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April 21, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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accounting
prepare the appropriate adjusting entry for the year Rent of $24,000 for a full year was paid on August 31,2011
Sunday, October 30, 2011 at 9:00am

accounting
Selected year- end financial statements of Cadet Corporation follow. ( All sales were on credit; selected balance sheet amounts at December 31, 2008 (prior year – you will need this to calculate certain averages), were inventory, $ 56,900; total assets, $ 219,400; common ...
Sunday, October 30, 2011 at 4:42am

accounting
Express the following comparative income statements in common- size percents and assess whether or not this company’s situation has improved in the most recent year. 5 points) MULAN CORPORATION Comparative Income Statements For Years Ended December 31, 2009 and 2008 2009 ...
Sunday, October 30, 2011 at 4:41am

accounting
Classify each of the following costs incurred in manufacturing bicycles as variable (V), fi xed (F), or mixed (M) cost (using number of units produced as the activity measure). Also indicate whether the cost is direct material (DM), direct labor (DL), or overhead (OH). a. ...
Sunday, October 30, 2011 at 1:01am

Cost accounting
Classify each of the following costs incurred in manufacturing bicycles as variable (V), fi xed (F), or mixed (M) cost (using number of units produced as the activity measure). Also indicate whether the cost is direct material (DM), direct labor (DL), or overhead (OH). a. ...
Sunday, October 30, 2011 at 1:00am

accounting
thank u so much
Saturday, October 29, 2011 at 7:31am

accounting
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred and $1 par value common. The following transactions affect stockholders' equity during 2010, its first year of operations: January 2 Issue 100,000 shares of common stock for $25 per share. ...
Saturday, October 29, 2011 at 12:51am

computer networking
You have been asked to help upgrade the LAN at a very successful CPA firm with five departments in one building and a total of 560 employees. Although the firm's employees understand accounting, they haven't spent much time improving their network. Currently, it runs ...
Friday, October 28, 2011 at 4:43pm

Accounting
220000-21000=10000 hrs X $5/hr = 50000(adverse) for more detail contact hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:24pm

accounting
IAS 16 for NCA, for more detail contact hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:23pm

Accounting
9th month rent will be shown as current asset and 6th month insurance expense will also be shown as current asset for more detail contact hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:22pm

Accounting
it is (210000-22000)= 10000 hrs X $5/hr =$ 50000 ( adverse) hamzanajam @ h o t m a i l . c o m for more details
Wednesday, October 26, 2011 at 2:20pm

accounting
proprietorship is one man owned business which is normally controlled by himself, whereas partnership is where 2 or more people contribute to start business they share capital responsibilities and profits/loss. A corporation is created under the laws of a state as a separate ...
Wednesday, October 26, 2011 at 2:17pm

Accounting
contact me i will solve this hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:12pm

Accounting
hamzanajam @ h o t m a i l . c o m a : 71200-30000 b : 30000-12100
Wednesday, October 26, 2011 at 2:10pm

Accounting
you can contact me i will get u about ur concern hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:09pm

accounting
its not the full question hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:07pm

accounting
hamzanajam @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 2:06pm

accounting
Total assets : 140000+420000+70000 long-term liabilities : 210000-80000 contributed capital : 420000+120000 total liabilities and equity : 420000+120000+210000
Wednesday, October 26, 2011 at 2:05pm

accounting
595960 530000+95400-4000-42400+21730+11660-1643​0 h a m z a n a j a m @ h o t m a i l . c o m
Wednesday, October 26, 2011 at 1:59pm

accounting
0092-323-4335372
Wednesday, October 26, 2011 at 1:47pm

accounting
In partnership, each partner is personally liable to pay 100% of the partnership debts, means if there are not enough business assets to pay those debts then partners’ personal assets shall be sold off to pay business debts not just according to their profit/loss sharing ...
Wednesday, October 26, 2011 at 1:47pm

Accounting
Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance. May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900 Cash 101 900 11 Accounts Receivable 112 2,100 ...
Wednesday, October 26, 2011 at 1:22pm

buissness math
We HELP but we do not DO the work for you. Here are some accounting tutorials you might like to have: http://search.yahoo.com/search?fr=mcafee​&p=accounting+tutorials For interest calculations: http://search.yahoo.com/search?fr=mcafee​&p=how+to+determine+otals+in+...
Wednesday, October 26, 2011 at 11:01am

accounting
Since y ou don't say what y ou are to do with the information, h ere are some accounting tutorials you might like to have: http://search.yahoo.com/search?fr=mcafee​&p=accounting+tutorials Sra
Tuesday, October 25, 2011 at 10:23am

Accounting
I am not sure if this will appear understandable to someone or not. It is originally done as a spread sheet, three parts.
Tuesday, October 25, 2011 at 8:46am

accounting
O' Hara Company began operations on December 1, 2011. Presented below is selected information related to O' Hara Company at December 31, 2011. Office Equipment ₤ 40,000 Utilities Expense ₤ 6,000 Cash 14,000 Accounts Receivable 27,000 Service Revenue 108,000...
Tuesday, October 25, 2011 at 3:17am

Accounting
Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance.  May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900 Cash 101 900 11 Accounts Receivable 112 2...
Monday, October 24, 2011 at 10:29pm

accounting
Company reports net income of $ 530,000 for the year ended December 31, 2009. It also reports $ 95,400 depreciation expense and a $ 4,000 gain on the sale of machinery. Its comparative balance sheets reveal a $ 42,400 increase in accounts receivable, $21,730 increase in ...
Monday, October 24, 2011 at 7:31pm

accounting
:The balance sheet for Glenwood Corporation at December 31, 2011, showed the following subtotals: Current Assets $140,000 Current Liabilities 80,000 Property & Equipment 420,000 Total Stockholders' Equity 420,000 Retained Earnings 120,000 Total Liabilities 210,000 Other ...
Sunday, October 23, 2011 at 9:31pm

accounting
Journalize the write-offs and the year-end adjusting entry for 2012 under the allowance method, assuming that the allowance account had a beginning balance of $55,000 on January 1, 2012, and the company uses the analysis of receivables method. If an amount box does not require...
Sunday, October 23, 2011 at 4:02pm

Accounting
Your Credit History will definitely affect your future! If you are proficient at accounting, you will insure that that Credit Rating will be good! Just think how you can use accounting - to plan a budget, rectify your checking account, etc. Sra
Saturday, October 22, 2011 at 5:42pm

Accounting
Oh thank god for you!! Thanks a bunch.
Saturday, October 22, 2011 at 4:37pm

Accounting
I have to write a paper for accounting and I have to write about how it affect my responsibility and how it will affect my future. I need to know how to get started on this.
Saturday, October 22, 2011 at 3:37pm

Accounting
Oh thank god for you!! Thanks a bunch.
Saturday, October 22, 2011 at 3:25pm

Accounting
Yes, looks good. Sra
Saturday, October 22, 2011 at 3:16pm

Accounting
Sales Revenue: $71,200 Cost of Goods Sold: (a) Gross Profit: $30,000 Operating Expenses: (b) Net Income: $12,100 Find the missing amounts. This is what I got: a) $41,200 b) $17,900 I am pretty sure I am doing this right. But before I move on with my homework, I would like to ...
Saturday, October 22, 2011 at 2:06pm

accounting
Suppose the business has total assets worth Rs. 450,000/- and total liabilities of Rs. 800,000/-. Mr. Ali has the personal property of Rs. 200,000/- and Mr. Yasir has the personal property of Rs. 125,000/-. In case the business is liquidated and declared as bankrupt, up to ...
Saturday, October 22, 2011 at 12:43pm

Accounting
I get Debits of 7,100. Credits of 17,200 (including misc. credit of 10,000) Net Income of 100, if you ignore the 10,000. Sra
Friday, October 21, 2011 at 5:04pm

Accounting
Here are some tutorials you might to have to help you with accounting: 1. balance sheet = http://search.yahoo.com/search?fr=mcafee​&p=balance+sheet+tutorial 2. http://search.yahoo.com/search?fr=mcafee​&p=income+statement+tutorial 3. http://search.yahoo.com/search?...
Friday, October 21, 2011 at 4:35pm

Accounting
Please Help. I can't get the balance sheet to balance out at at. I am frustrated! Prepare a Trial Balance, an Income Statement and a Balance Sheet. Doris' Custom Designs Jan. 1 Doris deposits $10,000 in the bank to start her business. (Hint: use "misc. credit"...
Friday, October 21, 2011 at 4:32pm

accounting
Don't you have a good dictionary? That would give you definitions. Begin with some of the following links for information: http://search.yahoo.com/search?fr=mcafee​&p=difference+between+proprietorship%2C+​partnership+%26+a+corporation WE can not decide for YOU...
Wednesday, October 19, 2011 at 11:30am

accounting
Explain the differences between a proprietorship, a partnership, and a corporation in 200 to 300 words. Why would an entrepreneur want to choose one over the other? If you were starting a new business, which would you choose? Explain why.
Wednesday, October 19, 2011 at 7:28am

Accounting
Here are some tutorials you might like to have: http://search.yahoo.com/search?fr=mcafee​&p=adjusted+entry+tutorials Sra
Tuesday, October 18, 2011 at 7:40pm

Accounting
Original budget for 2009 included $600,000 fixed overhead and $400,000 variable overhead. Labor hours were estimated at 200,000 labor hours. The predetermined overhead rate was $5 per hour. Actual overhead turned out to be $1,100,000. Actual labor hours were 220,000 which ...
Tuesday, October 18, 2011 at 7:20pm

Accounting
How do I post an adjusted entry for the following: The company prepaid its 9th month rent agreement on 6-1-2010 and prepaid its 6th month insurance policy on 12-1-2010.
Tuesday, October 18, 2011 at 7:15pm

accounting
Try some of the following links for information: http://search.yahoo.com/search?fr=mcafee​&p=What+generally+accepted+Accounting+Pr​inciple%28s%29+dominate+the+issue+of+ass​et+valuation%3F+ Sra
Tuesday, October 18, 2011 at 6:21pm

accounting
What generally accepted Accounting Principle(s) dominate the issue of asset valuation?
Tuesday, October 18, 2011 at 4:56pm

Accounting
Original budget for 2009 included $600,000 fixed overhead and $400,000 variable overhead. Labor hours were estimated at 200,000 labor hours. The predetermined overhead rate was $5 per hour. Actual overhead turned out to be $1,100,000. Actual labor hours were 220,000 which ...
Tuesday, October 18, 2011 at 12:22am

managerial accounting
For year ended December 31, 2006, firm a produced and sold 12,000 units of product. Fixed expenses associated with producing the product totaled $4000 for the year. A variable cost of $3.20 per unit was incurred to produce the product. Fixed expenses associated with selling ...
Monday, October 17, 2011 at 11:20am

managerial accounting
Werntz furniture had actual sales for July and august and forecasted sales for September, October, November and December as follows: Actual: July………………​……………… ​3;………………&#&#...
Monday, October 17, 2011 at 11:18am

accounting
What are the ethical issues? Who are the stakeholders? (at least 3) How is each stakeholder you listed in #2 affected? (Be specific). What would you do? Explain
Sunday, October 16, 2011 at 10:30pm

accounting
That's the way I might do it, but accountants don't like that kind of slipshod accounting.
Sunday, October 16, 2011 at 10:30pm

accounting
Bill has just started working for a major grocery store as a check-out clerk. Mason is training him in the duties of the new position. At the end of the first day, Bill and Mason are counting the cash in their drawer and reconciling cash receipts to the cash register total. ...
Sunday, October 16, 2011 at 10:28pm

HUMAN ORGANIZATON BEHAVIOR..MS. SUE PLEASE HELP
can u help to have an idea to get the correct answer.for the question below. AUTOCRATIC,CUSTODIAL, SUPPORTIVE AND COLLEGIAL MODEL. What model of organizational behavior would be most appropriate in each of the following situations? (Assume that you must use the kinds of ...
Sunday, October 16, 2011 at 9:45pm

accounting
l;
Sunday, October 16, 2011 at 8:48pm

HUMAN ORGANIZATON BEHAVIOR.... PLEASE HELP
can u help to have an idea to get the correct answer.for the question below. What model of organizational behavior would be most appropriate in each of the following situations? (Assume that you must use the kinds of employees and supervisors currently available in your local ...
Sunday, October 16, 2011 at 8:01pm

accounting
My friend Robert Hughes runs hardware business in down town Dallas. Because of competition he relies on neighborhood customers for sales. From inception of operations to December 31, 2010, Robert Hughes Hardware Company provided for uncollectible accounts receivable under the ...
Sunday, October 16, 2011 at 6:08pm

Accounting
Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2010 using the straight-line method. INFO: Sharapove Co common stock, $100 par 200 shares     $37,400 U.S. government bonds, 11%, due 4/1/2020, interest payable 4/1 & 10/...
Sunday, October 16, 2011 at 5:51pm

Accounting
Earned but unbilled fees as July 31 were $1,300 2) Depreciation on equipment for the month was $200 3) one-twelfth of the insurance expired 4) An inventory count shows $100 of cleaning on hand July 31 5) Accrued but unpaid employee salaries were $500
Sunday, October 16, 2011 at 5:23pm

Accounting
You might try some of the following links for information: http://search.yahoo.com/search?fr=mcafee​&p=how+to+prepare+a+schedule+listing+the​+compon+ents+of+personal+%26+dependent+e​xemption+amount+for+an+individual+tax+re​turn Sra
Sunday, October 16, 2011 at 2:25pm

Accounting
Prepare a schedule that lists the components of and calculates the personal and dependent exemption amount (based on current year exemption and dependency amount) that would be included on the Brock's individual tax return based on the following information: The Brock'...
Sunday, October 16, 2011 at 1:18pm

accounting
75,000 The exchange is taxable because Bob did not hold 80% control in Dove after the transfer.
Saturday, October 15, 2011 at 2:28pm

Managerial Accounting
is direct labor generally cosided to be a fixed cost?
Saturday, October 15, 2011 at 2:48am

cost accounting
Try some of the following tutorials for information: http://search.yahoo.com/search?fr=mcafee​&p=fixed+%26+variable+costs+tutorials Sra
Friday, October 14, 2011 at 10:49am

accounting
You might like to have some of the following links on journal entry tutorials: http://search.yahoo.com/search?fr=mcafee​&p=journal+entry+tutorials Sra
Friday, October 14, 2011 at 10:45am

accounting
Jane Doe of Creative Marketing was recording transactions into the accounting records to prepare financial statements for the bank in a loan application. Her expenses were higher than anticipated and she was concerned about the effects on net income. As she was recording $3,...
Friday, October 14, 2011 at 9:46am

cost accounting
The East Company manufactures several different products. Unit costs associated with Product ORD203 are as follows: Direct materials $50 Direct manufacturing labor 8 Variable manufacturing overhead 10 Fixed manufacturing overhead 23 Sales commissions (2% of sales) 5 ...
Friday, October 14, 2011 at 12:12am

accounting
Try some of the following links on incentive gifts for information: http://search.yahoo.com/search?fr=mcafee​&p=is+a+company%27s+giving+a+free+gift+t​o+understate+sales+wise%3F Sra
Thursday, October 13, 2011 at 6:08pm

accounting
Do you really think a company would offer a free gift to understate sales? It may avoid paying tax, but it is then giving away inventory. Do you think that is wise?
Thursday, October 13, 2011 at 9:22am

human behavior in organization pls. need help.
please can you help to get an answers from your own words. this is my assessment and i need tosubmit but i relly could not get the best answer.it's maybe because of my mother tongue is not an english.i would be very happy if you can help me so that i can submit. questons: ...
Wednesday, October 12, 2011 at 7:49pm

accounting
Try some of the following links for information: http://search.yahoo.com/search?fr=mcafee​&p=why+do+stock+option+compensations+nee​d+to+be+included+as+an+expense Sra
Wednesday, October 12, 2011 at 3:25pm

accounting
I do not understand why stock option compensations need to be included as an expense when calculating the company's net income?
Wednesday, October 12, 2011 at 3:04pm

managerial accounting
. (TCO 4) Paschal’s Parasailing Enterprises has estimated that fixed costs per month are $115,600 and variable cost per dollar of sales is $0.38. This means that the contribution margin ratio is 62 percent. (a) What is the break-even point per month in sales dollars? (b) ...
Wednesday, October 12, 2011 at 2:25am

managerial accounting
The building and equipment are estimated to cost $1,100,000 (ignore depreciation). The building and equipment have zero estimated residual value at the end of 10 years. Munster’s required rate of return for this project is 12 percent. Net Cash Flow related to each year of...
Wednesday, October 12, 2011 at 2:24am

Accounting
Try some of the following links for information: http://search.yahoo.com/search?fr=mcafee​&p=According+to+the+Sarbanes-Oxley+Act%2​C+the+responsibility+for+issuing+a+repor​t+on+a+company%27s+internal+controls+ove​r+financial+reporting+rests+with%3A+ Sra
Tuesday, October 11, 2011 at 8:42pm

Accounting
According to the Sarbanes-Oxley Act, the responsibility for issuing a report on a company's internal controls over financial reporting rests with: A.) both the company and its independent auditor. B.) the company. C.) the independent auditor. D.) neither the company nor ...
Tuesday, October 11, 2011 at 7:52pm

Accounting
Something wrong here: "owners equity is the beginning capital 28,2800 plus the net income 21,550 which is 49,750" The figure 28,2800 is 28,280? (comma in the wrong place) If I add 28,280 plus 21,550 I get 49,830. If, instead it's 28200 + 21550 = 49750. Now ...
Saturday, October 8, 2011 at 7:25pm

Accounting
Something wrong here: "owners equity is the beginning capital 28,2800 plus the net income 21,550 which is 49,750" The figure 28,2800 is 28,280? (comma in the wrong place) If I add 28,280 plus 21,550 I get 49,830. Sra
Saturday, October 8, 2011 at 7:19pm

Accounting
I have added Below my balance sheet and income statement now the statement of owners equity is the beginning capital 28,2800 plus the net income 21,550 which is 49,750 less withdrawals 5,000 equals 44,750 which does not equal my assets. I cannot figure out what I am doing ...
Saturday, October 8, 2011 at 6:02pm

Accounting
Sorry about that I have added Below are my balance sheet and income statement now the statment of owners equity is the beginig capital 28,2800 plus the net income 21,550 which is 49,750 less withdrawls 5,000 equals 44,750 which does not equal my assets. I cannot figure out ...
Saturday, October 8, 2011 at 5:58pm

accounting
Try some of the following links on accounting tutorials and bonds: http://search.yahoo.com/search?fr=mcafee​&p=accounting+tutorials+on+journal+entri​es+for+bonds Sra
Saturday, October 8, 2011 at 4:26pm

accounting
Try some of the following links for information: 1. http://search.yahoo.com/search?fr=mcafee​&p=Accounting+Tutorials 2. http://search.yahoo.com/search?fr=mcafee​&p=how+to+do+a+balance+sheet 3. http://search.yahoo.com/search?fr=mcafee​&p=how+to+record+bonds+in...
Saturday, October 8, 2011 at 4:03pm

Accounting
P.S. The assets less the liabilities = the Owner's Equity. I do not see clearly the assets? How about a clear Balance Sheet? Try especially the first link here: http://search.yahoo.com/search?fr=mcafee​&p=how+to+do+a+Balance+Sheet Sra
Saturday, October 8, 2011 at 3:57pm

Accounting
Try some of the Accounting Tutorials for information: http://search.yahoo.com/search?fr=mcafee​&p=Accounting+Tutorials What I'm looking at does not make sense. Sra
Saturday, October 8, 2011 at 3:51pm

Accounting
Statement of Owner's Equity I've tried to get it to balnce with the amount of on my balance sheet of $54,500.00 but can not can you help Cash… …… ……… … … … ………$21,500 Accounts Receivable………17,...
Saturday, October 8, 2011 at 3:46pm

accounting
I have figured this out I just want to make sure I am correct in my answers. 1.On January 2, 2007, A company issued $100,000 of 5%, 10 year bonds. The bonds will mature in ten years. The bonds were sold for for 95% (or .95 of par) and will pay interest semi-annually, or twice ...
Saturday, October 8, 2011 at 3:28pm

accounting
On January 2, 2007, a company issued $100,000 of 5%, 10 year bonds. The bonds will mature in ten years. The bonds were sold for for 95% (or .95 of par) and will pay interest semi-annually, or twice a year, on June 30 and Dec 31. Record the journal entries to record the ...
Saturday, October 8, 2011 at 1:49pm

accounting
Debit Accounts receivable Credit Sales
Friday, October 7, 2011 at 12:08pm

accounting
Maria Gonzalez opened a veterinary business in Nashville, Tennessee, on August 1. On August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Office Equipment $6,000, Accounts Payable $3,600, and M. Gonzalez, Capital $13,700. During September...
Thursday, October 6, 2011 at 6:13pm

accounting
Lily Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2009 $400,000 $250,000 2010 $460,000 $300,000 2011 $590,000 $400,000 Lily began business on January 1, 2009, with an investment of $100,000. Instructions ...
Thursday, October 6, 2011 at 6:12pm

accounting
Presented below are three business transactions. For each transaction indicate whether there is an Increase, a Decrease or No Effect on the assets, the liabilities and the owner's equity. Assets Liabilities Owner's Equity (a) Invested cash in the business. Increase ...
Thursday, October 6, 2011 at 6:11pm

accounting
Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees $140,000 Market value of equipment $140,000 ...
Thursday, October 6, 2011 at 6:07pm

accounting
will someone PLEASE answer this question?? :)
Wednesday, October 5, 2011 at 3:12pm

accounting
andrew quits his job as an accountantwhere he earns $45000 per year to go back to scool for 2 years to get an NBA degree. He attends a school that charges $25000 per year for tuition & related expenses. How much is the total cost (explicit plus opportunity) of that degree?
Wednesday, October 5, 2011 at 3:09pm

Accounting
Here are some links on preparing financial statements that may help: http://www.google.com/search?q=how+to+pr​epare+financial+statements&ie=utf-8&oe=u​tf-8&aq=t&rls=org.mozilla:en-US:official​&client=firefox-a Sra
Sunday, October 2, 2011 at 4:48pm

Accounting
You have recently been employed by a large retail chain that sells sporting goods. One of your tasks is to help prepare financial statements for external distribution. The chain's largest creditor, National Savings & Loan, requires that financial statements be prepared ...
Sunday, October 2, 2011 at 4:31pm

accounting 205
A company purchased $4,000 worth of supplies in May. On May 31, the balance in the Supplies account was $2,600. The adjusting entry includes a $1,400 debit to Supplies
Sunday, October 2, 2011 at 1:51am

math
The financial officer for an accounting firm allows Dh 50,000 for computer supplies in the annual budget. After 6 months, Dh 26,200 has been spent on supplies. Is this figure within 55% of the annual budget?
Saturday, October 1, 2011 at 1:37pm

accounting
Try some of the following links for information and ideas, but be sure not to plagiarize: http://www.google.com/search?q=relations​hip+of+the+financial+statements+used+in+​the+financial+plan+for+2010+for+Patton-F​uller+Community+Hospital.+&ie=utf-8&oe=u​...
Saturday, October 1, 2011 at 2:31am

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