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Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting
I hope you can help me. My assignment is called costs and cost control. I have all the definitions and examples of the given terms, except for one. I need to know what shadow cost centers are and an example for shadow cost centers. Thank you and have a great day.
Thursday, April 22, 2010 at 3:11pm

college accounting 12 edition chapters 1-24
Chapter 2 Exercises 2.8 and 2.9 Chapter 3 Exercises 3.3 and 3.4
Thursday, April 22, 2010 at 8:21am

accounting
The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. a. The transaction would increase ...
Thursday, April 22, 2010 at 8:17am

accounting
Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?
Thursday, April 22, 2010 at 12:46am

accounting
Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?
Thursday, April 22, 2010 at 12:39am

ACCOUNTING
Considering the following pricing concepts; Markup Methods (markup on Total Cost, Variable Cost, and Product Cost) and Target Costing, explain when it is appropriate (and why) to use each of the methods. (Hint: use multiple choice questions 1 and 2 to start you in the right ...
Wednesday, April 21, 2010 at 1:50am

ACCOUNTING
Considering the following pricing concepts; Markup Methods (markup on Total Cost, Variable Cost, and Product Cost) and Target Costing, explain when it is appropriate (and why) to use each of the methods. (Hint: use multiple choice questions 1 and 2 to start you in the right ...
Wednesday, April 21, 2010 at 1:49am

Accounting 541Accounting Theory and Research
Efficient markets assume that stockholder wealth is affected by the amount and timing of cash flows. Which alternative is more favorable to them: purchasing before year-end or waiting until January? Explain your answer.
Monday, April 19, 2010 at 7:41pm

accounting
Ms, Sue can you hlep me?
Sunday, April 18, 2010 at 6:33pm

Accounting
E4-1 The trial balance columns of the worksheet for Briscoe Company at June 30, 2008, are as follows. BRISCOE COMPANY Worksheet For the Month Ended June 30, 2008 Trial Balance Account Titles Dr. Cr. Cash $2,320 Accounts Receivable 2,440 Supplies 1,880 Accounts Payable $1,120 ...
Sunday, April 18, 2010 at 6:06pm

accounting
I'm preparing a finacial statement worksheet.
Sunday, April 18, 2010 at 5:50pm

accounting
I'm having trouble computing the accured salaries for appendix e of an assignment can you help. The accured slary for the month is 280 and the salary expense is 560
Sunday, April 18, 2010 at 5:33pm

Accounting (ACC/230)
Can someone please explain to me what the effective tax rate says about a company and means for a company? I am lost.
Sunday, April 18, 2010 at 12:14pm

Accounting (ACC/230)
Where would "asset impairment and store closing charges" appear on a multiple-step income statement? I am not quite sure if it goes under operating expenses or other income and expenses. Could someone please clarify this for me?
Sunday, April 18, 2010 at 9:39am

Accounting
The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____. A. increasing ...
Sunday, April 18, 2010 at 12:53am

Accounting
I need help with this problem. Could someone possibly explain to me how to prepare the journal entry for this problem? Prepare journal entries to record each of the following purchases transactions of a merchandising company. Show supporting calculations and assume a perpetual...
Saturday, April 17, 2010 at 2:33pm

Accounting
Hanson Corp uses a process costing system. Materials are added at the start of the process. Beginning inventory for January consisted of 1,900 units (40% complete for conversion) with a cost of $15,000. 10,900 units were started and completed during January. On January 31, the...
Saturday, April 17, 2010 at 6:29am

accounting
Write a 200- to 300-word response explaining what information would be found in each of the following groupings on a classified balance sheet and how that data might indicate the future success or failure of a business: o Current assets o Long-term investments o Property, ...
Friday, April 16, 2010 at 6:07pm

accounting
I just have a small question about how to calculate the shares of common stocks, no par having the information below, thanks. The following stockholders' equity accounts arranged alphabetically are in the ledger of Tyner Corporation at December 31, 2010. Common Stock ($5 ...
Thursday, April 15, 2010 at 10:24am

accounting
What is the impact on the financial statements of missing a step when completing the accounting cycle?
Thursday, April 15, 2010 at 1:59am

accounting
Exercise 9-13: Accounts receivable turnover L.O. A1 The following information is from the annual financial statements of Lucilla Company. 2009 2008 2007 Net Sales $ 262,000 $ 193,000 $ 245,000 Accounts Receivable, net (year-end) 42,700 40,500 37,200...
Wednesday, April 14, 2010 at 3:14pm

accounting
On june 1, coble company ltd borrows $40,000 from first bank on a 6-month, $40,000, 9% note. The note matures on December 1
Wednesday, April 14, 2010 at 12:19pm

Accounting Math
Please how do i calculate this problem. Your girlfriend just won the Power Ball lottery. She has the choice of $10,000,000 today or a 30-year annuity of $500,000, with the first payment coming today. What rate of return is built into the annuity?
Wednesday, April 14, 2010 at 7:31am

human resources
In 1992, Deloitte & Touche, LLP, was celebrating the tenth year in which approximately 50 percent of its new hires were women. Because it takes nearly a decade to become a partner, the accounting firm based in Wilton, Connecticut, was now sitting back waiting for all the women...
Tuesday, April 13, 2010 at 9:16pm

Accounting
Compare and contrast adjusted book value with market value. What are some of the strengths and weaknesses of each approach? Which method do you think is more accurate? Explain your answer. I DON'T UNDERSTAND!
Tuesday, April 13, 2010 at 8:53pm

human resources
In 1992, Deloitte & Touche, LLP, was celebrating the tenth year in which approximately 50 percent of its new hires were women. Because it takes nearly a decade to become a partner, the accounting firm based in Wilton, Connecticut, was now sitting back waiting for all the women...
Tuesday, April 13, 2010 at 5:46pm

accounting
How do we treat a long term investment in the B/S, does it go under fixed assets or under current assets? Thanks
Tuesday, April 13, 2010 at 9:34am

accounting
You are a hard-working analyst in the office of financial operations for a manufacturing firm that produces a single product. You have developed the following cost structure information for this company. All of it pertains to an output level of 10 million units. Using this ...
Monday, April 12, 2010 at 10:47pm

Accounting
Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the transactions. July 1 Invested $14,000 cash in the business 1 Purchased a used truck for $10,000 paying $3,000 cash and the balance on account. 3 Purchased cleaning ...
Monday, April 12, 2010 at 8:34pm

Accounting
The cost principle requires that when assets are acquired, they be recorded at
Monday, April 12, 2010 at 7:22pm

Accounting/Valuing Assets
What do they mean by compare and contrast adjusted book value with marketvalue? Are there any strengths or weaknessses of these approachs?
Monday, April 12, 2010 at 4:04pm

accounting
A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current month of October: Record these ...
Sunday, April 11, 2010 at 5:04pm

Advanced Accounting
Estimated and Actual Goodwill Passion Company is trying to decide whether or not to acquire Desiree Inc. The following balance sheet for Desiree Inc. provides information about book values. Estimated market values are also listed, based upon Passion Company’s appraisals. ...
Sunday, April 11, 2010 at 4:52pm

accounting
create a balance sheet for this company from May 1 to August 31.Deposit$1000,$600 loan,August 31-balance of checkbook=$690,$400 supplies,Owe employees$1900.00+$200more,$600 for 6 month lease in advance,$300 repair bill,$300 trailor for equipment,$460 withdraw for owner. Need ...
Saturday, April 10, 2010 at 9:55pm

accounting
Total vending machine sales were $2,300 for the month of May. What account are affected
Saturday, April 10, 2010 at 7:35pm

accounting
Your general manager called you into his office to discuss an ongoing problem. He explains that in the past, whenever he wanted to know how the projected income statement might change if sales volume changes, it would take weeks to have the accounting department redo the ...
Saturday, April 10, 2010 at 1:35pm

accounting
A guest become ill and was unable to stay the entire week. A refund was issued in the amount of $1,000. What account was affected?
Saturday, April 10, 2010 at 12:10pm

ACCOUNTING/Bobpursley
Yes I do,but just wondering if there was a website or two that would be helpful. I am about 200 words shy of 750. I thought that adding additional information would bust things up a bit.
Friday, April 9, 2010 at 6:00pm

ACCOUNTING
This is our next assignemt due. I do not know where to begin looking. Any ideas? The analysis of financial statements is critical for determining the financial health of any organization. Financial statement analysis, however, demands a thorough understanding of accounting ...
Friday, April 9, 2010 at 5:51pm

accounting
I've solved most of the problem below, however I'm confused about the kind of information they need in the second part: Prepare the entry to allocate Snider's debit balance to Mantle and Mays. Prepare the entry to record the final distribution of cash. Account/...
Friday, April 9, 2010 at 3:44pm

accounting
The partners in New Yorker Company decide to liquidate the firm when the balance sheet shows the following. NEW YORKER COMPANY Balance Sheet May 31, 2010 Assets Liabilities and Owners' Equity Cash $27,700 Notes payable $13,140 Accounts receivable 24,790 Accounts payable 27...
Thursday, April 8, 2010 at 5:55pm

Accounting
I know that you cannot answer homework questions directly, but in my accounting class we have to do a financial statement for Arcadia Hospital which is our checkpoint for Axia College of University of Phoenix. I did see previous question hoping to get more of a general idea of...
Thursday, April 8, 2010 at 1:04am

accounting
Prepare adjusting journal entries for the year ended (or date of) December 31, 2005, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as ...
Tuesday, April 6, 2010 at 7:25pm

accounting
I have the postclosing trial balance of the company from the previous month. I also have the AR closing & the AP closing numbers. Do these numbers get transfered into the new month general journal and ledger accounts as balances forward?
Tuesday, April 6, 2010 at 7:04pm

accounting
Explain each step of the accounting cycle. Describe at least one transaction that would occur at the company you selected in each of these steps.
Tuesday, April 6, 2010 at 9:21am

accounting
I am attempting to study for an exam for tomorrow and cannot figure out the equity method entries up to 2006 for this problem, can someone please help! Parent Corporation owns 80% of Subsidiary Corporation’s outstanding common stock that was purchased at book...
Monday, April 5, 2010 at 3:32pm

accounting
JTD Corporation issued $800,000 of 20-year, 12% bonds on January 1, 2006, when the market rate of interest was 10%. Interest is payable annually on December 31. Use the present values tables shown via the textbook link above. a. Calculate the price of the bonds on January 1, ...
Monday, April 5, 2010 at 2:37pm

accounting
BizKid Company’s adjusted trial balance on August 31, 2005, its fiscal year-end, follows:
Sunday, April 4, 2010 at 11:19pm

College Accounting
Night office manager's returned $100 worth of supplies to Gordan office supplies. Night received a $100 reduction on the account. Which to account was affected
Sunday, April 4, 2010 at 8:33pm

accounting
If you are puchasing furniture from your business and want to use your own owners equity instead of cash what would be the journal entry if any
Sunday, April 4, 2010 at 4:42am

Accounting
Can you explain what exactly is financial gain? I am doing a research paper and it must include this?
Saturday, April 3, 2010 at 12:07pm

accounting
Unit 1 Individual Project Deliverable Length: 2-3 paragraphs Details: The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheets. ...
Friday, April 2, 2010 at 7:43pm

College accounting
In order to provide snacks for guests on a 24-hour basis, Night sign a contact with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales.Estimated payments are made at the beginning of each month. Night received a ...
Thursday, April 1, 2010 at 8:07pm

Accounting
I am so confused on how to answer this question given from my instructor. I see many websites that pertain to present value. Is there an explanation somewhere on the internet that would help explain? I googled the question and found"Net present value - Wikipedia, the free...
Thursday, April 1, 2010 at 12:11pm

Accounting
I was just wondering if I was doing this right. In my accounting class we are studying furture value. I was wondering if I was doing this one right... if I was to figure out $5000 that was compounded quartery at 6% for five years, how much would that be. I did this... 5000(1....
Thursday, April 1, 2010 at 1:00am

Managerial Accounting
1) If the Cost were split simply 50-50- than allocated expense would be - Advertising Expenses - $ 2.5 M for each business and warehouse expenses - $ 1.5 M for each business 2) As per my view the Advertisement expenses should be allocated in the ratio of sales (150:20) and ...
Wednesday, March 31, 2010 at 7:19pm

accounting
I need an understanding of a few matters in my accounting class: 1) what are annuities and why is it necessary to calculate there present value? 2) How does the frequency of interest compounding, regardless of the rate of interest or period of accumulation affect the future ...
Wednesday, March 31, 2010 at 5:25pm

accounting
Select the incorrect statement about budgeting committees. A)Budgeting committees usually have responsibility for the coordination of budgeting activities. B) Membership on the budgeting committee is restricted most often to accountants because the budget involves numbers. C) ...
Tuesday, March 30, 2010 at 5:02pm

accounting
John wants to dissolve his business.His balance sheet shows assets with a value of $250,000 in total. Liabilities are shown at 200,000 leaving equity of $50,000 for John.He only expects to get $180,00,000 for his assets when he sells them because some fixed assets are old and ...
Tuesday, March 30, 2010 at 3:53pm

accounting
novelty industries is establishing a sinking fund to redeem rs 5000000 bond issue which matures in 15 years.how much do they have to put into the fund at the end of each year to accunulate the rs 5000000 assuming the funds are compounded at 7% annually.
Tuesday, March 30, 2010 at 1:29am

accounting
Deane Company issues $5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and January 1.The straight-line method is used to amortize bond discount. Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2008, assuming no ...
Monday, March 29, 2010 at 3:41pm

business
Is it necessary for a finance Manager (CFO) to understand Accounting if the firm has a professional accountant (CPA)on staff? Why or Why not?
Monday, March 29, 2010 at 2:04pm

Principle of Accounting
t is stand accounting procedures, or GAAP, to make an adjusting entry to remove the current year�s principle from the long-term liabilities. This entry reduces the long-term liabilities and increases the current liabilities. You are the bookkeeper for Biker�s ...
Monday, March 29, 2010 at 1:15am

Accounting PLEASE HELP!!!!!!!!!
Reading Foods is interested in calculating its weighted average cost of capital (WACC). The company’s CFO has collected the following information: • The target capital structure consists of 40 percent debt and 60 percent common stock. • The company has 20-year ...
Sunday, March 28, 2010 at 8:52pm

Accounting
to find noncontrolling?? you add the common stock and retained earning and then minus the investment? is this correct
Sunday, March 28, 2010 at 8:30pm

Math (Accounting)
Reading Foods is interested in calculating its weighted average cost of capital (WACC). The company’s CFO has collected the following information: • The target capital structure consists of 40 percent debt and 60 percent common stock. • The company has 20-year ...
Sunday, March 28, 2010 at 8:22pm

accounting
How is the receipt of a dividend recorded under the equity method?
Sunday, March 28, 2010 at 11:20am

Accounting
At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reversing entry.
Saturday, March 27, 2010 at 10:36am

Compound Interest!
Mr. and Mrs.Eng's property taxes,accounting to $2450, are due on July 1. What amount should the City accept if the taxes are paid 8 months in advance and the City can earn 6% compounded monthly on surplus funds?
Friday, March 26, 2010 at 10:29am

accounting
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: * Increase an asset and increase a liability. * Increase one asset and decrease another asset. * Decrease an asset and decrease owner's ...
Thursday, March 25, 2010 at 1:35pm

accounting
I need a essay on environmental accounting and describing the concepts of it
Thursday, March 25, 2010 at 1:52am

MANAGEMENT ACCOUNTING
COSTS CAN BE CLASSIFIED INTO TWO CATEGORIES FIXED AND VARIABLE COSTS THESE COST BEHAVE DIFFERENTLY BASED ON THE LEVEL OF VOLUME SUPPOSE WE ARE RUNNING A RESTAURANT AND HAVE IDENTIFIED CERTAIN COST ALONG WITH THE NUMBER OF ANNUAL UNIT SOLD OF 1000 TOTAL COST OF RAW MATERIAL ...
Wednesday, March 24, 2010 at 8:27pm

Management Accounting
I don't know which formulas to use for these questions. Many churches sponsor bingo games, a tradition stemming from the time when only specific nonprofit institutions were allowed to sponsor games of chance. Reverend Justin Olds, the pastor of a new parish in Orange ...
Wednesday, March 24, 2010 at 11:20am

Advanced Accounting
Final Exam ACC440 Problem 1 On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. RoadTime’s December 31, 20X1, trial balance in SFr is as follows: Debit Credit...
Wednesday, March 24, 2010 at 12:45am

accounting
Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general journal. The following transactions occur in the month of March: 1) Mar 2 Sold merchandise costing $300 to B Fager for $450 cash, invoice no 5703. 2) 5...
Tuesday, March 23, 2010 at 12:58am

Accounting
Your company is considering a replacement of an old delivery van with a new one that is more efficient. The old van cost $30,000 when it was purchased 5 years ago. The old van is being depreciated using the simplified straight line method over a useful life of 10 years. The ...
Sunday, March 21, 2010 at 11:53pm

Accounting
using the financial statements of landry's restaurant located in appendix a of the text fundamentals of financial accounting 1st ed by phillips libby and libby compute teh following ratios for 2002 and 2003 a. Return on Equity b. Inventory Turnover I cannot locate in ...
Saturday, March 20, 2010 at 4:52pm

Accounting
using the financial statements of landry's restaurant located in appendix a of the text fundamentals of financial accounting 1st ed by phillips libby and libby compute teh following ratios for 2002 and 2003 a. earnings per share b. return on Equity c. current ratio d. ...
Saturday, March 20, 2010 at 3:42pm

accounting
sold 7500 shares of commond stick at $86 per share, received cash
Friday, March 19, 2010 at 11:25pm

accounting
• Write a 200- to 300-word summary analyzing the implications of profitability and the net income of the company.
Thursday, March 18, 2010 at 11:44pm

accounting
preferred shares, $2,89 non-cumulative, 10,000 shares authorized, issued and outstanding for $498,700 common shares, unlimited shares authorized, 120,000 shares issued and outstanding for $946,900 and retained earnings is 450,530 the only share transactions during 2011 were ...
Sunday, March 14, 2010 at 5:19pm

Accounting
A company leases a piece of equipment to another company and appropriately records the 10 year lease as a sale. I have to determine the amount of profit to record in the first year - The lease payments are 500,000 for 10 years. The cost of the equipment is 2,675,000. The ...
Sunday, March 14, 2010 at 8:46am

accounting
At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reversing entry.
Saturday, March 13, 2010 at 8:50pm

Accounting
Explain the components of cost-volume-profit analysis . What does each of the components mean?
Saturday, March 13, 2010 at 1:33pm

Finance
The Norman Company needs to raise $50 million of new equity capital. Its common stock is currently selling for $50 per share. The investment bankers require an underwriting spread of 3 percent of the offering price. The company's legal, accounting and printing expenses, ...
Friday, March 12, 2010 at 2:26pm

Accounting
FIN 200 Checkpoint: break even analysis
Thursday, March 11, 2010 at 11:58pm

Auditing
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments. B. Recurring operating losses that may ...
Thursday, March 11, 2010 at 11:53pm

Accounting
Your department’s accounting software is extremely outdated and you have included the purchase of new software in this year’s fiscal budget. You have decided it is time to start looking into purchasing your company’s accounting software and have chosen someone ...
Thursday, March 11, 2010 at 7:02am

statistics
The accounting department at Weston Materials, Inc., a national manufacturer of unattached garages, reports that is takes two construction workers a mean of 32 hours and a standard deviation of 2 hours to erect the red barn model. Assume the assembly times follow the normal ...
Thursday, March 11, 2010 at 1:16am

financial Accounting
Johnson's boat yard Inc., is completing the accounting process fr he year just ended, Novembe. 30, 2010. The transactions during 2010 have been journalized and posted. The following data with respect to adjusting entries are available: On October 1,2010, Johnson paid $1,...
Wednesday, March 10, 2010 at 3:47pm

managerial accounting
Using the data below please do the following in an Excel spreadsheet and e-mail it directly to me. 1. Prepare an income statement using variable costing (25 points) 2. Compute the unit product cost under both absorption and variable costing (10 points) 3. If net income under ...
Wednesday, March 10, 2010 at 10:30am

accounting/auditing
(Drug Benefits and Post Retirement Liabilities) Delphi Company reduced its other post reitrement benefits by approx 500 million because of a change in the law. The federal government will not reimburse companies for prescription drug benefits that it provides to its employees ...
Tuesday, March 9, 2010 at 7:53pm

Financial Accounting
Here is the problem: if you could just help me get started in the right direction that would be great, I don't even know where to begin with this question ellar Company was established to manufacture components for the auto industry. The components are shipped the same day...
Tuesday, March 9, 2010 at 5:53pm

Accounting
On January 1, 2009, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual rent payments on December 31 of each year. The payments are $11,000 the first year and increase by $600 per year. Benefits expected ...
Monday, March 8, 2010 at 7:07pm

survey of accounting
1. A corporation issues $18,000,000 of 6% bonds to yield an effective interest rate of 7%. a) was the amount of cash received from the sale of the bonds more or less than $18,000,000? b) identify the following amounts related to the bond issue: 1) face amount, 2) market rate ...
Monday, March 8, 2010 at 6:11pm

Accounting
Assume a $4000 investment and the following cash flows for two alternatives. Under the payback method, which of the following would be concluded? a. Investment X should be selected b. Investment Y should be selected c. Investment X and Y provide the same payback period d. ...
Monday, March 8, 2010 at 11:45am

Accounting
Write a 200- to 300-word response to the following: You have been hired into a new company to oversee the accounting department. What type of financial reports would you expect to see in your department? How will you use the financial reports available to you to make business ...
Friday, March 5, 2010 at 7:45pm

Financing and Accounting
What does rule of thumb evaluation method mean? no matter how many times i read this, I get different answers..and how would I calculate this or what is the formula for the rule of thumb evaluation method???
Friday, March 5, 2010 at 6:55pm

Marketing
Please check and correct my answers for the following multiple choice questions: 1-For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is: *A. One of the universal functions of ...
Friday, March 5, 2010 at 6:16pm

Financial accounting
What does rule of thumb evaluation method mean? no matter how many times i read this, I get different answers..and how would I calculate this or what is the formula for the rule of thumb evaluation method??? I am supposed to compute this example: Arcadia Hospital Income ...
Friday, March 5, 2010 at 5:43pm

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