,000. On March 1 (of a nonleap year), Green Corporation distributes $120,000 to Evan. Determine the tax consequences of the cash distribution to Evan in each of ...
Wednesday, March 25, 2015 at 4:28pm

accounting
If a business is purchased by the issue of 10000 $10 8% debentures trading at $95, how much is the purchase consideration? I did 10000x95, but the answer in the key is  option D instead, 95000, not 950,000... I'm totally confused..
Wednesday, March 25, 2015 at 3:09am

Economics
China's slowdown Jan 20th 2015, 10:26 by S.R. | SHANGHAI MUCH of the analysis of China’s 2014 GDP data, which the government published today, has focused on the economy’s slowdown That is, on one level, understandable. Growth of 7.4% was China’s weakest in ...
Saturday, March 21, 2015 at 3:07pm

management accounting
how much should be invested now (to the nearest $)to receive $ 24000 per annum in perpetuity if the annual rate of interest is 5% ?
Thursday, March 19, 2015 at 1:23am

accounting
A machine costing $85,000 with a 5-year life and $5,000 residual value was purchased January 2, 2011. Computed depreciation for the first year, using the double declining-balance(DDB) method would be what?
Tuesday, March 17, 2015 at 3:32pm

Accounting
E13 Selected account balances of the Lakeside Grocery Store for the year ended December 31, 20xx, follow. Beginning merchandise inventory was $ 26,000, and ending merchandise inventory is $ 22,000. Prepare closing entries, assuming that the owner of Lakeside Grocery, John ...
Monday, March 16, 2015 at 5:47pm

accounting
A compound transaction was recorded as follows: debit Equipment, $5,000; debit Cash, $1500; credit Accounts Payable, $3,500. This error would cause __________. A. assets to be overstated B. assets to be understated C. liabilities to be overstated D. liabilities to be ...
Sunday, March 15, 2015 at 5:21pm

12th Grade
What career can I study if I am doing this subject: Mathamatical literacy ,Accounting , Economics And Business studies anyone who can help?
Sunday, March 15, 2015 at 11:31am

Managerial Accounting
Joanna Pauly was delighted to see that her ROI figures had increased for the third straight year. She was sure that her campaign to lower costs and use machinery more efficiently (en- abling her factories to sell several older machines) was the reason why. Joanna ...
Saturday, March 14, 2015 at 4:53pm

Corporate Finance
Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSs). The company is looking at setting up a manufacturing plant overseas to produce a new line ...
Saturday, March 14, 2015 at 10:55am

Accounting
At december 31, 2013 and 2014, lapham corp. Had 200,000 shares of common stock and 20,000 shares of $5 dividend, $100 par value cumulative preferred stock outstanding. No dividends were declare on either ghe preferred or common stock in 2013 or 2014. Net income for 2014 was $1...
Thursday, March 12, 2015 at 11:00am

Managerial Accounting
Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all sprinklers by an average of $0.70 per unit. The company also estimates that this change could increase the overall number of sprinklers sold by 10%, and ...
Wednesday, March 11, 2015 at 9:56pm

Accounting
Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all sprinklers by an average of $0.70 per unit. The company also estimates that this change could increase the overall number of sprinklers sold by 10%, and ...
Wednesday, March 11, 2015 at 4:42pm

ACCOUNTING FOT MERCHANDISING
CASH REGISTER SCHEMES ARE A FORM OF?
Tuesday, March 10, 2015 at 8:01pm

accounting
Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the ...
Tuesday, March 10, 2015 at 7:33pm

Mangerial accounting
1.April Green Company has budgeted the following amounts for its next fiscal year: Total fixed expenses $832,500 Sale price per unit $40 Variable expenses per unit $25 By how much will breakeven increase/decrease in units if April can reduce fixed expenses by $27,000?
Monday, March 9, 2015 at 4:48pm

Accounting
Q.2. A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. Prepare the journal entries to record these merchandise transactions.
Monday, March 9, 2015 at 12:56pm

Computerized Accounting
Consider this statement: "QuickBooks records revenue when an invoice is generated, even though cash has not been received." Is this practice acceptable? Why or why not? What are noncash investing and financing activities, and how are they recorded in QuickBooks?
Monday, March 9, 2015 at 12:13pm

Accounting
Consider this statement: "QuickBooks records revenue when an invoice is generated, even though cash has not been received." Is this practice acceptable? Why or why not?
Monday, March 9, 2015 at 12:09pm

Accounting
On December 31, 2013, Ruby Inc. issued 3,000 $1,000 par value bonds with a stated rate of 6% and a 10-year maturity. Interest is payable semiannually on June 30 and December 31.
Sunday, March 8, 2015 at 5:05pm

Finance
We are evaluating a project that costs $1,120,000, has a ten-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 64,000 units per year. Price per unit is $50, variable cost per unit is $25...
Sunday, March 8, 2015 at 1:48pm

Accounting
The GoodTaste Club collected recipes from members and published a cookbook entitled Eat 'Em Up. The book will sell for $18 per copy. The chairwoman of the cookbook development committee estimated that the club needed to sell 14,600 books to break even on its $87,600 ...
Sunday, March 8, 2015 at 10:55am

Accounting,economis,business
Three courses or study fields
Sunday, March 8, 2015 at 1:04am

accounting
A company purchased merchandise inventory at a cost of $8,500 with credit terms 2/10, net 60. If the company borrows $8,330 to pay for the purchase on the last day of the discount period and pays the loan plus interest in the amount of $8,466.93 on the last day of the credit ...
Saturday, March 7, 2015 at 11:31am

economic
What is accounting terms according to the opinion of American Accounting Association (AAA)?
Saturday, March 7, 2015 at 11:05am

accounting
Which of the following adjustmnts will require the company to record a debit memo sent by the bank? a. The bank collected a $550 note receivable, plus interest, which had not been recorded in the company's journal. b. The company recently made a $692.28 deposit that has ...
Thursday, March 5, 2015 at 10:18pm

accounting
Shastri Bicycle of Bombay, India, produces an inexpensive, yet rugged, bicycle for use on the city’s crowded streets that it sells for 767 rupees. (Indian currency is denominated in rupees, denoted by R.) Selected data for the company’s operations last year follow: ...
Sunday, March 1, 2015 at 6:35pm

Accounting
Beginning work in process inventory 17,000 40%. Transferred in from the prior department 72,000. Ending work in process inventory 18,000 30% According to the company records the conversion cost in the beginning work in process inventory was $63.104 at the beginning of ...
Sunday, March 1, 2015 at 1:54pm

Accounting
formation about the Maxwell Company's inventory of one item during 2010 is given below. Units Unit Cost Beginning Inventory, Jan 1, 2010 80 $24.00 Purchases: March, 2010 45 24.00 July 2010 75 22.00 Nov. 2010 100 21.00 Ending Inventory, Dec. 31, 2010 55 Compute the cost of ...
Saturday, February 28, 2015 at 11:51pm

accounting
Describe how the separation of (1) authorization of production transactions, (2) recording of these transactions, and (3) physical custody of inventories can be specified among the production, inventory, and cost accounting departments. How does the production order document ...
Friday, February 27, 2015 at 9:37pm

Accounting
Beacon Electronics advertised a portable TV set on sale for $273.49 after a 35% markdown from the original price. What was the original price of the Tv set?
Thursday, February 26, 2015 at 11:55pm

Accounting
The Soft Step Floor Company purchases carpeting for $ 5.12 per square yard and marks it up 55% based on the selling price. What is the selling price per square yard?
Thursday, February 26, 2015 at 11:49pm

Business, Accounting
A firm has a debt to equity ratio of 50%, debt of $300,000, and net income of $90,000. The return on equity is a. 60% b. 15% c. 30% d. not enough information
Wednesday, February 25, 2015 at 1:21pm

accounting
Write a character sketch of lencho
Wednesday, February 25, 2015 at 1:11am

Accounting
A debit to the capital account was posted to an expense account. This would cause __________. A. assets to be overstated B. liabilities to be understated C. capital to be overstated D. expense to be understated i think its D
Saturday, February 21, 2015 at 4:09pm

Accounting
A debit to a revenue account was posted to an expense account. This would cause __________. A. expenses to be overstated B. revenue to be understated C. expenses to be understated D. capital to be overstated i believe its C
Saturday, February 21, 2015 at 3:52pm

Accounting
A credit to a liability account was posted to an owner's equity account. This would cause __________. A. assets to be overstated B. liabilities to be understated C. owner's equity to be understated D. net income to be overstated i think its D A credit to an asset ...
Saturday, February 21, 2015 at 3:50pm

accounting
which one would not likely employ the specific identification method for inventory costing? hardware store farm implement dealership music store specializing in organ sales antique shop
Friday, February 20, 2015 at 9:32pm

Accounting
Rexford Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inventories at the beginning and end of the month of January. January 1 January 31 Finished goods $126,000 $117,000 Work in process 235,000 251,000 Raw ...
Wednesday, February 18, 2015 at 3:28pm

Accounting
Cherry Hill Glass Company employs a normal costing system. The following information pertains to the year just ended. • Total manufacturing costs were $1,420,000. • Cost of goods manufactured was $1,391,000. • Applied manufacturing overhead was 20 percent of ...
Wednesday, February 18, 2015 at 1:59pm

Accounting
Cherry Hill Glass Company employs a normal costing system. The following information pertains to the year just ended. • Total manufacturing costs were $1,420,000. • Cost of goods manufactured was $1,391,000. • Applied manufacturing overhead was 20 percent of ...
Wednesday, February 18, 2015 at 9:00am

accounting
When a european coffee maker becomes less experience to buy in the United states you could probably say that we're experiencing a_____ dollar
Friday, February 13, 2015 at 8:12pm

accounting
The following was taken from the records of Smith Company in the year ending December 31, 2014. Journalize the following transactions in an Excel spreadsheet for year-end 2014 using the aging method. Assume that the allowance for doubtful accounts has a beginning credit ...
Friday, February 13, 2015 at 7:31am

Accounting urgent
Ellis Co. sold merchandise to Rather Co. on account, $7,150, terms 2/15, n/30. The cost of merchandise sold is $4,290. Ellis Co. issued a credit memo for $850 for merchandise returned and later received the amount due within the discount period. The cost of the merchandise ...
Thursday, February 12, 2015 at 11:09pm

Accounting urgent
What would be considered quick assets out of Cash& Short term investments......$47.3 receivables.........159.7 inventories...........72.3 prepaid expenses&other current assets...32.0 total current liabilities..........130.0 total liabilities............279.4 total stockholders...
Thursday, February 12, 2015 at 11:08pm

Accounting urgent
Foster Glass Company purchased a fax machine on July 1, 2007 for $1,800. The fax machine had an estimated useful life of three years and a salvage value of $300. Assume Foster uses the double-declining balance (DDB) depreciation method. Foster decided to replace its fax ...
Thursday, February 12, 2015 at 11:08pm

Accounting urgent
Whistle manufactures referee whistles. At the end of February, Whistle has 2,000 pounds of steel for whistles inventory. Whistle expects to produce and sell 50,000 whistles in March. Each whistle requires a standard quality of .2 lbs of steel. Whistle wants to have 5,000 ...
Thursday, February 12, 2015 at 11:07pm

accounting
What is the amount of the tax liability for a single person having taxable income of $59,200? All answers should be rounded to the nearest dollar.
Monday, February 9, 2015 at 3:29pm

accounting
what accounts are affected when you invest in additional equipment for the business?
Sunday, February 8, 2015 at 1:42pm

Accounting
Applying the interest allowance method, compute Julie's and Jennifer's share of net income if Julie invested $40,000.and Jennifer invested $24,000. At an 8% interest rate, with the remainder to be decided equally. Net income was $10,000.
Friday, February 6, 2015 at 10:24pm

accounting
Is supplies listed as a CURRENT ASSET in a balance sheet?
Thursday, February 5, 2015 at 11:09am

accounting
Greco Resort Adjusted Trial Balance August 31, 2007 Debit Credit Cash $ 19,600 Accounts Receivable 800 Prepaid Insurance 3,375 Supplies 450 Land 20,000 Building 120,000 Accumulated Depreciation- Building 1,080 Equipment 16,000 Accumulated Depreciation—Equipment 360 ...
Thursday, February 5, 2015 at 10:11am

Accounting
Complete the following exercise. In December 20X2, the Cardoso Company established its predetermined overhead rate for jobs produced during the year 20X3 by using the following cost predictions: Overhead costs: $750,000 Direct labor costs: $625,000. At year-end 20X3, the ...
Tuesday, February 3, 2015 at 2:20pm

Accounting
Complete the following exercise. Fill in the Excel spreadsheet provided via the link below to provide your answers to parts a and b. Then paste the Excel data into a Word document on which you can also write the answer to part c. Income Statement Administrative Expenses $ 70,...
Tuesday, February 3, 2015 at 2:19pm

economics,english,mathslit,accounting,business,zul
Iam in matric Nd would like to be in the university in JHB,PTA iam doing maths lit accounting economics business studies english and isizulu
Thursday, January 29, 2015 at 4:20am

Principles of Accounting 1
I need help please I don't understand this at all. Thanks. Part A: Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for recording bad debts expense.) 2010 Dec. 31 Record Bad Debts ...
Tuesday, January 27, 2015 at 10:44am

accounting
Analyze the following scenario: River County is planning several capital acquisitions for the coming year. These include the purchase of two new garbage trucks at $150,000 each, one new bulldozer at $240,000, three new riding lawn mowers at $16,000 each, and construction of an...
Monday, January 26, 2015 at 9:30pm

accounting
the board of directors declares 15% stock dividend on10000 outstanding shares of$20 per common stock. Thee current market value is $25 per share. how should I journalize this entry?
Monday, January 26, 2015 at 1:24am

accounting,life science,history and maths lit
What career path can I fellow doing these subjects?
Sunday, January 25, 2015 at 11:25am

accounting,life science and history
What course can I do in college o university and career job can I persue after I've got my degree
Saturday, January 24, 2015 at 7:57am

Accounting
Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. Invested cash in business, $18,428. Bought office supplies for $4,433: $1,896 in cash and $2,537 on account. Paid one-year insurance premium, $1,003. Earned revenues ...
Thursday, January 22, 2015 at 4:42pm

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Homework Help: Business

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