“Bigelow Industries manufactures swim caps. Their operating leverage is 3. Each cap sells for $10 and has a contribution margin of $6. They expect to sell 37,500 swim caps. Their fixed costs are:
As of December 31, 2012, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2012, there was $1,600 of materials on hand. During the year, the company purchased $324,000 of ma
For companies that produce several products (or provide multiple services), why would the concept of product mix be important?
Comparative balance sheets for Bayshore Industries, Inc. as of December 31, year 2 and year 1 are presented below. Prepare the cash from operations section of the statement of cash flows using the DIR
The controller of Gomez Corporation believes that company’s yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Gomez Corporation, nervous that the stockholders m…
Goebel Company issues $5,000,000 face value of bonds at 96 on January 1, 2006. The bonds are dated January 1, 2006, pay interest semiannually at 8% on June 30 and December 31, and mature in 10 years.
here the other $40, i did split the payment to $90 & $40
describe the SEC activities and literature involved in the regulation of accounting
“”During 2008, the United States witnessed an historic election, the collapse of its credit markets, and an
unprecedented level of government interv”
“A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is
debit Cash, $6,120; credit Notes Receivable, $6,120
debi”
“Hello Professor,
What is the proposed changes to the FASB ‘Going concern’ project? What are the reasons for the changes?
Thanks,
On January 1, 2007, a company issued 10-year, 10% bonds payable with a par value of $500,000, and received $442,647 in cash proceeds. The market rate of interest at the date of issuance was 12%. Th
“a. In August, 2008 a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Rooney Co. for $800,000. Counsel believes it is reasonably possibl”
The chief cost accountant for Mountain Glade Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning March 1 would be $546,00, and tota
“I have the following question for one of my classes:
AC 550 Project III
Edmond Company exchanged machinery with an appraised value of $1,755,000, a recorded cost of $2,700,000 and Accumulated Dep”
“100% of the income of Whitemop Corporation will be treated as personal holding company
type income. Whitemop Corporation is owned by the following persons:
20% – Mr. Ted Mitchell – Darien Whitemop=s”
“””The ledger of Garcia Company at the end of the current year shows Accounts Receivable $96,000; Credit Sales $780,000; and Sales Returns and Allowances $40,000.
Instructions
If Garcia uses the d”
Marvin L. and molly S. Hall are married and live at 310 poplar avenue,fort wayne IN 46802.They file a joint return and are calendar year, cah basic taxpayers.MArvin is a self-empoyed claims adjuster (
Should partnerships be given as much flexibility as they currently enjoy? Notice how some legislative changes have restricted this flexibility. Include commentary on these changes in your response
“Please Note: It is recommended that you save your response as you complete each question.
Question 1 (2 points)
Which of the following is not treated as a change in accounting principle?”
Abby Company has just implemented a new cost accounting system that provides two variances for fixed manufacturing overhead. While the company’s managers are familiar with the concept of spending vari
On June 1, Mason Company issued 8,000 shares of its $10 par common stock to Dixon for a tract of land. The stock had a fair market value of $18 per share on this date. On Dixon’s last property tax bil
“Kelton Co., which produces and sells skiing equipment, is financed as follows:
Income tax is estimated at 40% of income.
Determine the earnings per share on common stock, assuming that the incom”
“the preferred stock of pollard’s pools pays an annual dividend of $5.50 a share and sells for $42 a share. The tax rate is 34 percent. What is the firm’s cost of preferred stock?
28 percent
b-“
“The Rupina Company had the following Sales and Expenses during its first year of operations:
Purchases 50,000
Freight In 15,000
Sales 155,000
Advertising 25,000
Salaries – Sales Staff 82,000
..”
Penquin Corporation, a C corporation, has two equal shareholders, Bob and Leo. Penquin earned $100,000 net profit during its first year of operations and paid a dividend of $50,000 to each shareholde
“The following information for SuperStar Company is provided:
Current Assets $215,000
Long-term assets”
“Rent on a manufacturing plant is an element of: (Points : 5)
Conversion cost – yes, period cost – no
Conversion cost – yes, period cost – yes
Conversion cost – no, period cost”
Landrover, Inc. had 150,000 shares of common stock issued and outstanding at December 31, 2010. On July 1, 2011, an additional 25,000 shares of common stock were issued for cash. Landrover also had
A company expected its annual overhead cost to be $900,000 and direct labor costs to be $1,000,000. Actual overhead was $870,000, and actual labor costs totaled $1,100,000. How much is the company’s…
What costs are assigned to merchandise inventory?
List at least three items which will increase a partner’s basis in a partnership and at least three items which will decrease a partnership’s basis.
The controller of Gomez Corporation believes that company’s yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Gomez Corporation, nervous that the stockholders m
“Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000,
The Four Winds Hotel in downtown Phoenix has annual fixed costs applicable torooms of $9.2 million for its 600-room hotel, average daily room rates of $ 105, and average variable costsof $25 for each
I need Part B done. Course Project #1 Overview Course Project #1 consists of two parts, A and B, respectively. There are 10 Requirements for you to complete in this exercise, Part A has 13 and Part …
I have attached the problems and I have to use Excel. P3-10 Summary of Payroll Procedures Giovanni Construction Company uses the job order cost system. In recording payroll transactions, the following…
see file On January 8, the end of the first weekly pay period of the year, Regal Company’s payroll register showed that its employees earned $27,760 of office salaries and $70,240 of sales salaries. W…
“1. Interest is removed from net operating profit after taxes (nopat) because it
Enhances ROA of companies that utilize high levels of debt
Is an expense that is not deductible from income ta”
What is a derivative? What is a hedge? What is a forward exchange contract? How might each of these financial instruments be used in foreign exchange?
“Weld Canning company has a busy season lasting six months from September through February and a slack season lasting from March through august. Typical data for these seasons are as follows:
Average”
“38. Use the following table,
Present Value of an Annuity of 1
Period 8% 9% 10%
1 .926 .917 .909
2 783 1.759 1.736
3 577 2.531 2.487
A company has a minimum required rate of return of”
Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She issues additional common stock for $1,000.
“Fiduciary Fund activities report in terms of Revenues and Expenses.
True?
False?”
Listed below are common terms associated with bonds a. Bond certificate b. Bond issue c. Bond indenture d. Unsecured bonds e. Debenture bonds f. Secured bonds g. Term bonds h. Serial bonds i. Register…
A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $200. This adjusting entry results in:
The stock of a corp is 70% owned by Carol and 30% owned by her brother Carl. During 2005 Chris transferred property with a basis of 100K and a FMV 120K as a contribution of capital to the the corp.
“a. What was Topps’ inventory turnover ratio and average days to sell inventory for 2006 and
2005?
Is the company’s management of inventory getting better or worse?
What cost flow met…”
A machine will cost $45,000 and is expected to generate equal annual cash flows of $15,000 at the end of each of the next five years. In addititon, the machine is expected to have a salvage value of $
“what are the main characteristics of intangible assets? Intangibles have either a limited useful life or an indefinite useful life. How should these two different types of intangibles be amortized?”
“TJones Manufacturing Company has the following account balances at year end:
Office supplies $ 4,000
Raw materials 27,000
Work-in-process 59,000
Finished goods 72,000
Prepaid insurance”
“1. (TCO 4) The postponement of a project until conditions are more favorable:
is not a valuable option.
is referred to as the option to extend.
could cause a negative n”
“Summarize how government and not-for-profit accounting differs from for-profit accounting.
One or two paragraphs please.”
“Problem C: 3-65:
Permtemp Corporation formed in 2008 and, for that year, reported the following book income statement and balance sheet, excluding the federal income tax expense, deferred tax assets”
“Arkansas Corporation provided the following information regarding its only product–tables:
Selling price per unit $65″
Can deleted files always be recovered? Explain.
On December 31, 2010, a corporation issued $200,000 face value, 12% bonds that mature 10 years from the date of issue. The issue price was 97. If the firm uses the straight-line method of amortizati
“Cash conversion cycle Primrose Corp has $15 million of sales, $2 million of inventories, $3 million of receivables, and $1 million of payables. Its cost of goods sold is 80 percent of sales, and it f
Perry organized Cardinal Corporation 10 years ago by contributing property worth $2 million,
“What is the difference between conservative recognition and cookie jar reserves?
Thanks
Irma”
Enterprise funds are accounted for like comparable businesses; nevertheless, they have their quirks. The Green Hills Water District was established on January 1 to provide water service to a suburban …
The following data relate to a construction job started by Syl Co. during 2007: Total contract price $100,000 Actual costs during 2007 20,000 Estimated remaining costs 40,000 Billed to customer during
In 2010, Wild Corporation reported a net loss of $70,000. Wild’s only net income adjustments were depreciation expense $81,000, and increase in accounts receivable $8,100. Compute Wild’s net cash prov
To raise capital, companies might sell bonds. This allows them to bypass lenders such as banks and go directly to the inventing public. Your company is planning to sell bonds with a face amount of $1,
“Assume a beginning inventory of $28,000, ending inventory of $47,000,
and purchases of $110,000.
If the gross profit percent is 60%, how much is net sales revenue?”
“Hello,
I will be submitting 3 questions today. I will be submitting another set tomorrow. I need the tutor to show me the steps and calculations on how they get the answer. I really appreciate your”
“41. 45-Trotman, Inc., a manufacturing company, has engaged a CPA to audit its financial statements for the year ended June 30, year 2. The CPA observed the physical inventory count at June 30, year 2,”
Problem A. — Leases On January 1, 2008, Grate Company (as lessor) entered into a noncancelable lease agreement with Barrell Company for machinery which was carried on the accounting records of Grate…
“The total of the accounts receivable subsidary accounts and the account receivable controlling account should balance to each other at the end of the period.
True or false”
(Learning Objective 1: Analyzing transactions) The following selected events were experienced by either Simple Solutions, Inc., a corporation, or Bob Gallagher, the major stockholder. State whether ea…
Maulder Company provides the following information for the month ended October 31, 2010: Sales on credit 280,000, cash sales 100,000, sales discount 13,000, sales return and allowances 11,000. Prepare
“Case 10-3
Restructuring Costs
Pharma Co. is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accordance with (1) U.S. GAAP for reporting to its U.S.-based lender and”
“Fox Company purchased items of inventory as follows:
May 3 100 units @ $3.05
May 10 150 units @ $3.10
May 15 120 units @ $3.15
————————————————-“
“. What is berry adjusted basis for the partnership interest at
the end of the year?
How much income must berry report on her tax return for the
current year?”
“Allsap Apple Company buys apples from local orchards and presses them to produce apple juice. The
pulp that remains after pressing is sold to farmers as livestock food. This livestock food is account”
“1. Which is not a section in the Cash Flow Statement:
Current Activities
Operating Activities
Financing Activities
Investment Activities
T F The Cash Flow Statement gives you the”
During 2009, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2010, Jackson reported net income of $132,000 while paying dividends of $36,000. Assume that Matthews Co.
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 6 times, total current assets of $810,000, and cash and marketable securities of $120,000. What were K
“Consider two companies: Quantum Products and Aquafin Products. Senior managers at Quantum Products are evaluated in terms of increases in profit. In fiscal 2011, Quantum Products had a net operating
“E16-20 (EPS with Convertible Bonds, Various Situations) In 2006 Chirac Enterprises issued, at par,
60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues”
“4) Which of the following does not represent an advantage of the unadjusted rate of return over the payback method for evaluating capital projects?
The unadjusted rate of return is a percent”
Assuming that the City maintains the books and record in a manner that facilitates the preparation of the fund financial statements, prepare all necessary 2003 journal entries to record the following
“5 Kelson Company applies overhead to jobs on the basis of 60% of direct labor cost. If Job 201 shows $27,000 of manufacturing overhead applied, the direct labor cost on the job was:
a $45,000 b $1″
Starling Corporation, a closely held personal service corporation, has $150,000 of active income, $60,000 of portfolio income, and a $165,000 passive loss during the year. How much of the passive loss
i need help on the questions for my final exam..please see attachment for questions Financial Accounting: Tools for Business Decision Making 1. Requiring employees to take vacations is a weakness in t…
Carleton Service Center just purchased an automobile hoist for $15,000.The hoist has a 5-year life and an estimated salvage value of $1,080. Installation costs were $2,900, and freight charges were $8
Fashion Industries, Inc. manufactures dresses which it sells throughout the United States and South America. Among its 5,000 employees were 165 youngsters aged 14 and 15 who worked fulltime duri…
“ABC, Inc includes the following data for 2009:
Sales (80,000 units) $ 5,660,000
Cost of goods sold 2,100,000
Gross Profit 3,560,000
Expenses”
Posey Corporation distributes land with a Fair Market Value of $20,000 and a basis of $12,000 to Brock, a shareholder. Posey’s earnings and profits are $125,000. What must Brock report as income from
“Assignment:
First of all, decide whether you want to risk manage (for purposes of doing your assignment). It could be a ‘whole organisation’ or ‘part of an organisation’. Make it clear at t…”
(2 points) Wilson Co. purchased land as a factory site for $600,000. Wilson paid $60,000 to tear down two buildings on the land. Salvage was sold for $5,400. Legal fees of $3,480 were paid for title
Suppose Dow Chemical receives quotes of $0.008242-45 for the yen and $0.03023-27 for the Taiwan dollar (NT$) from Bank of America (BOA). That is, S($/¥) = $0.008242-0.008245 and S($/NT$) = $0.0302…
“””I would like to get the solutions for the case BIG AL’S PIZZA, on the book”” managerial accounting: a focus on ethical decision making”” 5e edition by Jackson,sawyers, Jenkins.
it is located on page 5″
On January 1, 2009, the Plimpton Corporation leased some equipment on a 2-year lease, paying $15,000 per year each December 31. The lease is considered to be an operating lease. Prepare the general jo
“Purchase Commitments)
Prater Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed a long-term noncancelable purchase commitment”
“The existing balance in Allowance for Doubtful Accounts is considered in computing bad debts expense in the
percentage of receivables and percentage of sales basis.
percentage of receivab”
The Winter Products Division of American Sports Corporation produces and markets two products for use in the snow: Sleds and Saucers. The following data were gathered on activities last month:
Cianci Accounting Services had $100,000 in gross receipts for the year. It cost the company $35,000 to lease and operate its offices for the year. The company’s landlord gave the company a $100 mon
Popcorn Inc purchases a sports sedan on June 1, 2009 for $30,000. the vehicle is used 100% for business reasons by the president. Taking the luxury car depreciation limits into consideration, and asus
“1. (TCO 1/3) The capitalized cost of equipment excludes: (Points: 5)
Sales tax.
Installation
(TCO 2) Goodwill is: (Points: 5)”
“On January 1, 2009, Riney Co. owned 85% of the common stock of Garvin Co. On that date, Garvin’s stockholders’ equity accounts had the following balances:
common stock ($5 par value) $250000
addi”
10) Joint products A and B emerge from common processing that costs $80,000 and yields 5,000 units of Product A and 4,000 units of Product B. Product A can be sold for $100 per unit. Product B can be
“what amount of 2007’s revenues went towards covering fixed costs and generating profits. You determine that the contribution method is what is being looked for.
Income Statement
31-dec-2007
Reven”
“Flex Budget
Budget Data
Units Budgeted $ Budgeted Units Actual
Production
Mid-Grade 2,585 2,800
High-End 517 400
Dire”
see the attachment Thomas Company signs a five-year capital lease with Universal Company for office equipment. The annual lease payment is $14,000, and the interest rate is 8%. Requirement 1: Compute …
“A logical substantive test for accrued interest receivable would be to
Compare the interest income with published interest- investment records.
Verify the interest income by a calculation base”
Edmond Company exchanged machinery with an appraised value of $1,755,000, a recorded cost of $2,700,000 and Accumulated Depreciation of $1,350,000 with Rosen Corporation for machinery Rosen owns. The
“Selected financial data for Irvington Company appear below:
Account Balances
Beginning
of year End of
year
Preferred stock $125,000 $125,000
Common stock 300,000 400,000
Retained ear”
“Purchase Commitments)
Prater Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed a long-term noncancelable purchase commitment”
How do partnerships and corporations differ in accounting processes? Reporting? Financial statements? What are the benefits of each? How would one select one from another?
“Operating lease.
Maris Co. purchased a machine on January 1, 2011, for $1,000,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be dep”
“As a graduation present Barbara Brooks received 1,000 shares of stock from her aunt. The stock has a fair
market value of $25,000 at the time of the gift. The aunt’s adjusted basis in the stock at …”
“Problem 38, page 198-199
L0. 4 (Journal entries; cost accumulation) Stock Co. began 2010 with three job in process:
TYPE OF COST
Job # Direct Mat. Direct Lab.”
Green is a practicing physician in Chicago who, as an avid blackjack and slot machine player, travels to Las Vegas every other weekend to gamble. He would like to know what criteria are used to…
Pam owns a sole proprietorship, and Kevin is the sole shareholder of a C (regular)corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how the…
“Which of the following accounts would not be affected if a company failed to report returns of merchandise sold?
Inventory
Sales returns
Sales allowances
Cost of good sold”
“Mr. Burns has asked you to do the following as part of your analysis of the capital
investment project.
Calculate the net present value using the numbers provided. Assume that annual cash
flow”
“Anthony is a surety on a debt owed by victor to day. which of the following is correct?
The surety is in the process of exercising its right of exoneration against the debtor
the debtor had di”
Sloane is a shareholder in a calendar-year S corporation. At the beginning of the year, her stock basis is $10,000, her share of AAA is $2,000, and her share of corporate AEP is $5,000. She receives a
What are commonly used components when measuring economic damages in a wrongful discharge case? describe each compnent and explain why it should be used in the damage calculation.
“44. A transaction that is likely to cause an increase in a current liability is:
Payment of accrued wages.
Accrual of interest expense.
Depreciation of equipment.
Accrual of bad debts”
Please find attached EXERCISE 6-12. Problems Associated with Too Few Cost Pools [LO 4] Mott Manufacturing allocates factory overhead using one cost pool with direct labor hours as the allocation base….
I understand the difference between discretionary fixed costs and committed fixed costs. I do not understand the question “Explain how to arrive at the appropriate derivation of a cost.” Does it means…
“Have to show all work
Inflation is expected to average five percent for the long term and Mr. Smith earned $74,000 this year, how much must he earn in 20 years just to keep up with inflation and”
“Last year harrington had sales of 325,000 and net income of 19,000and year end assets were 250,000. The total debt to total assets ratio is 45%
what is roe”
I am working on a group project with several other people and i think we have been working on this sooo long now that we are all just confused. Can you please help us fix this assignment? Ba ir Compa …
A) You buy a machine worth $200,000. Its scrap value is $10,000, and its expected useful life is five years. Show me its depreciation expense in both year one and year two using each of the metho
Questions Attached Am sorry for the time shortage, but this is the maximum time we can afford. Also, the word limit for part c is 300 words (approximately a page single spaced font 12 times new roman)…
I am having trouble with the general journal and unadjusted trial balance for the Grady Wholesale Practice Set fro McGraw Hill. Is there any way to view these pieces of the practice set (mine is 5th e
Assistance please with attached cost accounting problem
“you are required to prepare a Trading, Profit and loss Account for the year
ended 30 June 199-, and a Balance Sheet at that date. All the necessary
information is given in the fo”
The following are the summarised financial staments of A Ltd (a supermarket), and B Ltd (a company engaged in heavy engineering) for the same financial year. Balance sheets: A Ltd B Ltd £0 £0 £0 £…
“On January 1, 2011 Mclean Company makes the 2 following acquisitions.
Purchases land having a far market value of 300,000 by issuing a 5 yr zero interest bearing promissory note in the face amou”
1-Ben’s property, which has an adjusted basis of $45,000, is condemned by the state government. The authorities replace his property with other qualified property which cost them $120,000. What is Ben
restaurant is deciding whether it wants to update its image or not. It currently has a cozy appeal with an outdated décor that is still in good condition, menus and carpet that need to be replaced an…
After several years of a difficult marriage, Donald and Marla agreed to a divorce. As part of the property settlement, Marla transferred to Donald corporate stock, a commercial building, and a persona
bert company budgets sales of 1,250,000 fixed costs of 450,000 and variable costs of 200,000. what is the contribution margin ratio for bert company? and if the contribution margin ratio for ernie com
“Albert Gable is a partner in a CPA firm located in a
small midwestern city which has a population of
approximately 65,000. Mr. Gable’s practice is primarily
in the area of personal financial plan…”
Venetian Company management wants to maintain a minimum monthly cash balance of $20,500. At the beginning of April, the cash balance is $21,750, expected cash receipts for March are $244,763, and cash
What is the Doubtful Accounts Expense for the year ended December 31, 2009 if the Accounts Receivable at December 31, 2009 is $440, the Allowance for the Doubtful Accounts at January 1, 2009 is $64, t
“Financial Statement Fraud Schemes
You are the investigator assigned to Apollo Shoes. Based on the nature of the company and the evidence provided to you, you must determine which financial stateme”
Elsie, Elmer’s wife, did not own any of the Virginiana Mutual Fund shares, but she did receive $175 in interest on a savings account at the Moss National Bank and $1,475 in interest on California Muni
Kuczenski Corporation’s cost formula for its manufacturing overhead is $45,700 per month plus $53 per machine-hour. For the month of March, the company planned for activity of 6,200 machine-hours, b
“Can you please show me this exercise below given to me by you in excel format?
Discount Rate is: 15%
Statement showing calculation of NPV:
Particular Time PVFactor Amount V
Cash outflow 0 1″
I have attached my excel worksheet with the first two parts of the problem solved, however, I am having difficulty compelting the third part which deals with preferred shares. The text tells me the co…
“tabulate the following items and state opposite each
a, class of account
b, whether it usually has a debit or a credit balance
c, whether the balance appears in the trading account, the profit and”
Jasmine Lee owns a catering company that serves food and beverages at exclusive parties and business functions. Lee’s business is seasonal, with a heavy schedule during the summer months and holiday
What are some of the key elements of activity-based costing?
“If a company borrows money from a bank as an installment note, the interest portion of each annual payment will:
equal the interest rate on the note times the carrying amount of the note at”
Provide a scenario in which either horizontal, vertical or ratio analysis would be used in a health care situation.
which statement in true concerning process cost system
“1.
(Points: 1)
With respect to a corporation, select the statement that is correct.
Its organization requires an approved charter which is governed by state law.
Ownership rights to the co”
Hello: Could you help me finish this important assignment? I get too much test during this week and I don’t have enough time to finish all of the question in this assignment. All of the question are i…
Bozeman Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown on page 231 for the production of 3,000 units. The utilities and maintenance
assuming the transaction does not have commercial substance
“QUESTION 1
Domestic Auto Parts (MAP), a $1 billion subsidiary of a U.S. auto parts manufacturing company, manufactured and marketed original and after-market parts for automobile producers in the U.S”
Several individuals operate the cash register using the same register drawer.
A retail store has three departments, A, B, and C, each of which has four full-time employees. The store does general advertising that benefits all departments. Advertising expense totaled $90,000 for
Distinguish between a strategic plan and a tactical plan. How are these plans related?
“1)costs that are not directly traceable to a specific segment of a business are called ____ costs.
a)sunk
b)common
c)fixed
d)incremental
2)which of the following is not true of the direct cost”
Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2009. In October, 2009, Rick Co.’s Board of Directors declared and distributed a 1% common stock dividend when the mark
Robert Reed, a bachelor, maintains his parents in a nursing home. They have no income of their own and are completely dependent on their son. His parents are 75 and 72 years of age. Robert has the fol
“The following question has to do with federal taxation:
Kirkland has the following capital gains and losses for 2008: $5,000 STCL, $3,000 28% gain, $3,000 25% gain, and $6,000 5%/15% gain. Whic”
“1. When converting an income statement from a cash basis to an accrual basis, which of the following is incorrect?
an adjustment for depreciation reduces the net income
an adjustment for bad”
“A company that uses perpetual inventory system made the following cash purchases and sales:
January 1 Purchased 100 units at $10 per unit.
February 5: Purchased 60 units at $12 per unit.
Ma”
“FINANCIAL ACCOUNTING Question:
Revaluation of Property, Plant and Equipment.
Rosen Ltd has a policy of revaluing its motor vehicles to fair value. The details at 30 June 20X4 relating to Rosen L”
“Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 5% bon”
During 2007, a company began researching and developing a new technology. By March 31, 2008, the company had determined the new product was technologically feasible. As of April 30, 2008, the compa…
On January 1, 2008, Downs Company granted Tim Wright, an employee, an option to buy 1,000 shares of Downs Co. stock for $25 per share, the option exercisable for 5 years from date of grant. Using a f
“Goodwill and Minority Interest
Dream, Works Animation makes well -known animated films like Sherk 2. Two items on the company’s 2008 balance sheet are as follows:
Goodwill —-$34,216
..”
A piece of new equipment will cost $70,000. The equipment will provide a cost savings of $15,000 per year for ten years, after which it will have a $3,000 salvage value. If the required rate of return
“Find true statement(s):
If a firm totally avoids the use of debt to finance its assets, its return on assets will equal its return on equity.
Financially healthy firms in industries with”
“contribution margin is caculated by deducting:
a)variable costs from revenue
b)vbariable costs and controllable fixed costs from revenue
c)variable costs and common costs from revenue
d)fixed cost”
Which of the following describes the classification and normal balance of the
“5. (TCO 8) Which of the following is true regarding bonds?
Bonds do not carry default risk.
Bonds are sensitive to changes in the interest rates.
Moody’s and Standard and Poor’s provide info…”
Fielder Company obtained by issuing 2,000 shares of its $10 par value common stock. The land was recently appraised at $85,000. The Common Stock is actively traded at $40 per share. Prepare the journa
How the consistency principle and the full disclosure principle affect inventory valuation?
See attached excel for problem. Please show all calculations so I can understand how you get answer.
“Which of the following does not represent a cash flow relating to operating activities?
Cash dividends paid to stockholders.
Cash received from customers.
Interest paid to bondholders.”
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan
n September 1 of the current year, Mario Irrevocably transfers a $ 100,000 whole life insurance policy on his life to Mario, Jr. as owner. On September 1, the policy’s interpolated terminal reserve …
Dobson Inc. earns $450,000 and pays cash dividends of $150,000 during 2010.Cornwell Corporation owns 70,000 of the 210,000 outstanding shares of Dobson.What amount should Cornwell show in the investme
is patent amortization considered to be manufacturing overhead or direct labor?
(TCO D) Gary Wells Inc. plans to issue perpetual preferred sotck with an annual dividend of $6.50 per share. If the required return on theis preferred stock is 6.5%, at what price should the stock se
“””The following information is available for Remmers Corporation for 2010.
Depreciation reported on the tax return exceeded depreciation reported on the income statement by””
$120,000″
“The assertion most directly addressed when performing the search for unrecorded liabilities is
Completeness
Presentation
Existence
Rights”
“Which of the following is evidence of fiscal independence for the purpose of considering whether one entity is a component unit of another?
A The budget of the potential component unit is approved by”
“Boise Company manufactures and sells three products: Good, Better, and Best.Annual fixed costs are $3,315,000, and data about the three products follow.
Good Better Best
Sales mix in units 30% …”
Orange Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company’s asset in that country. If expropriation is reasonably possible, a loss contingency
ow can accounting information systems be utilized to protect the integrity of business transactions and the integrity of the business owners?
Bao Bao Company is planning to use ROI to evaluate its’ divisions which are setup as investment centers. They are trying to determine which expenses to include for measuring each investment centers…
Are reversing entries necessary to avoid double counting revenues/expenses?
“n this class we study U.S. Generally Accepted Accounting Principles (GAAP). Over the years, U.S. GAAP was developed separately from International Financial Reporting Standards.
In today’s competit”
“Accounting.
Property, Plant and Equipment.
On 3 Jan 20X7, Tim paid $224,000 for equipment used in manufacturing motor vehicle parts. In addition to the basic purchase price, the firm paid $700 i”
Chapter 13 1. Jane’s Donut Co. borrowed $200,000 on January 1, 2009, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2011. In connection with …
Sam Robinson borrowed $14,500 from a friend and promised to pay the loan in 12 equal annual installments beginning one year from the date of the loan. Sam’s friend would like to be reimbursed for the
“On its December 31, 2009, balance sheet, Quinn Co. reported its investment in trading securities, which had cost
$600,000, at fair value of $550,000. At December 31, 2010, the fair value of the secur”
What information in the balance sheet can be used to assess a company’s solnency?
I feel the only way to clarify the question is to talk to someone. Is that not possible? 978-257-1287. I apologize for this inconvenience but I really need your help!
Preparing a schedule of depreciation for forklift trucks in the receiving department of a general electric factory in scotland
cash flows and financial statements at sunset boards inc case how would you describe the cash flows for 2010
“Which of the following are deductions for AGI?
Mortgage interest on a personal residence.
Property taxes on a personal residence.
Mortgage interest on a building used in a business.
Fi”
Vase Company Revenue Statement December 31, 2010 Sales (net) $ 179,000 Plus: Income from operations of discontinued Division K (net of $960 income taxes) 2,240 Less: Dividends declares ($1.50 per comm…
“Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed.
July 1 Issued 13,492 shares of common stock for $13,492 cash.
July 1 Pu”
“””””The items below represent the ratios to be calculated for McDonald’s Corp.
The question is not incomplete. Need to calculate/ find out the ratios for the following items below for McDonald’s Cor”
A company’s bonds are selling for $1,045. These 15 year bonds pay 7% annually on a $1,000 par value. If the bond is purchased at market price, what is the expected rate of return?
“If the Investor Company owns 20% of the stock of Investee Company and Investee Company reports profits of $100,000, then Investor Company reports equity income of:
$80,000
$20,000″
Movies Galore distributes DVDs to movie retailers,including dot.coms.Movies Galore’s top management meets monthly to evaluate the company’s performance.Controller Allen Walsh prepared the following pe…
In 2011, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2013. Information related to the contract is as
White Companys assets total $780,000 and its owners equity consists of capital stock of $500,000 and retained earnings of 150,000. Does white Company have any outstanding liabilities and, if so, what
(Learning Objective 1: Determining the cost of plant assets) Ayer Self Storage purchased land, paying $175,000 cash as a down payment and signing a $190,000 note payable for the balance. Ayer also had
“I have 3 more questions…please let me know if there is a fee for these as they are part of my study guide. Thank you
Booth Financial Services, LLC has two revenue producing departments, Finan”
“Please help with the following question:
Below is selected information from Drexel Co.
2002 2003
Net Operating Assets/ 37″
“26-20
The independence of the internal audit department will most likely be assured if it reports to the
President
Controller
Treasurer
Audit Committee of the Board of Directors
5″
Grading Criteria Please see separate Assignment Grading Criteria Autumn 2010 sheet for this Assignment. Your Task PepsiCo, Inc. (PepsiCo) is the world leader in the snack food business, and it is a st…
What ae the required Basic Financial Statements under Statement No. 34?
The company you are working for has a problem. Its products are clearly superior to competitors but consumers seem unwilling to buy your products over the more well-known competition products. The m
“Secondary evidence may be used in all of the following instances except:
Answer
The original documents are too fragile to be handled.
The original document has been lost or destroyed without th”
“1. The cost of materials transferred into the Bottling Department of Mountain Springs Water Company is $28,400, with $22,000 from the Purifying Department, plus additional $6,400 from the materials st”
At December 31, 2010, Jeter Corp. had the following equity securities that were purchased during 2010, its first year of operation:
“6. Which of the following would be an indication that corporate debt is disguised equity? (Points : 5)
Debt is issued to the shareholders in the same proportion as stock
The debt ha”
Which of the following describes defined benefit pension plans? a. a. The investment risk is borne by the employee. b. b. The plans are simple and easy to construct. c. c. The investment risk is borne…
If a firm’s gross profit has declined substantially, this could be attributed to all but which of the following reasons? The cost of buying inventory has increased more rapidly than selling prices. …
“ABC Company
ABC Company reports the following information for the most recent period when 2,750 units were produced.
Cost Standard Actual
Materials 2 lbs. @ $5.00 per pound 7,000 pounds pur”
The predetermined overhead rate for manufacturing overhead for 2008 is $4.00 per direct labor hour. Employees are expected to earn $5.00 per hour and the company is planning on paying its employees $1
“Jordan Industries manufactures and leases to its customers five-ton construction dump trucks. The lease arrangements are usually as follows:
Payments on the lease are due for five years after its”
“From the following accounts, prepare a balance sheet for Chester Co. for the current
calendar year.
Accrued interest payable $ 1,400
Property, plant, and equipment 34,000
Inventory 12,400″
Alonzo Co. acquires 3 patents from Shaq Corp. for a total of $360,000. The patents were carried on Shaq’s books as follows: Patent AA: $5,000; Patent BB: $2,000; and Patent CC: $3,000. When Alonzo acq
“Get your custom answer from expert tutors on course hero to this homework question:
USE ANSWER SHEET ON LAST PAGE TO RECORD YOUR ANSWERS
(True or False)
1 All business owners are personally lia”
“””1. (Current Assets and Current Liabilities)
The current assets and liabilities sections of the balance sheet of Agincourt Company appear as follows.
AGINCOURT COMPANY
Balance Sheet (Partial)”
“””What is conceptual basis for applying lower of cost or market(LCM) to merchandise inventories?
words limit – there is no word limit, i just want my answer to precise, clear, consistent and comple”
On January 1, 2010, Corgan Company acquired 80 percent of the outstanding voting stock of Smashing, Inc., for a total of $980,000 in cash and other consideration. At the acquisition date, Smashing h
Separating Overhead cost from selling and administrative costs. Managers at West Mill company are examining list of costs in order to determine the total amount of manufacturing overhead. Need help v
Only 2 hours left. Please help with Midterm. There are 20 multiple choice with 1 set of match up and 1 essay, Please help. This will close when time runs out THANK YOU
“Martin Manufacturing Co…” calculate a) group depreciation amount and B) group depreciation rate (question attached)
how can we calculate carrying charges. Rental income: $2,600 per month Property tax: 5,200 for the year Property insurance: 190 per month Property management foos: 210 per month Utilities: 640 per mon…
I am working with the John Deere financial statements to determine some information about pension cost. Pension assets had a huge loss in 2008 and good returns in 2009, but this did not seem to impact
What specific principles must a company apply to the reporting of inventories in it interim financial reports
see the attach Selected year-end financial statements of Cadet Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2008, were inventory, $56,900; total assets…
Sucher Company uses a standard cost system in which manufacturing overhead costs are applied to units of product on the basis of standard machine-hours. The company’s standards are based on variable m…
International Parity Condition is defined as (1+i$/1+iA$) = (F($/A$)/S($/AS) or (i$-iA$/1+iA$)=((F($/A$)-S($/A$))/S($/A$)), where $ represents U.S. dollar and A$ represents Australian dollar. Prov
“The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:
Sales: $1,200,00
Gross profit: 320,000
Indirect labor: 110,000
Indir”
“48. Which of the following element is not necessary in order to calculate the amount of interest?
Principal
Inflation rate
Interest rate
Time
If an amount of $1,000 is to be rec”
“case 9-17
Linda Stanley and State University (Legacy Systems to an ERP) C£oC
Linda Stanley is the Vice President for Computing and Information Services at State
University (SU), a large, urban u…”
On January 1, 2009, Legion Company sold $200,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $177,000, priced to yield 12%. Legion re
“Which of the following activities is most likely to be classified as value-added for a manufacturing company?
storing
ordering
inspecting
assembling
Which of the following a”
(Ignore income taxes in this problem.) The Keego Company is planning a $200,000 equipment investment which has an estimated five-year life with no estimated salvage value. The company has projected th
(Learning Objective 4: Analyzing alternative plans for raising money) First Bank Financial Services is considering two plans for raising $800,000 to expand operations. Plan A is to borrow at 10%, and
Please justify why multiple-step income statements provide a clearer disclosure picture for firms. Please provide examples.
“Croissant Division of Pastry Corporation has invested capital of $1,600,000. During the past year, Croissant had sales of $1,200,000 and earned $400,000. What is Croissant’s return on investment?
…”
com is one of the many new firms that have a presence on the web. It specializes in manufacturing and selling high-end DVD players. Buy Purchasing large volumes form small number of supplier
What is a subsidiary ledger and what purpose does it serve?
“Consider the following scenario:
Andre has asked you to evaluate his business, Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 pe…”
Applegate Company has normal budgeted capacity of 200 machine hours. They produced 600 units. Each unit requires a standard .2 machine hour to complete. The standard fixed O/H rate is $12/hour, determ
“Under the liablity provisions of Section 11 of the Securities Act of 1933 , an auditor may help to establish the defense of due deligence if
The auditor peformed an additonal review of tje audite”
“Bozeman Corporation manufactures a single product. Monthly production costs
incurred in the manufacturing process are shown on page 231 for the production of 3,000 units. The utilities and maintenanc”
“1.)Which of the following accounts is not closed during the closing procedure?
Answer
Dividends
Commissions Earned
Retained Earnings
Income Summary
)The entry to close t”
Articulate how companies make project selection decisions. Determine the implication on earnings and cash flow, and articulate in a memorandumwhy the MIRR project was chosen over the multitude of …
Kailin owns a farm near Manhattan, Kansas, with a farmhouse, barn, and other structures permanently attached. Kailin grows soybeans on the property. A pond lies within the boundaries. Land include
“Venco Corporation’s December 31, 2010 balance sheet showed the following:
8% preferred stock, $20 par value, cumulative, 10,000 shares
authorized; 7,500 shares issued $150,000
Common stock, $10 p”
You want to start your own business. You found an investment group that is willing to give you the capital needed for the first year of your business, but only if you can convince them you have a soli
“Find true statement(s):
Payment of a 5% stock dividend will not appear in the statement of cash flows.
Depreciation expense decreases net income but is not a use of cash.
I only
“
“16-2.
.
Kade Gulliver turned 20 years old today. His grandfather established a trust fund that will pay Mr. Gulliver $60,000 on his next birthday. However, Mr. Gulliver needs money today to”
What does it mean, in terms of revenue recognition, to divide multiple deliverables into separate units of accounting? (in relation to Amazon.com’s business )
“Lilliputian inc. produces dog food. all direct material is entered at the beginning of the process.
Some shrinkage occurs during the production process, but management considers any shrinkage
of l”
The Abbott Corporation sells merchandise on the installment basis, and the uncertainties of cash collection make the use of the installment sales method of accounting acceptable. The following data re
“Estimate the revenue, receivables, inventory, of Ford stock”
“1. Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic …
“1) Does the Alternative Minimum Tax favor one group of taxpayers over another?
2) Are there any economic, social, revenue, or political implications?”
Quantacc Ltd. began operations on January 1, 2009 and uses IFRS to prepare its consolidated financial statements. Although not required to do so, to facilitate comparisons with companies in the US, Qu
“In general, which of the following statements is correct with respect to unemployment compensation?
an employee who is unable to work because of a disablity is entitled to unemployment compensatio”
Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin
Under the Negotiable Instruments Article of the UCC, which of the following requirements must be met for a person to be a holder in due course of a promissory note? 5. A.All prior holders must have be
what is the difference between positive and negative accounts receivable confirmations? when should one be used over the other?
“””Need to prepare the bank reconciliation for Multi-Plex Health care at May31 and Record the entries called for by the reconciliation.
The May 31 bank statement of Multi-Plex Health care has just arr”
“the entry to record the issuance of 1,000 shares of $10 par value common stock for $14 a share consists of a debit to cash for:
$14,000 and a credit to common stock for $14,000
$10,000 and”
What provisions of the Patriot Act have been enacted to make it easier to apprehend cybercriminals? Explain.
“Use the following information to solve the Questions 1, 2, and 3 below:
Sellograph Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of Sellograph’s sales”
“Joy corporation prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2008:
Book income before income taxes $750,000″
Midterm Multiple Questions Review 1 (TCO C) Which would not be a type of evidence? Testimony of a lay witness. B. Testimony of an expert witness. C. A particular document. D. A computer. E. A
Tommy, a senior at State College, receives free room and board as full compensation for working as a resident advisor at the university dormitory. The regular housing contract is $1,800 a year in tota
Exercise 12-13 Working with a Segmented Income Statement [LO1] Raner, Harris, & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offic
“Prepare a three page memo (at least 300 words per page) to John and Jane Smith addressing whether the issues presented above:
John Smith tax issues:
How is the $300,000 treated f”
“The annual report for Costco Wholesale Corporation, the large discount company, contains the following statement:
“”The Company periodically evaluates the realizability of long-lived assets for impa”
Building C was purchased January 1, 2008, for $950,000. the straight line method of depreciation was originally chosen. The building was expected to be useful for 25 years and to have zero residual v
A business currently sells mobile phones in the domestic market for $80. The cost of the phones includes $50 variable cost per unit and $20 fixed cost per unit. A bid is received from an overseas cust
I have attached the problems. E7-2 Preparing production budget and direct materials budget The sales department of P. Gillen Manufacturing Company has forecast sales in March to be 20,000 units. Addit…
“12) ABC and XYZ Companies have the following sales, variable cost, and fixed cost. If sales increase by $10,000 at each company, then:
ABC XYZ
Sales $50,000 $50,000
Variable Costs $10,000″
need help with the attached. Please explain why denied previously.
“””1. (TCO 3) Regional Bank offers you an APR of nine percent compounded quarterly, and local bank offer you an ear of 9.15% for a new auto loan you should choose;
regional bank apr
local bank e”
discuss the precautions we must take before buying expensive items such as cars, lands and houses and to manage our debts
need help on this accounting exercise 1. Exercise: Career Opportunities for Accountants • Post your response to the following items: o Describe two business sectors you might want to work in if you …
“Use the following information for questions 1a & 1b.
Milo Co. at the end of 2007, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follo”
If you were paid an annual bonus based on net income, what ethical dilemma would you face regarding the above items?
“”Grossman company received a land with a FMV of 90,000 and 10,000 in cash from Francona Company. In exchange, Grossman transferred land to Francona that had an FMV of 100,000 and an adjusted basis of
“27) An example of an expenditure classification by function would be:
Financial trends information
Current
Police Department
Salaries
Public safety”
Cost allocation methods that provide the most accurate full cost for financial reporting also provide the most accurate information for making decisions within the company. (Points: 2) True False 2…
In order to properly report segment margin as a guide to long-run segment profitability and performance, fixed costs must be separated into two broad categories. Once category is common fixed costs. W
“I was given the following problem in my Business Combinations class and given the answer. However, can you please show me how they worked out that answer
X-Beams Inc. owned 70% of the voting commo”
FDE Manufacturing Company has a normal plant capacity of 75,000 units per month. Because of an extra large quantity of inventory on hand, it expects to produce only 60,000 units in May. Monthly fixed
“Bank reconciliation
The bank collected $12200.00 for unique globe on a note. The face value of the note was $12,000.00
I get that this would be a bank addition of 12200.00 but I do not understand”
“10th Session Individual Assignments
Chapter 6, problems #10 (pg.249), # 16 (pg. 254)
Chapter 7, problems #6 (pg.292 – 293), # 10 (pg. 294)
Problem 6-10. Cost allocation and apparent profitab…”
Steve and Linda Hom live in Bartlesville, Oklahoma. Two yearsago, they visited Thailand. Linda, a professional chef, wasimpressed with the cooking methods and the spices used in the Thaifood. Bartlesv
“Advanced financial accounting case question in regards to consolidation and intercompany transfer. Attached is the questions. Thanks.” Willing to pay the $20 as per email. If you would like to improv…
“question, can you put on the income statement under the earnings per share, if you wanted to show operating activities? My question is would it be ethical to do that instead of having it in the state
“Alternative Investment Methods, Goodwill Impairment, and Consolidated Financial Statements
In this project you are to provide an analysis of alternative accounting methods for controlling interest in”
define the concepts of present value, payback method, internal rate of return, or net present value and elaborate on your interpretation of their value as assessment tools for an accountant
which of the following is true regarding international accounting standard no. 23 (IAS 23), “borrowing Costs,” and FASB Statement of Financial Accounting Standards No. 34 (SAFAS No. 34), “Capitalizati
On January 1, 2010, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield
“Three identical units of Item Magnesium XP are purchased during May, as shown below.
Item Magnesium XP Units Cost
May 3 Purchase 1 $130
May 10 Purchase 1 136
May 19 Purchase 1 142
Total 3 $”
“Information concerning the common stock of Morris Company as of the end of the company’s fiscal year is presented below.
Number of shares outstanding
460,000
Par value per share”
“2. A company, which sells two different models of an item, finds 65% of its customers buy the cheaper model, for $95. The remaining 35% of the customers pay $125 for the more expensive model. What i”
“Show clearly labeled calculations to support all answers requiring calculations in Part II, or you will not receive credit.
Part I. Multiple choice (3 points each)
Kevin, Chuck, and Gr”
Link Co. purchased machinery that cost $810,000 on January 4, 2009. The entire cost was recorded as an expense. The machinery has a nine-year life and a $54,000 residual value. The error was discovere
13-54 Overhead Accounting for Control and for Product Costing The pickle department of a major food manufacturer has an overhead rate of $5 per direct-labor hour, based on expected variable overhead o…
In the month of April, Carly’s Carwash provided 3,000 car washes at an average price of $25. Fixed costs are $9,300 and variable costs are 85% of sales. Compute the contribution margin and the co…
Noelle received dining room furniture as a gift from her friend, Jane. Hane’s adjusted basis was $9,200 and the fair market value on the date of the gift was $7,000. Noelle decided she did not need th
“Find true statement(s): (45.46)
The financial leverage of firms will tend to be lower when dividends are deductible in arriving at taxes due than if dividends were not deductible for tax purpose”
“An Accounting Tutor wants to answer your question or assignment
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13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separa…
“If cash is restricted as to its use and will be used within the next year, then it should be:
reported as a current asset separate from Cash and Cash Equivalents on the balance sheet.
incl”
Cost of common equity Percy Motors has a target capital structure of 40 percent debt and 60 percent common equity, with no preferred stock. The yield to maturity on the company’s outstanding bonds is …
“1. The Donner Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in March. If 20 percent of sales are for cash, 40 percent are credit sales paid in the month followi”
A company changes from percentage-of-completion to completed-contract, which is the method used for tax purposes. The entry to record this change should include a
“””Joan’s Golf Shop had the following transactions involving current liabilities in its first year of operations:
The company ordered golf equipment from suppliers for $ 546,000, on credit. It p…”
What happens if you make an accrual entry to record an expense and don’t reverse the entry? What happens when you make the payment for that expense?
INDIVIDUAL TAXATION FACTS: Your client made four significant purchases of property during the year 2010. The type, dates and amounts are as follows: TYPE OF PROPERTY DATE PLACED IN SERVICE AMOUNT Resi…
Fully explain how is accounting for a partnership different from accounting for a corporation?
“46. Acceptable depreciation methods under IFRS include
Straight-line.
Units-of-production.
All of the above.”
Rayburn’s Tents makes backpacking tents. It has the capacity to produce 10,000 tents per year and currently is producing and selling 7,000 tents. Normal selling price for a tent is $470. Unit-level co
“Depreciation on factory plant and equipment is an example of factory overhead cost.
True
False
Cost of oil used to lubricate factory machinery and equipment is an example of a direct mater”
Erica Garcia and Lance Trout are regularly employed by a company in Phoenix. During 2010, both accepted work for the company in another city located 250 miles from Phoenix. Erica realistically expecte
25Thermo assadhdefinituassetans, youaveexclusqfen thecon bei@haeconoesiomesoduce Vocporevetheirsenjoymagnehoeconoasownayodute
Nemad Company decided to adopt a standard cost system. The production manager wanted to set standards to use during the next year for the production of selector level assemblies. Each assembly contain
(Cases and Readings for use with Cost Management: A Strategic Emphasis) Case 20-4, Component Technologies, Inc: Adding FlexConnex Capacity, pages 20-8 through 20-11.
(operating budget preparations) the finance director of the bethandy independent school district is making preliminary estimates of the budget outlook for the general fund for 20×8 fiscal year. thes
Undersymington Company has an opportunity to invest in a machine that would cost $28,000, and that would produce cost savings of $8,000 each year for the next five years. The machine has zero salvage
I have spoken with a representative and he said $20.00 will do… Problems PROBLEM 7-1. Decision Making and Ethics [LO 1, Ethics] Joan Paxton, VP of marketing for Supertone Recording Equipment, has de…
On January 1, 2009, Mania Enterprises issued 12% bonds dated January 1, 2009, with a face amount of $20 million. The bonds mature in 2018 (10 years). For bonds of similar risk and maturity, the market
the method of computing inventory that uses records of the selling prices of the merchandise is called
“6. If a nation’s income exceeds its spending, then
Savings will be less than domestic investment.
The nation must run a current-account deficit.
The balance of payments will have deficit…”
“Consolidated working papers (downstream sales)
Pan Corporation acquired 100% of Sal Corporation’s oustanding votiong common stock on Jan 1, 2009, for $660,000 cash. Sal’s stockholders’ equity on th”
“As you review the flowchart, enter circled S- and W-symbols for strengths and weaknesses to cross-reference to your workpapers.
Prepare a bridge working paper (ICP-1) describing the strengths and”
E12-16 (Accounting for R&D Costs) Margaret Avery Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2009 the company expends $325,000 on a
“Record the transaction using a T-account:
Incurred a repair expense for repairs of $600. The company agreed to pay in 60 days. This transaction involves an increase in accounts payable and repair”
“EXERCISE 15
3 (DM variances) In November 2008, Day Time Publishing Company’s costs and quantities of paper consumed in manufacturing its 2009 Executive Planner and Calendar were as follow:
..”
For 20×2 the selling price per lamp will be $45.00. The company would like to have a net income equal to 31.00% of sales. If that is to be achieved, what would be the sales in units in 20×2?
A small gift shop has just launched a new Web site where customers can purchase products. The Web site’s e-commerce software systems automatically generate daily sales reports and forward the report…
“The following information is available for remmers corporation for 2010:
Depreciation reported on the tax return exceeded depreciation reported on the income statement by $120,000. This difference”
“4. Lily dies early in 2009. All her property passes subject to her will, which provides that her surviving husband, Rick, is to receive all the property outright. Her will further states that any prop”
“””1. Patent laws (Points: 1)
reduce incentive to innovate by restricting market entry
reduce incentive to innovate by making it difficult to use the patented innovation
increase incentive to innov”
What methods exist to compare alternatives on “equal” footing?
“Which of the following would be classified as an internal failure cost on a quality cost report?
Re-entering data because of keying errors.
Final product testing and inspection.”
“2. Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years.
compute 2010 depreciation expens”
An investment that costs $50,000 will return $15,000 operating cash flows per year for five years. Determine the net present value of the investment if the required rate of return is 14 percent. Shoul
“2. Job Inc. owns 20,000 shares of Nojob Company which it bought in 2005.
Nojob’s total stockholders’ equity is as follows:
Common stock, $20 par $500,000
Additional paid in capital 200″
Qunitana Pena expects to receive a $500,000 cash benefit when she retires five years from today. Pena’s employer has offered an early retirement incentive by agreeing to pay her $300,000 today if
“1) Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year:
Medical expenses: $5,000
Alimony: $14,000
Casualty loss (after $100 floor): $1,000″
“In comparing the direct method with the indirect method of preparing the statement of cash flows:
Only operating activities are presented differently.
Only investing activities are presented diff”
Hector Corporation is a manufacturing company with annual sales of $25 million. Its budget committee has created the following policy that the company uses each year in developing it master budget for
discuss the essential elements of partnership agreement and how may ratios are applicable for dividing profit and loss ?explain two of them
“They are both the same questions. I just sent you the document format in case it was easier for you to view.
Thanks!”
“E16-12 (Issuance, Exercise, and Termination of Stock Options) On January 1, 2009, Scooby Corpora- tion granted 10,000 options to key executives. Each option allows the executive to purchase one share”
“Derek’s Donuts is considering two mutually exclusive investments. The projects expected net cash flows are as follows:
Year Project A Project B
0 ($300) ($405)
1 ($387) $134
2 ($193) $134
3 ($1″
“Revenue is realized.
Any receivable is collected.
Collection is reasonably certain.
Collection is absolutely assured.
(TCO 5) Slick’s Used Cars sells pre-owned”
Regarding the uploaded leasing Prestige case study: how would you record the numbers? What are the journal entries, what is is the impact of depreciation and the end of year impact to the lease.
What is the justification for a corporation determining income for financial reporting purposes differently than the way it is determined for tax purposes
I need some help, I need a memo regarding the possible schemes or fraud that Apollo Shoes is having. This memo should be based on the Apollo Shoes casebook. For this assignment a need a memo, not more…
I have attached the assignment here for financial accounting.
This is a 3-Part Excel Assignment. I’m offering $10 for each part and if a 90/A or better is received I will include a $10 bonus. 1. Biven Corporation’s balance sheet and income statement appear below…
“what is the payback period? IRR
Year
1,100,000.00 * 0.870 = 957,000
1,450,000.00 * 1.626 = 2,350,000
1,300,000.00 * 2.283 = 2,967,900
950,000.00 * 2.855 = 2,71″
P4-4 (Multiple- and Single-step Income, Retained Earnings) The following account balances were included in the trial balance of J.R. Reid Corporation at …
“FINAL EXAM – PART II
Problem 1
Hawaii Designer jeans had the following inventory figures for its Model #11 during 2010 as shown below.
Total Cost
Beg Inv = 36 units* $ 15=$540
..”
“1-4 C ost- Volume-Profit Analysis and Pricing in
the Airline Industry* (Edward Deakin, Adapted)
Trans Western Airlines is considering a proposal to initiate air service between Phoenix, Arizona, an”
Calculate the issue price of a $1,500,000 bond issue and prepare the journal entries for the issuance and first years’ interest payments (use the effective interest method). Assume the bonds are paid
“Attempting to cash a check drawn on First Bank, Gina, who is not a First Bank customer, refuses to provide a thumbprint. First Bank refuses to cash the check. Gina files a suit against the bank.
Un”
Why is it important for business managers to understand the information found on financial reports?
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
if you had to decide whether or not to lend money to a company, would you use the market value of its assets or the book value? Why?
“5. Which of the following statements is true regarding a statutory merger?
The original companies dissolve while remaining as separate divisions of a newly created company.
Both companies rema”
On April 1, 2001 Penny issued $600,000, 9%bonds for $645.442 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2011. Prepare the journal enrty
“E2-23A (Learning Objective 5: Recording transactions without a journal) Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, D”
“Determine the amount of taxable dividend, nontaxable distribution, and capital gain for the distributions made in each of the following cases:
Corporate E & P of 410,000, shareholder stock basis o”
“Reporting comprehensive income in the United States can be accomplished by which of the following methods:
In the statement of shareholder’s equity.
A combined statement of income and compre”
“S2-3 Comprehensive Job Order Costing Case
Sampson Company uses a job order cost system with overhead applied to products based on direct labor hours. Based on previous history, the company estimated”
. Home Depot’s income before interest expense and income taxes was $5,909 million, and interest expense was $37 million. Calculate Home Depot’s times interest earned.
Hamby Company has a unit selling price of $400, variable costs per unit of $260, and fixed costs of $210,000. Compute the break-even point in units using (a) the mathematical equation and (b) contribu
“P16-1 (Donation-Related Entries) Mr. Larry Leininger donated $3,000,000 to a non-government VHWO on June 17, 20X8.
Assume that no restrictions are placed on the use of the donated resources.
P”
“True/False Questions (two points each)
S corporations offer advantages of passing profits, deductions, and credits through to
shareholders but protect their investors from personal liability.
“
“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 Ex”
Beeman Corporation estimates that a 3% increase in retained customers is estimated to cause the organization’s gross margin ratio to increase by 2.4%. Beeman’s current sales are $20,000,000 and the co
“Can fixed overhead costs be a cost pool?
Example:
Cost pool: Fixed overhead costs
Allocation Base/cost drivers: Direct Cost, Floor Space, Number of employees
Cost Objects: Hotel, Restauran”
Currency appreciation Suppose that 1 Danish krone could be purchased in the foreign exchange market for 14 U.S. cents today. If the krone appreciated 10 percent tomorrow against the dollar, how many
What is the difference between comparitive financial statements and common-size comparitive statements
“Classify the following items as deferred expense (prepaid expense), b deferred revenue (unearned revenue), accrued expense (accrued liability, or d accrued revenue 9accrued asset)
Fees received bu”
“the IRS has a penalty for underpayment of estimated taxes. This penalty exists because of which of the following concepts, contructs, or doctrines?
pay-as-you-go
tax benefit rule
substance”
“9. Statement of cash flows (direct and indirect methods).
Hartman, Inc. has prepared the following comparative balance sheets for 2010 and 2011:
2011 2010
Cash $ 297,000 $ 153,000
Receivables 15″
“Which of the following corporations are subject to the accounting requirements of the Foreign Corrupt Practices Act (FCPA)?
All corporations whose securities are registered pursuant to the Secu”
“””””QUESTION 1
Domestic Auto Parts (MAP), a $1 billion subsidiary of a U.S. auto parts manufacturing company, manufactured and marketed original and after-market parts for automobile producers in the U”
Tom and Jean are husband and whife and live in California. In 1991, they use $400,000 of community funds to purchase an annuity from an insurance company. Under the terms of the contract, Tom is to re
“29) The FASB has the authority to set accounting standards for all of the following organizations EXCEPT:
public colleges
for profit proprietary schools
educational foundatio”
At December 31, 2006, Agler Company had 1,200,000 shares of common stock outstanding. On September 1, 2007, an additional 400,000 shares of common stock were issued. In addition, Agler had $12,000,000
The cash account for Santiago Co. on May 31, 2009 indicated a balance of $15,515.00. The March bank statement indicated an ending balance of $20,245.00. Comparing the bank statement, the canceled chec
If a software costs $ 110,000 with a projected cash flow of $ 15,000 per year during the useful life of the software, what is the payback period? As the CEO, would you make this purchase? Please discu
I need assistance in preparing the below question. Could you show me the steps that you use to get the answer? Need some extra guidance. Thanks so much! I need this answer no later than noon tomorrow
Jackie’s is a large, locally-owned general retail business operating out of a single location. A condensed version of their most recent annual segmented income statement is given below (all amounts…
7-8 Why do most companies use normal or standard costing? After all, actual costing gives actual cost, so the firm could just wait until it knows what the cost will be.
“A competitive environment means that organizations will be
producing increasingly high-volume, low-variety products and services.
focused internally on efficiency.
viewing their actions i”
“J. Larson & Company purchased the right to extract ore from a mineral deposit by paying $50,000 in cash and
signing a $200,000 promissory note. Larson spent an additional $25,000 cash for a geologic”
Determine the proper balances as of 12/31/2010 for a separate land account and a separate building account. Use separate T-accounts (one for land and one for building)
13-54 Overhead Accounting for Control and for Product Costing The pickle department of a major food manufacturer has an overhead rate of $5 per direct-labor hour, based on expected variable overhead o…
The partnership of Booth & Haynes, CPAs, has been engaged to examine the financial statements of Paul, Inc., in connection with the registration of Paul’s securities with the Securities and Exchange C…
“In a suit against Sandy, Tyler obtains a remedy. In the U.S. legal system, this remedy will most likely be
Answer
an injunction.
specific per”
“Schmitt Company must make computations and adjusting entries for the following independent situations at December 31, 2011.
Its line of amplifiers carries a 3 year warranty against defects. On”
An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts of Conard Corp. uncovered the following items. Assume all items involve cash unless ther
“16-5
Lake Shuttle Inc. is considering investing in two new vans that are expected to generate combined cash inflows of $20,000 per year. The vans combined purchase price is $65,000. The expected li”
I need help with problem 8-19. Got a 50% on assignment.
Jasmine Lee owns a catering company that serves food and beverages at exclusive parties and business functions. Lee’s business is seasonal, with a heavy schedule during the summer months and holiday
would require help on each part. on all questions submitted. I will send a scan of the Intel report separately in the morning.
Expected direct materials purchases in Read Company are $70,000 in the first quarter and $90,000 in the second quarter. Forty percent of the purchases are paid in cash as incurred, and the balance is
“Prepare a three-page memo (at least 300 words per page) to John and Jane Smith addressing the issues presented:
John Smith tax issues:
How is the $300,000 treated for purposes of feder”
“the entry to record the adjustment for accrued bond interest includes a debit to___and a credit to____
a)bond interest expense; cash
b)bond interest expense; bond interest payable
c)bond interest”
Target Corporation operates as two reportable segments: Retail and Credit Card. The Retail Segment includes merchandising operations, including large-format general merchandise and food discount store…
Hillsborough Country Outfitters, Inc., entered into an agreement for HCO Media LLC to exclusively conduct Hillsborough’s e-commerce initiatives through a jointly owned (50 percent each) Internet sit…
This is the last funds I have to be put on hold. Please only accept this if you can do it because I keep having to re-submit and pay each time which puts those funds on hold in my account. Thank You
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
“You asked:
“”Micron Technology is one of the leading producers of semiconductor components. The company’s actual data(in million of dollars) follow for it’s fiscal year ended september 1, 2005
======”
Horak Company accumulates the following data concerning a proposed capital investment: cash cost $219,620, net annual cash flow $34,932, present value factor of cash inflows for 10 years 6.71 (rounded
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
Dustin is a very cautious lender. When approached by Lanier regarding a $2000 loan, he not only demanded an acceptable surely but also collateral equal to 50% of the loan. Lanier obtained King Suret
“Dear Sir,
Requesting your guidance and
support on the attached questions.
Thanking you in advance for you co-operation.”
ndlovu breweries limited is considering an acquisition of Blue Mountain Limited.Blue Mountain has a cost of equity of 10%;25% of its financing is in the form of 6% debt, the rest is shareholders’ equi
What might happen if revenue accounts, expense accounts, and/or dividends are not closed? Explain why?
“Explain why the lower of cost or market rule is used to value inventory.
Answer
200 words please”
Reveiw the annual reports for Pepsi co, Inc. and The Coca-Cola Company in appendixes A&B, especially the consolidated statements of income and the Balance sheets on pp. a4, a6, B1, & B2 of financial a
“6. Measuring and recording pension expense.
Kessler, Inc. received the following information from its pension plan trustee concerning the operation of the company’s defined-benefit pension plan for t”
“For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers.
$200 for repairing damage that resulted f”
Companies currently reports a profit of $3.6 million. Divisional invested capital totals $9.5 million; the imputed interest rate is 12%. On the basis of this information, Companies residual income is:
How does the current system capture manufacturing costs and assign them to products? (Prove the overhead rate is 105% of material cost). 2. Calculate the volume-based (traditional) cost per reel fo…
Le Monde Company is a manufacturer of chemicals for various purposes. One of the processes used by Le Monde produces HTP-3, a chemical used in hot tubs and swimming pools; PST-4, a chemical used in pe
Suppose £1 = $2.50 in New York, $1 = ¥125.00 in Tokyo, and £1 = ¥250.00 in London. If you begin by holding ¥100, how could you profit from these exchange rates? Ignoring transaction costs, what i…
In the implication of management accounting and control system,discuss which one economic valued added or balanced scorecard is better implemented?
“Your company’s sales are 50,000 units. The unit variable cost is $12. Your markup percent on sales is 40% and your fixed costs are $100,000.
What is your profit / loss?
You are thinking of …”
Funtime Inc. makes small toys in a one department production process. Plastic is added at the beginning of the process, all other materials are considered indirect. The following information is availa
“Lessee accounting—capital lease.
Horton Company, as lessee, enters into a lease agreement on July 1, 2008, for equipment. The following data are relevant to the lease agreement:
The term of the…”
“Multiple Choice, Question 96
Holcomb Corporations owns machinery with a book value of $190,000. It is estimated that the machinery will generate future cash flows of $200,000. The machinery has a f”
“Bonds payable, 7% (issued in 2000, due in 2020) $1,600,000
Preferred $10 stock, $50 par 143,000
Common stock, $14 par 520,520
Income before income tax was $470,400, and income taxes were $70,000,”
“Per IBSN#0-07-240429-9 – Enterprise Information Systems, pg. 309 Question A1
Create a business process level REA model (in either grammar or diagram format) for Quandrax Computer’ acquisition/payme”
Managers often consult financial statements for specific types of information. indicate whether each of the following items would appear on the income statement, statement of owner’s equity, or the ba
“The following CVP income statements are available for Old Company and New Company.
Old Company New Company
Sales revenue $399,800 $399,800
Variable costs
180,000
79,970″
Choose three publicly held companies on the Internet. Include at least two manufacturing companies (there must be a product). None can be a financial institution such as a bank or an insurance compa
“Journalize the following selected transactions completed during the current fiscal year:
3 The board of directors reduced the par of common shares from $100 to $20. This action increased th”
Benjamin O’Henry has owned and operated O’Henry’s Data Services since its beginning ten years ago. From all appearances, the business has prospered. In the past few years, you have become friends with
Why are there so many publicly held companies going private? Isn’t true that money is money?
What is the number of withholding allowances for James C. Ferguson?
Please find the attached homework EXERCISE 3-4. Physical Flow of Units [LO 1] In each case below, fill in the missing amount. Case #1 Work in Process,October 1 5,000 gallons Units started during Octob…
Briggs corporation uses the perpetual inventory method. On march 1, it purchased $10,000 of inventory, terms 2/10, n/30. On March 3, Briggs returned goods that cost $1,000. On march 9, Briggs paid the
Camus Blalack, process engineer, knew that the acceptance of a new process design would depend on its economic feasibility. The new process design required new equipment and an infusion of working cap…
“Employee Stock Ownership Plans (ESOPs):
will not dilute the proportional ownership of existing shareholders.
may be created for a temporary purpose.
do not produce any ta”
discuss the practical problems of budgeting and budetary control within an organisation. How might these be overcome?
“A whistle-blower in her allegations made in a qui tam suit, alleged that her former employer fired her because she told the company that it was “padding the bills” to the federal government for the c
“Sec. 351 Requirements
Introduction:
Al, Bob, and Carl form West Corporation and transfer the following items to West:
Items transferred
Transferor Item Transferor’s Basis Fair Market Value (FM”
“1. Suppose Dow Chemical receives quotes of $0.008242-45 for the yen and $0.03023-27 for the Taiwan dollar (NT$) from Bank of America (BOA). That is, S($/¥) = $0.008242-0.008245 and S($/NT$) = $0.0302…”
“In computing the debt ratio, which of the following is subtracted in the denominator?
Trademarks
Patents
Marketable Securites
None of the above.”
“This question is taken form advanced accounting bline, fischer and skekel 2004, chap #3.
Richardson acquired 100 percent of Smith Corporation at Jan 1,2005. At that date the patent controlled by ea”
“A quasi-reorganization:
may produce a positive balance in retained earnings
will restate retained earnings to zero.
should appear on the income statement as part of continuing ope”
Karter Company purchases 200 of the 1,000 outstanding shares of Flynn Company’s common stock for $180,000 on January 2, 2007. During 2007, Flynn Company declared dividends of $30,000 and reported e…
Rob Carpenter is a senior manager at a prestigious accounting firm, and was recently transferred to the international division of acquisitions and mergers. His first assignment is to make a recommenda
Hi can u help me with this one schedule, The firm Tees @ Tugun (Tees) is a manufacturer of items of surf gear. What began as a small family business producing T-shirts only has now grown into a firm w…
“Answer the following questions using the information below:
Lehman Pottery Company manufactures clay molded pottery on an assembly line. Its standard costing system uses two cost categories, direct”
“The Koski Company has established standards as follows:
Direct material: 3 lbs. @ $4/lb. = $12 per unit
Direct labor: 2 hrs. @ $8/hr. = $16 per unit
Actual production figures for the past year we”
In 2005, Emil Gow won 5000 in a state lottery and spent 400 for the purchase of lottery tickets. Emil elected the standard deduction on his 2005 income tax return. The amount of lottery winnings tha
“Irving Corp. obtained the following information from its accounting records:
Sales = $18,000
Beginning Finished Goods Inventory = $10,500
Ending Finished Goods Inventory = $8,500
Cost of G”
I have attached the problems that I have to do. Activity based Costing: Home Entertainment, Inc. manufactures two types of DVD players: standard and deluxe. It attempts to set selling prices based on …
“which of the following correctly identifies a risk facing SSC that might affect its ability to continue as a going concern over the long run?
Competition from several competitors
Your CPA fi”
“Questions:
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.
Solution:
Type your answer here
Q2: Discuss the essential activities involved in the”
This year, Rose Company acquired all of the common stock of Hayley. At the end of the current year, balances of selected accounts and other information for each of the companies were as follows:
“2001 2002
Costs incurred to date $900,000 $1,400,000
Estimated costs to complete $600,000 0
Billings to date $700,000 $2,100,000″
“Instructions:
First and foremost when completing the assignment for Unit 4 IP1, DO NOT CONVERT THE EUROS TO US DOLLARS! Replace the word “”Euros”” in the problem with US $.
Remember, there ar”
William is the manager of the Accounting Department of a company and his annual bonus is based on a percentage of net income. At year-end, William is recommending to the Controller to reduce the estim
The supervisor of the Logistic’s Department has suggested to the plant manager that a new machine costing $285,000 be purchased to improve material handling operations for the plant’s newest product l
“Optics Manufacturing
In the late 90’s Kodak was bidding for a contract with a major research facility on the West Coast to build large-scale optics for the National Ignition Facility. These optics…”
In Nevitt Company, data concerning two products are: Contribution margin per unit-Product A $8.97, Product B $15.34; machine hours required for one unit-Product A 3.85, Product B 3.06. Compute the con
On January 1, 2010, Gerlach had the following account balances in its shareholders’ equity accounts. Preferred stock is non-cumulative, and carries 6% dividend rate. During 2010, Gerlach Inc. had s…
under a plan of complete liquidation, jayhawk corporation distributed land, having an adjusted base of $26,000 to its sole shareholder. the land was subject to a liability of $38,000 which the shareho
this website is horrible i waited three days for you to say that you could not help me. thanks a lot and i better be refunded asap i am extremely upset with this service i will never use it again and
“13-48 Overhead Variances
Study Appendix 13. Consider the following data for the Rivera Company:
Factory Overhead
Fixed Variable
Actual incurred $14,200 $13,300
Budget fr standard hours allowed
f”
“1. Which of the following items does not require an estimate in order to make a change in accounting estimate:
Change in de4preciation methods.
Liabilities for warranty costs
Inventory obs”
“Which of the following best describes the reason that the auditors record their inventory
test counts in the working papers?
To document every test count
For subsequent comparison with th”
The Pear Corporation owns equipment with a $300,000 adjusted basis. The equipment was purchased six years ago for $650,000. If Pear sells the equipment for the selling prices given in the three indepe
(Points: 1) Use the following to answer questions 49-52: The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the just completed year…
The use of LIFO rather than FIFO for inventory costing under normal economic conditions results in: I. lower net income. II. higher total assets. III. gher retained earnings. I V. unchanged retaine…
“the current year quartz corporation( a calendar year C corporation) has the following transaction
income from operations 450,000
expenses from operations 500,000
dividend received from ABC Corporat”
“The Everett Co. Had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employees o”
“1. Using the information in the Hanson Ski Products balance sheet for March 31, 1985 (Exhibit 2), and the fiscal year 1987 budgets (Exhibits 3 and 4), prepare a projected balance sheet for Hanson Ski”
“The audit procedure of analyzing the repairs and maintenance accounts is primarily designed to provide evidence in support of the audit proposition that all
Expenditures for fixed assets have bee”
Which one of the following statements regarding partnership taxations is always correct?
estimating the manufacturing costs if Robert’s produces 100,000 widgits in January (2 points). Expected manufacturing costs for Robert’s widgits are variable costs: direct materials $4.00 per unit; di
“E11-26 2010, for $36,000. The computer equipment has a useful life of 10 years and a salvage value of $3,000. For tax purposes, the MACRS class life is 5 years.
(Book vs. Tax (MACRS) Depreciation) El”
“Effects of Long Term Leases
Ch 10 C.1
Many companies use long -term leases to finance long-term assets. Although these leases are similar to mortgage payments, they are structured in such a way …”
“When a firm purchases supplies for use in its business, and the cost of the supplies
purchased is recorded as an asset, the following adjusting entry to recognize the
cost of supplies used will p”
“26-23 B. Which is generally considered to be the primary purpose of an internal auditor’s evaluation of the adequacy of internal controls.
to determine whether the established internal controls are”
The first mortgage is due. Taxes of $300 per month and insurance of $100 per month are escrowed and included in the payment. Total payment is $2,509.64 per month and following is a partial amortizatio
“Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 5% bon”
“The question above is a duplicate. the question below is the one requested
My name is Michael. Course Hero is asking me to answer your question or assignment, because it falls within my area”
Discuss the conflict between the need for personal privacy and confidentiality in banking transactions and the need for the government to curtail money laundering activities.
The information needed to determine whether a company is using accounting methods similar to those of its competitors, would be found in which of the following
Prophet Company signed a long term purchase contract to buy timber from the U.S. Forest Service 300 per thousand board feet. Under these terms, Prophet must cut and pay 6,000,000 for this timber duri
“15-2
Compute variance for the following items and indicate whether each variance is favorable or unfavorable.
Item Budget Actual Variance F or U
Sales revenue $”
“Question 1
The relevant range of operations excludes extremely high and low levels of production that are not likely to occur.
True
False
Question 2
…”
You are considering opening a kiosk in themall that will sell customizable aprons. You need to borrow money fromt eh bank to get the business started and estimate that you will need approximately $20,…
“With regard to current GASB standards for pension reporting do the following
Distinguish between expenditure/expense reporting for (1) agent multiemployer plans and (2) cost-sharing multi employer”
“The following question has to do with federal taxation:
Jasmine Corporation has ordinary income from operations of $60,000, net long-term capital gain of $20,000, and net short-term capital loss of”
Glass Creations Company is developing departmental overhead rates based on direct-labor hours for its two production departments, Etching and Finishing. The Etching Department employs 20 people and th
Which of the following has the least effect on sample size
“Dicksen Company’s income statement for the year ended December 31, 2005, reported net income of $360,000. The financial statements also disclosed the following information:
Amortization ………..”
See attached excel for problem. Please show all calculations so I can understand how you get answer.
“Table 5-1 Top cap, Inc. Unadjusted Trial Balance Year 5
Sales $600,000
Ending Accounts Receivable 180,000
Ending Allowance for Uncollectibles 6,200CR
Bad Debt Expense 5,000
Estimated Uncolle”
“Problem:
Exercise 18-4A Job-order costing in a manufacturing company
Seahawk Inc. builds sailboats. On January 1, 2004, the company had the following account balances: $40,000 for both cash and com”
The cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000.If the ending inventory of finished goods was $30,000, what was the beginning inventory of fi
“Number 13 on page 264
**Comparing Mutually Exclusive Projects – Murray Industrial Systems Company is trying to
decide between two different conveyor belt systems. System A costs $485,000, has a f”
“The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2009.
Black Co. Blue Co.
Sales $360,000 $228,000
Expenses (240,000) (240,000)
Net i”
“have three free questions for today
multiple choice question
Which of the following is never considered in incremental analysis?
Incremental revenues
Sunk costs
-Incremental profit”
“Exercise 9-3
Crede and Rensing, CPAs, are preparing their service revenue (sales) budget for the coming year (2011). The practice is divided into three departments: auditing, tax, and consulting. Bi”
“2. The following properties have been owned by a business for more than one year. Which of them would not qualify for Section 1231 treatment on its disposal?
Property held for rental inco”
On June 30, 2002, Mendenhal Company issued 12% bonds with a par value of $817,200 due in 20 years. They were issued at 98 and were callable at 104 at any date after June 30, 2010. Because of lower int…
What method would you use to summarize transactions and transfer to the ledger?
“MASTER TEST CHAPTERS 2 AND 3 NAME:
TRUE/FALSE Questions are worth two points each
An individual who owns a proprietorship must report profit from the proprietorship”
“Adrianna Lopez of success system is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules.Lopez has three different types of software in her inven
restaurant is deciding whether it wants to update its image or not. It currently has a cozy appeal with an outdated décor that is still in good condition, menus and carpet that need to be replaced an…
“At a sales volume of 32,000 units, CD Company’s total fixed costs are $64,000 and total variable costs are $60,000. The relevant range is 30,000 to 55,000 units.
If CD Company were to sell 43,0″
What are the advantages a firm gains by using auditing and assurance services? How might you use these advantages to promote the auditing and assurance division of a company from within?
Mayer Company leased equipment from Lennon Company on July 1, 2010, for an eight-year period expiring June 30, 2018. Equal annual payments under the lease are $300,000 and are due on July 1 of each ye
Lori Figgs is confused about the lack of agreement between the cash balance per books and the balance per the bank. Explain the causes for the lack of agreement to Lori, and give an example of each c
On June 1, 2009, Everly Bottle Company sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of 9 % and a yield rate of 10.5%. The bonds pay
Which statement below is not a determinate in calculating the amount of federal income taxes withheld from an individuals pay? 27. Which of the following would be used to compute the federal inco
Determine profitability by product, by customer, and by segment for McDonald Corporation.
Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic U
“P. 7-8 Winterton Group
7-23 Reed Park Inc
8-6 Joint Products, Inc.
8-12 WWWeb Marketing
8-19 Ferguson Metal
Accounting for Decision Making and Control”””
“Chapter 3 – Understanding the Accounting Information System
E3-17 AND P3-2A”
case 6-47 out of managerial accounting mcgraw-hill eighth edition
A governmental entity receives a gift of cash and investments with a fair value of $200,000. The donor specified that the earnings from the gift must be used to beautify city-owned parks and the
“Diehl Company uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity-based costing system:
Costs:
M”
“1. The City of Charlotte levied property taxes in 2012 in the amount of $10 million. It is estimated that 2% will be uncollectible. During 2012, $9,000,000 was collected, and it is anticipated that $4”
“The CEO has given you 3 different large projects he’s evaluating to see which might be most beneficial to the company to invest in. These include:
A new labor-saving piece of equipment that cost $4″
“PROBLEM 8-20A
Direct Materials and Direct Labor Variances; Computations from Incomplete Data
(LO2, LO3)
CHECK FIGURE
(1a) Actual cost: $7.90 per foot
(2a) Standard labor rate: $7.50 per hour”
“Evaluate the “”turf war”” between the Government Accounting Standards Board and the Government Finance Officers Association. Predict the likely outcome and defend your prediction.
One or two para…”
“Use the following to answer questions 26-29:
Data for the Rock Company are as follows:
Budgeted Amounts:
Machine Hours – 25 hours per unit
Variable Overhead Rate – $.25 (25 cents) per machine”
“The following is a pre-closing trial balance for sun city’s General fund as of June 30, 2009:
Debit Credit
Cash 116,500
Ta”
“What is meant by the time value of money, and what are two concepts that may be relevant to the capital budgeting process?
This is just a discussion board question there is no word limit require”
Dim Witt is the county commissioner of Clueless County. He decided to institute tolls for local ferry boat passengers. After the tolls had been in effect for four months, Astra Astute, county accounta
What are three projects currently on the active agenda that are being addressed by the IASB?
Barr Company purchased bonds with a face amount of $400,000 between interest payment dates. Barr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months
Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2009, of a five-period annual annuity of $5,000 under each of the followi…
On September 1, 2012, Lowe Co. issued a note payable to National Bank in the amount of $900,000, bearing interest at 12%, and payable in three equal annual principal payments of $300,000. On this date
Henry Co. assigned $400,000 of accounts receivable to Easy Finance Co. as security for a loan of $335,000. Easy charged a 2% commission on the amount of the loan; the interest rate on the note was 10
operating losses incurred during the start-up years of a new business should be
Select three ratios, one from each category—liquidity, profitability, and solvency—you think are the most important. Why do you consider these ratios important? Which internal and external users m…
“compose 1-2 pape letter to a former teacher in which you do the following.
Demonstrate the characteristics of academic communication in your letter.
Explain the relationship among and bx”
Computers Express, Inc. sold 100 shares of ABC stock with an adjusted basis of $4000 for $7000. It also sold 200 shares of XYZ stock with an adjusted basis of $10000 for $4000. Four years earlier it h
“2. Prepare the necessary journal entries on the books of Jayhawk Carpet Company to record the following transactions, assuming a perpetual inventory system (you may omit explanations):
Jayhawk pu”
Here is the assignment. Facts 1-8 have to be entered on the attached spreadsheet as debits and credits set up as the requirements indicate below. Thank you. “Unbilled sales as of the balance sheet dat…
Select a global challenge facing international financial reporting and explain how preparers and users of financial statements and capital market regulators have a stake in the outcome.
4) The New Company has two products (Product A and Product B) with the following profile as far as contribution margin:
Problem 3 The Johnson Corporation is authorized to issue 3,000 shares of 8 percent, $50 par-value preferred stock and 10,000 shares of no-par-value common stock with a stated value of $20 per share. O…
Using the Player controls below, play Handel’s See Here the Conqu’ring Hero Comes. Then, follow these directions to create your own examples: \1.Watch the counter and pause when you hear the beginning…
“10. Viszla, Inc. (a calendar year corporation) is wholly owned by Duke Sandor. Viszla, Inc. is a
personal holding company. Viszla had the following income and expenses during the year:
Interest inco”
I am an accounting student at kaplan(ac114). I need the answers to the textbook excercises for unit 8 (chapter 7) PR 7-1A (page 344)and PR 7-2A (page 345). I also need the answers to the textbook exce
“Which of the following is not a step in the deductive fraud detection approach?
Answer
Determining the most likely symptoms
Gathering data about symptoms
Understanding the business or operat”
Sandra won $5,000,000 in the state lottery which she has elected to receive at the end of each month over the next thirty years. She will receive 7% interest on unpaid amounts. To determine the amount
Adjusting entries are required at the end of the period to ensure that accounting principles are applied. At the beginning of the month$350 of the supplies were purchased. There was not a beginning ba
“a person who voluntarily filed bankruptcy and received a discharge in bankruptcy under the provisions of Chapter 7 of the Federal Bankruptcy Code
may obtain another voluntary discharge in bankrup”
“Please find the attached text, I need answers for Exercise 2-8 and 2-10, Problem 2-1 & 2-5.
Thanks”
Thanks again for your help! I wish I had known about you before. Below is another account question that is asking me to prepare an income statement, statement of owner’s equity and a balance sheet. I’
Neeley Company incurs the following expenditures in purchasing a truck: cash price $30,000, accident insurance $2,000, sales taxes $1,500, motor vehicle license $100, and painting and lettering $400.
A business issued a 60-day, 7% note for $15,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording (a) the issuance of the note and (b) the payment
The question in this exercise are based on JetBlue Airways Corporation. To answer the questions, you will need to download JetBlue’s form 10K/A for the year ended December 31, 2004 at http://www.sec.g
“Problem 27-1A Allocation of building occupancy costs to departments LO3
National Bank has several departments that occupy both floors of a two-story building. The departmental accounting system has”
On January 1, 2007, a company issued 10%, 10-year bonds payable with a par value of $720,000.The bonds pay interest each July 1 and January 1.The bonds were sold for $817,860 cash, which provi…
On October 1, the Mace Bicycle Store had an inventory of 20 ten speed bicycles at a cost of $175 each. During the month of October the following transactions occurred. Assume Mace uses a perpetual in
“Selected year-end data for the Brayer Company are presented below:
Current liabilities
$600,000
Acid-test ratio
5 to 1
Current ratio
0 to 1
Cost of”
On January 1, 2008, Dexter, Inc. signs a 10-year noncancelable lease agreement to lease a storage building from Garr Warehouse Company. Collectibility of lease payments is reasonably predictable and n…
cookies and more has 8,000 shares of stock outstanding at a market price of $13.60 per share.what will the price per share be after the firm declares a 10 percent stock dividend? ignore taxes and mark
Big Al’s Pizza, Inc ten part project as taken from Managerial Accounting A focus on ethical decision making(Jackson, Sawyers, Jenkins 5e).
Beth and Ben are equal partners in the BB partership, formed on June 1 of the current year.Ben contributed land that he inherited form his father 3 years ago.Ben’s father purchased the land in…
“The Miller Company paid off some of its accounts payable using cash. The company’s current ratio is greater than 1. The company’s current ratio would:
remain unchanged.
imp”
Under title V11 of the Civil rights Act of 1964, a covered entity is prohibited from engaging in employment discrimination on the basis of race, color, religion, nation, or sex. The practices subject
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company h…
Tan Corporation (E&P of $700,000) has 1,000 shares of stock outstanding owned by two unrelated individuals, Jacob (600 shares) and Julie (400 shares). Both shareholders paid $75 per share for the s
Tingey sells goods on consignment to dealers. Selling price of goods averages 25% of COGS. Dealer’s paid 10% commission on sales price of goods for all sales. In 2013, Tingey shipped $250,000 (manufac
B Company switched from the sum-of-the-years-digits depreciation method to straight-line depreciation in 2009. The change affects machinery purchased at the beginning of 2007 at a cost of $72,000. The
Security (A) has an expected return of 7%, a standard deviation of returns of 35%, a correlation coefficient with the market of -0.3, and a beta coefficient of -1.5. Security B has an expected return
“1. The net method of accounting for cash discounts requires adjusting entries for discounts taken.
True
False
Brewer Inc. is owed $200,000 by Carol Co. under a 10% note with two years re”
“AMR Corporation (parent company of American Airlines) reported the following for 2004 (in millions).
Service cost $358
Interest on P.B.O. 567
Return on plan assets 569
Amortization of unrecognized”
John and Mary Jane sanders are married, filling jointly. their address is 204 shoe lane, blacksburg VA 24601. they are expecting their first child in early 2011. john’s salary in 2010 was $90000, from
“1. The date on which to measure the compensation element in a stock option granted to a corporate employee ordinarily is the date on which the employee
Is granted the option.
Has performed all”
I need help with Penn Foster test #050667, please find the questions attached. Let me know if you need anything else.
“You asked:
“”The following is a pre-closing trial balance for sun city’s general fund as of June 30,2009:
Debit Credit
Cash 116,500
Taxes Receivable-current 29,000
Estimated uncollectible curre”
“Case Study 2 -Internal Control
LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. T”
What are the weaknesses of a dividend growth evaluation model?
i do not see the actual sheets to view the numbers for http://www.coursehero.com/file/6016450/AMERBRAN-COMPANY-cash-flows0/
Im having my final tomorrow from my accounting class. do you have the study manual for the final text? the book is CORPORATE FINANCIAL ACCOUNTING 9TH EDITION
Apple Co. had 12,000 shares of common stock issued and outstanding at 1/1/+1. During 20+1, Apple did the following: February 10- Declared a 4-for-1 stick split, when the fair value of the stock was $4…
on June 5, Belen Corporation reaquired 3,300 shares of it common stock at $45 per share. On July 15, Belen sold 2000 shares of the reaquired shares at $48 per share. on august 30, Belen sold the remai
“A firm has net sales of $6,000, cash expenses (including taxes) of $2,800, and depreciation of $1,000. If accounts receivable increased in the period by $800, cash flows from operations equal
$2″
“Pepito Company purchased 40% of the outstanding stock of Reyes Company on January 1, 2010. Reyes reported net income of $75,000 and declared dividends
of $20,000 during 2010. How much will Pepito adj”
Many companies use long -term leases to finance long-term assets. Although these leases are similar to mortgage payments, they are structured in such a way that they qualify as operating leases. As …
Please complete attached spreadsheet questions A-E. Thanks! ACCOUNTING 321 ONLINE PROJECT CHAPTER 3 Cedar Hills Company produces reproductions of antique furniture at a plant located in rural North Da…
Alfred issued 9%, 10-year bonds dated January 1, 2010, with a face value of $100,000 at 102 plus accrued interest on March 1, 2010. Alfred amortizes premiums and discounts using the straight-line
“3. T/F The financing activities section looks at the changes in the Current Asset section of the Balance Sheet. If false please explain.”
“Witch of the following costs are variable?
Cost $10,000 30,000
1
2
3
4
100,000 $300K”
“1). Joint Costs and Additional Processing
Good Earth Products produces orange juice and candied orange peels. A 1,000-pound batch of oranges, costing $400, is transformed using labor of $40 into 10″
Come on man I am a student and I really don’t have that much money. This should not take that long for you.
Paul Company had 100,000 shares of common stock outstanding on January 1, 2009. On September 30, 2009, Paul sold 48,000 shares of common stock for cash. Paul also had 10,000 shares of convertible pref
Hotel occupancy is 100 rooms, the housekeeper can clean 20 rooms per day, the expense per housekeeper per month is $2000. The occupancy in the spring (Jan to May) is 80%, Summer (June to August) is 5
What happens to total manufacturing costs per unit when a company’s activity level decreases? a. Total costs per unit should remain the same if the company is still in the relevant range. b. Tota…
I have to prepare an income statement which in conclusion, looks like using the multiple step format is what is needed. I have attached a document with requirements that need to be met. I am having tr…
“””The more the better!”” Was a comment made by the CEO of a major company when asked about allocation of sales, general, and administrative costs to products. Do you agree? Explain.
“”The step-d…”
The gross margin for Cushing Company for the first quarter of last year was $325,000 when sales were $700,000. The beginning inventory of finished goods was $60,000 and the ending inventory of fin
The City of Southern Pines reported the following at year-end, prior to closing entries: Revenues, $11,000,000; Expenditures, $10,100,000; Other Financing Uses, $500,000; Other Financing Sources, $300
“At the end of the current year, $27,100 of fees have been earned but have not been billed to clients.
what is the adjustment to record the accrued fees? Indicate each account affected whether the”
“PROBLEM # 2
Condensed financial data of Fulton Corp. for 2008 and 2007 are presented below.
FULTON CORP.
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2008 AND 2007
2008 2007
Cash $800 $600″
“You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest retained”
I did answer to questions of my accounting case project questions on my own. But, I feel like I have a lot of wrong points. Could you review my answers and correct wrong contents and add more valued p…
“””This is a new question
Purchased tract of land in exchange for 10,000 cash down payment and a noninterest bearing note requiring five 10,000 annual payments, with the first annual payment in one”
“””Hi I have a Couple of questions that I need help answering because i don’t know. Please help me. Thank you
During the month of February, Hoffer Company had cash receipts of $7,500 and cash dis”
Equivalent units and related costs; cost of production report; entries Blanco Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Millin…
Petty Corp. made a public offering subject to the Securities Act of 1933. In connection with the offering, Ward & Co. CPA’s, rendered an unqualifies opinion on Petty’s financial statement. Huff purc
“I need the first part of this problem too.
I need answers to Comprehensive problem 1, the accounting cycle all of them answered.
Heintz and Parry 19th edition of College Accounting”
“Part 1 Gross Profit Method
King Co. requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $76,000. Purchases since January 1 were $144,000;
freigh”
“Soupy Sales Company sold 180 units @ $320 each on October 31, 2006. Cash selling and administrative expenses were
$15,000. The following information is also available:
Beginning inventory 30 un”
“Treasury stock.Ellison Company’s balance sheet shows: Common stock, $20 par $3,000,000
Paid-in capital in excess of par 1,050,000
Retained earnings 750,000
InstructionsRecord the following transa”
You are the senior on an audit of Two Be Gone, a large publicly held company. The company recently completed an acquisition of its fifth largest competitor. What risks might this present?
On its December 31, 2012 balance sheet, Emig Corp. reported bonds payable of $9,000,000 and related unamortized bond issue costs of $480,000. The bonds had been issued at par. On January 2, 2013,
“CASE 5-18 Analysis of Mixed Costs in a Pricing Decision [ LO1 , LO2 or LO3 or LO5 ]
Maria Chavez owns a catering company that serves food and beverages at parties and business
Chavez’…”
How do you lower tax rates but not the amount of revenue collected by the Treasury. If the tax rates are lowered does that not mean that the amount received by the Treasury would also be lowered?
“If this is the question
Ritter Company issues $600,000 of 10%, 10-year bonds on January 1, 2008 at 102. Interest is payable semiannually on July 1 and January 1. The company uses the straight-line”
Which principle dictates that efforts (expenses) be recorded with accomplishments (revenues)? A. Cost Principle. Which principle dictates that efforts (expenses) be recorded with accomplishments (reve…
On June 1, 2012, Pitts Company sold some equipment to Gannon Company. The two companies entered into an installment sales contract at a rate of 8%. The contract required 8 equal annual payments w
Discuss the roles of monetary and nonmonetary incentives. Do you believe that nonmonetary incentives are needed? Why?
Advanced Management Accounting questions (please see attached word document) Advanced Management Accounting Please include thorough explanation and thorough calculations for each answer chosen. 1) The…
“The following information is for Kinsner Corporation:
Total fixed costs $313,500
Variable costs per unit”
“Which of the following is true for debt service funds?
A legally required budget should be recorded in the accounts.
A combining balance sheet may not be prepared for a CAFR when more than one”
“On January 2, 2008, two identical companies lease similar assets with the following characteristics.
The economic life is eight years
The term of the lease is five years
Lease payment of”
“This is in Revenue Accounting-Governmental Funds
(Property Taxes) Prepare general journal entries to record the folowing transactions in Allendale City’s General Ledger and make adjusting entries if”
“Natalie Koebel spent much of her childhood learning the art of cookie-making from
her grandmother. They passed many happy hours mastering every type of cookie imaginable
and later creating new recip”
Sam’s Grocery Store has the following policy: Only one cashier can have access to a cash drawer. Which internal control principle supports that policy?
“The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2009.
VILLAGE OF PARRY-PRINT SHOP FUND
Statement of Revenues, Expenses, and Changes in Ne”
Select a sample of accounts payable for confirmation, emphasizing vendors with a large balance and those that the client transacts with frequently, but include several with small and zero balances.
I need help very quickly Name: Problem: P13-2, Current Liability Entries and Adjustments, File 13p-2 Course: Date: Listed below are selected transactions of Schultz Department Store for the current ye…
“Analysis of Financial Statements.
The market value of Planetarium Corp.’s common shares was quoted at $54 per share at December 31, 2007, and 2006. Planetarium ‘s balance sheet at December 31, 2007″
T/F Actuaries ensure that a pension plan is appropriate for the employee group covered. If false please explain
If the market rate of interest is 8%, the price of 6% bonds paying interst semiannually with a face valueof $100,000 will be a. equal to $100,000 b. greater than $100,000 c. less than $100,000 d. grea…
. If an available-for-sale investment is sold for which there are unrealized gains in accumulated other comprehensive income (AOCI), a reclassification adjustment affects other comprehensive income (O
“C-V-P Analysis in a Service Business
Luke Ticci, CPA, is the owner of a firm that provides tax services. The firm charges $50 per return for the direct professional labor involved in preparing stand”
An Alfalfa co-op has an agreement with its farmers to purchase alfalfa at a price that is currently 5% above the existing market price. In addition, the co-op has agreed to pay the farmers interest a
A common stock currently sells for $23 per share. They anticipate a growth rate of 10.5% and a end of year dividend of $2.50. What is your expected rate of return? If you require 17% return, should
. A company purchased a truck on October 1 of the current year at a cost of $40,000. The truck is expected to last six years and has a salvage value of $2,200. The company’s annual accounting period
“Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012.
The trial balance at June 30 is as follows.
VOGEL CONSULTING
Trial Balance
June 30, 2012
Debit Credit
Cash $ 6,850″
For which of the following businesses would the job order cost system be appropriate?
“The adjusted trial balance of Gertz Company included the following selected accounts:
Debit
Credit
Sales
$575,000
Sales Returns and Allowances
$ 50,000
Sales Disco”
“subject : accounting
question: multiple choice
have three free questions for today!
When the number of units sold is equal to the number of units produced, net income using full costing will”
Evaluate the Sprint Nextel Corp’s vulnerability to current financial threats such as a recession, higher interest rates, and global competition.
“ID which is true:
An individual can inadvertently make a gift by underestimating a property’s FMV and selling it to a relative for a price below FMV
A taxable gift may occur when property is s”
Royal Financial Services (RFS) provides front end loan origination services for a number of banks who process and maintain loan portfolios. RFS accepts applications from customers and processes them t…
“Cendant Corporation’s results for the year ended December 31, 2011, include the following material items:
Sales revenue – $6,200,000
Cost of good sold – 3,800,000
Selling and Admin. expenses -“
Five years ago, Eleanor transferred property she had used in her sole proprietorship to Blue Corporation for 1,00 shares of Blue Corporation in a transaction that qualified under § 351. The assets ha…
“””7. Only a cash basis partnership is concerned with the problem of “”unrealized receivables””.
True or False
Rachael and Ray form an equal partnership R&R on January 1, 20X1. Rachael contrib…”
The City of Charlestown levied property taxes in the amount of $7,000,000. It is estimated that 2% will not be collected. The taxes were levied July 1, 2006 for the fiscal year ended June 30, 2007.
“3. A corporation owns 90% of the voting power of a second corporation but only 70% of its total stock value. The corporations are:
Affiliated
A controlled group
Br”
Venus issues 9%, five-year bonds dated January 1, 2007, withh a $300,000 par value. The bonds pay interest on June 30 and december 31 and are issued at a price of $312,177. The annual market rate is
“A firm has liabilities of $60,000 and stocdkholders equity of $180,000. The percentage of total liabilities to total assets is:
a)25%
b)20%
c)50%
d)75%”
Matt Reiss owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of $1,000 per month. One of the barbers serves as the manager and receives an extra $500 per month. In addition
see the attachment 1. value: 30 points Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2009 purchases and sales transactions. Date Jan. 1 Feb. 10 Mar. 13 …
“Break-even analysis assumes that:
Total revenue is constant
Unit variable cost is constant
Unit fixed cost is constant
All of the above”
(TCO F) The Wisconsin Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below:
“A. Alternative 2: Transfer pricing analysis
Global Enterprises has a manufacturing affiliate in Country A that incurs costs of $300,000 for goods that it sells to its sales affiliates in Country”
Explain the philosophy behind EOQ (Economic Order Quantity) and JIT (just-in-time).
“1. Norton Co., a U.S. corporation, sold inventory on December 31, 2008, with payment of 10,000 British pounds to be received in sixty days. The pertinent exchange rates were as follows:
Dec 1 Spot”
Who are the different users of accounting information?
Quick Company has been purchasing a component, Part Q, for $20 a unit. Quick is currently operating at 70% of capacity and no significant increase in production is anticipated in the near future. The
Norton Company, a manufacturer of infant furniture and carriages, is in the initial stages of preparing the annual budget for next year. Scott Ford has recently joined Norton’s accounting staff and …
“: Response to Client Request II
Your client is being sued. You have asked the client’s lawyer about the possibility of losing the lawsuit. The client, meanwhile, has asked you to describe what wo…”
What professional standards apply to accountants who perform litigation services?
“1 Nikkel Corporation, a merchandising company, reported the following results for July:
Sales 402800
Cost of goods sold(all variable)”
“Which of the following statements is true?
the higher the discount rate, the higher the present value
the process of accumulating interest on interest is referred to as discounting
if m”
Prior Industries acquired a 70 percent interest in Stevenson Company by purchasing 14,000 of its 20,000 outstanding shares of common stock at book value of $210,000 on January 1, 2010. Stevenson
Explain how depreciation relates to income and cash flow.
“Kyoto, Inc. predicts the following sales in units for the coming four months:
Sales in units: April(240), May(280) , June(300), July(240)
Although each month’s ending inventory of finished unit”
“A company issued 60 shares of $100 par value stock for $7,000 cash. The total amount of contributed capital is:
Answer
$ 100.
$ 600.
$1,000.
$7,000.”
“a recent annual report for mae company contained the following data:
2010 2009
accounts receivable 2023 1866
less allowance for doubtful 101″
Art World Industries, Inc., was incorporated in 1986 in Delaware, although it is located in Los Angeles. The company prints, publishes, and sells limited-edition graphics and reproductive prints in th
why would an entrepreneur want to choose a proprietorship, a partnership or a corporation over the other?
“Macready Company is considering introducing a new compact disc player model at a price of $105 per unit. Macready’s controller has compiled the following incremental cost information based on an esti
Please help me with the assignment attached. It is for Principals of Accounting 1. On November 1, 2010, the following were the account balances of Montana Equipment Repair. Debits Credits Cash $2,790 …
“7. Which one of the following cost-flow assumptions provides the lowest inventory value in periods of rising prices? (Points: 4)
FIFO periodic
LIFO periodic
FIFO perpetual”
“Hello,
This was another one I tried to submit yesterday, but it too asked for a price and it was only 3/3 asked yesterday.
Can you help please?
Thank you,
Liz”
Distinguish general revenue from progam revenue. Provide several example of each.
“7. Overhead is applied on the basis of direct labor hours. Three direct labor hours are required for each product unit. Planned production for the period was set at 8,000 units. Manufacturing overh”
“Find true statement(s):
If a company takes longer to pay its suppliers than before, all other things being equal, this means that suppliers are providing more financing for the company.
P”
surprise Company’s sales budget showed expected sales of 13,400 widgets. Beginning finished goods contained 1,200 widgets. the company determined that 14,100 units should be produced. how many widgets
The U.K manager of an international bond portfolio would like to synthetically sell a large position in a French government bond, denominated in euros. The bond is selling at its par value of €46.15…
As the time period under consideration increases, how would the relationship between income and cash flow change? Compare and contrast.
Hart owned a building with a fair market value of 400,000. The building was covered by a 300,000 fire insurance policy containing an 80% coinsurance clause. What amount would Hart recover if a fire
James corporation exchanges a building (fair market value = $800,000, adjusted basis = $600,000) that has a $100,000 mortgage for another building owned by Pete Corporation (fair market value = $1,
provide a detailed description of the outside and inside influences that have shaped Japanese accounting.
“A purchased patent has a legal life of 20 years. It should be
amortized over 20 years regardless of its useful life.
not amortized.
amortized over its useful life if less than 20″
The net income of Simon and Hobbs, a department store, decreased sharply during 2000. Carol Simon, owner of the store, anticipates the need for a bank loan in 2001. Late in 2000, Simon instructs the s
“Thom Jones (SSN 227-31-7253) is an unincorporated manufacturer of widgets. He uses the LCM method to value his inventory and reports the following for 2010:
Sales (less returns and allowances) $1,”
OutCo, a controlled foreign corportion owned 100% by USCo, earned $900,000 in Subpart F income for the current year. OutCo’s current year E&P is $250,000 and its accumulated E&P is $18 million. what i
A company purchased a new truck at a cost of $42,000 on July 1, 2008. The truck is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method o
What is McDonald’s Corporation’s market share? What is the trend? Please provide references.
“PLEASE I ONLY NEED LETTER B. LETTER A WAS ANSWERED.
Case 8-8 Accounting for trading and available-for-sales securities
At the end of the first year of operations, Key company had a current equ”
A corporation issued $200,000 of common stock in exchange for $200,000 of fixed assets. Where would this transaction be reported on the Statement of Cash Flows?
“1-2 paragraphs
Select a company you are familiar with.
Explain each step of the accounting cycle. Describe at least one transaction that would occur at the company you selected in each of these s”
“After 6 months of operations, Right Way Lumber had the following revenues and expense balances:
Supplies expense= $11,000
Service revenue= $62,090
Utilities expense= $6,200
Rent expense= $14,700″
What are the components of measuring the economic damages from the loss of household services?
“Get your custom answer from our expert tutors to this homework question:
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillianâ??s family home in the suburbs of Chicago. The”
What are value-added processes? (Please include how you determine if a process adds value in your definition)
Compute the profits of the stores and wall decor using traditional amounts related to pricing, cost and a 20% mark up on wall decor costs
“• Submit a 200- to 300-word response in a Microsoft Word document to the Assignments section of eCampus that includes the following information:
Three strengths and three weaknesses in the fin…”
“Requisition Nr. Material Job No. Amount
101 Steel 210″
See attachment for questions Thank you THESE ARE REGULATION CPA REVIEW QUESTIONS THAT I NEED HELP WITH. I JUST SELECTED THE ONES THAT I’M HAVING A LITTLE DIFFICULTY ANSWERRING 1, 4, 5, 6, 7, 9, 10, …
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company h…
Sometimes a business entity will change its method of accounting for certain items. The change may be classified as a change in accounting principle, a change in accounting estimate, or a change in re…
On January 1, 2007, Yarrow Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation d
23) In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million,
Marilee Company produced 6,000 units of product Y, which is 80% of capacity. Each unit required .25 standard machine hours for production. The standard variable factory overhead rate is $5.00/machine
“Accounting 280, week four chapter 4 excercises
4 of Financial Accounting
Prepare written answers to the following assignments from Ch. 4 of Financial Accounting:
..”
“This is a start up new business, put in whenever numbers you feel are acceptable.
“”What is the
EBITDA Coverage Ratio
Profit on Sales
Basic Earning Power (BEP) Ratio”
On October 2, 20X4, Duck Corporation borrowed 150,000 British pounds from a London bank, evidenced by an interest-bearing note payable due in one year. The note is payable in pounds. Exchange rates fo
I have attached the problems that I hope that you can solve for me! E 4-1 Classify each of the following items of factory overhead as either a fixed or variable cost. (Include any costs that you consi…
the most important influence on US accounting has been and remains the SEC. Discuss
*Look at .Doc attachment Near the end of 2011, the management of Simid Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2011. SIMID SPORTS COMPANY E…
“which of the following entries records the collection of cash from cash customers
fees earned debit. accounts receivable credit
cash debit. fees earned credit
accounts receivable debit. fe”
“The Uptown Company uses standard costing. Variable overhead is applied at $8 per direct labor hour. Data for the month of September follows:
Actual variable costs $78,000″
Russell Corporation sells three different models of mosquito “zapper.” Model A12 sells for $55 and has variable costs of $37. Model B22 sells for $104 and has variable costs of $68. Model C124 sells f
“Novelli’s Nursery has developed the following data for lower-of-cost-or-market valuation for its products:
The normal profit margin on all trees is 20% of selling price and disposal costs are 10″
Here is a managerial finance question? Roninsons Memorial Hospital wants to install a $1.5 million computer. It plans to use the computer for 3 years and replace it with a new system. the company has
“PMT = $ 1000 x 8% = $ 80
Where do you get the 8% from?”
Adjusting Entries: Unearned rent at 1/1/10 was $5,300 and at 12/31/10 was $6,000. The records indicate cash receipts from rental sources during 2010 amounted to $60,000, all of which was credited to t…
“Why do you think it took from 1999, when the XBRL concept was invented, until 2009
for the SEC require that public filers adopt?
From the PWC Webcast on XBRL, what are the differences between”
(Learning Objectives 4, 5: Recording transactions directly in T-accounts; preparing and using a trial balance) During the first month of operations (November 2010), Stein Services Corporation complete…
“($3 for correct answer)
At the beginning of the year, Kullerud Manufacturing had a credit balance in its allowance for doubtful accounts of $6,307. During the year Kullerud made credit sales of $890,”
“Does FastCar, the lessee under the operating lease, hold a variable interest in Real Estate, the lessor entity?
Assignment is attached”
“1. A corporation sold property with an adjusted basis of $300,000 in an installment sale in Year 1. The terms of the sale called for a payment of $100,000 at the time of the sale and five annual payme”
“Camby Corporation’s balance sheet reported the following:
Capital stock outstanding, 5,000 shares, par $30 per share $150,000
Paid-in capital in excess of par 80,000
Retained earnings 100,000″
“Cost accountng Variance:
Philly COmpany set the following standard unit costs for its single product:
DM (10lbs. @ $2 per lb) $20.00
DL (2hrs. @$11 per hr.)”
Accounting is not my favorite subject, but I am trying to understand it. I need help with this homework. The file is attached as an excel document. The assignment question, as well as, worksheet. You …
why would a company change accounting methods repeatedly. to gain more revenue?
Here are the questions again. I need to send one more attachment. I need both of them. Thank you Take Test: Chapter 14: Interactive Quiz B Content: Long-Term Liabilities Q uestion 1 Question 1 Jason C…
“Ratio Analysis
The current ratio for a company with current assets of $70,000, quick assets of $30,000, total assets of $150,000 current liabilities of $50,000 and net sales of $80,000 would be:”
“Which of the following is a not true statement about tax-exempt organizations?
they must be organized to serve the charitable needs of the public at large.
they must first become a not-for-pro”
I need a net income of 6,782.96 with what is given with the trial adjusted balance. Acct No. 101 111 115 118 120 125 127 129 130 132 155 156 165 166 175 176 186 201 205 210 211 213 215 230 240 301 311…
“Sanchez co. sold land ot Benita Sanchzes for $100,000 who owns 60% of the outstanding stock of Sanchez. The company;s adjusted basis in the land was $120,000.
Compute the company’s realized and r”
26-21 C. Ward is auditing an entity’s compliance with requirements governing a major federal financial assistance program in accordance with the Single Audit Act Ward detected noncompliance with req…
On December 31, 2011, Lang Corporation leased a ship from Fort Company for an eight-year period expiring December 30, 2019. Equal annual payments of $200,000 are due on December 31 of each year, begin
Suzy owns a 25% capital and profits interst in the calendar-year SJDV Partnership. Her adjusted basis for her partnership interest on July 1 of the current year is $200,000. On that date, she receiv
Mosbey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $16,000. Budgeted cash receipts total $188,000 and budgeted cash disbursem*nts total $187,000. The desired en
“Case III
.
ReelTime distributes DVDs to movie retailers, including dot-coms. ReelTime’s top management meets monthly to evaluate the company’s performance. Controller Terri Lon prepared the foll…”
At 9,000 direct labor hours, the flexible budget for indirect materials is $27,000. If $28,000 of indirect materials costs are incurred at 9,200 direct labor hours, the flexible budget report s
“5. Account balances and supplemental information for the Bighorn Corporation as of December 31, 2012, are given below:
Accounts Payable ………………………………… $ 75,900
..”
“. Which of the following accounts would appear on a budgeted balance sheet?
Income tax expense.
Accounts receivable.
Sales commissions.
Depreciation expense.
All of these”
“Sanchez co. sold land ot Benita Sanchzes for $100,000 who owns 60% of the outstanding stock of Sanchez. The company;s adjusted basis in the land was $120,000.
Compute the company’s realized and r”
“4. Basic and diluted EPS.
Assume that the following data relative to Kane Company for 2010 is available:
Net Income $2,100,000
Transactions in Common Shares Change Cumulative
1, 2010, Beginni”
“Number 3 on page 263 –
Calculating Project NPV Down Under Boomerang, Inc., is considering a new three-year
expansion project that requires an initial fixed asset investment of $3,400,000. The fi”
Earl’s Computers, Inc. is a cash basis taxpayer that uses the calendar year as its tax year. On October 2, Year 1, it borrowed $1,000 to pay a shipping charge and repaid $150 of that loan during the y
Please explain why some accountants want to record R&D expenditures as an asset on acquisition. Under what authority can accountants record R&D as an asset?
“Which of the following is not a potential source of financial leverage
common stock
long term debt
intrest payable
accounts payable”
Accounts receivable are reported on the balance sheet at:
“Ch. 17-Part A: Investment in Bond
All A’s Company (a Sept. 30th year-end company) purchased a debenture issued by High Rate, Inc. on 4/1/CY (CY = current year).
Relevant data to these bonds w…”
As preparation for the final research paper, formulate a theory about the correlation between measurable independent variables (causes) and one measurable dependent variable (the effect). Be sure to h…
What is the need for elimination in the consolidation process?
What are the possible irregularities or schemes in accounts receivables for Apollo Shoes?
Your firm has sales of $628,000 and cost of goods sold of $402,000. At the beginning of the year, your inventory was $31,000. At the end of the year, the inventory balance was $33,000. What is the inv
“If your balance in the Insurance Expense account of the worksheet was $500 what would the journal entry
to close the Insurance Expense account be?
Insurance Expense 500
Capital 500
Insurance”
specify the characteristics of accountants’ liability under common law, and cite a specific case precedent
“Johnson Co…” Give the 2 journal entries to record impairment loss. (Question attached)
“2. Confrontational interviews should usually be conducted when
police decide that the suspect is guilty
the examiner is starting the investigation
all other investigative procedures”
“Candice Willis will invest $30,000 today. She needs $150,000 in 21 years. What annual interest rate must she earn?
Interest Rate = ____%”
“Selling the bonds at a premium has the effect of
causing the total cost of borrowing to be lower than the bond interest paid.
causing the total cost of borrowing to be higher th”
“1. Prepaid expenses are classified as current assets if the services purchased are expected to expire within twelve months or the operating cycle, if that is longer.
True
False
Segmen”
“which of the following statements is not ture for debt service funds?
a)special assessment debt for which the government has some obligation is paid through the debt service fund
b)mature interest p”
A common way for a CPA firm to demonstrate its defense of a lack of duty to perform by
A sale for 200,000 francs was made by a French company to a Canadian company when the exchange rate was F4.0 = Can$1.00. The rate changed to F4.5 = Can$ 1.00 on the date payment was due. The transacti
I have quite a number of questions. How do I get them all answered.
“The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year:
Work in Process
Balance, July 1
60,200″
Balance sheet description and instructions are attached. Scully Corporation’s comparative balance sheets are presented below. SCULLY CORPORATION Balance Sheets December 31 2008 2007 Cash $ 4,300 $ 3…
“On October 10, 1981, the general fund of Warsaw repaid to the utility fund a loan of $1000 plus $40 interest. The loan had been made earlier in the fisacal year.
Prepare JE for Government-based an”
if i owned dial the antibacterial soap company what kind of raw materials would be used and what types of processes would be used by my company?
Hello, Sir I attached my question in the file, I just want you to answer question 3 . I will send you second part of this question in next message which has the rest of the question Thanks
Byters on Call provides computer repairs on-site and has a contribution margin ratio of 32%, a contribution margin per service call of $5, and fixed costs of $21,160 per month. During March, it made 5
“Capstone analytical review of Chapters 5-6. Analyzing accounts receivable,
property, plant and equipment, and other related accounts (Note: Please refer
to Case 4.26 on pages 140-141 for the fin…”
The city of Romeo purchased a squad car for the police department. If the operations of the police department are financed by general revenues, which of the following is correct concerning where th
REQUIRED: From the meeting of senior DAP executives, develop a strategy map of objectives, as well as potential Balanced Scorecard measures, for DAP. You can be guided by the following questions: Fina…
P2-2 (Transaction Analysis) Follow this example for each transaction. Example: Cash received for licenses during 20X1, $8,000. Answer: Governmental Funds Gen Cap. Assets & Gen. Longterm Liabilities Fu…
In which of the following situations would the trial balance not balance?
An audit client is being sued for $500,000 for discriminatory hiring practices. Required: Indicate the appropriate action the auditor should take for each of the following independent responses to …
Cat Corporation is acquiring Bird Corporation by exchanging 100,000 shares of Cat stock and $80,000 cash for all of Bird’s assets (valued at $500,000), liabilities ($200,000), and accumulated earnin…
I have a tax return assignment. Please follow all the instructions in the assignment attached.
Refer to this Table for questions 6-16 Year 2 Year 1 Accounts receivable 535,000 460,000 Inventory 625,000 515,000 Total Current Assets 1,340,000 1,130,000 Total Assets 1,650,000 1,390,000 Current Lia
On January 1, 2011, Capitech Corporation acquired Logirun, Inc. as a long term investment for $240,000 (a 30 percent common stock interest in Logirun). On that date, Logirun had net assets with a boo
Determine the earnings per share of common stock under the two alternative financing plans, assuming income before bond interest and income tax is $1,000,000. Round answers to 2 decimal places if requ
“All but which of these ratios are considered to be debt ratios?
Times interest earned
Debt Ratio
Fixed charge ratio
Current Ratio”
The Gorman group issued 900000 of 13% bonds on june 30 2006. The bonds were dated on june 30 and mature on june 30 2026 20 years. The market yield for bonds of similar risk and matuirty is 12% interes
when a perpetual inventory system is used, sales revenue is recorded as products are sold: a)but the cost of goods sold is not recorded b)and the cost of the goods sold is transferred from the finishe…
Should auditor recommend that the Accounts Receivable be confirmed as of november 30, or december 31?Why?
Problem 26-4 Problem 26-4 Taylor Electronics, Inc. (TEI), has been approached by a new customer who wants to place a one-time order for a component similar to one that TEI makes for another customer. …
“Indicate wheter each of the following would be added to or deducted from net income in determining net cash flow from operating activities by the indirect method:
Increase in prepaid expenses
(b”
The Sarbanes-Oxley Act (SOX) is a piece of legislation that affects many corporations. Do you think SOX is really necessary? Explain your answer
Assume that the HI Partnership in the preceding problem held the IPR stoakc for three months and on October 1 sold it for $15,000 to Isaac Stanley, the 80 percent partner and a real estate broker. How
Imagine you are a financial advisor with a client in the wholesale produce business that just completed its first year of operation. Due to weather conditions, the cost of acquiring produce to resell
can you please answer these questions. Thank you. Chapter 7, Problem 7-3 A colleague who is aware of your understanding of financial statements asks for help in analyzing the transactions and events o…
Roberts Inc. transferred all its assets to Acquisition Inc. for $300,000 worth of its voting preferred and $50,000 in cash to the sole shareholder (Ann) of Roberts Inc. Ann’s basis in her shares was…
1,4 Benton Company (BC) has one owner, who is in the 35% Federal income tax bracket. BC’s gross income is $320,000, and its ordinary trade or business deductions are $175,000. Compute the tax lia…
CPA-Buster Company creates, produces, and sells cd-rob based CPA review course for individual use. Lily Shultz, head of human resources, is convinced that question development employees must have stro
“Accounting 3270, Spring, 2010
Case III
.
ReelTime distributes DVDs to movie retailers, including dot-coms. ReelTime’s top management meets monthly to evaluate the company’s performance. Control…”
Shin Company has a loan agreement that provides it with cash today, and the company must pay $25,000 4 years from today. Shin agrees to a 6% interest rate. The present value factor for 4 periods, 6
“24) When would a variance be labeled as unfavorable?
none of the these
When standard costs are more than actual costs
When expected sales are more than actual sales
“
Problem 1 – John’s Sporting Goods is preparing its annual cash budget, showing quarterly data, for 2008. A $20,000 cash balance is desired at the end of each quarter. Borrowings and repayments are in
I need help with thie Cost Accounting class Assignment. It is due tonight by 11:59(13 hours from now). The file is attached. ACC 331 Spreadsheet Exam Chapters 5 and 6 In order to do these problems it …
“Comprehensive Problem. Heintz and Parry. College Accounting 19th Edition.
PERIOD 1
The Account Cycle
Bob night opened “”The general’s favorite Fishing Hole”” The fishing camp is open from April t”
see the attachment Rocklin Corporation reports the following components of stockholders’ equity on December 31, 2009. Common stock—$25 par value, 100,000 shares authorized, 45,000 shares issued an…
Please find attached pdf file with quesiton Session 11 Problem 1 The O’Toole Corporation has been operating successfully for several years. It is authorized to issue 24,000 shares of no-par common sto…
FASB rules do not allow for the keeping of two different sets of accounting records. Ethics maintain that there should be only one set of accounting records and that it be comprehensive. It is also il
A deduction allowed to wholesalers and retailers from the price of merchandise listed in catalogs is called cash discounts? T/F
On December 31, 2010, when the market interest rate is 10%, Kenneday Realty, co. , issues 600,000 of 7.25% 10 year bond payable. The bonds pay interest simiannually. 1. Determine the present value of …
Tropical Tours reported revenue of $400,000 for its year ended December 31, 2011. Accounts receivable at December 31, 2010 and 2011, were $35,000 and $32,000, respectively. Using the direct method for
“1.An investor buys a U.S. Treasury bond whose current yield to maturity is
10 percent. The investor is subject to a 33 percent federal income tax rate on
any new income received. His real after-tax”
what is adjusted gross income (AGI)and How do you calculate AGI?
Mindy Feldkamp and her two colleagues, Oscar Lopez and Lori Melton, are personal trainers at an upscale health spa/resort in Tampa, Florida. They want to start a health club that specializes in health
“Lenat’s contribution income statement utilizing variable costing appears below:
Lenat Company
Income Statement
For the Year ended December 31, 2010
..”
“1. Amortization of discount or premium.
Grider Industries, Inc. issued $6,000,000 of 8% debentures on May 1, 2010 and received cash totaling $5,323,577. The bonds pay interest semiannually on May 1 a”
I resubmit my assignment, but can you do that for $100 Thank you Chapter M3 Set B Assignments EXERCISES E3-2B Roland Enterprises recorded the following activity in work-in-process inventory for Octobe…
(TCO D) Vargas Company has 35 employees who work eight-hour days and are paid hourly. On January 1, 2009, the company began a program of granting its employees ten days of paid vacation each year.
If sicial engineering is the reason that confidential financial information was revealed, what needs to be done to prevent this from occurring in the future?
“Prepare the December 31, 2010 Balance Sheet for Green Corporation in good form. Ignore income taxes.
Debits Credits
Cash $ 98,500
Sales $4,050,000
Trading Securities (at cost, $145,000) 76,”
“Exercise 14-3
The comparative condensed balance sheets of Conard Corporation are presented below:
CONARD CORPORATION
Comparative Condensed Balance Sheets
December 31
2012 2011
Assets
Curr”
Sybil gave her son Todd 1,000 shares of XYZ stock on January 16, 2008. The stock’s high and low selling prices that day were $55 and $53. Sybil had purchased the stock in 2007 for $70 per share. At …
“Effective capital budgeting for general capital assets of a government requires
Intermediate and long-range capital improvement plans for general capital assets.
Nonfinancial information on ph”
“Record the following transactions of a company in general journal form:
Reacquired 8,000 of its own $10 par value common stock at $40 cash per share.
The stock was originally issued at $15 per”
T/F The investment section of the cash statement utilizes the Current Assets section of the Balance Sheet. If false please explain.
“Consider the following data for the Rivera Company:
Factory Overhead
Fixed Variable
Actual incurred $14,200 $13,300
Budget for standard hours allowed
for output”
Marlene Grady and Pauline Monroe are partners engaged in operating The G& M Doll Shop, which has emloyed the following persons since the beginning of the year:1) Hoffman…$1.700 per month2) Drugan…
Celine Dion Corporation purchases a patent from Salmon Company on January 1, 2010, for $54,000. The patent has a remaining legal life of 16years. Celine Dion Corporation feels the patent will be use
Expected interest rate The real risk-free rate is 3 percent. Inflation is expected to be 2 percent this year and 4 percent during the next 2 years. Assume that the maturity risk premium is zero. What
Need help with these answers please. Chapter 7 intermediate 1 points Remington Corporation had accounts receivable of $100,000 at 1/1. The only transactions affecting accounts receivable were sales of…
1-Analyze the fine points of portfolio theory and determine which single point is the most difficult for investors to understand, and then explain it in a way that your grandmother would understand (a
text book Chapter 17 South-Western Federal Taxation Corporations, Partnerships, Estates & Trusts. 2010 ed problem 3″ Tax return problem 3. “Lucian A. Todd died on June 6, 2008, at Nicollet County Gene
Should the controller or CFO do something to address the deficiency?
“The Whitfield Co. uses a standard costing system and has established the following standards:
Direct materials: 4 pounds at $8.00 per pound
Direct labor: 1 hour at $16.00 per hour
During July, Whit”
Sedato Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost o…
“Focus Foot Company reported the following amounts in the stockholders’ equity section of its December 31, 2006, balance sheet.
Preferred stock, 12%, $100 par (100,000 shares, authorized, 25,000…”
“Which of the following is not an advantage of a perpetual inventory system?
assists in the prevention of stockouts
requires less data processing effort than periodic systems”
If initial budgets prove unacceptable, planners achieve the MOST benefit from
“The income statement for Baxter Company for 2008 appears below. BAXTER COMPANY Income Statement For the year Ended December 31,2008 —————————————————– Sales (40,000…
A machine is purchased by making payments of $5,000 at the beginning of each of the next five years. The interest rate was 10%. The future value of an ordinary annuity of 1 for five periods is 6.1051
Upper Darby Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be $150,000. The annual cost savings if the
The Orange Corporation was audited for the year ended December 31 and the reports were delivered on February 15. After the fieldwork was completed on January 25, the auditor learned of a two-for-o
“8.
(Points: 1) Guest Corporation issued (sold) 1,000 shares of its no par common stock for $110 per share. The bylaws established a stated value of $100 per share. The transaction is recorded as”
Danton Company manufactures two products, Product F and Product G. The company expects to produce and sell 600 units of Product F and 3,000 units of Product G during the current year. The company u…
“Pembroke started a business. During the first month the following transaction occurred.
invested cash in business, 18,000
bought office supplies fro 4,600: 2,000 in cash and 2,600 on account.”
“1. -Long-Term Contracts.
Parcell Company contracted on 4/1/07 to construct a building for $2,500,000. The project was completed in 2005. Additional data follow:
…”
“Case 8-8 Accounting for trading and available-for-sales securities
At the end of the first year of operations, Key company had a current equity securities portfolio classified as available-for-“
Hi pls include the formula and explain how to get those. Thanks
Apollo shoe case assignment complete the inventory audit section
“A company had net sales of $600,000, total sales of $750,000, and an average accounts receivable of $75,000. Its accounts receivable turnover equals ________.
Answer
.13
.80
7″
Construct a monthly cash budget for the clinic for the period January through June 2006. What is the maximum monthly loss (cash shortfall) during the six-month planning period? What is the maximum
Beacon Company is considering purchasing new equipment for $355,950. The equipment has a 5-year useful life, and depreciation would be $71,190 (assuming straight-line depreciation and zero salvage val
“The interest charged by the bank, at the rate of 9%, on a 90-day, discounted note payable for $100,000 is (Points: 2)
$9,000
$2,250
$750
$1,000
When a $”
“Please help with this HW question
Feltzen CO. reports sales of $10,000,000 for 2002 with a gross profit margin of 40%. 20% of its sales are on credit.
2001 2002
AR”
“3. For the following income statement and balance sheet, fill in the missing information for the calendar year ending December 31.
Sales ($) 600,000__________
COGS 200,000
Gross Profit 400,”
“1. The purpose of incremental analysis is to find the alternative (Points :1)
with the fewest relevant costs.
that brings in the most revenue.
that contributes the most to prof”
Complete the Ratios and Growth Rates worksheet. Please see attachment. Thank you!! Assignment 1-3 Worksheet Part I: A. Calculate the following ratios for East Coast Yachts and compare them to those fo…
Garr Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2010 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2010 with interest payable April 1 and October 1.
Milner Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 box tops from Milner Frosted Flakes boxes and $1.00. The company estimates that 60% of the box tops will be r
what is a dilutive security? What disclosure is required for dilutive disclosure?
Flax, LLC purchased only one asset during 2011. It placed in service a computer (5-year property) on January 16th with a basis of $14,000. Calculate the maximum depreciation expense. (Ignoring Section
can you provide the answers to this test? ACCT 2312 Final Exam NAME: __________________________ 1. Which of the following is not a strong reason for budgeting? a. budgets provide a benchmark for judgi…
Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2009, for $75,000. The land originally cost Leo $60,000. Stiller reported net income of $125,000 and $14…
Purchased $100,000 of U.S. Treasury 6% bonds, paying 102 plus accrued interest of $1000. The security is to be held short-term profits.
“On July 1, 20X0, the beginning of its fiscal year, the trial balance of the General Fund of the City of St. Bea was as follows:
Cash 20,000
Tax Receivable–Delinquent 120,000
Allowances for U”
Hunter Corporation holds 80 percent of the voting shares of Moss Company. On January 1, 2008, Moss purchased $100,000 par value 12 percent first mortgage bonds of Hunter from Cruse for $115,000. Hunte
“Dexter, Inc. is a calendar-year corporation. Its financial statements for the years 2007 and 2006 contained errors as follows:
2007 2006
Ending inventory $3,000 overstated $8,000 overstated
Depreci”
“Use the following information to answer questions 1-3:
Donald Trump has written a self improvement book that has the following cost characteristics:
Selling Price $14.00 per book
Variable Cost pe”
Weaver Research Company issues bonds on January 1, 2008, that pay interest semiannually on June 30 and December 31. The bonds have a $120,000 par value, the annual contract rate is 12%, and the bonds
“Changes in depreciation methods, estimates.
On January 1, 2003, Sauder Company purchased a building and machinery that have the following useful lives, salvage value, and costs.
Building, 25-year es”
Fairfield Corporation uses an actual cost system and produces a single product. Information about the product for the past year is as follows: Product X Production (units) 100,000 Sales (units) 80,000…
“1. An unfavorable materials quantity variance would occur if
more materials were purchased than were used.
actual pounds of materials used were less than the standard pounds allowed.
actua”
Fox Manufacturing is a small textile manufacturer using machine-hours as the single indirect-cost rate to allocate manufacturing overhead costs to the various jobs contracted during the year. The foll
What is the forensic accountant’s role in Antitrust Litigation? Explain.
Why are ethics so important in the field of accounting?
Financial Performance. Based on the financial trends of Sprint Nextel Corp, predict how these trends will impact financial performance in future periods. Explain your rationale for this prediction.
“Use the following information for questions 1 through 3.
Mathis Co., at the end of 2010, its first year of operations, prepared a reconciliation between pretax financial income and taxable”
“Hamby Company had 250 units of product in its work in process inventory at the beginning of the period
and started 2,000 additional units during the period. At the end of the period, 750 units were i”
“o Question 2-48, CVP and Financial Statements for a Mega-Brand Company, on p. 82
Question 2-61, CVP in a Modern Manufacturing Company, on p. 87
EXCEL Application Exercise, CVP and Break-Even”
Agee Corp. acquired a 25% interest in Trent Co. on January 1, 2010, for $500,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2010, Trent paid ca
“During the current year, merchandise is sold for $2,850,750. The cost of the merchandise sold is $1,995.525.
What is the amount of the gross profit?
Compute the gross profit percentage (gross”
Under IFRS, accounts receivable can be accounted for at fair value whenever company management wants to do so. True False 2. Accounting for the pledging of accounts receivable as collateral for a l…
Pitre, Inc. earned net income of $150,000 during 2010. The company wants to earn net income of $25,000 more during 2011. The company’s fixed costs have been and are expected to remain at $40,000. Va…
“Procedures in Collecting Forensic Evidence
As corporate controller for Apollo Shoes you are tasked to find and explain any irregularities in the Apollo Shoes Case.
Resource: Apollo Shoes Ca…”
Gerken Company concluded at the beginning of 2009 that the company’s ownership interest in DillCo had increased to the point that it became appropriate to begin using the equity method to account for
What control system might Guillermo use to help them achieve their organizational goals?
“multiple choice have three free questions for today
Which of the following is a responsibility that distinguishes an investment center manager from a profit center manager?
Setting prices”
Valuation Van Buren currently expects to pay a year-end dividend of $2.00 a share (D1 = $2.00). Van Buren’s dividend is expected to grow at a constant rate of 5%a year, and its beta is 0.9. What…
On January 1, 2006 Finch corporation owned a 90% interest in Nest Corporation at which time the investment in Nest account had a balance of $350,000 which was 90% of Nest’s $370,000 in stockholder’s E
“can you make little note on how you got the answer please
thanks”
“The Oxford Company has budgeted sales revenues as follows:
Jan Feb Mar
Credit sales $240,000 $192,000 $144,000
Cash sales $144,000 $408,000 $312,000
Total sales $384″
accounting checkpoint #2 1. CheckPoint: Regulatory Bodies • Post your response to the following question, using 250 to 300 words: What are the major regulatory bodies and their functions?
Cash conversion cycle Primrose Corp has $15 million of sales, $2 million of inventories, $3 million of receivables, and $1 million of payables. Its cost of goods sold is 80 percent of sales, and it f
“Putnam Corporation manufactures a single product. The standard cost per unit of product is shown below.
-Direct materials-1 pound plastic at $7.33 per pound
-Direct labor-1.5 hours at $12.56 p”
Please I need help asap Alice J. and Bruce M. Byrd are married taxpayers who file a joint return. Their Social Security numbers are 123-45-6789 and 111-11-1111, respectively. Alice’s birthday is Sep…
The Sadie School District is considering six different options for purchasing new computer equipment. REQUIRED: Show the journal entries that would be required in the District’s General Fund to both…
“4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:
February
$150,000
March
$120,000
April
$105,000
May
$165,000
Past exp”
On July 23 of the current year, Dakota Mining Co. pays $4,836,000 for land estimated to contain 7,800,000 tons of recoverable ore. It installs machinery costing $390,000 that has a 10-year life and no
ACC 422 Auditing and assurance services 8-32 and 9-36 answer
Deere Farm Products applies overhead using a predetermined overhead rate. Overhead is applied based on direct labor hours. At the beginning of the year it is estimated that $500,000 in overhead will b
Gribble Corporation acquires the Dibble Corporation for $7,200,000. On appraisal, the assets of Dibble Corporation have a fair market value of $6,800,000. The excess of the purchase price over the
“16-16
ADK delivery is a small company that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves packages to and from a central depot with”
On October 1, Toby exchanged an apartment building (adjusted basis of $475,000 and subject to a mortgage of $225,000) for another apartment building owned by Eddie (fair market value of $750,000 and s
The bond indenture may provide that funds for the payment of bonds at maturity be accumulated over the life of the issue. The amounts set aside are kept separate from other assets in a special fund c
“””prepare a ratio analysis table to compute the quick and current liquidity ratios and dupont ratio””
Budget Data
Units Budgeted $ Budgeted Units Actual
Production
Mid-Grade 2,585 2,800
High”
Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution marg
“3 to 4 pages.
You have been asked to speak at a career fair for high school students in your home town.
Specifically, you are making a presentation about your role as an accountant.
Describe fo…”
“Stock options.Prepare the necessary entries from 1/1/10-2/1/12 for the following events using the fair value method. If no entry is needed, write “”No Entry Necessary.””1. On 1/1/10, the stockholders ad”
Quiz Problem #5 Cash Conversion Cycle. Calculate the accounts receivable period, accounts payable period, inventory period, and cash conversion cycle for the following firm. Income statement data: Sal…
Please complete the question as soon as possible. Outcome should include Form 1040 and all necessary schedules. Any software can be used as long as it produces a PDF file for completion. Appendix E CO…
“Spears Music, Inc. produces a hip-hop CD that is sold for $15. The contribution margin ratio is 40%. Fixed expenses total $6,750.
Instructions
Compute the variable cost per unit.
Comp”
Assume all investments are short-term and readily marketable. The following transactions occurred.June 2; purchased 300 shares of Beaty Corporation common stock for $45 per share; July 1; purchased 20
“Investment in debt securities at a discount.
On May 1, 2010, Kirmer Corp. purchased $450,000 of 12% bonds, interest payable on January 1 and July 1, for $422,800 plus accrued interest. The bonds matu”
“The Chesepeake City Council approved and adopted its budget for FY 2008. The budget contained the following amounts
Estimated Revenues $900,000
Appropriation $860,00
Authorized transfer to”
“Documents of title do not perform which of the following functions?
obligation of repayment
receipt of bailment
contract for storage or shipment
symbol evidencing ownership of goods”
11) When would a special revenue fund be deemed to have satisfied the eligibility requirement of a reimbursem*nt-type federal grant under GASB Statement 33? A. When work has started for the project B….
Topp Manufacturing Company acquired 90 percent of Bussman Corporation’s outstanding common stock on December 31, 20X5, for $1,52,000. At that date, the fair value of the noncontrolling interest was …
There are 3,000 accounts receivable with a gross value of $6,900,000. The accounts are similar in size and will be treated as a single stratum. An overstatement or understatement of more than $150,000
Describe the current economic and financial condition we are facing today. How will the current economic and financial condition impact the future growth of the businesses? If you were raising funds
Compare aspects of governmental, internal, and external auditors’ independence problems.
Question 1 Jack Leonard has asked you to assist him in preparing his 2010 tax return. To this end, he provides you with the following information. Mr. Leonard’s employer is a large, publicly traded …
How to do the Number 1 and Number 3. And I don’t even now what is Number 3 asking about…
“Calculate the percent increase or decrease for each of the following financial statement items:
2010 2009
Cash $37,500 $30,000
Account receivable $63,000 $52,500
Inventory”
Why would a corporate transferor want to avoid the nonrecognition of gain under Sec. 351? How can the nonrecognition provision of sec. 351 be avoided?
Please explain how retail industries like Sony Corporation IASB and FASB measurement conventions affect presentations. If the Sony Corporation was to use the cash basis of accounting, how would that d
“””Gain Sharing
Sakura Snack Company manufacturers a line of snack foods, such as cheese crackers, granola bars, and cookies. The production worders are part of a gain-sharing program that works as”
“1. Presented below is information related to Jones Department Stores, Inc. pension plan for 2011.
Accumulated benefit obligation (at year-end) $600,000
Service cost 520,000
Funding contribution f”
“””**I have taken out some questions**
Which of the following element is not necessary in order to calculate the amount of interest?
Principal
Inflation rate
Interest rate
Time”
“When a company repurchases its own common stock, it is likely that ______
The stock price will increase because the company views the stock as undervalued
The stock price will decrea”
Explain the differences between a proprietorship, a partnership and a corporation.
Wesland Corporation had total variable costs of $168,000, total fixed costs of $116,200, and total revenues of $254,000. Compute the required sales in dollars to break even. (Round computations to 3 d
“Wilson Co. is preparing next period’s forecasts. Total fixed costs are expected to be $300,000 and the contribution margin ratio is expected to be 30%. The applicable income tax rate is 25%.
C”
Company M had fixed costs of $262,500, variable costs of $625,000, and actual sales of $1,000,000. If the company has a break-even point at $700,000 in sales revenue, determine (a) the margin of safet
“Inventory costing methods place primary reliance on assumptions about the flow of
resale prices.
Thank you!”
I am confused on what to do.I submitted one problem, is it too big?
“Cost Accounting:
Q) Top Management currently reward their purchasing managers and production managers based on a combination of two measures as follows:
on total cost variances, and
..”
What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean? What is the probability that these 64 students will spend a combined total of more th
what are stock rights? How does the issuing company account for them? Please explain the accounting requirements for stock compensation plans under GAAP
What contra account is used when recording and reporting the effects of depreciation? Why is it used?
“Billy’s father owns a controlling interest in Big Top Corporation. Billy needed $20,000 to pay
a gambling debt and the corporation made a loan to Billy at no interest for the $20,000. This
..”
see the attach Legacy issues $315,000 of 6%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $283,500 and their market rate is 9% a…
Need to figure out how to put entries into a general journal and then figure out what the annual per-share dividend was paid to common stockholders in 2010?
What is the difference between an opportunity cost and an outlay cost?
“the classical system of corporation tax is useful becouse it causes companies to retain more profit for investment purposes” discuss
“1.) What are the steps in the decision making process? Share experiences you may have in the decision-making process at your work.
) Customer demand is a major influence on operations the price”
Flagler Company allocates overhead based on machine hours. They estimated overhead costs for the year to be $420,000. Estimated machine hours were 50,000. Actual hours and costs for the year were 4
“April 1 Stockholders invested $40,000 cash in the business in exchange for common stock.
4 Purchased land costing $30,000 for cash.
8 Incurred advertising expense of $1,800 on account.
11 Paid sala”
“Which of the following statements is CORRECT?
If Firms X and Y have the same P/E ratios, then their market-to-book ratios must also be the same.
If Firms X and Y have the same net income, numb”
The following items for Titus Company are used to compute the cost of goods manufactured and the cost of goods sold. Indicate how each item should be used in the calculations by filling in the bla
“Bowles Sporting Inc. is prepared to report the following income statement (shown in thousands of dollars) for the year 2009.
Sales”
“which of the following debt service funds would normally have the largest balance in its fund balance account?
a)serial bond debt service fund
b)deferred serial bond debt service fund
c)irregular s”
“6.The review of a company’s financial statements by a CPA firm:
Is substantially less in scope of procedures than an audit
Requires detailed analysis of the major accounts
…”
It appears that the business cycle is becoming less volatile; how does that relate to long-term forecasting of historically cyclical stocks?
“Office Space (acct # 15500) – $ 70,000 (10 year tax life)
Land (acct #16900)- $ 30,000 (10 year tax life)
The Building and Land payments are to the same company”
“Entin Corporation reported the following data for the month of January:
inventories beginning
raw materials $32000
Work in pro”
Young coopers, and touché (YCT) is a tax services firm. The firm is located in San Diego and employs 10 professionals and eight staff. The firm does tax work for businesses and well to do individual….
Evaluate the evidence provided by Apollo Shoes. . . Decide how to structure the audit report for the provided evidence. . . Compose an audit reportthe appropriate length, sections, and content for th
A 2-3 page essay would suffice. There is no word limit.
“””Government vs. Corporate Financial Statements.”” Please respond to the following:
Compare and contrast the process used to read, interpret, and analyze corporate vs. government financial state…”
A business issued a 30-day, 4% note for $60,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording (a)the issuance of the note and (b)the payment o
16) The City of Springfield has three pension plans: a locally administered police plan for which it is trustee, a statewide cost sharing plan and a statewide agency plan. The city would include in it…
Are financial institutions the only organizations used to detect and combat money laundering activities? Name another organization that is used.
A is a shareholder in X co., an S corporation. In 2004, A’s share of X co.’s net operating loss is $20,000. On 12/31/04 A has a basis in his X co. stock of $15,000 before accounting for the net operat
Home Depot’s income before interest expense and income taxes was $5,909 million, and interest expense was $37 million. Calculate Home Depot’s times interest earned.
“Problem 16-1B
Kite Corporation, a merchandiser recently completed its calendar year 2005. For the year (1) all sales are credit sales (2) all credits to accounts receivable reflect cash receipts from”
Prepare the solution in excel for part a of problem 11-6A in the textbook. Submit using the assignments tool. The solution for part b should be prepared for study purposes. Student are NOT required to
Saul is single, under age 65, and has gross income of $50,000. His deductible expenses are as follows: Alimony $12,000 Charitable contributions 2,000 Contribution to a traditional IRA 5,000 Expenses p…
Newton Co. had installment sales of $1,000,000 and cost of installment sales of $700,000 in 2010. A 2010 sale resulted in a default in 2012, at which time the balance of the installment receivable was
“CHAPTER 3 /JACKSONVILLE FINANCIAL SERVICES CO,UNADJUSTED TRIAL BALANCE AT DECEMBER31,2010Week 3 Assignment Read the following scenario, and complete the form on the following worksheet: Jacksonville …
Which of the following statements is true regarding the cost of capital? Select all that apply: the cost of capital should consider the flotation costs. all other things being equal, it is prefera…
please read first sheet, then complete on the prepared forms in sheet 2, thanks
A recent accounting graduate evaluated the operating performance of Fane Company’s three divisions. The following presentation was made to Fane’s Board of Directors. During the presentation, the acc
“Dim Witt is the county commissioner of Clueless County. He decided to institute tolls for local ferry boat passengers. After the tolls had been in effect for four months, Astra Astute, county account…
“What is the primary reason we defer financial statement recognition of gross profits on intra-entity sales for goods that remain within the consolidated entity at year end?
A – Revenues and C”
If the business decides to make an accounting methods change, how is this accomplished?
“HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply:
HW is defending against a lawsuit and believ”
Peyton Company’s payroll for the year is $737,910. Of this amount, $472,120 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate in Peyton Company’s state is 2.9% on the fi…
“Which of the following accounts probably would not appear in a trial balance but probably would appear in an adjusted trial balance?
Accumulated Depreciation-Equipment
Cash
Depreciation”
“Notes to financial statements are beneficial in meeting the disclosure requirements of financial reporting. The notes should not be used to
Describe depreciation methods employed by the compa”
“When comparing corporate and individual taxation, the following statement is true: (Points : 5)
Unlike individual taxpayer, corporate may not have a long-term capital loss carryforward.”
Provide specific examples of accounting information that might be useful in assessing Michael Porter’s differentiation competitive strategy.
How do Sarbanes-Oxley, SEC, AICPA, FASB, and other regulations affect the company? How do these impact internal controls and the information technology systems of the company?
“The cash receipts journal will be used for
cash received from customers on account and cash sales.
all cash received.
only cash received from customers on account.
only cas”
This is an accounting Excel Worksheet. I need the Answers by Sunday at 11pm if possible with work shown. Check attachment for assignment! MGT 325 Module 6 Spreadsheet Exam Part A COMPREHENSIVE CHAPTER…
Determine the amount to be paid in full settlement of each of invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within
“What does a statement of cash flows tell us about the short and long term prospects of the firm? no word limit
“Does anyone have access to Management Accounting Fifth edition Author: Anthony A. Atkinson:Robert S. Kaplan:Ella Mae Matsumura:S. Mark Young
ISBN: 0136005314″
Felix Company has a $140,000 balance in Accounts Receivable and a $1,000 debit balance in Allowance for Doubtful Accounts. Credit sales for the period totaled $900,000. What is the amount of the bad d
“You asked:
“”1. Bond discount amortization.
On June 1, 2009, Everly Bottle Company sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of”
“2 The new managing director has expressed concern about the performance of certain ranges, and has asked for further information to enable him to consider plans for the coming year. In particular he i”
“13. Presented below are data for Antwerp Corp.
2012 2013
Assets, January 1 $2,600 $3,360
Liabilities, January 1 1,680 ?
Stockholders’ Equity, Jan. 1 ? ?
Dividends 560 420
Common Stock 504 …”
“Salt and Pepper Ltd
Set out below are extracts from the balance sheet (statement of financial position) and income statement of the above company
Salt and Pepper Ltd
Income statement for t”
Jernigan corporation, which uses the calendar year as its tax year, started business on December 1, 2008. Its gross receipts for 2009-2011 were $4,500,00, $4,900,000 and $6,000,000 respectively. Will
Yellowstone Company began operations on January 1 to produce a single product. It used a standard absorption costing system with a planned production volume of 100,000 units. During its first year of
Buerhle Company purchased (at a cost of $11,650) and used 2,380 pounds of materials during May. Buerhle’s standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5 per po
A reversing entry can be done in the new month, but as long as its placed on the journal in the beginning of the month, that whole month will show an inaccurate balance? then once the month end is cl
Bentley Company reported net income of $320,000 for the current year. Depreciation recorded on buildings and equipment amounted to $75,000 for the year. Balances of the current asset and current liab
i need the answer for the Glo-bright paint company whole project. JOURNAL Page 41 POST. DATE 20– Oct. DESCRIPTION 9 Payroll Cash Cash REF. DEBIT 12 11 9 Administrative Salaries Office Salaries Sales …
“One of your clients is an incorporated golf and tennis club, Clubs & Racquets, Inc. It is a private
club, and only members may use the facilities (although they may bring guests, pursuant to the
clu”
“when bonds are sold at a premium for a capital project, the premium amount generally
a)increases the cash available to the capital prjects fund
b)is transferred to the debt service fund
c)is trans”
EZ Rental Car offers rental cars in an off-airport location near a major tourist destination in Florida. Management would like to better understand the behavior of the company’s costs. One of those …
Attached Need before 12am third time submitting… Problem ( 60 points ) A company’s January 1 goods in process inventory contained 30,000 units that were 1/4 complete with respect to direct labor. Th…
What is your estimate of the intrinsic value of Home Depot’s stock as of February 1, 2001, assuming that it will have: (a) the same sales growth rate as in fiscal 2000 for the next fifteen years, (
If you have $1,150,000 in cash, how long will it take to accumulate to $2,000,000 at 5% interest?
Investments in debt and equity securities that the company actively manages and trades for profit are referred to as short-term investments in:
“Which of the following transactions will increase a corporation’s operating return on assets?
Sell stock and use the money to pay off some long term debt
Sell 10 year bonds and use…”
“The Audit Report and Internal Control Evaluation. This paper should be posted as a Microsoft® Word attachment in the Assignment Section and should adhere to APA formatting style.
Please note ther…”
Parker is a 100% shareholder of Johnson Corp. (an S corporation). At the beginning of 2011, Parker’s basis in his Johnson Corp. stock was $14,000. During 2011, Parker loaned $20,000 to Johnson Corp. a
“Discuss how the following transactions would fit into the accounting equation.
Fitness Solutions sold 1,250 of its $600 annual memberships to its fitness centers in 2006.
Fitness Solutions earned”
Malissa is an accountant. Sometimes printouts of financial statements have errors and are not usable. Malissa doesn’t like to waste anything, so she takes the unusable financial statements to her so
“All of the following factors can be associated with high levels of fraud except:
Answer
Lack of recognition of job performance
Top management that does not pay attention to appropriate behavior”
Kevin, Chuck, and Greg contributed assets to form KCG Partnership. Kevin contributed cash of $50,000 and a land basis of $80,000(fair market value of $50,000). Chuck contributed cash of $30,000 and
This is a 3 step problem which utilizes the information that is in the attachment. Either that or http://highered.mcgraw-hill.com/sites/dl/free/0073526819/388107/appendix_a_home_depot.pdf would work. …
“This is for Accounting utilizing Accounting for Decision Making and Control, 5th edition by Jerold L. Zimmerman
Formula 409
“”I used to run the company that made formula 409, the spray cleaner.Fr…”
“Inventory valuation methods determine the cost of goods sold and the inventory balance.
Explain how the cost method is applied
Provide an example of the application of this method
(Sho”
Winters Company uses a standard cost accounting system. During January the company reported the following manufacturing variances. Materials price variance $1,250 U Labor quantity variance $775 U Mate
“””1. Journalize the entries to record the following selected bond investment transactions for Southwest Bank:
Purchased for cash $400,000 of Daytona Beach 5% bonds at 100 plus accrued interest of $”
“True/False
A business taxpayer sells depreciable business property with an adjusted basis of $40,000 for $32,000. The taxpayer held the property for more than a year. The taxpayer has an $8,000″
It is my understanding that I must tie in the the Inventory Warehouse Report to Apollo’s Inventory Status Report. I must sample a number of unit costs from recent invoices and tie them to the Invent…
“Winston has the following account balances as of Feb. 1.
Inventory 600000
Land 500000
Building 900000 net value 1mil
Common Stock -800000 10 par value
retained Ear -1100000
Revenues”
during 2008, steele corporation sold merchandise costing $1,500,000 on an installment basis for $2,000. the cash receipts related to these sales were collected as follows: 2008, $800,000; 2009, $70000
“Fling Company has budgeted the following unit sales for 4 months in 2006:
April 21,000
May 24,000
June 31,000
July 30,000
Of the units budgeted, 40% are sold in t”
Sandra Sherman incorporates her apartment building. It has a basis of $50,000, a value of $150,000, is subject to a mortgage of $70,000 and has a depreciation recapture potential of $12,000. If San
“Select the three steps (place in proper order) that are used to solve a linear programming problem.
Compute the optimal solution
Determine the objective function
Implement the decision and”
Discuss the ramifications of not eliminating journal entries?
“Case p.161 S&S Air’s Mortgage
What are the monthly payments for a 30 year traditional mortgage?
What are the payments for a 20 year traditional mortgage?
Prepare an amortization table …”
“The accounting system of shoe city includes the following journals. indicate which journal is used to record each transaction.
Journals
Cash receipts journal
Cash payments journal
Purchases journa”
what is the irr and npv of 1,100,000, 1,450,000, 1,300,000, 950,000
Assuming the consumer is rational, how can utility affect their economic decisions? Does utility lead to more or less customer satisfaction? Why?
What are the differences between equity financing and debt financing? Please explain what a company should look for when deciding which type of financing to use.
Please read the week 6 quiz tips in the word doc attachment.
The Josetti partnership has total partners equity of $558,000, which is made up of Dopke, Capital, $392,000, and Hughes, Capital, $166,000. The partners share net income and loss in a ratio of 85% to
“Accounting
Non-current Liabilities (Bonds)
On 1 July 2007 Michael Ltd issued $1 million in five-year debentures that pay interest every six months at a coupon rate of 10 percent. At the time of”
“E8-6 The following information was taken from the annual manufacturing overhead cost budget of SooTech Company.
Variable manufacturing overhead costs $33,000
Fixed manufacturing overhe”
“Sorry for the misunderstanding. Are you going to answer my Homework Problem. I really need a solution for this immediately I have to turn it in today.
COMPREHENSIVE PROBLEM 1, PERIOD 2:
THE ACCO”
“S company issued $200,000 of 8% 5-years bonds on January 1, 20×6. the discount on issuance was $12,000. Bond interest is paid annually on December 31, 20×8, Pumice Company purchased one-half of the o
The net income for Dodson Co. for 2010 was $267,370. For 2010 depreciation on plant assets was $51,660, and the company incurred a loss on sale of plant assets of $24,320. Compute net cash provided b
Brenna corporation began 2010 with a $90000 balance in the deferred tax liability account.At the end of 2010 the related cumulative temporary difference amounts to $350000 and it will reverse evenly
“Need assistance calculating the NPV for the following scenario.
EEC expects to save $500,000 per year for the next 10 years by purchasing the supplier.
EEC’s cost of capital is 14%.
EEC believes”
“””””Lessee accounting—capital lease.
Eubank Company, as lessee, enters into a lease agreement on July 1, 2010, for equipment. The following data are relevant to the lease agreement:
The term of…”
“Lisali Company gathered the following information related to inventory that it owned on December 31, 2011:
Historical cost $ 100,000
Replacement cost 95,000
Net realiza”
“Which of the following ratios would best disclose effective management of working capital by a given firm relative to other firms in the same industry?
A high rate of financial leverage relat”
“Actual costing is a costing method that allocates ________ indirect costs.
Answer
a)estimated
b)actual
c)budgeted
d)predetermined”
16-17 Quentin Giordano owns a small retail ice cream parlor. He is considering expanding the business and has identifies two attractive alternatives. One involves purchasing a machine that would enabl…
“Auditors may use positive and/or negative forms of confirmation request for accounts receivable. An auditor most likely will use
the positive form to confirm all balances regardless of size
a”
I am suppose to fill out all 6 tabs of appendix G using the following information and instructions. Here are the instructions; a) journalize and post the July transactions. Use page J1 for the journal…
an insurance company is offering a new policy to its customers. typically the policy is bought by a parent/grandparent at the child’s birth. the purchase makes the following six payments to the insura…
“The following question involves federal taxation:
Dough Company signs a 10-year franchise agreement with Delicious Donuts. Delicious Donuts retained significant powers, rights, and a continuing”
Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March: March 1 Brooks invested $190,000 cash along with $21,000 of office equipment…
read the best buy report then answer the q in the word file , www.BestBuy.com NYSE symbol: BBY © 2008 Best Buy Co., Inc. Fiscal 2008 Annual Report | Best Buy Co., Inc. 7601 Penn Avenue South Richfie…
“Question 4
Lang Co. uses the percentage of receivables basis to record bad debts expense and concludes that 4% of accounts receivable will become uncollectible. Accounts receivable are $531,300 at”
The city of mcNeely sold bonds in the amount of $10,000,000 to finance the construction of a public health center. The bonds are serial bonds and were sold at par on july 1, 2008 the first day of the
“13) Proprietary funds utilize what basis of accounting?
Budgetary
Accrual
Modified accrual
Cash”
You are chief counsel to the Chairman of Joint Committee on Taxation, the body primarily responsible for identifying taxation issues and their consequences as Congress seeks to implement a comprehensi
47Whtheustantaboveysealarisewill a debush c saThardu
“The Lease Line
Leasing transactions represent a very significant portion of the capital investments of many companies. The accounting classification of these leases can have a dramatic impact on the”
A clothing manufacturer is considering dropping their product line of coats. What costs of the product line would be relevant to this decision? What costs would be irrelevant to the decision? What oth…
The E-Company manufactures trendy, high-quality moderately priced watches that it sells on the Internet. As the company’s senior financial analyst, you are asked to analyze the overall profitability f
“Assume the following cost information for Marie Company:
Selling price per unit $144
Variable costs per un”
“Determine McDonald’s Corp. revenues and, if possible, profits per employee.
Please provide references.”
This is an accounting problem, please make sure that you understands the problem before working on it. BYP2-4 Lisa Ortega is president of Ortega Riding Academy, Inc. The academy’s primary sources of…
2-61 CVP in a Modern Manufacturing Environment A division of Hewlett-Packard Company changed its production operations from one where a large labor force assembled electronic components to an automate…
Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. A) Compute 2010 depreciation expense
Hi, I am desperate and really need help. Class is over next week and I’m in danger of failing. Please help. There is a spreadsheet attached of all the accounts I need set up. Please help or let me kno…
Please find attached the work I need …we have a few weeks on this one too Unit 9 Managerial & Accounting Homework EXERCISE 12-11. Evaluating Investment Centers with Residual Income [LO 6] Lakesi…
“””For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers.
$400 for repairing damage that resulted”
13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separa…
“Case 9-3 The Superior Valve Division by Blocher, E., Stout, D., co*kins, G., & Chen, K. (2008). Cases and readings to accompany cost
management: 2007 custom edition (4th ed.). Boston: McGraw”
If you’re a lender to a small business, would you focus more on the short-term outlook of the company?
“Inventory costing methods place primary reliance on assumptions about the flow of
resale prices.
“
If Jethro wanted to save a set amount each month in order to buy a new pick-up truck when the new models are next available, which time value concept would be used to determine the monthly payment?
“A master budget is a detailed and comprehensive analysis of an organization¿s long- and short-term goals.
Identify the major inputs to the master budget and the usefulness of each.”
Gorham Manufacturing’s sales slumped badly in 2008. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 600,000 units of
“Preparing a master budget for a retail company with no beginning account balances.
Oversea Gifts Corporation begins business today, December 31, 2004. Sharon Ting, the president, is
trying to prep”
“Review the, “”What would you do in this situation?”” presented on page 3-8 of your text. What is your opinion of the client’s request?
You are a CPA with a medium-size accounting firm. One of yo…”
“Each of the following items must be considered in preparing a statement of cash flows for Cruz Fashions Inc. for the year ended December 31, 2010.
Fixed assets that had cost $20,000 61⁄2 years …”
“) Supler Company produces a part used in the manufacture of one of its products. The unit product cost is $18, computed as follows:
Direct materials $ 8
Direct labor 4
Variable manufacturi”
“1.
A personal statement of financial condition dated December 31, 2008, is to be prepared for Wilhelm Holz. He provides the following information for your use in preparing the statements. All amou”
Haniwall Industries has manufactured prefabricated houses for over 20 years. The houses are constructed in sections to be assembled on customers’ lots. Haniwall expanded into the precut housing market
15-4 Marlow Manufacturing Company’s standard price and cost data Sales Price $7.50 Variable manufacturing cost 3.00 per unit Fixed manufacturing costs 3,000 Fixed selling and administrative costs 1,…
“Which statement is false? (Points: 2)
Generic mining packages have given disappointing results.
Discovery sampling is an inductive approach.
Custom data mining is an inductive”
Ethan has $20,000 to invest today at an annual interest rate of 4%. Approximately how many years will it take before the investment grows to $40,500?
“1. The use of LIFO rather than FIFO for inventory costing under normal economic conditions results in:
lower net income.
higher total assets.
gher retained earnings. I
unchanged”
I only need the first three requirements done. Course Project #1 Overview Course Project #1 consists of two parts, A and B, respectively. There are 10 Requirements for you to complete in this exercise…
I have attached the page 617. All I need is #3 and #4. The Book value is $6,753,764. The sample size is 32. The Sampling interval (SI) is 211,055. But I still need help with the assignment with the qu…
“Par lnc. reported the following pretax income (loss) and related tax rates during the
years 2002-2008.
Pretax income (loss) Tax Rate
2002 $40,000 30%
2003 25,000 30%
2004 …”
Ok here it is again thanks. What is your policy if some of them turn out to be wrong? Answer:____________ Solution: Answer:_________ Solution: Answer:_____ Solution: Answer:______ Solution: Which Acco…
On January 1, 2020, Blue Company purchased P500,000 8% bonds, for P475,126 (including broker’s commission of P20,000). Interest is payable annually every December 31. The bonds mature on December 31, …
“5-38 Sale of Assets Received as a Gift and Inherited.
Daniel receives 400 shares of A&M Corporation stock from his aunt on May 20, 2009 as a gift when the stock has a $60,000 FMV. His aunt purchas”
“1. Gabruk Inc. is a merchandising company. Last month the company’s merchandise purchases totaled $88,000. The company’s beginning merchandise inventory was $15,000 and its ending merchandise inventor”
“9) An investment that costs $5,000 will produce annual cash flows of $2,000 for a period of 4 years. Given a desired rate of return of 10%, the investment will generate a present value index of
A”
Camtech, which expects to start operations on January 1, 2008, will sell digital cameras in shopping malls. Camtech has budgeted sales as indicated in the following table. The company expects a 10 per
I am not sure how/where to start on these questions. Exhibit 1 Selected product grades with production and financial data Product (Grade) Caliper Coated/Uncoated Slit Average Reels per Batch Material …
Do you agree with the concept of wealth transfer behind the transfer tax system? If you would fundamentally change it, how would you?
During the year, Loon Corporation has the following trancastions: $ 400,000 operation income, $355,000 operating expenses, $25,000 municipal bond interest, $ 60,000 long-term capital gain, and $ 95,00
“Case 13-1 – Standard Costing is Alive and Well at Parker Brass.
Case 13-1 – Hoof and Fin Restaurants
Case 14-1 – Bershire Toy Company
Case 14-2 The Mesa Corporation
Case 20-5: General Medic…”
“Based on information contained in the financial statement for pepsi AND coca cola dtermine the following for each company;
Net increase (decrease) in property, plant, and equipment (net) from 2004″
What steps do you take when instituting a Supply chain management forensic audit
“Please help with the following question:
Below is selected information from Drexel Co.
2002 2003
Net Operating Assets/ 37″
interest on a note can be calculated without knowledge of the a. notes maturity date b. rate of interest c. notes duration d. principal amount
Solve the following problems. When appropriate, show your calculations in good form. Unless specifically required, omit explanations for journal entries. Point allocations shown for each problem. Wolf…
Jen owns a sole proprietorship and Steve is the sole shareholder of a C (regular) corporation. Each business sustained a $14,000 operating loss and a $3,000 capital loss for the year. Evaluate how the
OK, “Nathan is a 10% partner and Ben is a 90% partner in a partnership that owns a piece of land with a tax basis of $50,000 and a value of $750,000. Nathan and Ben formed the partnership years ago. T
DPS Calculation Warr Corporation just paid a dividend of $1.50 a share (that is, Do = $1.50). The dividend is expected to grow 7 percent a year for the next 3 years and then at 5 percent a year therea
Attached pdf file of homework questions. If you can help, I have it due Tuesday at noon but I’d like to look it over Tuesday morning. Session 4 Problem 1 In 2011, three years after it began operations…
Question 4) Canyon Corp manufactures mountain bikes and distributes then through retail outlets in Colorado and Utah. Canyon Corp. has declare the following annual dividends over a six year period: 19…
“MC090
(Points: 5)
On January 1, 2007, Lex Co. sold goods to Eaton Company. Eaton signed a noninterest-bearing note requiring payment of $80,000 annually for seven years. The first payment was m”
I have attached the assignment. • Print Page • View Entire Thread • Close Window Week Five Individual Assignment: Lee Corporation Equity Scenario, Due Monday Day 7 1. Week Five Posted: Sat 09/11…
“Which of the following items are properly classified a part of factory overhead for Caterpillar?
Factory supplies used in the Morganton, North Carolina, engine parts plant
Amortization of pate”
“13-36 (Mt. Hood Furnitureâ��PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume
that you …”
A motel has 40 units. During the month of June, its average room rate is expected to be $80, and its room occupancy is 74%. In July, the owner is planning to raise room rates by 10%, and occupancy
“Which internal control principle is most important in a control system for handling cash receipts?
Physical controls.
Independent internal verification.
Segregation of duties.
“
“Depletion allowance.
Oates Company purchased for $5,600,000 a mine estimated to contain 2 million tons of ore. When the ore is completely extracted, it was expected that the land would be worth $200″
4) A donor pledged $100,000 to the fund raising drive of a local government to assist its police officers in obtaining the latest technology. The pledge was made on July 16, 2008 but was conditioned
“”” Expected return A stock’s returns have the following distribution:
Demand for the Probability of This Rate of Return If This
Company’s Products Demand Occurring Demand Occurs
Weak 0.1 (50 %)
…”
Justings Co. owned 80% of Evana Corp. During 2009, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000. In its accounting records, Justings should A. Not recognize …
Which type of inventory system will you use? Give your reason. (p.255)
When reviewing a financial report, why must information be reliable, relevant, consistent, and comparable?
hw 112) An income statement and balance sheet of Bowen Company are presented below. Additional information is also listed below. Plant assets were acquired for $47,000. Common stock was issued for $88…
After several years of a difficult marriage, Donald and Marla agreed to a divorce. As part of the property settlement, Marla transferred to Donald corporate stock, a commercial building, and a persona…
Production costs chargeable to the Finishing Department in June in Castilla Company are materials $19,100, labor $30,400, overhead $18,850. Equivalent units of production are materials 21,900 and conv
Franco and Elisa share income equally. During the current year the partnership net income was $40,000. Franco made withdrawals of $12,000 and Elisa made withdrawals of $17,000. At the beginning of the…
How can the management accountant can adopt TQM, JIT and MRP in the new manufacturing environment?
Please explain the work shown for the previous assignment that I had. The first 2 problems I was wondering if you could explain how you derived to your answer. Thank you.
“A note receivable due in 18 months is listed on the balance sheet under the caption
long-term liabilities
fixed assets
current assets
investments”
“41-The Securities and Exchange Commission has authority to
Require a change of auditors of governmental entities after a given period of years as a means of ensuring auditor independence.
Den”
attached B. Cates, V. Elder, and S. Nguyen have capital balances of $50,000, $40,000, and $32,000, respectively. Their income ratios are 5 : 3 : 2. Nguyen withdraws from the partnership under each of …
Ottawa Corporation owns machinery that cost $20,000 when purchased on January 1, 2007. Depreciation has been recorded at a rate of $2,400 per year, resulting in a balance in accumulated depreciation o
“I already answer the problems below but I need help to make sure if they are correct and if not if someone can help me please in finding out what the correct answer is.
Which of the following”
Stafford sold its 8% bonds with a maturity value of $1,000,000 on August 1, 1999 for $982,000. At the time of the sale the bonds had 5 years until they reached maturity. Interest on the bonds is pay
“11. Finding the WACC Given the following information for Morgan Co., find the WACC. Assume
the company’s tax rate is 35 percent.
Debt: 5,000 9.4 percent coupon bonds outstanding, $1,000 …”
How can a CFO effectively manage the credit programs?
“An AICPA committee in 1986 broke forensic accounting into two broad areas: investigative accounting and litigation support.
(Points: 2)
True
False
Consulting standards may app”
“I’m working on a project using Topps Company ,inc 2006 form 10-k.
stuck on the following questions:
what section to find increase/decrease insales and earnings? 2. How does Topps, Inc record acc”
15-2 Financial Statements under Various Theories of Equity Drake Company reported the following for 2008: Current assets $87,000 Current liabilities 19,000 Revenues 450,000 Cost of goods sold 220,000
On June 1, Mendoza Inc. issues 3,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (List m…
explain one way to establish your credit and one way to protect your credit? What are some things you can do to improve poor credit?
“During December, LP Products incurred the following costs:
Advertising Expense $10,000
General & Administrative Costs $9,000
Property Taxes on Factory”
Compute the price of $30,237,139 received for the bonds by using the tables of present value (Round to the nearest dollar.) Your total may vary slightly from the price given due to rounding difference
“Please help with this HW question
Feltzen CO. reports sales of $10,000,000 for 2002 with a gross profit margin of 40%. 20% of its sales are on credit.
2001 2002″
“””
Examples of opportunities for multinationals in Europe include:
the Single European Act.
the removal of the Berlin Wall.
All of the answers are corre”
“Question 1. Indicate whether each of the following variances is favorable or unfavorable. The first one has been done as an example.
Item to classify Standard Actual”
“Bonds with a face value of $400,000 were issued at 98. The entry to record the issuance will include a credit to the bonds payable account for:
a)$408,000
b)$392,000
c)$400,000
d)$398,000″
How can the allowance for doubtful accounts be used assess earnings?
“””The following information is available for Remmers Corporation for 2010.
Depreciation reported on the tax return exceeded depreciation reported on the income statement by””
$120,000″
“Apollo Shoes would like you to prepare a letter that explains how you plan to begin the audit process.
Include the following documents for the management at Apollo Shoes.
Engagement Letter
Engagem”
OK, “Mike, Seth and Bill form a partnership to develop and operate an internet web site. Seth and Bill invest $60,000 each; Mike has no capital to invest and instead agrees to supply his ideas and ser…
I have several other questions I can send it as a word document…the yellow is where the professor wants the answers typed….thanks…let me know what you can do… Sharon Ragusa 228-860-3328 Unit 2…
Can you please explain how they came up with $19,200 for the unexpected gain or loss on plan assets? BRGEXM6v00010000###########ª#######¹#######}### ######"$##v$##$##X %##################…
On January 1, 2012, Ann Price loaned $90,156 to Joe Kiger. A zero-interest-bearing note (face amount, $120,000) was exchanged solely for cash; no other rights or privileges were exchanged. The not
“1) CPA Co.’s budgeted sales and budgeted cost of sales for the coming year are $212,000,000 and $132,500,000, respectively. Short-term interest rates are expected to average 5%. If CPA could incre…”
I need help in determining the Breakeven, roi, residual income, and economic value added. I think I have the BE but need it checked. I did the ROI, again not sure if it is correct. But the residual in…
What is the balanced scorecard? What perspectives are considered in selecting performance measures for the balanced scorecard, and why is each of these perspectives important?
When a company acquires an affiliated company’s debt instruments from a third party, how is that gain or loss on extinguishment
Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay 1/3 of the sales price of a jet ski when they initially purchase the ski, and then pay another 1/3 each year
How can ABB help managers better control unused capacity?
Medieval Adventures Company was founded by Aaron Reinholz to produce a game marketed under the name “Castles and Unicorns.” Each “Castles and Unicorns” cost the company $35 to produce. In addition t
Harbottle Corporation was organized on January 3, 2011, with authorized capital of 100,000 shares of $10 par common stock. During 2011, Harbottle had the following transactions affecting stockholders
Salt and Pepper Ltd Set out below are extracts from the balance sheet (statement of financial position) and income statement of the above company Salt and Pepper Ltd Income statement for the year ende…
Explain whether or not the government has been successful in its oversight of accounting fraud and abuse.
Activity-based costing systems and traditional costing systems will produce the same results for product cost and profitability, although they use different methods of calculation. (Points : 1)
“Using the dollar-value LIFO retail method for inventory:
Is the same as dollar-value LIFO, except that the inventory is measured at retail, rather than at cost.
Combines retail LIFO accountin”
“under GASBS 34, combining financial statements would be prepared
a)for all nonmajor governmental funds
b)for all internal service funds
c)for each fund-type
d)a and b”
A manufacturer reported an inventory turnover ratio of 8.6 during 2007. During 2008, management introduced a new inventory control system that was expected to reduce average inventory levels by 25 per
William has decided to purchase a large apartment complex. He pays $100,000 cash, obtains a loan on the property for $500,000, and assumes the first mortgage balance of $250,000.
“2. Final Project: Evaluating Financial Health
Resources: Appendix A, Ch. 1 PowerPoint®, and Ch. 6 of Understanding Financial Statements
Write a 750- to 1,050-word paper evaluating the fin…”
What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? (Discuss any recent legislative changes)
Year 1 and Year 2 balance sheets of Warnick Co. appear below, together with an income statement for the latest year. Note: Stock in Bowen Co., held as a long-term investment, was sold for $8,000 cash….
attached At December 31, Penny Corporation has total stockholders’ equity of $5,500,000. There are no shares of preferred stock outstanding.At year-end, 250,000 shares of common stock are outstandin…
“Please Help with this HW question
John Corp. is unsuccessfully trading on the equity. Which of the following statement best reflects this?
Their market capitalization decreased by 4%
Stoc”
“What are the required financial statements for a pension trust fund?, What are the required supplementary information schedules?
,”
Its not as bad as it looks the questions start where indicated in blue. If I need to make additional payment, just let me know.
Shin Company has a loan agreement that provides it with cash today, and the company must pay $25,000 4 years from today. Shin agrees to a 6% interest rate. The present value factor for 4 periods, 6
Bob owns all 50 shares of Max Company, valued at $50,000. His friend, Lee, owns equipment worth $50,000. Lee’s adjusted basis in the equipment is $20,000. Lee transfers the equipment to Max Company …
“1) What is the rationale for Alternative Minimum Tax?
Why is it that many more people are subject to it now that were not intended to be subject to it before?”
ABC Company and XYZ company are identical firms in all respects except for their capital structure. ABC is all equity financed with $600,000 in stock. XYZ uses both stock and perpetual debt its stoc
under a plan of complete liquidation, jayhawk corporation distributed land, having an adjusted base of $26,000 to its sole shareholder. the land was subject to a liability of $38,000 which the shareho
“statement of cashflows: three examples” hbr case solution
“Accrued expenses:
are generally paid in services rather than cash
result from payment before services rendered
result from services received before payment
are deferred charges to ex”
Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulation depreciation of
Jarvis Golf Company sells a special putter for $20 each. In March, it sold 28,000 putters while manufacturing 30,000. There was no beginning inventory on March 1. Production information for March was:…
“Joe Quick and Jane Reddy are equal partners in the Quick and Reddy partnership. On the first day of the current taxable year, Joe’s adjusted basis in his partnership interest is $10,000 and Jane’s ad
“E18-16 (Installment-Sales Method and Cost-Recovery Method) On January 1, 2007, Barkly Company
sold property for $200,000. The note will be collected as follows: $100,000 in 2007, $60,000 in 2008, and”
Selecting a for-profit organization of interest, you will research an unusual or conflicting accounting principle that has impacted your chosen organization. The research will require you to present,
When auditing inventories of raw materials, purchased parts, and/or merchandise inventory, the auditor’s most effective means for evaluating the valuation assertion is to a. Examine recent invoices…
“Albany and Buffalo, and evaluates management on the basis of return on investment. Albany currently makes a part that it sells to both Buffalo and outsiders. Selected data follow.
Selling price to”
How are a subsidiary’s revenues and expenses reported on a consolidated income statement when the parent gains control within the current year (mid year)?
14) When deciding between two alternatives, the preferred alternative always has A. no opportunity costs. B. greater revenues than the other alternatives. C. less expense than the other alternatives. …
What are some of the technical skills needed for electronic evidence collection? Explain.
“Problem 18-17A Process cost system cost of production report
Hamby Company had 250 units of product in its work in process inventory at the beginning of the period
and started 2,000 additional units”
An approach to managing inventories and production operations such that units of materials and products are obtained and provided only as they are needed is called:A. Continuous improvement.B. Custome
“Incomplete Data
Blue Corporation acquired controlling ownership of Skyler Corporation on December 31, 20X3,
and a consolidated balance sheet was prepared immediately. Partial balance sheet data for”
Question 3) Abner and Daisy had capital balances of $120,000 and $180,000 respectively at the beginning of the fiscal year. The articles of partnership provide for salary allowances of $18,000 and 20,…
“(Ratio Analysis) The 2007 Annual Report of Eastman Kodak contains the following inforation.
(in millions) Dec 31st 2007 Dec 31 2006
Total assets 13659 14320
T”
I need a small article in you own words on “Managing your cashflow” about one page long
On January 1, 2010, Lynn Company borrows $2,000,000 from National Bank at 11% annual interest. In addition, Lynn is required to keep a compensatory balance of $200,000 on deposit at National Bank whic
What are the costs related to capacity in downturns or just misjudging demand and over-building our capacity?
“A.
The Watson Corporation, which produces and sells to wholesalers a highly successful line of water skis, has decided to diversify to stabilise sales throughout the year. The company is consideri”
What caused the change of Bank of America Corporation’s percentage of the accounts receivable balance to total assets for the last two years?
“26-20
The operational auditor’s independence is most likely to be compromised when the internal audit department is responsible directly to the
Vice President of Finance
President
…”
Your question: The balance in the Accrued Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000.
See Attached document. There was no place to enter the fee of $25.00? Intermediate Accounting II Chapter 5 Student: ___________________________________________________________________________ Iowa Dev…
“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 Ex”
Lanelle invests $130,000 cash along with office equipment valued at $31,200 in the business in exchange for its common stock.
“Cost-volume-profit analysis assumes all of the following EXCEPT:
total variable costs remain the same over the relevant range
units manufactured equal units sold
all costs are variable or”
if the cost of an item of inventory is $55, the current replacement cost is $50, and the selling price is $95, the amount included in inventory according to the lower of cost or market concept is
“Analyzing a balance sheet and measuring profitability.
com’s financial statements in Appendix A at the end of this book reveal some interesting relationships. Answer these questions about …”
“Convergence:
With the rapid growth of international capital markets and increased cross-border financing, the debate over convergence has intensified. Supporters of convergence reason that convergenc”
“9-19
“”Activity-based costing is just another inventory valuation method. It isn’t relevant for making operation decisions.”” Do you agree? Explain”
Kendra Company’s standard labor cost of producing one unit of Product DD is 4 hours at the rate of $14.88 per hour. During August, 40,800 hours of labor are incurred at a cost of $15.00 per hour to pr
I need help with the financial analysis problem for Nike company on p. 813 in Accouting Chapters 14-26 by Warren, Reeve, and Duchac 23rd edition which I have attached. And my teacher also gave us a li…
Now carefully read the following article: Costing in new enterprise environment: A challenge for managerial accounting researchers and practitioners Krishan M Gupta, A Gunasekaran. Managerial Auditing…
We want a flexible budget because costs are difficult to predict. We need the flexibility to change budgeted costs as input prices change.” Does a flexible budget serve this purpose?
Nye reported this audit finding to Rene Selma, the newly appointed controller of CE. A few days later Selma called Nye for his advice on what to do. Selma started her conversation by asking, “Can”t we
Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. A) Compute 2010 depreciation expense usi
“On January 2, 2008, two identical companies lease similar assets with the following characteristics.
The economic life is eight years
The term of the lease is five years
Lease payment o”
Zennia Company provides its employees with varying amount of vacation per year, depending on the length of employment. The estimated amount of the current year’s vacation cost is $165,000. The jou…
“Which one of the following is included in a firm’s market value but yet is
excluded from the firm’s accounting value?
real estate investment
good reputation of the company
equipment”
“Credit Company incurred the following costs in acquiring plant assets:
purchased land for a $50,000 down payment and signed a $100,000 note payable for the balance
delinquent property tax of $2,50″
“2. The Multijurisdictional Disclosure System negotiated between the SEC in the United States and Canadian regulators has proven the viability of the bilateral approach to harmonization.
TRUE OR FALSE”
“The opportunity cost of making a component part in a factory with excess capacity for which there is no alternative use is:
the variable manufacturing cost of the component.
the total manufact”
Timberland is considering manufacturing special crates to be used for shipping new mainframe computers. The company is working with a computer manufacturer who is thinking of using the new crates as a…
“Basic Cost Flow Model
Fill in the midding items for the following inventories:
A B C
Beginning Balance ? $7,100 $156,000
End”
“P11-3 (Depreciation—SYD, Act., SL, and DDB) The following data relate to the Plant Assets account of Eshkol, Inc. at December 31, 2010.
A B C D
Original Cost$46,000.00 $51,000.00 $80,000.00 80,0…”
“2. The following information concerns two business units within an organization:
Division A currently sells its product to outside parties at a price of $20 per unit. It incurs variable costs of $”
Here’s part of an exam that I have to take also. I provided tips from the instructor as well. I trust you can help me. COURSE HERO TUTOR PLEASE READ THIS WHOLE DOCUMENT. BELOW ARE TIP GIVEN TO THE CLA…
The following expenses were incurred by a merchandising business during the year. In which wxpense section of the income statement should each be reported (a) selling, (b) administrative, or (c) other
“. Lite Foot Shoe Wholesalers incurred the following costs related to its inventory during February:
Invoice from manufacturer for goods purchased $250,000
Cash discounts available and taken”
“Maverick Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Work in process, beg”
“14.The probability of a manufacturing defect in an aluminum beverage can is .00002. 100,000 cans are produced.
Required:
(a)Find the approximate probability of at least one defective can.
Proba”
“How would the declaration of a 15 percent stock dividend by Jets Corporation affect each of the following accounts on Jets’ balance sheet?
Retained Total Stock-
Earnings holders’ Equ”
“Gault Corporation had the following shares of stock outstanding on December 31, 20×8:
Common stock, $50 par value, 200,000 shares outstanding
Preferred stock, 8 percent, $100 par value, cumulative,”
(11) The accounting records of Oats Electronics show the following data. Beginning inventory 3,250 units at $6 Purchases 8,210 units at $8 Sales 9,270 units at $11 Determine cost of goods sold during …
Can someone help me with these multiple choice please? my assignment is due tonight at 11 pm EST. and my assignment is the attached document.
“Sherrod, Inc., reported pretax accounting income of $76 million for 2009. The following information relates to differences between pretax accounting income and taxable income:
Income from insta”
Why is there an option for lesser than $20 then? $20 is not a reasonable price to answer such easy questions. If $10 can not be taken, I will answer the questions myself or take my services elsewhere.
T/F The cash flow effect under FIFO and LIFO is the same unless you take into consideration the effect of income taxes. If false, please explain.
“(Dividends and Stockholders’ Equity Section)
Elizabeth Company reported the following amounts in the stockholders’ equity section of its December 31, 2010, balance sheet.
Preferred stock, 10%, $1″
On December 31, 2006, the stockholders’ equity section of Clark, Inc., was as below. On March 31, 2007, Clark declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the…
“4.
Ossmann Enterprises reports year-end information from 20X4 as follows:
Sales (80,000 units) $480,000
Cost of goods”
“5. (TCO 3) Why is it necessary to compute equivalent units separately for materials and conversion costs?
Mistakes are made in the accounting for these costs
Materials and conversion”
“When the carrying amount of an asset is not recoverable then a write-off must be recorded. The term “”impairment”” refers to the write-off for both standards.
True False”
“This is in Revenue Accounting-Governmental Funds
(Investment Income) Prepare the general journal entries to record the following transactions in the General Fund General Ledger of Alderman City:
“
Paul Crane, age 25, is single with no dependents and had an adjusted gross income of 30000 in 2005, exclusive of 2000 unemployment compensation benfits received in 2005. The amount of Crane’s unemplo
attached As an auditor for the CPA firm of Bunge and Dodd, you encounter the following situations in auditing different clients. 1. Desi Corporation is a closely held corporation whose stock is not pu…
“Precision Worldwide, Inc.
Harvard case study
Managerial Accounting
What action should Hans Thorborg take? and Why?”
On July 20, 2009 Matt (who files a joint return) purchased 3,000 shares of Orange Corporation stock (the stock is 1244 small business stock) for $24,000. On Nov. 10, 2010, Matt purchased an addtional
If you were using trend analysis to analyze the desirability of investing in a stock, how would the growing degree of competition affect your analysis? (Consider the automobile industry, in particular
Mary is self-employed for 2010. Mary estimated her required annual estimated tax payment for 2010 to be $4000. Mary had a $500 overpayment of last year’s taxes, which she will apply against her first
Brubeck Co. issued $10,000,000 of 30-year, 8% bonds on May 1 of the current year, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the ent…
“24. The ____________ rule is that an ethical decision is one that produces the greatest good for the greatest number of people.
Justice
Moral Rights
Utilitarian
Practical”
You are the director of a Washington, D.C. think tank focusing on tax and economic policy issues. You were recently (and informally) contacted by staff of the Congressional Joint Committee on Taxat
Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2008, for $562,613.This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1
“13-36 (Mt. Hood Furniture—PPS sampling problem)
You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have sepa…”
“1.
all public and private information.
Royal Petroleum Co. can buy a piece of equipment that can be financed with debt at a cost of 9 percent (after-tax) and common equity at a”
Conan O’Brien Logging and Lumber Company owns 4,000 acres of timberland on the north side of Mount Leno, which was purchased in 1998 at a cost of $650 per acre. In 2010, O’Brien began selectively logg
On April 1, 2009, BigBen Company acquired 30% of the shares of LittleTick, Inc. BigBen paid $100,000 for the investment, which is $40,000 more than 30% of the book value of LittleTick’s identifiable n
“18. If Company A has a high profit margin and Company B has a low profit margin, then return on assets
should be higher for Company A than Company B.
should be lower for Company A than Compa”
“multiple choice have three free questions for today
(TCO 10) Asset turnover is a measure of
how quickly a company is moving its inventory.
how quickly a company is turning it account”
“Problems:
Information related to Company ABC (British subsidiary) include the following:
British pound sterling (millions)
a) Net Sales 12,051
b) Gross Profit 4″
What happens when a U.S. company sells goods denominated in a foreign currency and the foreign currency appreciates?
“DESCRIPTION OF EVENTS OCCURRING January 1 -15, 2010
Date Description of Event
1 January 2, 2010 Employees are paid bi-monthly on the first day of the month for work …”
In March, 2012, Maley Mines Co. purchased a coal mine for $8,000,000. Removable coal is estimated at 1,500,000 tons. Maley is required to restore the land at an estimated cost of $960,000, and the
Here is a CPM network with activity times in weeks: a) Determine the critical path. b) How many weeks will the project take to complete? c) Suppose F could be shortened by two weeks and B by one we…
I need to take my midterm by Sunday, so I would like to submit this Saturday night if possible. There are mastery tests that I need to take after submitting these answers. FYI- the answers you give op…
“Bronson is a resident tenant with a 10 year written lease. In the absence of specific provisions in the lease to the contrary, which of the following statements is correct?
the premises may not”
Wicker Corporation operates a manufacturing plant in California. Due to a change in business climate, an impairment test is deemed appropriate. Management has acquired the following information for th
discuss the impotance of periodic reporting and the time period principle
“15. On January 2, 2012, Rapid Delivery Company traded in an old delivery truck for a newer model. The exchange lacked commercial substance. Data relative to the old and new trucks follow:
OLD TRUC”
“discuss the meaning of getting money.
a budget is just a means of getting money
never underexpend an appropriation-the more you spend, the more you get next year
budgeting is easy! you ju”
Cost incurred internally to create intangibles are?
Younger Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2008, at a cost of $168,000. Over its 4-year useful life, the bus is expected to be d
(Q6-3) Suppose you believe that the economy is just entering a recession. Your firm must raise capital immediately, and debt will be used. Should you borrow on a long-term or a short-term basis? W
“The standard cost card contains quantities and costs for _______. (Points: 1)
direct material only
direct labor only
direct material and direct labor only
direct”
P Corporation purchased an 80% interest in S Corporation on January 1, 2010, at book value for $300,000. S’s net income for 2010 was $90,000 and no dividends were declared. On May 1, 2010, P reduced…
Red Corporation had a temporary cash squeeze near its balance sheet date. It needed cash badly for a seasonal dip in sales. However, a loan covenant requiring a certain debt/equity ratio would be viol
Prior to recording adjusting entries, the Office Supplies account had a $359 debit balance. A physical count of the supplies showed $105 of unused supplies available. The required adjusting entry is:
Question 2-48, CVP and Financial Statements for a Mega-Brand Company, on p. 82 Question 2-61, CVP in a Modern Manufacturing Company, on p. 87 o EXCEL Application Exercise, CVP and Break-Even, on p. …
Should dividends paid to corporations be taxed differently than dividends paid to individuals? Why or why not?
“In the course of your examination of the books and records of Karen Company, you find the following data:
Salaries earned by employees in 2009 $61,000
Sal”
“1. Which of the following statements is true concerning an intercompany transfer of a depreciable asset?
Non-controlling interest in subsidiary’s net income is never affected by a gain on the tr…”
Any help would be great for questions 3-1A and 3-2A Thanks.
GASB 34 mandates that the government reconcile total governmental fund balnaces per the fund balance sheet with net assets of governmental activities per the government-wide statements. What are like
“When creating intangible assets under IFRS list the six criteria a company must demonstrate in order to avoid expensing cost incurred in the development phase.
1-
2-
3-
4-
5″
“13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume
that you have separ…”
“Sales
$598,000
Sales Returns and Allowances
20,000
Cost of Goods Sold
398,000
Selling Expense
69,000
Administrative Expense
25,000
Interest Expense
1″
“You asked:
“”Assignment Type: Individual Project Deliverable Length: 3 to 4 pages
Points Possible: 125 Due Date: 7/25/2010 11:59:59 PM CT
You have been asked to speak at a career fair for high”
“Sid’s home was destroyed by fire. He had purchased the home 18 months ago for $950,000.
He received $1,300,000 from his insurance company to replace the home. If he fails to rebuild the
home or ac…”
There were 5 questions submitted as an attachment Chapter 11 Homework submitted on Saturday, July 24th, with a deadline of today 5PM. I have received no answer or status of the answers and I am gettin
“Use the following to answer questions 21-24:
Information on the actual sales and inventory purchases of the Law Company for the first quarter follow:
Inventory
Sales Purchases
January $1″
“Wislon, Inc. has an inventory turnover rate of 15, an accounts payable period of 54 days and an accounts receivable period of 37 days. What is the length of the cash cycle?
-7.33 days
-2.00 d”
“Multiple choice – Accounting- have three free questions for today
Beaudreaux Motors is operating at its break-even point of 16,000 units. Which of the following statements is not true?
The”
The following data are available for the Megan Corp. finishing department for the current year. The department makes a single product that requires three hours of labor per unit of finished product. B
I have two problems that I cannot figure out. Can someone help me? Ch. 13 Help – 2 Problems 13-12) On the first day of its fiscal year, Ellis Company issued $12,000,000 of five-year, 10% bonds to fi…
department store has budgeted cost of sales of $36,000 for its men’s suits in March. Management also wants to have $15,000 of men’s suits in inventory at the end of March to prepare for the summer …
write three journal entries that would be used to record a capital lease. 2.difference/alike between subontracting, foreign licence, and franchising in the international marketing. 3. what advantag…
Koen Company consists of two divisions, C and D. In March, Koen Company reported a contribution margin of $50,000 for Division C. Division D had a contribution margin ratio of 30% and sales in Divisio
“On July 1, 20A, Wilson Company issued $300,000, five-year, 9% bonds at 103. The reason Wilson issued the bonds at a premium was
the stated rate of interest was higher than the rate being p”
“2. Job Inc. owns 20,000 shares of Nojob Company which it bought in 2005.
Nojob’s total stockholders’ equity is as follows:
Common stock, $20 par $500,000
Additional paid in capital 200″
“1) In the sellers’s records, the sale of merchandise on account would:
a)Increase assets and increase expenses
b)Increase assets and decrease liabilities
c)Increase assets and increase paid-in capi”
Assume the current ratio is 2 to 1. Payment on accrued salaries payable would cause the current ratio to
11) XYZ Manufacturing produces car parts. The company has a variable cost per unit of $100 and fixed costs of $100,000. The company sells each car part for about $125. Recently, the company is con
“The net present value method of capital budgeting assumes that cash flows are reinvested at:
the internal rate of return on the project.
the rate of return on the company’s debt.”
What is the current status of the Merger of GAAP and IFRS?
AAA Big Store is a regional retailer of toys and games. The average cost of goods sold is 45% of average selling price. The AAA Big Store has decided to offer it’s customers the lay-a-way option to pa
The financial accounting standards board (FASB) is currently reevaluating FASB Statement number 13, Accounting for leases. It has proposed eliminating the distinction between capital and operating lea
A company had net income of $450,000 in 2009 and $620,000 in 2010. The company had average total assets of $2,500,000 in 2009 and $3,000,000 in 2010. Calculate the return on total assets for 2009 a…
“have three free questions for today
multiple choice question
Common costs:
Are fixed costs that are not directly traceable to an individual product line.
Normally not avoidable.
Both”
Do managers have “control” over unused capacity? What are some ways to utilize unused capacity to our advantage?
Posson Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $210 per month plus $96 per job pl
“Problem C: 3-65:
Permtemp Corporation formed in 2008 and, for that year, reported the following book income statement and balance sheet, excluding the federal income tax expense, deferred tax assets”
“Review Exercise 6 at the end of Chapter 12, “”Revenue Forecasts, Revenue Estimates,
and Tax Expenditure Budgets,”” and write a three to four (3-4) page paper that addresses
the following questio…”
“Identify the advantages and disadvantages of bond financing.
Please 200 words”
“Comment on the appropriateness of the accounting procedures followed by Anderson, Inc.
Depreciation expense on the building for the year was $60,000. Because the building was increasing in value”
Airline has 3 co*ckpit positions, flight officer, co*ckpit, and pilot. It has been policy of requiring flight officers to advance to the post of pilot or be fired, a progression that takes about 10 to
“Activity Based Costing
To increase its share of the checking account market, Columbia City Bank in Seattle took two actions: it established a customer call center to respond to customer inquiries”
On January 1 of the current year, Sarah and Bart form an equal partnership. Sarah makes a cash contribution of $60,000 and a property contribution (adjusted basis of $160,000; fair market value of $1
E8-1(a)Culver Cheese Company has developed a new cheese slicer called Slim Slicer. The company plans to sell this slicer through its catalog which is issued monthly. Given market research, Culver beli
What are the advantages of using subsidiary ledgers?
Ladue, Inc. has used a decentralized form of organizational structure for the past five years. The controller, Ms. Trevino, has noticed that some of the divisions are still using fixed assets that are…
Charlie Co. owns 30% of the voting common stock of Turf Services Inc. Charlie uses the equity method to account for its investment. On January 1, 2011, the balance in the investment account was $624,0
Toma Nuptial Bakery makes very elaborate wedding cakes to order. The company has an activity-based costing system with three activity cost pools. The activity rate for the Size-Related activity cost p
“Which of the following budgets is used most frequently for administrative functions?
phased budget
zero-based budget
static budget
flexible”
Adams Brothers Outdoor Adventures currently owns a 12-passenger van that is used to transport clients to and from its outdoor adventure sites. The van was purchased 4 years ago at a cost of $20,000. A
“Comprehensive Problem. Heintz and Parry. College Accounting 19th Edition.
PERIOD 1
The Account Cycle
Bob night opened “”The general’s favorite Fishing Hole”” The fishing camp is open from April t”
sam and ann hoyt filed a joint federal income tax return for the year 2005. amon the hoyt’s cash receipts during 2005 was the following: 6,000 first installment on a 75,000 life insurance policy payab
“4. During 2011, Barry (who is single and has no children) earned a salary of $13,000. He is age 30. His earned income credit for the year is:
$0.
$50.
$414.
$464.
None of the above”
Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May
“7. A mail order company finds 18% of the purchases of a particular item are returned. The company estimates each return costs $0.70 in transportation and extra handling. What is the expected extra”
“Transfer pricing and outside opportunities
Deseronto Electronics manufactures motherboards for computers. The company is divided into two divisions: manufacturing and programming. The manufac”
Alpha Corporation had income from operations of $30,000. What is the corporation’s taxable income including the following property transactions? Gain on investment stock = $8,000; loss on machine…
“A segment of a business probably should be discontinued if:
a)its common costs exceed its contribution margin
b)its contribution margin exceeds its controllable fixed costs and its common costs
c)i”
“Bamboo Corporation has the
following income and expenses:
Gross income from operations $200,000
Expenses from operations (150,000)
Dividends received from
a 15%-owned domesti”
Delta company produces a single product. The cost of producing and selling a single unit of this product at the company normal activity of 60,000 units per year is: Direct materials $5.10 Direct labor…
“Barber Corporation purchased all the assets of TECO Corporation for $1,820,000. An
appraisal yielded the following: the building had a fair market value of $1,200,000;
equipment a value of $1,000,00″
(TCO 2) Bale Co. acquired Silo Inc. on October 1, 20X1, in a business combination transaction. Bale’s net income for the year was $1,400,000, while Silo had net income of $400,000 earned evenly dur
“The operating cycle of a merchandising company is ordinarily ___________________ that of a service firm.
the same as
shorter than
longer than
has fewer steps than
Thank you!”
“Which of the following is an example of a deferral?
Debit Interest Expense, credit Interest Payable
Debit Accounts Receivable, credit Legal Fees Earned
Debit Property Taxes Expense, cred”
“(Ignore income taxes in this problem.) Overland Company has gathered the following data on a proposed investment project:
Investment in depreciable equipment
$150,000
Annual cash”
On December 31, 2010, Albacore Company had 300,000 shares of common stock issued and outstanding. Albacore issued a 10% stock dividend on June 30, 2011. On September 30, 2011, 12,000 shares of com…
E8-1(a)Culver Cheese Company has developed a new cheese slicer called Slim Slicer. The company plans to sell this slicer through its catalog which is issued monthly. Given market research, Culver beli…
James, Keller, and Rivers have the following capital balances; $48,000, $70,000 and $90,000 respectively. Because of a cash shortage James invests an additional $12,000 on June 1st. Each partner wi
“Due: End of Sunday, Week #7
PROJECT #2-HORIZONTAL AND VERTICAL ANALYSIS-SOLUTION
Horizontal Horizontal
YUM! Brand, Inc.-Consolidated Statements of Income Vertical Vertical Analy”
From International Accounting: A user perspective by Shahrokh M Saudagaran CHAPTER 6—QUESTIONS TRUE/FALSE 1. The risks of investing in ECMs are associated almost exclusively with structural, politic…
Schillig & Gray Industries purchased a new machine at the beginning of 2011 for $9,500. The company expected the machine to last for four years and have a salvage value of $500. The produtive life of
Walsh Company sells inventory to its subsidiary, Fisher Company, at a profit during 2009. Walsh uses the equity method to account for its investment in Fisher. With regard to the intercompany sale, wh
“The trial balance of the General Fund of the city of Claire on January 1, 20X0, was as follows:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .”
“10. When determining the amount of depreciation to be used in the operations section, it is better the use the information from which area:
Balance sheet under the change in accumulated depreciati”
Why is a down-payment strongly recommended when purchasing a car or house?
“Following are selected accounts and their balances for a company after the adjustments as of May 31, the end of its fiscal year. (All accounts have normal balances.)
Prepare all the necessa”
What irregularities should a fraud examiner look for in the accounts payable area of a firm?
In 2006, Marion Company purchased land mineral mine $1,600,000, additional costs incurred was $600,000 to develop the mine. Geologist estimated $400,000 tons of ore would be extracted, resale value is
“A recent annual report of Kraft Foods, Inc., reveals the following information (dollar amounts are stated in millions):
Cost of goods sold $ 24,651
Inventory (beginning of …”
sorry about that, it should open now AC2760 Week 4 Assignment Wizard Services Co. offers security services to business clients. To Do: 1. 2. Complete the following end of period spreadsheet (work shee…
“The records of cooper,inc reflect the following data:
Work in process, beginning of month- $2,000 units half completed at a cost of $1,250 for materials, $675 for labor, and 950 for overhead
pro”
What is the return on assets and return on equity of Bank of America for the past two years?
I am so lost on this class,any help would be great Review test for ACG2021 Chapters 1-2-3 1. Prepare journal entries a. Owner contributed cash of 5000 and a truck worth 6000 into a business in exchang…
have three free questions for today and below is multiple choice 5. Equivalent units are calculated by 1. taking the units needed to complete the beginning inventory, adding units started and taking t…
Kern Company purchased bonds with a face amount of $400,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months
E3-14 The bookkeeper for Biggio Corporation made these errors in journalizing and posting. 1. A credit posting of $400 to Accounts Receivable was omitted. 2. A debit posting of $750 for Prepaid Insura…
Could I at least get answers to #s 8,10,11,15,18,20,21,23,28,31,32,33,36,34,38,39..or whatever you can within an hour? Thanks you!
“Debt securities that are accounted for at amortized cost, not fair value, are
Answer held-to-maturity debt securities.
available-for-sale debt securities.
never-sell debt securi”
The Herschel Candy Company produces a single product: a chocolate almond bar that sells for $.40 per bar. The variable coss for each bar (sugar, chocolate, almonds, wrapper, and labor) total $.25.
“The maintenance department of a manufacturing company is a(n)
segment
profit center
cost center
investment center”
On December 30, 2009, a bomb blast destroyed the bulk of the accounting records of the Horne Division, a small one-product manufacturing division that uses standard costs and flexible budgets. All var…
“# 2. In 2009 Margaret and John Murphy are married taxpayers who file a joint return with AGI of $25,000. During the year they incurred the following expenses:
Hospitalization insurance premiums”
“2. Using Ocean’s financial information, calculate relevant preliminary analytical procedures (e.g., ratio tests, and other financial statistics) to obtain a better understanding of the prospective cli”
“The Sun Company completed the following sales and cash receipts transactions during the first week of December. The Sun Company uses the periodic inventory system.
Use the sales journ”
I need these question answer completely or I will not get the credit thanks 1) If intangible assets are acquired for stock, how is the cost of the intangible determined? 2) Total payroll of Watson Co….
“Which of the following statements concerning the debit-credit feature of the accounting equation is correct?
Debits are entered on the right and credits are entered on the left.
A debit e”
“The adjusted trial balance of Gertz Company included the following selected accounts:
Debit
Credit
Sales
$575,000
Sales Returns and Allowances
$ 50,000
Sales Disco”
“1.Managerial Accounting; 3th Edition, Weygandt.Kimmel.Kieso
test bank – achievement tests
Accounting Principles 8th edition
Kimmel.Kieso
test bank – achievemnet tests
Do y”
On June 30, 2010, the Jacobs Company sold $800,000 of 11% face value bonds for $761,150.96. On December 31, 2010 the Jacobs Company sold $700,000 of this same bond issue for $734,645.28. The bonds wer
I am still awaiting the answer for this problem? I started asking several days ago? Just wondering if someone can help me or not. I pay for this service and now no one is helping me? Please explain
“Oceanside Realty Co. pays weekly salaries of $3,700 on Friday for a five-day week
ending on that day. What is the adjustment at the end of the accounting period,
assuming that the period ends (a) on”
“Individual Assignment: Lee Corporation Equity Scenario
Review the following information:
Lee Corporation, a U.S. company, began operations on January 1, 2004.
During its first 3 years of operati…”
“Home Depot, Inc in the new Millennium Case
What set of assumptions regarding Home Depot’s future growth rate, NOPAT margin, are consistent with its observed stock price of $48.20 on February 1, 2001?”
see the attachment 6. value: 15 points Ming Company began operations on January 1, 2008. During its first two years, the company completed a number of transactions involving sales on credit, accounts …
“Auditing questions:
Please answer the following multiple choice questions with explanation on why.
Thank you!
Which of the following is most likely to be considered a risk factor relati”
“My assignment is to review the attached business case study and answer the following questions:
Dakota Office Products Case Study
Why was Dakota’s existing pricing system inadequate for its…”
E3-31A (Learning Objectives 3, 5: Identifying and recording adjusting and closing entries) The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Drap…
On October 5, Lane Company buys merchandise on account from O’Brien Company. The selling price of the goods is $5,970, and the cost to O’Brien Company is $3,920. On October 8, Lane returns defecti
Mega Stampers has collected new data over the last three months for evaluation of their budgeting and cost computations. Their average production labor cost is $5,500.00 per month, the average raw mat
Can the accountant state his or her opinion about the law in an expert report? Why or why not?
“FIFO and LIFO inventory methods.
During June, the following changes in inventory item BSD took place:
Purchases
June 1 (balance) 3200 @ $3.10
June 6 3300 @ $3.20
June 24 3500 @”
“Can you show me this exercecise in excel with formula inside the cells:
Discount Rate is: 15%
Statement showing calculation of NPV:
Particular Time PVFactor Amount V
Cash outflow 0 1 810000″
I put the entire question on the attached excel. Thanks for help. Megan Corp. "The following data are available for the Megan Corp. finishing department for the current year. The department makes…
Ehrmann Data Systems is considering a project that has the following cash flow and WACC data. What is the project’s MIRR? Note that a project’s projected MIRR can be less than the WACC (and even negat
Carolina Clinic is considering investing in new heart monitoring equipment. It has two options: Option A would have an initial lower cost but would require a significant expenditure for rebuilding aft…
Caps Co. produces and sells bottle capping equipment for soft drink and spring water bottlers. To finance its operations, Caps Co. issued $20,000,000 of five-year, 9% bonds with interest payable semia
The following items apply to the appropriate use of present value tables. Given below are the present value factors for $1.00 discounted at 10% for one to five periods. Each of the items is based
see the attach The equity sections from Sierra Group’s 2009 and 2010 year-end balance sheets follow. Stockholders’ Equity (December 31, 2009) Common stock—$5 par value, 100,000 shares authorized…
which of the following is not a criterion used to allocate fixed cost? a)ability to bear costs b)equity c)fessible outcomes d)relative benefits 2. managers are correct when they perceive that almos…
____________ starts with estimated product costs and next determines the estimated selling price. Cost-plus pricing, Target costing, Kaizen costing, or Traditional costing
“Agnes is going to invest $90,000 in a business entity. She will manage the
business entity. Her projected share of the loss for the first year is $36,000.Agnes’ individual tax rate is 33%. Determin…”
“Will Company reports the following:
2009 2008
Retained Earnings $2,000,000 $ 1,300,000
Common Stock $ 500,000 $ 500,000
Paid-in Capital $3,000,000 $”
Beverly died during the current year. At the time of her death, her accrued salary and commissions totaled $2,000 and were paid to her husband. Beverly’s spouse collected her interest in the employe…
Engles Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $130,000 and will increase annual expenses by $80,000 including depreci
York Department Store does 50 percent of its business on credit and frequently has to tolerate slow-paying customers and those who simply do not pay. Now it would like to facilitate immediate cash pur…
“Dear Michael,
My apologies for confusing you again. I was in the rush to run to work. Thus, did not have enough time to post them one by one. I need a solution for all these questions. If you could h”
A business issued a 60-day, 7% note for $15,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording (a) the issuance of the note and (b) the payment
Need help on this trial balance 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 Accoun…
“Future, Inc. reported the following results for the year:
Net income per books $110,000
Federal income taxes 36,170
Life insurance proceeds on key employee 15,000
Tax-exempt in”
last try 2. Prepare adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense; Insurance Expensed; Interest Payable; and Supplies…
“Case 9-17
Linda Stanley and State University (Legacy Systems to an ERP) C£oC
Linda Stanley is the Vice President for Computing and Information Services at State
University (SU), a large, urban uni…”
should financing activities generate value? yes or no? explain?
“Marvin L. and Molly S. Hall are married and live at 310 Poplar Avenue, Fort Wayne,
IN 46802. They file a joint return and are calendar year, cash basis taxpayers.
Marvin is a self-employed clai”
Its beginning goods in process consisted of $60,830 of direct materials, $176,820 of direct labor, and $110,988 of factory overhead. During October, the company started 140,000 units and transferred 1…
ROWE POTTERY WORKS, INC. At the end of 1996, Rowe Pottery Works, Inc. (RPW) had been losing money for over two and a half years. This case challenges students to identify and evaluate alternatives tha…
“Identify a well-known consumer product company and hypothesize as to how it determines pricing for its product(s). Be specific in your response.””
No word limit or format. This is just a disscussio”
Flynn Inc. has two temporary differences at the end of 2012. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Flynn’s accountin…
Provide limitations of ROI that challenge its validity?
The cash account for Santiago Co. on May 31, 2009 indicated a balance of $15,515.00. The March bank statement indicated an ending balance of $20,245.00. Comparing the bank statement, the canceled chec
“The city of mcNeely sold bonds in the amount of $10,000,000 to finance the construction of a public health center. The bonds are serial bonds and were sold at par on july 1, 2008 the first day of the
“Exercise 9.5
Southern State University had the following account balances as of June 30,2012. Debits are not distinguished from credits, so assume all accounts have a “”normal”” balance:
Accounts Rec”
“An item that cost $90 is sold for $120. The gross profit ratio for this item is:
20%
25%
3%
60%”
An installment note payable for a principal amount of $48,000 at 6% interest requires Lawson Company to repay the principal and interest in equal annual payments of $11,395 beginning December 31, 2008
Lee Corporation is an American company that began operations on January 1, 2004. It has just completed its fourth full year of operations on December 31, 2007. Ending Year Balances for the prior year …
Here are the questions and the subject is regulation CPA: 1- Karen, a business owner, bought a warehouse receipt for goods worth $9,000 from Sonny, a merchant, for $7,500. The warehouse receipt was i…
“2. White Corporation (E&P of $300,000) has 5,000 shares of common stock outstanding. The shares are owned as follows:
Belinda Markey: 2,000 shares
Lucian Markey (Belinda’s son): 2,000 …”
Refer to the attachment. To complete this assignment, write your answer in a Microsoft Word document, being sure to include your name. Your answer must include your complete calculations and an explan…
“1 Which of the following is not one of the 5 questions of transaction analysis?
A What’s going on?
B Which accounts are affected?
C Is this an accrual?
D Does the balance sh”
Please help! The attached multiple choice questions are needed for a study guide! Herbart Company gathered the following information on power costs and factory machine usage for the last six months: M…
“INTEGRATED CASE APPLICATION — PINNACLE MANUFACTURING: PART VI
What is your conclusion about the fairness of the recorded balance in accounts payable for Pinnacle Manufacturing as it affects the …”
Transaction analysis results in the development of a journal entry. In the start-up of a business, the owner contributes $50,000 of cash. (1) Name the accounts impacted and how using the format accoun
Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 30,000 units. Company policy is to end each month with merchandise inventory equal to a specified …
Under its executive stock option plan, Q Corporation granted options on January 1, 2009, that permit executives to purchase 15 million of the company’s $1 par common shares within the next eight years
“Actual revenues are greater than budgeted for December, so our revenue variance is favorable.” Give an example of when this would be “good” news and when it could be “bad” news.
“Alpha First Company just began business and made the following four inventory purchases in June:
June 1 150 units $ 780
June 10 200 units 1,170
June 15 200 units 1,260
June 28 150 units 990
$4,20″
Define the terms “debit” and “credit”. Explain how debits and credits affect the following: assets, liabilities, owner’s capital account, revenues and expenses. (No word limit)
“Use the following information to solve the Questions 1 and 2 below:
—2002—
Total assets: $10,500
Short-term debt: 1,000
Long-term debt: 3,500
Minority interest: 500
Equity: 5,500
Oper”
Do you believe that fair value of award points would be directly observable in this industry? If not, what things might need to be considered to estimate the fair value of award points and redemption
A company purchased office supplies costing 3,000 and debited office supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,600 still on ha
“The City of Billsville has $8 million par value of general government, general obligation bonds payable
The city has decided to call those bonds at their call date. Record the following”
“How long do you need to answer this?
“”Williams Company’s direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials”
Tie the Inventory Warehouse Report to Apollo’s Inventory Status Report. Next, judgmentally sample a number of unit costs from recent invoices and tie them to the Inventory Status Report. If the numb…
“1.
(Points: 1)
The examination is open book. As a result, the examination is challenging. You may have to use the index in the textbook and search engines on the Web to research certain ter”
“Gage Corporation has two operating divisions in a semi autonomous organizational structure. Adams Division, located in the United States, produces a specialized electrical component that is an input
“Precision Worldwide, Inc.
Harvard case study
Managerial Accounting”
I need help with these cost acct. problems This first page left blank 9-16. Bills cabinets sells a product for 360 per unit. The company’s variable cost per unit i9s 60 dollars for DM, $50 per unit …
Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this …
Please complete the attached two questions… 1) Adjusted Trial Balance Eastwood Company Adjusted Trial Balance December 31, 2010 Assets Current Assets: Cash Accounts receivable Allowance for Doubtful…
“””McElroy Company has the follow portfolio of investment securities at 9/30/10 (its last reporting date):
Trading Securities Cost FV
Horton, common (5,000 shares) 215,000 200,000
Monty, common (3,50″
What are the advantages a firm gains by using auditing and assurance services? How might you use these advantages to promote the auditing and assurance division of a company from within?
“Logan Company is considering two projects, A and B. The following information has been gathered on these projects:
Project A Proj”
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
“1. The cash budget must be prepared before you can complete the:
production budget.
budgeted balance sheet.
raw materials purchases budget.
schedule of cash disbursem*nts.”
intuit inc. develops and sells software products for the personal finance market, including popular titles such as Quicken and turbo tax. Classify each of the following costs and expenses for the comp
Agnes is going to invest $90,000 in a business entity. She will manage the business entity. Her projected share of the loss for the first year is $36,000. Agnes’ marginal tax rate is 33%. Fully discus
“sales revenues of a utility for a certain fiscal period include:
are equivalent to total debits to Customer Accounts Receivable for that period.
Include receivables billed during a fiscal per”
A deferred tax liability does not have to be related to a transaction that has already occurred. T/F if false please explain
Is an increase in your bank statement a debit or a credit?
The reason for recording a prepaid expense as a current asset is?
Tom and Wendy were employed at Poolywhirl. Their job entailed working at great heights in a factory, protected by a safety net. This net had proven inadequate in the past, and when asked to walk on
The annual interest rate for a customer’s loan of $675 is 19.25%. What is the total dollar amount to be repaid on the loan, including principle and interest, for the entire year?
On January 2, Reddy Insurance Company issued Check 2108 tor $180 to establish a petty cash fund. Indicate how this transaction would be recorded in a cash payments journal.
I have three homework problems that I do not know what to do in accounting. I have attached the problems on a word document. Accounting Problems That Help Is Needed On 11-8) Heritage Products Inc., a …
“Standard and actual cost for direct materials for the manufacture of 1,000 units of product were as follows:
Actual costs 1,550 lbs. @ $9.10
Standard costs 1,600 lbs. @ $”
Problem 25-1 Problem 25-1 Greene Enterprises prepares monthly departmental reports in an effort to control its operating costs. Each department has a manager whom the report is addressed and who is he…
“Three Dog Bite Company:
Warranty claims $ 170,000
Product liability lawsuits 200,000
Rework costs 600,000
Quality training 505,000
Inspection of incoming materials 900,000
Statistica”
Tinker’s Toys had cost of goods sold in 2009 of $7,506 million and $7,646 million in 2008. Their merchandise inventory in 2009 was $1,884 million and $2,094 million in 2008. How long were their averag
“For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers.
$400 for repairing damage that resulted f”
Sunshine LLC sold furniture fore 75,000. Sunshine bought furniture for 90,000 several years ago and had claimed $25,000 of depreciation expense on the machine. What is the amount and character of Suns
) Ideally, which of the following type of assets should be financed with long-term financing? A. Fixed assets only B. Fixed assets and permanent current assets C. Fixed assets and temporary current as…
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Hernandez which has been an S corporation since inception, is subject to tax in States Y and Z. On schedule K of its federal form 1120S, Hernandez reported ordinary income of $500,000 from its busines
“PROBLEM 7-22B
Completing a Master Budget
(LO2, LO4, LO7, L08, LO9, LO10)
CHECK FIGURE
(2a) February purchases: $254,800
February ending cash balance: $30,400
Spektra Company, a home furnis”
“You own Widgets ‘R Us and are preparing your year-end financial statements.
What inventory system do you use and why? What are its advantages and disadvantages?
What activities should y…”
“This was the only information provided.
The 2006 Fain financial statements contain the following selected data (in millions).
Current assets $6,335 Interest expense $313
Total assets 13,323″
Pope Company acquired an 80% interest in the common stock of Simon Company for $1,540,000 on July 1, 2011. Simon Company’s stockholder’s equity on that date consisted of: Common Stock $800,000; Othe
Securities which could be classified as held-to-maturity are a. redeemable preferred stock. b. warrants. c. municipal bonds. d. treasury stock. 2. Unrealized holding gains or losses which are recog…
“ABC Company
ABC Company reports the following information for the most recent period when 2,750 units were produced.
Cost Standard Actual
Materials 2 lbs. @ $5.00 per pound 7,000 pounds pur”
The following data relate to the Plant Asset account of Planter Co., at December 31, 1999. Plant Asset A B C D Original cost ? $240,000 $25,000,000 $60,000 Year purchased Jan 1, 1992 Jan 1. 1998 ? Jan…
Statement of Financial Accounting Concepts No. 1, ” Objectives of Financial Reporting by Business Enterprises,” includes all of the following objectives, except one. Which objective does it not in…
“A local youth group was contacted to provide concessions to the public and
divide the profits with the Circular Club. The Auburn Circular Club Pro Rodeo
Roundup would be held on June 1, 2, and 3. Th”
“1. Under the temporal method, inventory at market would be restated at what rate?
Beginning of the year rate
Average rate
Current rate
Historical rate
A U.S. company sells mercha”
“Indicate which statement you would examine to find each of the following items: income statement (I), balance sheet (B), retained earnings statement (R), or statement of cash flows (C).
Reve”
“Danner Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2009.
Sales: Quarter …”
Gokey Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $5.10 per direct labor-hour. The company’s budgeted fixed manufacturing overhead is
Please see attached. I am ready to turn in my HW except I haven’t been able to figure this last problem out. Hope you can help. Thanks!!!! PROBLEM 17-4A Analyzing manufacturing cost accounts Dupont Fi…
“Timberland’s Overhead Allocation Problem
Background
Eastvaco recently purchased a pulp manufacturing company, Timberland, Inc., located in Columbia, South Carolina. Eastvaco’s management is …”
Inventory valuation methods allow management to select a method that best fits their business model. Given the following data, what is the value of the ending inventory as determined by the First in F
10) Each of the following is one of the four classes into which nonexchange transactions apply in accordance with GASB Statement No. 33 EXCEPT: A. mandatory exchange transactions B. voluntary nonexcha…
How does the basis calcuation of an S Corporation shareholder basis differ from a partner and a partnership?
ABN Company sold goods, receiving $10,000 in cash and $25,000 on credit. How much revenue should it record under the accrual basis of accounting?
“RATIOS AND FINANCIAL PLANNING AT S&S AIR, INC.
Chris Guthrie was recently hired by S&S Air, Inc., to assist the company with its financial planning, and to evaluate the company’s performance. Chris g”
if the firm has 460 million shares of stock outstanding, what is earnings per share for 2002?
“1) What is XBRL? Why is the SEC mandating its use by publicly traded organizations? What impact is XBRL likely to have on the accounting and financial services communities? Why?
Business Continuit”
“3. Research and experimentation expenditures can be:
Expensed when incurred.
Amortized over 60 or more months.
Either (a) or (b).
Neither (a) nor (b).”
Cianci Accounting Services had $100,000 in gross receipts for the year. It cost the company $35,000 to lease and operate its offices for the year. The company’s landlord gave the company a $100 monthl
“A company’s property records revealed the following information about its plant assets:
Machine Salvage Purchase Depreciation Method
No Cost Value Date and Estimated Life
$42,0″
I need to write a 200-300 word paper on the income statement of Eastman Kodak for the year 2004 which includes an analysis of indicators such as earnings per share, operating income, and comprehensiv
In 2009, Pulco acquired inventory from its 75%-owned subsidiary, Sulco, for $250,000. Sulco’s cost was $200,000. At 12/31/09, Pulco reported $40,000 of intercompany-acquired inventory in its balance s
“Problems:
Information related to Company ABC (British subsidiary) include the following:
British pound sterling (millions)
a) Net Sales 12,051
b) Gross Profit 4″
“1. Tools-N-Time has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Tools-N-Time used 3,100 pounds of materials at a total cost of $12,090.
Tools-N-Time?…”
Dale Company, which applies overhead at the rate of 190% of direct labor cost, began work on job no. 101 during June. The job was completed in July and sold during August, having accumulated direct ma…
During 2012, Noller Co. sold equipment that had cost $294,000 for $176,400. This resulted in a gain of $12,900. The balance in Accumulated Depreciation—Equipment was $975,000 on January 1, 2012,…
“11) Perrot Company has three divisions. For Perrot, a cost should be considered a direct cost if
it can be traced to a division in a cost-effective manner.
it is a fixed cost.
“
The chapter talks about Delphi Company reducing its other postretirement benefits by approximately $500 million because of a change in the law. The federal government will reimburse companies for pre
“As the cost driver activity level increases within the relevant rage
total fixed costs increase
fixed costs per unit decrease
total variable costs decrease
variable costs per unit decr”
“TABLE 5-3
AMANDA COMPANY had the following inventory transactions in August.
Beginning Balance as of Aug.1 200 @ $3.20
Transactions Through the month
Purchases 550 @ $3.10; 300 @ $3.30; 450 @ $3″
“8. Errors and irregularities are defined as intentional distortions of facts.
Errors Irregularities
A) No Yes
B) No No
C) Yes No
D) Yes Yes”
please briefly describe the bankruptcy sequence of events. What critical roles do CFOs play in each step?
For MeriDen Company, variable costs are 60% of sales, and fixed costs are $181,000. Management’s net income goal is $97,080. Compute the required sales needed to achieve management’s target net income
Help with my accounting assigment. Mini Case 1 Art Specialist Inc. Jefferson Jerome is interested in purchasing “Art Specialists Inc.”, an auction house. The company receives the right to sell art…
Under which of the following conditions would material flood damage be considered an extraordinary item for financial reporting purposes? A a. Only if floods in the geographical area are unusual in…
“Should we or if any what should be the jounal entry Cottonwood should record for following transaction:-
Cottonwood received an order from the Del Norte County Rodeo in Trinity, CA for $18,000 of r”
“Ch 10 P.2
Listed below are common terms associated with bonds
Bond certificate
Bond issue
Bond indenture
Unsecured bonds
Debenture bonds
Secured bonds
Term bonds
“
solutions for deloitte Case 10-3 Restructuring Costs
“2. The prescribed accounting treatment for stock dividends implicitly assumes that shareholders are fooled by “”small”” stock dividends and benefit by the market value of their additional shares. Explai”
“9-39
Choosing an activity-based costing system
Pickle motorcycles, inc. (PMI), manufatuers three motorcycle models: a cruising bike (Route 66), a street bike (Main Street), and a starter model (Alle”
A bond maturing in 7 years pays 8% on a $1,000 face value. However interest is paid semi-annually. If your required rate of return is 10%, what is the value of the bond? What is the value if the inter
Which of the following measures of performance encourages continued expansion by an investment center so long as it is able to earn a return in excess of the minimum required return on average operati
“Complete the Inventory audit section:
Just part 3 and 4 please.
Tie the Inventory Warehouse Report to Apollo’s Inventory Status Report supplied by Karina last week.
Next, judgmentall…”
“Budgetary Comparison Statement for the general fund of murphy county for the 20×8 fiscal year
nonprofit municipal accounting problem 3-3″
“The beginning balance of total assets was $720,000 and the ending balance was $730,000. The return on total assets is closest to:
4%
2%
8%
3%”
Need some help solving these few problems.I have attached a screen shot.
“Which of the following statements is CORRECT?
(Points: 3)
The best way to judge the effectiveness of a firm’s cash management procedures is to look at the ratio of its cash balances to its s”
Labor data for making one gallon of finished product in Asaki Company are as follows: (1) Price-hourly wage rate $15.00, payroll taxes $1.16, and fringe benefits $1.71. (2) Quantity-actual production
Edwards Auto Body uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours. During the current period, Job No. 337 was charged $425 in direct materials, $475 in dir
Bjerg Corporation incurred several costs Module 1 Exercises: Problem 1: Elder Company is a manufacturer of personal computers. Various costs and expenses associated with its operations are below. The …
Is 4PM OK for you? LAST NAME: _____________ FIRST NAME______________PUID_________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introduct…
“The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.
If Allowance for Doubtful Accounts has a de”
“PROBLEM 8-20A
Direct Materials and Direct Labor Variances; Computations from Incomplete Data
(LO2, LO3)
CHECK FIGURE
(1a) Actual cost: $7.90 per foot
(2a) Standard labor rate: $7.50 per hour”
This is urgent and I desperatley need help. Problem: Justify the current market price of the McDonald’s debt, if any using various capital valuation models. 450 words minimum. Resource: Financial Outc…
“with respect to records in a CPA’s possession, the Code of Professional Conduct provides that
an auditor may retain client records if fees due with respect to a completed engagement have not been”
“United Co. has the following account balances:
Cash $60,000, Accounts Receivable: $25,000, Allowances of Uncollectible Accounts $4,500, Inventory: $15,000, consisting 500 units at $30 per unit. All a”
Why is depreciation added to net income in determining net cash flows from operating activities?
“Click the link AICPA to go to the American Institute of Certified Public Accountants website to read about the Sarbanes Oxley Act of 2002 (SOX).
Also click on the Journal of Accountancy to read ad”
“Gain Sharing
Sakura Snack Company manufacturers a line of snack foods, such as cheese crackers, granola bars, and cookies. The production worders are part of a gain-sharing program that works”
“Which of these is not included in an employer’s payroll tax expense?
I.C.A. (social security) taxes
Federal unemployment taxes
State unemployment taxes
Federal income taxes”
19) A company has 2 service departments, Power and Maintenance and 2 production departments, Machining and Assembly. All costs are regarded as strictly variable. For September the following informatio
Canon Corporation has $600,000, 10%, 10-year convertible bonds that were sold at face value. The bonds are convertible into 20 shares of Canon $10 par value common stock for each $1,000 bond. On Decem
“Which of the following will likely result in a greater use of external financing?
Higher corporate profits and higher interest rates
Lower corporate profits and lower interest rat”
Loan A has the same original principal, interest rate, and payment amount as Loan B. However, Loan A is structured as an annuity due, while Loan B is structured as an ordinary annuity. The maturi
“problem 7-7 workpaper,cost method, comprehensive problem
405-406 in advanced accounting 4th ed
Parsons company acquired 90% of the outstanding stock of shea company on june 30, 2011, for $426,000″
Describe how accounts receivable arise and how they are accounted for, including the use of a subsidiary ledger and an allowance account.
A feeder organization is a tax-exempt organization whose purpose is to provide food to underprivileged children. A. A feeder organization is a division of a tax-exempt organization and it is not su…
“Instructions
Journalize and post the July transactions. Use page J1 for the journal.
Prepare a trial balance at July 31 on a worksheet.
Enter the following adjustments on the worksheet,”
Cristin is an new controller at Solequin Corp. She was asked to develop the predetermined overhead rate for the upcoming year. The accuracy of the rate is important because it is used throughout the
“Al and Amy file a joint return for the 2007 tax year. Their adjusted gross income is $80,000. They had net investment income of $9,000. In 2007, they had the following interest expenses:
Personal cr”
“• Statement of cash flows (indirect method).
The following information is taken from Miller Corporation’s financial statements:
December 31
2010 2009
Cash $90,000 $ 27,000
Accounts receivab…”
“1.) If the indirect method is used, which of the following would be added to net income to arrive at net cash flows from operating activities?
Answer
Increase in Accounts Receivable
Inc”
“The following is a pre-closing trial balance for sun city’s general fund as of June 30,2009:
Debit Credit
Cash 116″
I am in desperate need of solution help for the Grady corp practice set
A major software company has established customer service centers in India, Ireland, and Israel to provide support to its U.S. customers with foreign operations. The prices that the company charges f
“Question 1 (2 points)
Which of the following is not treated as a change in accounting principle? A) A change from LIFO to FIFO for inventory valuation
A change to a different method o”
question- Health Central Hospital is interested in analyzing overhead related to laundry services. The hospital administrator estimated that monthly fixed costs would be $80,000 and variable costs wou
“Andy is trying to decide which one of two job offers he will accept. Several items are presented below:
Job Offer A Job Offer B
(1) Base salary $50,000 $50,000
(2) Overtime compensati”
Explain the main differences between the absorption and contribution (behavioral, variable) income statements. Will net income always be the same under the two approaches? If not, explain the differen
Conlin Company acquires a delivery truck at a cost of $42,000.The truck is expected to have a salvage value of $6,000 at the end of its 4-year useful life. Compute annual depreciation for the first an
At July 31 EIdman Company has this bank information: cash balance per bank $8,100; outstanding checks $719; deposits in transit $1,257; and a bank service charge $52. Determine the adjusted cash ba…
A balanced scorecard consists of an integrated set of performance measures that are derived from and support the company’s strategy throughout the organization. Since each company’s strategy and o…
Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate for social security is 6.2% and the FICA tax rate for Medicare is 1.45%.
Doug Maltbee formed a lawn service business as a summer job. To start the business on May 1, he deposited $1,000 in a new bank account in the name of the proprietorship. The $1,000 consisted of a $600
“14. LO.1 (Predetermined OH rate) Langston Automotive Accessories applies overhead
using a combined rate for fi xed and variable overhead. Th e rate is 250 percent of direct
labor cost. During the fi”
“””You own Widgets ‘R Us and are preparing your year-end financial statements.
There is no information about the company. This is how the assignment question was worded.
What inventory syste…”
“E7-9
(Installment-Sales Method and Cost-Recovery Method)
On January 1, 2008, Barkley Company sold property for $200,000. The sale price will be collected as follows:”
“5. A project has an initial requirement of $310,000 for fixed assets and $62,000 for net working capital. The project sits on a parcel of land purchased 8 years ago for $392,000. At that time, the fir”
Celine Dion Corporation purchases a patent from Salmon Company on January 1, 2010, for $54,000. The patent has a remaining legal life of 16years. Celine Dion Corporation feels the patent will be use
To complete this assignment, write your answer in a Microsoft Word document, being sure to include your name. Your answer must include your complete calculations and an explanation that is concise and
“6. A small loan company finds 12% of its loans are defaulted for an average of 20% of the loan value. What is the expected percent of default for all their loans?”
Stone Co. owns 4,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2007, Maye earns $120,000 and pays cash dividends of $40,000. Stone should report investment revenue for 2007 o
“Use the following information to solve the Questions 1 and 2 below:
—2002—
Total assets: $10,500
Short-term debt: 1,000
Long-term debt: 3,500
Minority interest: 500
Equity: 5,500
Oper”
If fixed costs are $490,000, the unit selling price is $35, and the unit variable costs are $20, what is the break-even sales (units) if fixed costs are reduced by $40,000?
In 2007, singer, Inc. issued for $103 per share, 40,000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into three shares of Singer’s $25 par val…
“(Lower-of-Cost-or-Market)
Sedato Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.
Item No. Quantity Cost per Unit Cost to Replac”
“Variance analysis receives some criticism as a performance measure. What about other measures such as ROI and EVA?
Do research on the Internet and show the reference for the information.”
A company using a periodic inventory system neglected to record a purchase of merchandise on account at year-end. This merchandise was omitted from the year-end physical count. How will these errors a
“The controller for Yi Company wants to maximize the gross margin (gross profit) for the year, without violating any GAAP. Which of the following would accomplish this?
Defer paying suppliers unti”
The Corbit Corp. sold merchandise for cash, $7,200. The cost of the merchandise sold was $3,950. The journal entry(s) to record this transaction would be 1. Cash 7,200 Sales 7,200 Cost of Merchandise
“Vid-saver, Inc. Has five activity cost pools and two products (a budget tape rewinder and a deluxe tape rewinder). Information is presented below:
Activity Cost Pool,Cost Driver,Est. Overhead,Budget,”
“4. Compare the unit cost on a random sample of 100 vendor’s invoices with catalogs or other price lists and investigate any with a difference of more than 3%.
Identify whether the above audit pro…”
Wild Wood Company’s management asks you to prepare its master budget using the following information. The budget is to cover the months of April, May, and June of 2011. Wild Wood Company Balance Sheet…
“””1.
(Points: 1)
The cash budget must be prepared before you can complete the:
production budget.
budgeted balance sheet.
raw materials purchases budget.
schedule of cash disburseme”
If a loss of $31,000 is incurred in selling (for cash) office equipment having a book value of $100,000, the total amount reported in the cash flows from investing activities section of the statement
For several years, a number of Food Lion, Inc., grocery stores were unprofitable. The company closed, and continues to close, some of these locations. It is apparent that the company will not be able
The following are specific transaction-related audit objectives applied to the audit of cash disbursem*nts ( a through f), management assertions (1 through 7), and general transaction-related audit ob
“Access Edgar online. Go to sec.gov then go to Whole Market Foods. Access the 10-K filing for the most recent fiscal year. Scroll to find the financial statement.
Calculate what cost of sales woul”
“Number 11 on page 524
Residual Dividend Policy Worthington Corporation has declared an annual dividend of $0.90
per share. For the year just ended, earnings were $6.50 per share.
“
Which of the following budgetary approaches starts with line-item expenditures and applies a factor approximating the inflation rate to most items, unless specific information is available to suggest
“12. A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. What is interest expen”
“2. Describe the effect of a distribution in a year when the distributing corporation has any of the following:
A deficit in accumulated E&P and a positive amount in current E&P
A positive a”
“When converting an income statement from a cash basis to an accrual basis, which of the following is incorrect?
an adjustment for depreciation reduces the net income
an adjustment for bad de”
“The City of Happy Valley records the following property tax transactions. Prepare the journal entries.
Property taxes of $10,000,000 are levied and 5% are estimated to be uncollectible.
“
“Which of these situations would require auditors to append an explanatory paragraph about consistency to an otherwise unqualified opinion?
Entity changed its estimated allowance for uncollectible”
“(b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on
September 1, 2007 (rather than in 2006), and none have been converted or redeemed.”
“selected accounts and balances for the three months ended March 31, 2010, for Success System follow.
January 1 beginning inventory ….$ 0
Cost of goods sold….14,052
March 31 ending inventory..”
“1. Which of the following would be classified as a general revenue?
Parking meter fees.
Special assessment charges for snow removal.
Library fines.
Fuel taxes earmarked for maintenanc”
“XYZ Company has $20,000 of dividends in arrears. Based on this information, which of the following statements is false?
Dividends in arrears are not considered to be liabilities.
An obligation”
“Derrick Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 6%, compounded annually. (Hint: Use tables in text.)
(a)If Lee plans to establi”
“Material and labor variance
Consider the following data for a manufacturing company
direct material Direct L
Actual price per unit of input 80″
“Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a 700-1050-word letter that explains how you plan to begin th
The Xerox DocuColor iGen3 digital production press is a high volume, on-demand, full-color printer capable of producing up to 6,000 impressions (pages) per hour. It weighs nearly 3 tons, stretches 30
“If, after the audit release date, auditors determine that an important auditing procedure was omitted, which of the following initial courses of action is most appropriate?
Perform the omitted pro”
“If the entry is:
DR office supplies expense
CR accrued expenses
What is the reversing entry,”
12-22 (Objective 12-5) The following are audit procedures taken from the CPA firm’s audit program for acquisitions and cash disbursem*nts: 1. Foot the list of accounts payable and trace the balance …
Storm Corporation purchased a new machine on October 31, 2010. A $1,200 down payment was made and three monthly installments of $3,600 each are to be made beginning on November 30, 2010. The cash pric
Chin, Inc., a calendar-year corporation, acquires 70% of Daniels Company on September 1, 2009 and an additional 10% on April 1, 2010. Total annual amortization of $6,000 relates to the first acquisiti
“The following is a pre-closing trial balance for Sun City’s General Fund as of June 30, 2011:
What is the fund balance as of June 30, 2011, after all closing entries have been made? Show you”
Moss,Inc. uses the accrual method of accounting for financial reporting purposes and appropriately uses the installment method of accounting for income tax purposes. It will collect $250,000 of instal
There are two basic ways to ‘adjust’ a company’s bottom line. One is to fake the revenue and the other is to fake the expense. As for revenue, what is the benefit of determining that a cash basis taxp
A company has a process that results in 15,000 pounds of Product X that can be sold for $8 per pound. An alternative would be to process Product X further at a cost of $100,000 and then sell it for $
“In 2009 Firm D paid 50,000 cash to purchase a tangible asset. In 2009 and 2010 it deducted $3,140 and $7,200 deprecation with respect to the asset. The marginal tax rate in both years was 35%.
Compu”
THE POSSIBLE INHERENT CONFILCT BETWEEN THE PUBLIC AUDITOR AND THE CFO. What is each role responsible for–and to whom. What could be the inherent conflicts and how would they be mitigated. What are th…
“Here are two questions that I will like you to answer, each question only requires one to two paragraphs.
Question 1
The key to successful business operations is effective inventory management. Do y”
Manning Company has the following items: write-down of inventories, $360,000; loss on disposal of Sports Division, $555,000; and loss due to strike, $339,000. Ignoring income taxes, what total amount
Sadler Clothiers manufactures women’s business suits. The company uses a standard cost accounting system. In March 2010, 15,700 suits were made. The following standard and actual cost data applied…
“Part I:
How can activity based manageme nt and activity based costing (ABC) benefit an organization? Specifically, address the following points.
How does ABC differ from other allocation methods”
On December 31, 2010, Dow Steel Corporation had 680,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 6% common st
“A friend of yours has heard you are studying stockholders’ equity and needs your help in understanding some characteristics of a corporation. Explain each of these to him/her.
Separate l…”
“3. Calculate Cost of Goods Sold for the following two companies:
: CARVER LTD. PEMBROKE, INC
Beginning Inventory:
Merchandise ……………… $250,000 $550,000
Finished Good ……”
“Investment in equity securities.
Agee Corp. acquired a 25% interest in Trent Co. on January 1, 2010, for $500,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outst”
“14. Blue Fin Co. produces a product requiring 10 pounds of material at $1.50 per pound. Blue Fin produced 10,000 units of this product during 2009 resulting in a $30,000 unfavorable materials quantity”
Please respond by word E22-19 Preparing a financial budget Consider the following June actual ending balances and July 31,2012, budgeted Oleans.com: a. b. c. d. e. f. g. h. i. j. k. l. m. June 30 inve…
“Find the latest 10k of Domino’s Pizza and please answer the following: a) Compute the debt-to-asset ratio for the last two years and explain its meaning. How did the debt position change over the la”
“Chapter 21 Discussion Question 6
Block Inc., a calendar year general contractor, and Strauss Inc., a development corporation with a July 31 year-end, formed the equal SB LLC on January 1 of the curre”
Will a partnership under state law be taxed as a partnership under Internal Revenue Code?
“3. Trading equity securities.
Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2010:
Cost Fair Value
5,000 shares of Thomas Corp., Common $1″
“6) All of the following is likely to be recorded in a special revenue fund EXCEPT:
state motor fuel tax restricted to road maintenance
phone fees restricted to supporting the emergen”
Leah transfers equipment (basis of 400,000 and fair market value of 500,000) for additional stock in Crow Corporation.
What is the amount of depreciation, using the double-declining-balance method, for the third year of use for equipment costing $9,000, with an estimated residual value of $600 and an estimated life of
What is the value of the accounting function in your organization, both internally and externally?
, assume that you are preparing a seminar on cost-volume-profit ‘CVP’ analysis for non-accountants. Several potential attendees have approached you and have asked why they should be interested in lear
.I’m just a student and have very limited budget. you worked for me in the past(not too long ago actually). I got 92% correct answers. thanks for that. If I’m not wrong I think I paid you about $4…
Miley Equipment Company sells computers for $1,500 each and also gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective parts. During 201
“Cash received and recorded as a liability before revenue is earned is called:
an accrued revenue.
an unearned revenue.
an unrecorded revenue.
None of the above is correct.
T”
“Which of the following statements associated with traditional overhead allocation is true?
1)A traditional overhead allocation method is the most accurate in automated environments with diver”
“Items on a bank reconciliation
Assume that a company is preparing a bank reconciliation for June. it reconciles the bank balance and the book balance to the correct balance. for each of the following”
“1)Prepare materiality memo 1/4/2011 p48/146
2)Prepare planning impact 1/6/2011 p50/146
3)Prepare Cash AWP p66/146
4)Prepare AR AWP p73/146
5)Prepare Payroll AWP p123/146
6)Prepare Inventory AWP p”
Washington Financing Inc. purchased a packing machine to lease to Puyallup fruits. The lease qualifies as a direct financing lease and requires lease payments of $80,000 per year, payable in advance,
Assume the same facts as in the previous question. Assume further that Carolina and Stephen had no dependents in 2009 (i.e., they will only claim an exemption for themselves). What is the deduction
Internal controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the seven internal control procedures and (2) provide ex
“Earnings based on percent of holdings by outside owners of consolidated subsidiaries are termed
Equity earnings
Earnings of subsidaries
Investment income
Minority earning”
“(Purchase of Computer with Zero-Interest-Bearing Debt) Napoleon Corporation purchased a computer on December 31, 2009, for $130,000, paying $30,000 down and agreeing to pay the balance in five equal
Jenni’s Music Store borrowed $12,000 from the bank signing a 9%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial …
How do the provisions of SFAS No. 123(R) differ from the bill introduced by members of Congress (Dreier and Eshoo), which would require expensing for options issued to only the top five officers in a …
“P. 7-8 Winterton Group
7-23 Reed Park Inc
8-6 Joint Products, Inc.
8-12 WWWeb Marketing
8-19 Ferguson Metal
Accounting for Decision Making and Control”””
On 1 July 2009, Engineering Ltd purchased land $1,200,000 and buildings $500,000. The estimated useful life of the buildings was 40 years, with a residual value of nil. On 1 October 2009, machinery wa
Golden Gloves Corporation manufactures and sells boxing equipment. Recent marketing activity causes a 20% increase in sales volume. What is the impact on fixed cost per unit and total variable cost?
A trade acceptance usually. A.Is not regarded as a negotiable instrument under the UCC. B.Must be made payable “to the order of” a named person. C.Is an order to deliver goods to a named person. D…
“$350,000 capital investment proposal has an estimated life of four years and no residual value. The estimated net cash flows are as follows:
Year
Net Cash Flow
Year
Net Cash”
In preparing the statement of cash flows, determining the net increase or decrease in cash requires the use of: A.the current period’s retained earnings statement.B.a comparative balance sheet.C.a com
For some reason, even after reading the proper chapters, I still have NO CLUE where to start on this problem and it’s a decent chunk of my grade (10%). Any help? In the solution, the calculations an
“1. Which one of the following is a characteristic of a business combination that should be accounted for as a purchase?
The combination must involve the exchange of equity securities only.
The”
Please show or state how u solved the answers. You can reply inside the word document. Thank you.
“Assuming a bottom-up process of budget development, which of the following should be initially responsible for developing sales estimates?
The budget committee.
The accounting department.
“
Swift Drug Company is being sued this year for a wrongful death due to violation of FDA rules. There is no doubt that Swift is guilty and the settlement is reasonably estimable at $10 billion payable
Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy, I
PROBLEM #4 (25 points) The following information is budgeted for Nutmeg Plumbing Supply: July Sales $110,000 Unit demand 40,000 Merchandise purchases $ 85,000 Selling/Admin expenses $ 50,000 August Se…
Ray, Ronnie, and Joe are partners in a limited partnership. Ray and Ronnie, the limited partners, each own 45% of the partnership, and Joe, the general partner, owns the other 10%. The partnership
“Can you just hightlight the appropriate answers please? It’s all multiple choice, I’d super appreciate it.
For the year ended May 31, Year 5, Cooper, Inc. had per-share earnings of $4.80. Coop”
How do fixed costs behave per unit and in total when there are changes in volume?
“The following are some of the costs incurred by Cupcake Company. Identify them as either:
Prime Costs
Conversion Costs
Both prime and conversion costs
Neither prime or conversion cos”
Kip is Lulu’s agent and is authorized to write checks on Lulu’s account in Metro Bank. Kip writes a check “pay to the order of Nemo.” Kip signs the check “Lulu, by Kip, agent.” If Metro Ba…
“Go to the Federal Reserve’s Web site to examine historical monthly interest rates on 10-year government bonds at http://www.federalreserve.gov/releases/h15/data/Monthly/H15_TCMNOM_Y10.txt
(Histo…”
Generally accepted accounting principles( GAAP) assist the development of management accounting systems.” Do you agree? Please explain.
“Yankee Company has the following securities in its portfolio of trading equity securities on December 31, 2010:
Cost Fair Value
5,000 shares of Thomas Corp.,”
“Use the following information to solve the Questions 1, 2, and 3 below:
The treasurer of Simmons Corporation, a newly formed software company, is trying to ascertain Simmons’s cash flows for the n”
41-if the auditor obtains satisfaction with respect to the accounts receivable balance by alternative procedures because it is impracticable to confirm accounts receivable, the auditor’s report shou…
Bright Co. holds Park Co.?s $20,000, 120 day, 9% note. The entry made by Bright Co. when the note is collected, assuming no interest has previously been accrued is:
On January 1, 2008, Nobel Corporation acquired machinery at a cost of $600,000. Nobel adopted the straight-line method of depreciation for this machine and had been recording depreciation over an est
Precision Worldwide, Inc. Harvard case study Managerial Accounting What action should Hans Thorborg take? and Why?
“Comprehensive Case: Chapter 4
True North Consultants Ltd. commenced operations on January 1, 2009. In order to keep on top of its accounting, True North plans to record and adjust its accounts mon”
“Additional Revenue
Whitely Avard, plastic surgeon, had just returned from conference during which she learned of a new surgical procedure for removing wrinkles around the eyes, reducing the time”
Acme Fireworks uses a traditional overhead allocation based on direct labor hours. For the current year overhead is estimated at $1,000,000 and direct labor hours are budgeted at 200,000 hours. Actual…
“13-54 Overhead Accounting for Control and for Product Costing
The pickle department of a major food manufacturer has an overhead rate of $5 per direct-labor hour,
based on expected variable overhead”
“10.2 Computing Regular Earnings, Overtime Earnings and Gross Pay
During one week four production employees of Mason Manufacturing Company worked the hours shown below. All these employees receive ove”
“The AICPA sets standards and rules for the CPA profession in five major areas, of these five which is the most important and why?
has to be 200-300 words
hint-the 5 major areas AICP has authority”
Carol owns a small curio shop that is incorporated as an S corporation. Her three children, Sara, age 16, Mark, age 19, and Corey, age 22, all help in the shop. Which of the children’s wages are …
On January 1, 2008, Nobel Corporation acquired machinery at a cost of $600,000. Nobel adopted the straight-line method of depreciation for this machine and had been recording depreciation over an est
paige candy company offers a coffee mug as a premium for every purchase for every ten 50-cent candy bar wrappers presented by customers together with $1.00. the purchase price of each mug to the compa
A company paid $500,000 for 12% bonds with a par value of $500,000. The bonds pay 6% interest semiannually on September 1 and March 1. The company intends to hold the bonds until they mature. Prepare
Peters Co. repairs computers. On feburary 9, 1991, Stark Electronic Corp sold Peters a circuit tester on credit. Peters executed an installment note for the purchase price, a security agreement cove
“Describe the disclosure requirements for investments in debt and equity securities.
no word limit required”
As you discuss the tax-free sale with Emily and Richard, you present several accounting methods for the acquisition—cost basis, equity basis, or consolidated basis. In your presentation, include the…
“Shandy Shutters has the following inventory information.
1
Inventory
15 units @
$8.00
8
Purchase
60 units @
$8.60
17
Purchase”
A company owns a piece of land that originally cost $10,000 and has a fair market value of $8,000. It is exchanged along with $5,000 cash for another piece of land having a fair value of $13,000. The
For 2010, Omaha Mechanical has a monthly overhead cost formula of $42,900 + $6 per direct labor hour. The firm’s 2010 expected annual capacity is 78,000 direct labor hours, to be incurred evenly each
Burt, CPA, issued an unqualified opinion on the financial statements of Midwest Corp. These financial statements were included in Midwest’s annual report, and Form 10-K was filed with the SEC. As a …
Anderson Department Stores is considering the replacement of the existing elevator system at its downtown store. A new system has been proposed that runs faster than the existing system, experiences
“Please help
A company has a goal of earning $100,000 in after-tax income. The company must pay $28,000 in income tax if it achieves the goal. The contribution margin ratio is 30%. What dollar amou”
I can work out c.Maybe journal entries have something wrong but i can figure out..want to know the answer of all. LAST NAME: _____________ FIRST NAME______________PUID_________________ Please write yo…
“Bell Company acquires 80% of Demers Company for $500,000 on January 1, 2009. Demers reported common stock of $300,000 and retained earnings of $200,000 on that date. Equipment was undervalued by $30,
Mitchell Company uses a flexible budget for overhead based on direct labor hours (DLH). Master budget figures, based on 900,000 direct labor hours, and actual overhead for March, when 88,000 labor hou
“please help I have exam after a few hrs.
Compute the present value of the following single amounts to be received at the end of the specified period at the given interest rate.
Invested”
We need help in writing a • Memo on Revenue Cycle Problems. We need to write a memo identifying and explaining the significance of the qualitative features indicated by these deviations. 1. If the c…
“Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows.
NORDSTROM, INC.
Balance Sheet (partial)”
“Cost benefit analysisis just nonsense on stilts. Discuss this view with particular emphasis on the relevance of CBA to the personnel specialist.
No more than 2 pages thank you”
What should a business consider before electing to change its tax status?
(Computation of Bond Liability) Lance Armstrong Inc. manufactures cycling equipment. Recently the vice president of operations of the company has requested construction of a new plant to meet the incr
“I JUST NEED HELP WITH LETTER E.
Coil Welding Corporation sells and services pipe welding equipment in California. The following selected accounts appear in the ledger of coil welding corporation”
On Dec 31 prior to adjustment, Allowance for Doubtful Accounts has a credit balance of 400. An aging analysis of the accounts receivable produses an estimate of 2000 of probable losses from uncollecti
I:6-42 Timing of Expense Recognition. Solutions Corporation, a computer vendor and consulting company, uses the accrual method of accounting. Its tax year is the calendar year. The following are three…
E9-9 Twyla Enterprises uses a word processing computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up w
“BE1-8 Use the basic accounting equation to answer these questions.
The liabilities of Cummings Company are $90,000 and the stockholders’ equity is $230,000. What is the amount of Cummings C”
“Which of the following is not considered listed property for purposes of determining the taxpayer’s depreciation deduction?
A computer used exclusively by the taxpayer in managing his investment p”
Answers to Klooster & Allen’s Bath Design Practice Set.
Your client, Harper Company, has a contractual commitment as a part of a bond indenture to manitain a current ratio of . If the ratio falls below that level on the balance sheet date, the entire bond
True or False? If the costs for direct materials, direct labor, and factory overhead were $522,200, $82,700, and $45,300, respectively, for 16,000 equivalent units of production, the conversion cost p
Now prepare a journal entry to reverse that entry. Remember that a proper journal entry had a date, accounts, amounts and explanations. You can type it up on Word or on Excel – whatever is convenient …
see the attach Pardee Co. pays its employees each week. Its employees’ gross pay is subject to these taxes. Tax FICA— Social Security FICA— Medicare FUTA SUTA Rate Applied To 6.20% First $102,00…
“The Complete Accounting Cycle
The post-closing trial balance of Joan Robin Editing as of December 31, 2009 is shown below.
JOAN ROBIN EDITING
Trial Balance
December 31, 2009
Account Title
Debit”
What set of assumptions regarding Home Depot’s future growth rate, return on equity, and cost of equity are consistent with its observed stock price of $48.20 on February 1, 2001?
GASB standards require that depreciation be reported on all capital assets except
“16-47 (Selecting the Proper Audit Opinion and Report Modification)
Required
Audit situations 1 through 8 present various independent factual situations an auditor
might encounter in conducting an a”
HOTEL HAS ANNUAL FIXED COSTS APPLICABLE TO ROOM OF $9.2 MILLION FOR ITS 600 ROOM HOTEL AVERAGE DAILY ROOM RATES OF $105 AND AVERAGE VARIABLE COST OF $25 DAILY FOR EACH ROOM RENTED. OPERATES 365 DAYS
Thomas Corporation began business by issuing $2,000 of common stock on January 1, 2010. The business performed $8,000 of service on account in 2010 and collected $6,000 of this amount by year end. It
“10. Which of the following is true regarding the reporting of investments by state and local governmental units?
Investments, for which a determinable fair value can be obtained, are to be report”
“Which of the following are considered secondary characteristics of accounting information?
verifiability and feedback value
predictive value and timeliness
comparability”
“o Exercise E4-2
Exercise E4-3
Exercise E4-4″
“The net changes in the balance sheet accounts of Eusey, Inc. for the year 2011 are shown below:
Account Debit Credit
Cash $ 105600
Accounts receivable $ 64,000
Allowance for dou”
canyon realty co pays weekly salaries of $12,000 on friday for a five day week ending on that day. what is the adjustment at the end of the accounting period, assuming that the period ends (a)on tuesd
A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the end of the month. Eq
I can’t figure this out can you help me Question: P4-2 (Single-Step Income), Retained Earnings, Periodic Inventory) Presented below is the trial balance of Thompson Corporation at December 31, 2012. T…
“Operating lease.
Maris Co. purchased a machine on January 1, 2011, for $1,000,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be dep”
In April 2007 of this year, Emma acquired a machine for $50,000 for use in her business. The machine is classified as 7-year property. Emma makes no elections with regard to the property. Emma’s …
“Which of the following will be disclosed in the reconciliation of retained earnings?
net income / net loss
adjustment for an error of a prior period
dividends
all of the an”
The following information is available for Eusey Company for the month of January: expected cash receipts $57,195; expected cash disbursem*nts $66,586; cash balance on January 1, $12,240. Management w
On June 1, Kirby, Inc. issued $600,000, 6% bonds for 587,640, which includes accrued interest
“There are various budgets within the master budget. One of these budgets is the production budget. Which of the following BEST describes the production budget?
It details the required direct labo”
do u have an answer for Fargo publishing case 13-2 accounting information systems
“6) Albright Motors is expected to pay a year end dividend of $3 a share (D1=$3). The stock currrently sells for $30 a share. The required (and expected) rate of return on the stock is 16%.
If the di”
“E16-20 (EPS with Convertible Bonds, Various Situations) In 2006 Chirac Enterprises issued, at par,
60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues of $17,50″
“I need to Write up a 3 Column Cash Book of the Transactions below in excel:
June 1 Bal brought forward :
Cash in Hand : $5000
Cash at Bank : $ 90,000
June 2 Received Cash loan of $25 ,000″
see the attach Summary information from the financial statements of two companies competing in the same industry follows: Karto Bryan Karto Company Company Company Data from the current yearData from …
Applegate Company has a normal budgeted capacity of 200 machine hours. They produced 600 units. Each unit requires a standard .2 machine hours to complete. The standard fixed O/H rate is $12/hour, det
“If a city acquires a new office building under a capital lease agreement,
1)The cost of the building should be recorded in___
2)The “”cost”” of the building is computed as __
3)A governmental fund sh”
“The variable cost per unit as the number of sales increase. (Fill in the blank question)
decreases
changes
remains constant
increases”
“Indicate whether each of the following costs of an airplane manufacturer would be classified as directed materials costs, direct labor cost, or factory overhead cost:
Controls for flight deck
b)”
Responsibility for sales volume variance Holbrook Company expected to sell 400,000 of its pagers during 2006. It set the standard sales price for the pager at $30 each. During June, it became obvious …
“Following are selected accounts for Green Corporation and Vega Company as of December 31, 2013. Several of Green’s accounts have been omitted.
Green acquired 100% of Vega on January 1, 2009, by i”
Parking Space Inc. distributed $18,000 to Speedways Inc., a 15 percent shareholder. Parking Space’s E&P applicable to Speedways’ distribution is $5,000 and Speedways had a basis in its stock of $7,000
The net income reported on the income statement for the current year was $210,000. Depreciation recorded on equipment and a building amounted to $62,500 for the year. Balances of the current liability
“Data:
Initial investment $121,500
Increase in working capital $28,500
Length of investment 10 years
Salvage value $12,500
Before tax annual cash inflows $44,000
Tax rate 40%
Discount rate 15%”
450-500 words…Discuss the differences between static and flexible budgets and how a flexible budget lends itself to a cost-volume-profit analysis.
Only need help with constructing a monthly cash budget for the clinic for the period January through June 2006 on the spread sheet.
Please see attachment BUSI1002R_Introduction to Accounting_Ch.5_Questions P.1 BUSI1002R_Introduction to Accounting_Ch.5_Questions P.2 Problem 5-3A Preparing adjusting entries and income statements; an…
The ledger of Ley Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $58,000, and Salaries Expense $25,000. Adjusting entries are required for (a) expired in…
Bookkeeping differs from accounting in that bookkeeping primarily involves which part of the accounting process?
“WorldCom: The Final Catalyst on pp. 114-118
Describe the mechanisms that WorldCom’s management used to transfer profit from other time periods to inflate the current period.
How should WorldCo”
“1. Discuss the computation of percentage depletion.
Faith inherits an undivided interest in a parcel of land from her father on February 15, 2005. Her father had purchased the land on Aug”
Assistance please with attached problem. 9-48 Productivity In early 20X1, United Communications, a U.S.-based international telephone communications company, purchased the controlling interest in Buch…
“At December 31, 2010, Burr Corporation owes $500,000 on a note payable due February 15, 2011. (If answer is zero, please enter 0, do not leave any fields blank.)
If Burr refinances the obligati”
Projects S and L both have an initial cost of $10,000, followed by a series of positive cash inflows. Project S’s undiscounted net cash flows total to $20,000, while L’s total undiscounted flows are $
“On August 1, 2010, Dambro Co acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds will
be added to Dambro’s available for sale portfolio. The bonds were dated May 1, 2010,”
Please see below problem, thanks. Print by: EVRINE JAMESWALTERS Financial Accounting / ACC557 CH05 HW P5-2A Olaf Distributing Company completed the following merchandising transactions in the month …
Power Switch Inc, had a flood distroy it’s accounting records and inventroy, Numbers Given: 1st quarter materials purchased: $476,000, direct labor: $505,000, Manfacturing overhead:$245,000 Total Mauf…
“The situation that requires a departure from the cost basis of accounting to the lower of cost or market basis in valuing inventory is necessitated by:
a decline in the value of the inventory.”
“Joe started a new business this year. He had purchased a computer two years ago for $4,000
and decided to use it in his business until he could afford a new system. He could purchase a
new computer”
Need the problems solved to Chapter 9 Exercise 9.3 (HSM 260)
“Ethics, Management Compensations, and Treasury Stocks
C 8
Compensation of senior management is often tied to earnings per share or return on equity. Treasury stock purchases have a favorable impact”
In the current year, Stephanie formed an equal partnership with Jane. Stephanie contributed land with an adjusted basis of $250,000 and a fair market value of $350,000. Stephanie also contributed $1
Please solve those MC. ACCOUNTING 203 ONLINE EXAM #4 (CHS. 22,23) 150 PTS. Please highlight your answers in yellow. 1. An unfavorable materials quantity variance would occur if A) more materials wer…
Starting with net income and adjusting it for items that affected reported net income but which did not affect cash is called the: A.indirect method.B.working capital method.C.cost-benefit method.D.di
SUBSTANCE OVER TIME IS A RECIPE FOR FALLING TO ACHIEVE COMPARABILITY BETWEEN ACCOUNTING STATEMENTS FOR DIFFERENT BUSINESSES. DISCUSS
Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A & B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4, A6, B1, & B2 of Financial
“Problem: Determining sales and variable cost volume variances
Todhunter Publications established the following standard price and costs for a hardcover picture book that the company produces.
St”
The cost of goods sold in March 2010 for Targé Co. was $2,644,100. March 31 Work in Process Inventory was 25 percent of the March 1 Work in Process Inventory. Overhead was 225 percent of direct labor…
“Matt Industries manufactures toys. Matt uses a job order cost system. The time tickets from September jobs are summarized below.
Job 100 $3,500
Job 101 1,800
Job 102 1,200
Job 103 2,800
F”
on january 1, 2004 kate products issued ten year convertible bonds of $1800000 at 105. interest es payable semiannually on june 30 abd dicember 31 at a rate of 12%. straight-line amortization is recor
“A project will require an initial investment of $600,000 and is expected to generate the following cash flows:
Year1 Year2 Year3 Year4 Year5
$100,000 $250,000 $250,000 $200,000 $100,000″
Cost benefit analysis is just “nonsense on silts”. Discuss this view with particular emphasis on the relevance of CBA to the personnel specialist. No more than 2 pages thank you
Montgomery & Co., a well established law firm, provided 500 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink’s $5 par common stock. Mitchell’s usual billing rate is $700 per
This is the second part of the payment $15 + $20 = $35
“Chapter 5: Problem I: 5-34 Basis of PropertyReceived as a Gift
Doug receives a duplex as a gift from his uncle. The uncle’s basis for the duplex and land is $90,000. At the time of the gift, the …”
Use electronic libraries/databases to assess a current event and compose a 5-paragraph essay (APA format) to identify a minimum of 3 economic concepts and/or theories from this course (properly cite a
“goods a company acquires to use in making products are called ?
A)Cost of goods sold
B)Raw materials inventory
C)Finished goods inventory
D)Goods in process inventory
E)Conversion costs”
What are some things that a company could do to leverage the workforce in becoming engaged in the fighting of fraud and abuse?”
winston industries and ewing inc enter into an agreement that requires ewing unc to build three diesel electric engines to winstons specifications. Upon completion of the engines winston has agreed to
“Complete the Inventory audit section:
Write the inventory memo based upon yours and Bradley’s observation.
Tie in Bradley’s test counts on the client’s count sheets to Apollo’s …”
A company’s income before interest expense and income taxes in 2008 and 2009 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company’s times inte
This case study will assess your understanding of the expected value approach. In 1-2 double-spaced pages, respond substantively to all four parts of the application. Be sure to validate your respon
Moore Company is considering a capital investment of $180,000 in new equipment. The machinery is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straig
“hi sir ,
hope u r doing well . please check the attachment .. i want you to answer only question 3 .
thanks”
Comprehensive Managerial Accounting Question PLease D. Using the allocation rates in part B, compute the under – or Overapplied overhead for the St. Falls plant for the year. Explain the impact on n…
“Deines Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2012, the following balances related to this plan.
Plan assets (market-related value) $450,000
Projected ben”
On December 31, 2008 Kean Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2008 beginning inventory to increase by $4
I am working on a financial analysis paper recommending a company to a set of investors and need help answering the following question. What does a Ratio of Net Sales to Assets of 1.5 mean for investo…
“Management issues
SE 1
Indicate whether each of the following actions to
Managing under the corporate form of business
Using equity financing
Deterring dividend polices
Evaluatin”
“An advantage of the DuPont model for calculating ROI is that:”
Paradise Pottery had the following costs in May when production is 800 ceramic pots: materials, $8,700; labor (variable), $2,900; depreciation, $1,100; rent, $900; and other fixed costs, $1,500. The v
a company issued 9.2%, 10 year bonds with a par value of $100,000. Interest is paid semiannually. The market interest rate on the issue date was 10%, and the issuer received $95,016 cash for the bon
“7. Which of the following cannot be taxed as a partnership? (Points : 5)
An accounting PLLC
An LLC with only one member
An LLC owning only rental property
“
“Y-B-2 Inc. pays its rent of $90,000 annually on January 1. If the February 28 monthly adjusting entry for prepaid rent is omitted, which of the following will be true
1)Assets will be overstated by $”
“1) The Old Van Rental Company has 6 vans available for rent late on Wednesday night when the office gets a call from a small group of tourists wishing to rent 3 vans for the next day (one day renta”
Harrison Company makes two products and uses a conventional costing system in which a single plant-wide predetermined overhead rate is computed based on direct labor-hours. Data for the two products f
“When comparing Treasury Bonds to corporate bonds, the yield rate should usually be_____________ for corporate bonds.
the same
less
greater
indeterminable – we would have …”
This is a new start a business, put in whenever you feel appropriate.
Cooper Construction Company had a contract starting April 2010, to construct a $9,000,000 building that is expected to be completed in September 2012, at an estimated cost of $8,250,000. At the end of
What does this mean denied-price? I have paid for this plus I give tips.
Just need to create a balance sheet and income statement never mind the link. I will attached a sample income statement that she gave.
“A company’s employees had the following earnings records at the close of the current payroll period:
The company’s payroll taxes expense on each employee’s earnings includes: FICA Social Se”
Chapter 10 Questions Attached. 1) In 2011, Acme Corporation reports negative taxable income of $350,000, including a net operating loss (NOL) carryforward from 2010 of $70,000. What is Acme’s NOL fo…
On January 1, 2004, Mill Corporation purchased for $304,000, equipment having a useful life of ten years and an estimated salvage value of $16,000. Mill has recorded monthly depreciation of the e
is depreciation a source of cash flow? 5. When a statement of cash flows is prepared using the direct method, what are some of the operating cash flows?
Can you help with these capital budgeting decision questions?
Pia and Ramona are partners who share income in the ratio of 3:2. Their capital balances are $80,000 and $120,000 respectively. Income Summary has a credit balance of $40,000. What is Pias capital bal
“. A company is trying to decide which of two new product lines to introduce in the coming year. The predicted revenue and cost data for each product line follows:
Product a Prod”
How do you compute goodwill with intercorporate transfers?
Smith and Jones each owns tracts of land. Because of the location of their current operations, each would prefer to have the other’s land. Smith and Jones agree to exchange tracts. Jones pays Smith $3
strayten corp is a wholly owned subsidiary of Quint inc. Quint decided to use the initial value method to account for this investment. During 2009, Strayten sold Quint goods which had cost $48000. the
The Breakeven Point – how can it be used to measure a target company in mergers and acquisitions?
On November 10, 2011, King Co. sold inventory to a customer in a foreign country. King agreed to accept 96,000 local currency units (LCU) in full payment for this inventory. Payment was to be made on
“In a statement of cash flows in which operating activities are reported by the direct method, which of the following would increase reported cash flows from operating activities?
gain on sale o”
the question has been attached as an attachment, Id need to know what the first question is that I submitted so far.
“Given the following list of accounts, calculate Total Assets:
Accounts Receivable
$ 5,000
Capital Stock
20,000
Cash
14,300
Equipment
15,400
Fees Earned”
“If manufacturing overhead is applied at a rate of $1.50 per direct labor dollar and Department B worker had worked 200 hours at $12.00 an hour on job L1147, then applied overhead would be:
a)$3,600″
Assume that the company’s produces and sells 45,000 during a year at selling price of $16 per ubit.Prepare an income statement in the ontribution format for the year
“10. The December 31, 2012, balance sheet of Hess Corporation includes the following items:
9% bonds payable due December 31, 2021: $2,000,000
Unamortized premium on bonds payable: 54,000
The”
“Holligan publications established the following standard price and costs for a hardcover picture book that the company produces.
Standard price and variable costs:
Sales price”
“5-7
The Village of Harris issued $5,000,000 in 6 percent general obligation, tax-supported bonds on July 1, 2008, at 101. A fiscal agent is not used. Resources for principal and interest payments are”
“The Granger Co. had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employees on”
Abel Athletics is preparing to release its first Annual Stockholder Report since the company’s recent initial public offering (IPO). The accounting department has already prepared and provided the fin
. Retail outlets purchase snowboards from SB, Inc. throughout the year. However, in anticipation of late summer and early fall purchases, outlets ramp up inventories from May through August. Outlet
I don’t know how to answer these questions. Please include explanation. I only know the basics on intangible assets. Cases 1. NewDrugs, Inc., an international corporation, has identified a list of exp…
“Tiger Corporation purchases 1,200,000 units per year of one component. The fixed cost per order is $25. The annual carrying cost of the item is 27% of its $2 cost.
Determine the EOQ under each of”
In a noncompetitive environment, the key factor affecting pricing decisions is the: A) customer’s willingness to pay B) price charged for alternative products C) cost of producing and delivering th…
“Available-for-sale securities are classified as?
A)Short-term investments only
B)Long-term investments only
C)Either short-term or long-term investments
D)Current assets only”
“House mortgage
You have just purchased a house and have obtained a 30-year, $200,000 mortgage with an interest rate of 10 percent.
Required:
what is your annual payment?
Assuming you bought”
On January 1, 2010, Fishbone Corporation sold a building that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a $240,000 noninte
“Joe Six Pack
InBev, the world’s largest brewer, is headquartered in Leuven, Belgium. In 2007, InBev employed nearly 89,000 people worldwide to manage more than 200 brands. It has sales in over 130 …”
Keenan Corp is comparing 2 different capital structures. Plan I would result in 7,000 shares of stock and $160,000 in debt. Plan II would result in 5,000 shares of stock and $240,000 in debt. The i
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary’s discount rat…
“Exercise 5-2:
A concerned citizen provides resources and establishes a trust with the local government. What factors should be considered in determining which fund to report the trust activities”
The Phoenix plant of Baldo Chemical processes alphazine into betazine and gammazine. A batch consists of 20,000 gallons of alphazine, costing $11,000. Processing costs are $52,000, and results in 14
The Hilltop Corporation is considering (as of 1/1/08) the replacement of an old machine that is currently being used. The old machine is fully depreciated but can be used by the corporation through 20
“One of Varic Company’s products goes through a glazing process. The company has observed glazing costs as follows over the last six weeks:
Week Units
Produced Total
Glazing Cost
1 8 $ …”
“In order to conform to GASB standards, goods and services provided by internal service funds to other departments of the government must be priced to
A)Cover variable costs only
B)Cover full cost”
“At December 31, 2010 the following balances existed on the books of Foxworth Corporation:
Bonds Payable $2,500,000
Discount on Bonds Payable 200,000
Interest Payable”
“24. LO.5, 6 The profit and loss statement of Strategy, Inc., an S corporation, shows net
profits of $101,000 (book income). The corporation has three equal shareholders. From
supplemental data, you”
A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were transferred in. Ending Goods in Process Inventory was 15,000
“Discuss whether the changes described in each of the cases below require recognition in the Cpa’s audit report as to consistency. (assume that the amounts are material.)
The company changed its i…”
“””1. The following calendar year information about the Tahoma Corporation is available on December 31:
Advertising expense……………..28,800
depreciation of factory equipment…42,320
depr”
“The following information describes a product expected to be produced and sold by Hadley Company:
Selling price…….$80 per unit
Variable costs……$32 per unit
Total fixed costs ..$630,000″
On December 31, 2011, Lang Corporation leased a ship from Fort Company for an eight-year period expiring December 30, 2019. Equal annual payments of $200,000 are due on December 31 of each year, begin
On September 19, 2012, McCoy Co. purchased machinery for $285,000. Salvage value was estimated to be $15,000. The machinery will be depreciated over eight years using the sum-of-the-years’-digits
“1. Which of the following presumptions is correct about the reliability of evidential matter?
a)Information obtained indirectly from outside sources is the most reliable evidential matter.”
What amount of compensation expense should Smiley recognize as a result of this plan for the year ended December 31, 2010 under the fair value method? $1,400,000. B. $880,000. C. $800,000. D. $
“””””1) In a noncompetitive environment, the key factor affecting pricing decisions is the:
customer’s willingness to pay
price charged for alternative products
cost of producing and deliv”
(Ignore income taxes in this problem.) The Whitton Company uses a discount rate of 16%. The company has an opportunity to buy a machine now for $18,000 that will yield cash inflows of $10,000 per year
Flyaway Travel Company reported net income for 2009 in the amount of $90,000. During 2009, Flyaway declared and paid $2,125 in cash dividends on its nonconvertible preferred stock. Flyaway also paid $
Weinberg Canning produces fillets, smoked salmon, and salmon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold ar split-off or after further processi
Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers. How will this business transaction affect the accounting equation? (Po
“32. Under a kaizen system
goals can be changed as frequently as a few times a year.
one or more processes can be targeted for improvements leading to cost reductions.
prior period”
“1. Percentage-of-completion method.
Dalton Construction Co. contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to the construction are:”
ok, “James, Adam and David each contribute $10,000 cash to form a general partnership to make and sell pies, and agree to share profits and losses equally. The partnership uses $10,000 to purchase nee
“Prepare a pro forma balance sheet for 2009 assuming that any external funds being acquired will be in the form of notes payable.
Disregard the information in part b in answering this question
(tha”
The partnership contract for Cole & Dane LLP provides that Cole is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partners
“Adjust Sunbeam’s 1997 Earning before
interest and taxes for one-time events and apparent (e.g., doubtful
accounts, depreciation expense, and etc.) changes in accounting
You may want to comp”
What is the error in total net income for the combined three-year period resulting from the inventory errors? Explain why the understatement of inventory by $56,000 at the end of 2007 results i
Compare 5 most loss making companies in world with 5 most profit making companies of the world in terms of their business, net profit. Also find out few reasons why the business has gone down so much?
I am an accounting student at kaplan(ac114). I need the answers to the textbook excercises Unit 8 (chapter 7) PR 7-1A (page 344)and PR 7-2A (page 345). I provided the data under the spreadsheet for th…
A business produces Product A in batches of 5,000 gallons,which can be sold for $3 per gallon. The business has been offered $5 per finished gallon to process two batches of Product A futher into Prod
Please help. This is a managerial accounting question that I don’t seem to comprehend. It might have been asked before. Please see attached. Variance Analysis The plant manager decides that what is ne…
“Scott Company was organized on January 1, 2007, by 3 friends. Each organizer invested $50,000 in the company and, in turn, was issued 10,000 shares of stock.
To date, they are the onl”
“On January 3, 20X4, Realto Company issued a $5,400,000, 3-year note payable with a fixed interest rate of 8% payable semiannually. By the end of June 20X5, Realto’s controller, believed that interest…
OK, here is the problem. It is supposed to be done in excel. E-mail me if you have any questions. Thank you! ashley_bates05@hotmail.com Part One Big Al’s Pizza, Inc., a new subsidiary of Big Al’s …
I got these answers wrong and we are now allowed to retake this test. Can you help with the correct answers please? 1) The following items were among those that were reported on dye co.’s income sta…
FINAL ACC2202 EXAM: 1. Stockholders of a corporation directly elect: a. the president of the corporation. b. the board of directors. c. the treasurer of the corporation. d. all of the employees of the…
Weaver Research Company issues bonds on January 1, 2008, that pay interest semiannually on June 30 and December 31. The bonds have a $120,000 par value, the annual contract rate is 12%, and the bonds
The following transactions took place at sneaky pete’s shoe store during the first week of september 2010. indicate how these transactions would be entered in a cash payment’s journal. Date Transactio…
“Design tests of controls, substantive tests of transactions, and analytical procedures for the following Apollo Shoes cycles:
Sales and collection cycle
Payroll and personnel cycle
Acquisition”
As part of the purchase price of a business, on January 1, Sam Farrow pays $100,000 for the patent to an industrial gear. In addition, as part of the same purchase, Sam pays $10,000 for the busine
dell co. issues bonds dated january 1, 2009 with a par value of 450,000. the bonds’ annuak contract rate is 9%, and interest is paid semiannualy on june 30 and december 31. the bonds mature in three y
I need a Contribution Margin Format Income Statement concerning Main Line vs … starring in the movie “Boxing Helena
Case 09-1 Velocity Cellular In conjunction with quarterly review procedures, the controller of Velocity Cellular Services (Velocity or the Company) provided the audit engagement team with background i…
“4. Jade Corporation (a calendar year, accrual basis taxpayer) had the following transactions during 2010, its second year of operation.
Taxable income $330,000
Federa”
while she was a college student, juliet worked in a bookstore located near campus. She think a bookstore located on the other side of campus would be successful. She incurs expences of $18,000 (accoun
1 Nikkel Corporation, a merchandising company, reported the following results for July: Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100 Total fixed selling ex…
“13-36 (Mt. Hood Furniture—PPS sampling problem)
You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have sepa…”
“4. Which of the following is not an acceptable partnership tax year? (Points : 5)
The tax year used by any principal partner
The tax year used by the partners who own a majority”
PCB Corporation has fixed costs of $613,686. It has a unit selling price of $8.50, unit variable cost of $6.20 and target net income of $2,454,744. Compute required sales in units to achieve its targe
“chapter 19 exercise 19-9 multiple questions
1-5. select the answer for each of the following items:
which of the following should be included in the current funds revenue of a not-for-profit priv”
Recasto owns a second residence that is used for both personal and rental purposes. During 2005, Recasto used the second residence for 50 days and rented the residence to Louis fo 200 days. Which of t
“MCQ75
The following data are for the pension plan for the employees of Lockett Company:
1/1/10 12/31/10 12/31/11
Accumulated benefit obligation $7,500,000 $7,800,000 $10,200,000
Projected b”
Please help answer these questions! Final Exam—ACC 483 Due: Monday, April 26, 2010 Instructions: Choose 12 of the 15 questions below and answer each of those 12 questions. Where applicable, show all…
“Re: Work You Answered: Still Owe You Pay
Hello Michael,
I have been emailing you for clarification on my work I received from you. Can you please answer the question so I can process the homework”
Please read the week 6 quiz tips in the word doc attachment. Quiz 6 tips To allocate costs, you need to the following steps: 1. Find the allocation basis for the first question, that is sales – you …
Swanson Company will receiv $100,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $63,017. In how many years is the $100,000 received?
Sheldon owns 600 shares of the 1,000 shares outstanding of Hawk Corporation (E&P of $500,000). The remaining stock in Hawk is owned by several shareholders unrelated to Sheldon. In the current year
What should a student study before taking the FPC exam? Where is the location of the closest exam center for the Fundamental Payroll Certification (FPC) exam in your area? 5. When must you reg
In a few paragraphs, discuss the role of at least two different methods in uncovering fraud.
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 6 times, total current assets of $810,000, and cash and marketable securities of $120,000. What were K
“The current information for the VC Warren Company is shown below:
Sales $500,000
Less variable expenses $175,000
Contribution margin $325,000
Less fixed expenses $90,000
Net”
Can you please answer the attached questions. Chapter 5, Exercise 5-4, Problem 5-6 Spellman Company acquires 90% of Moore Company in a business combination. The total consideration is agreed upon, but…
PART 1 – There are a number of interesting differences between Sunbeam’s 1997 and 1996 balance sheets (e.g., receivables increased by $82 million, inventories increased by $94 million, and pre-paid ex
“The Granger Company had the following information about its pension plan for 2008:
Projected PBO January 1 $400,000
the company granted prior service benefits to employees on Jan. 1 80,000
“
“Indicate the nature of the possible fraud or embezzlement in each of these situations.
Sales returns and allowances increased from 5 % to 20% of sales in the first months of 2010, after record sa”
What is responsibility accounting? Is it used at your current (or former) place of employment, and if not, would it work? Why, or why not? Participate in follow-up discussion by asking your classm
Prepare a multiple-step income statement for 2010 for Howell Corporation that is presented in accordance with generally accepted accounting principles (including format and terminology). Howell Corpor
please help answer attached asap. With in 45 minutes.. 1. Dawson Company’s working capital is $36,700 and its current assets are $85,100. The company’s current ratio is closest to A B C D 2.32 tim…
“Use the following information as of December 31 to determine equity.
Liabilities $141,000
Cash $57,000
Equipment $206,000
Buildings $175,000
Answer
$ 57,000
$141,000
$297,00″
A government reported another financing source in the amount of $800,000, related to the sale of land in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances. The
“One of your clients is Professor Bart Simpson, a former tenured professor at Big State
A couple years ago, he accepted an early retirement package from BSU. Under the
agreement, he recei”
“Which of the following items will be reported on the income statement as part of net income?
Prior period adjustment
Unrealized decline in market value of investments
Foreign curre”
“The following questions concern independence and the Code of Professional Conduct or GAAS. Choose the best response.
The independent audit is important to readers of financial statements becau”
The account analysis method is subjective in that different managers viewing the same set of facts may reach different conclusions regarding which costs are fixed and which costs are variable. (Points
“Access Edgar online (sec.gov/wholemarketfoods,inc). Access the 10-K filing for the most recent fiscal year. Scroll to find the financial statement.
Calculate what cost of sales would have been fo”
mordic company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is
On January 2, 2010, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2011. Expenditures for the construction
Altex Manufacturing purchases $45,000 of raw materials on account, and it incurs $50,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,000 of raw materials
On December 1, 2010, Richards Company sold some machinery to Fleming Company. The two companies entered into an installment sales contract at a predetermined interest rate. The contract required four
attached J. Lynn, M. Oller, and F. Tate share income on a 5 : 3 : 2 basis. They have capital balances of $30,000, $26,000, and $18,000, respectively, when Doc Duran is admitted to the partnership. Ins…
A governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances reported expenditures of $30 million, including capital outlay expenditures of $2 million. Capital assets for th
“Hiatt Corporation’s balance sheet at December 31, 2009, is presented below.
HIATT CORPORATION
Balance Sheet
December 31, 2009
Cash $ 24,600 Accounts payable $ 25,600
Accounts receivable”
“Study Appendix 13. Consider the following data regarding factory overhead:
Variable Fixed
Budget for actual hours of input $45,000 $70,000
Applied 41,000 64,800
Budget for standard hours allowed”
“The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2009.
VILLAGE OF PARRY-PRINT SHOP FUND
Statement of Revenues, Expenses, and Changes in Ne”
“The balance sheet
Witch of the following is the correct choice?
summarizes the changes in retained earnings for a specific period of time.
reports the changes in assets, liabilities, an”
If the accrual basis taxpayer sells a 12-month service contract on July 1, 2008, all of the income is recognized in 2008. e.
“26) Jekyll Company collected $500 on account. What impact will this transaction have on the firm’s current ratio?
Not enough information is provided to answer the question.
Increa”
What potential problems can arise if a company incorrectly classifies product costs and period cost?
“””P2-5A
The Lake Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed: No. 101 Cash $6,000; No. 140 Land $10,000; No. 145 Buildings (concession stand”
“The Sage Corp. prepared for 2005 and 2004, the following balance sheet data:
?…”
“13. SML and WACC An all-equity firm is considering the following projects:
PROJECT BETA EXPECTED RETURN
W .75 11%
X .95 13%
Y “
Cost accounting case study E x t r a -c r e d i t op po r t u n i t y f o r C ost A c cou n t i ng 66 (op t i on a l ) Due date: the last day of instruction of an academic term. Topic: Activity Based …
“Scenario Summary
You have a small tax accounting preparation and bookkeeping practice. A new client enters your office and places a box of receipts and bank statements on your desk and says that”
What if the current ratio looks good but profitability ratio doesn’t look very good? What would you look at next?
the nine steps of the accounting cycle screen capture and summary
What irregularities should a fraud examiner look for in areas within a firm where physical cash is used?
“””3 to 4 pages.
You have been asked to speak at a career fair for high school students in your home town.
Specifically, you are making a presentation about your role as an accountant.
Describe f…”
Wine and Roses, Inc. Offers a 7 percent coupon bond with semiannual payments and a yield to maturity of 7.73 percent. The bonds mature in 9 years. What is the market price of a $1,000 face value bo
Direct materials inventories are kept in pounds in Byrd Company, and the total pounds of direct materials needed for production is 9,500. If the beginning inventory is 1,000 pounds and the desired end
Benjamin O’Henry has owned and operated O’Henry’s Data Services since its beginning ten years ago. From all appearances, the business has prospered. In the past few years, you have become friends with
As you discuss the tax-free sale with Emily and Richard, you present several accounting methods for the acquisition—cost basis, equity basis, or consolidated basis. In your presentation, include the…
“Cole laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows:
The company had no beginning inventories of”
“Lange Co. provided the following information on selected transactions during 2004:
Purchase of land by issuing bonds $150,000
Proceeds from issuing bonds 300,”
“Which of the following statements is correct?
(Points: 10)
One way to increase EVA is to achieve the same level of operating income but with more investor-supplied capital.
If a”
When evaluating the performance of managers in investment centers, performance metrics should be based on A. revenue and costs under their control B. revenues, costs, and investments under their contr…
Prepare 300 words Executive Summary, using the information contained in the company’s balance sheet and income statement, answering the following questions, noting that annual reporting period and f…
“Find the latest 10k of Domino’s pizza and please answer the following:g) Is the current ratio adequate? How do you know?”
Steve Madison needs $250,000 in 10 years. How much must he invest at the end of each year, at 11% interest, to meet his needs? (Round the answer to zero decimal places, e.g. 12,250. Hint: Use tables i…
“E-10. I have to record the following journal entries, which I have already filled out the payroll!:
recording the payroll.2.paying the payroll.3.Distributing the payroll.(assume that overtime prem”
“Unbilled sales as of the balance sheet date
The unadjusted trial balance for Johnson Wholesale, Inc for the YEAR ended
March 31 is shown below, followed by a series of “”facts”” requiring adj”
“The Star Restaurant Company owns and operates Chinese restaurants throughout the northwestern
United States. Paris Brown, vice president of development, has been analyzing a new
metropolitan market”
I didn’t make but a B or a C on the first two so NO!! give me an a..and I will eventually upgrade the price..but for now..until I get an A…this is all I can afford.
WAREN SPORTS SUPPLY, YEAR-END WORKSHEET, DECEMBER 31, 2009
This is from the book: International Accounting A user perspective 3rd Edition International Accounting A User Perspective CHAPTER 2—QUESTIONS TRUE/FALSE 1. Accounting harmonization, according to it…
I really need some help on this assignment. I completely bombed the week 2 assignment and I am lost on this. If you can clarify anything with the chapter 2 assignment and check my information on the c…
“Conflict Between Performance Evaluation and Use of NPV [LO 7]
Division managers at Creighton Aerospace are evaluated and rewarded based on ROI (return on investment) targets. In the current year,”
“Question 18:
On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000.Interest is payable semiannually on February 1 and August 1.Present the …”
A business is considering the investment in a new machine that will cost $320,000 with no salvage value. The machine is expected to reduce labor costs by $70,000 per year and material scrap by $20,000
“Melissa Wimberley sold 100 shares of ABC stock with an adjusted basis of $1,000 for
$2,000. She also sold 500 shares of XYZ stock with an adjusted basis of $20,000 for
$12,000. She had no other sale”
“1. Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic U”
Pennington coporation emitió una serie de bonos el 1 de enero de 1970. Losbonos se vendieron a la par (B/.1000.00), tienen un cupón del 12% y vencen dentro de 30 años, el 31 de diciembre de 1999. L…
1). On January 1, 2009 Boston Company purchased a heavy duty machine having an invoice price of $13,000 plus transportation and installation cocsts of $3000. The machine is estimated to have a 4-year
“Describe how to account for and report on contingent liabilities.
Answer
please 200 words if possible.”
Cornell Corporation manufactures faucets.Several weeks ago, the firm received a special-order inquiry from Yale, Inc.Yale desires to market a faucet similar to Cornell’s model no. 55 and has o…
“The situation that requires a departure from the cost basis of accounting to the lower of cost or market basis in valuing inventory is necessitated by:
a decline in the value of the inventory.”
Write a memo to your employer on two pages on the following issue: You’ve been advised that your company’s Senior Account Manager has been forwarding emails complaining about the President to othe…
Farmer Frank’s produces items from local farm products and distributes them to supermarkets. Over the years, price competition has become increasingly important, so Susan Kramer, the company’s con…
“7. T F The adoption of a new principle in recognition of events that have occurred for the first time or that were previously immaterial is not an accounting change.
T F There is a presumption”
Conan collected $100,000 from customers in 2009. Of the amount collected, $25,000 was from revenue earned on account in 2007. In addition, Conan earned 440,000 of revenue in 2008, which will not be co
“P12-17 Translation, Journal Entries, Consolidated Comprehensive Income, and Stockholders’ Equity”
“2. GAAP requires that some lease agreements be accounted for as purchases. The theoretical justification for this treatment is that a lease of this type:
Complies with the concept of form over su”
“9. The maximum marginal corporate tax rate excluding surtaxes is: (Points : 5)
Equal to the maximum individual tax rate
More than the maximum individual tax rate
34%”
Francis Inc.’s stock has a required rate of return of 10.25%, and it sells for $35.00 per share. The dividend is expected to grow at a constant rate of 6.00% per year. What is the expected year-end di
“Please do :
*Technical question 1 just (a) the price elasticity is -1 for this part.
*Technical question 3 just (a)
*Application question 1 just do part ( a & C )
*Application question 3″
Conversely, explain why a firm like Honda uses much less financial (debt) leverage than does Bank of America.
“Need to prepare the bank reconciliation for Multi-Plex Health care at May31 and Record the entries called for by the reconciliation.
The May 31 bank statement of Multi-Plex Health care has just arri”
“Preparing production and direct materials budgets
see pdf attached
Problem 7-6AA Preparing production and direct materials budgets L.O. C3, P3
Black Diamond Slope Company produces snow skis. Each s”
Jarmon Airlines is a small airline that occasionally carries overload shipments for the overnight delivery company Never-Fail is a multimillion-dollar company started by Peter Never immediately after
Dixon Corporation is considering a public offering of common stock. The firm will offer one million shares of common stock for sale. The estimated selling price is $30 per share with Dixon Corp. recei
You purchase a boat fpr $35,000 and pay $5,000 down. You also agree to pay the rest over the next 10 years in10 equal end of the year payments plus 13% compound interest on the unpaid balance. What wi
“calculate the material price and usage variances, and the wage rate variance and labour efficiency variances for the following data,
month labour labour material material units
usage”
“Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets?
Variable manufacturing overhea”
“7. George and Martha are married and file a joint tax return claiming their two children, ages 10 and 8 as
Assuming their AGI is $123,450, George and Martha’s child tax credit is:
$0,”
“16) Agency costs arise when agents fail to act in the best interests of the principals. One example of losses from poor decisions would be
prioritizing projects, according to the best interes”
“Nathan Township financed emergency repairs on the Township Hall by borrowing on a $200,000, 6 month
short-term note. The interest rate on the note was 6% and it was issued 2 months prior to the end o”
Emery Inc. Had $ 5 million of gross income, operating expenses of $ 1 million, paid $ 1 million of interest on borrowing of $ 10 million, and paid a dividend of $ 0.5 million. Emory Inc’s taxable in…
“The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just completed year.
Sales …………………………………………….”
“16-18
Sophia Sweeny, the president of Sweeny Enterprises, is considering two investment opportunities. Because of limited resources, she will be able to invest in only one of them. Project A is to”
“12-59 Allocating Costs Using Direct and Step-Down Methods
Goal: Create an Excel spreadsheet to allocate costs using the direct method and the stepdown
Use the results to answer questions abo”
“(Capitalization of Interest) On December 31, 2009, Hurston Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2010, the company made the follow- ing exp”
We have 3 statements of cash flows- What are the 3 statements of cash flows? What or how do we differentiate these?
Faith inherits an undivided interest in a parcel of land from her father on February 15, 2005. Her father had purchased the land on August 25, 1965 and his basis for the land was $325,000. The fair ma
I need the answers to chapter 3 P3-4 Intermediate accounting 13th edition
Please, i need solutions to the attached financial accounting questions.
“9. All of the following expenses are deductible except:
Safety deposit box rental to hold investment securities
A paid bill that is now being disputed
Interest inc”
a voucher system’s control over cash disbursem*nts begins when a company incurs an obligation that will result in eventual payments of cash. True or False
Why might managers seeking a monthly bonus based on having attained a target operating income prefer the sales method of accounting for byproducts rather than the production method? Elaborate your an
“Highlight, Inc., owns all outstanding stock of Kiort Corporation. The two companies report the following balances for the year ending December 31, 2011:
Highlight Kiort
Revenues and in”
attached ./.Ex. 114 Ken Law and Jim Renn operate separate auto repair shops. On January 1, 2002, they decide to combine their separate businesses which were operated as proprietorships to form L &…
“when direct costing is used, cost of goods sold reflects:
a)both variable and fixed manufacturing costs
b)variable manuacturing costs and variable selling and administrative expenses
c)variable man”
“Adjust Sunbeam’s 1997 Earning before
interest and taxes for one-time events and apparent (e.g., doubtful
accounts, depreciation expense, and etc.) changes in accounting
You may want to comp”
How is preferred stock reported for IFRS when it is mandatorily redeemable upon death of the owner? a. As a liability b. As mezzanine equity c. As temporary equity d. As equity e. None of the above
“Which of the following would be classified as an appraisal cost on a quality cost report?
Returns and allowances arising from quality problems.
Downtime caused by quality problems.”
The Clarkson Company’s Cargo Division is currently operating at 100% of capacity (capacity is 100,000 units). Normal selling price is $20.00 per unit. At current operating levels, fixed costs are $6…
I will increase the money. Using the adjusting and closing entries that you prepared in Week 04, prepare the statements listed below. Refer to the trial balance provided to you in Week 04 for last yea…
“Direct Materials: .74 per meat pizza and .62 per veggie pizza
Direct Labor: 2.51 per meat pizza and 2.78 per veggie pizza
Mothly fixed selling and admin: 15,300
Monthly fixed Manuf Over: 2,85″
“Which one of the following statments regarding partnership taxation is always correct?
A partnership is a taxable entity for Federal income tax purpose.
Partnership income is comprised of ordi”
All the listing needs to be put into a general journal. Then once the general journal is made, Need to calculate what the annual per share dividend is that will be paid out to the common stockholders
For the coming year, Belton Company estimates fixed costs at $60,000, the unit variable cost at $25, and the unit selling price at $50. Determine (a) the break-even point in units of sales, (b) the un
Question 1. (20 points) Thomas Corporation is evaluating whether to lease or purchase equipment. Its tax rate is 30 percent. The company expects to use the equipment for 5 years, with no expected s
“X Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals):
A Cash: $70,000;
B Inventory: FMV-$20,000 Basis-$20,00″
“1. Please discuss at least three advantages of leasing versus ownership including detailed support and examples.
Length required: To answer the question completely and effectively.”
“Lessee accounting—capital lease.
Eubank Company, as lessee, enters into a lease agreement on July 1, 2010, for equipment. The following data are relevant to the lease agreement:
The term of t…”
“Discuss the elements of BFOQ (Bona Fide Occupational Qualification) and how this defense
relates to the above case.”
“data for a firm’s first year o operation is given below. The firm uses absorption costing
uints produced (no work in process 6,000
units sold 5,000
units”
see the attachment 10. value: 14 points Dakota Company completed the following transactions and events involving its delivery trucks. 2008 Jan. 1 Paid $23,515 cash plus $1,785 in sales tax for a new d…
“Office Space (acct # 15500) – $ 70,000 (you determine tax life)
Land (acct #16900) – $ 30,000 (you determine tax life)
The Building and Land payme”
“Prepare journal entries for ABC Co.’s following events.
05/12/08 Received charter authorizing ABC Co. to issue 20,000 shares of common stock at a par value of $2 per share
06/03/08 Issued 8,000 s”
“There are two parts to this case which require you to prepare and submit in a two to four page paper. Please make sure this paper is well organized and covers all of the items below.
Part I. Searc”
Westex Products is a wholesale distributor of industrial cleaning products.When the treasurer of Westex Products approached the company’s bank late in the current year seeking short-term financing…
The CFO of your company comments, “I don’t understand why other companies waste so much time by creating budgets. I set company goals, and everyone strives to meet them.” Is this a valid approach?
Please explain how mixed costs are related to both fixed and variable costs.
“Question 1:
A company’s warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged:
Inventory, beginning: $28,000
Purchases for”
“””Identification of Long -Term Assets Terminology
1 Listed below are common term associated with long-term assets:
Tangible assets
Natural resources
Intangible assets
Additions
…”
please see attachment. Thanks! Sven Enterprises is a large producer of gourmet pet food. During April, it produced 147 batches of puppy meal. Each batch weighs 1,000 pounds. To produce this quantity o…
Hello, I have submitted my assignemnt attached below: Create a business process level REA model (in either grammar or diagram format) for Quandrax Computer’ acquisition/payment process. Be sure to inc…
At the beginning of the year, Heather’s “tax basis” capital account balance in the HEP Partnership was $60,000. During the tax year, Heather contributed property with a basis of $10,000 and a fa…
“The condensed financial statements of Butch & Sundance Company for the years 2007-2008 are presented below:
Butch & Sundance Company
Comparative Balance Sheets
As of December 31, 2008 and 2007″
On January, 1, 2010, Porter Company purchased an 80% interest in the capital stock of Salem Company for $850,000. At that time, Salem Company had capital stock of $550,000 and retained earnings of $8
A division of HP Company changed its production operation from one where a large labor force assembled electronic components to an automated production facility dominated by computers controllers robo…
“11. Trading Marketable Securities:
are considered non-current assets.
are recorded at amortized cost.
are marked to the lower of cost or market each accounting period.
are marked to m”
What if there are no current liabilities on the balance sheet? What would you want to look at
“On August 3, Srini Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be 8 years, with a residual value of $50,000.
Compute”
An investment banker is analyzing two companies that specialize in the production and sale of candied apples. Old-Time Apples uses a labor-intensive approach, and Mod-Apple uses a mechanized system. C
“4-5A HOGAN THRIFT SHOP
PAYROLL REGISTER
FOR PERIOD ENDING December 18 20
MARITAL STATUS OF W/H ALLOW. DEDUCTIONS
TOTAL ( a ) ( e )”
On June 30, 2002 Mendenhal Company issue 12% bonds with a par value of 600,000 due in 20 years. They were issued at 98 and were callabel at 104 at any date after June 30, 2010. Because of lower inter
“Answer the following questions using the information below:
Injection Molding, Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materials a”
16-16. ADK Delivery is a small company that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves packages to and from a central depot with
“1. A by-product
should not have any joint costs allocated to it.
should use the physical method measure to allocate joint costs..
should use the net realizable value method to allo”
Here are all 30 multiple choice questions. I also attached the questions in file herewith. QUIZ – Advanced Accounting 1. Which of the following situations best describes a business combination to be…
Individual income taxes 2011: tax return problems in appendix E
See attached homework problem. I need to know how do you compute the answer for question 1a. I understand how they got the “sales value of total production at splitoff point”, but not for “weighting” …
Shirley Inc produces and sells two products. During the most recent month, Product X sales were $25,000 and its variable expenses were $5,750. Product Y sales were $40,000 and its variable expenses we
14-52) Sam Rogers forms a corporation. Sam Transfers to the corporation property having a basis to him of $15,000 and a fair market value of $27,000 for 900 shares of the $10 par stock of the corporat
“3. Preparing a pension work sheet.
The accountant for Marlin Corporation has developed the following information for the company’s defined-benefit pension plan for 2011:
Service cost $500,000
Actua”
To raise capital, companies might sell bonds. This allows them to bypass lenders such as banks and go directly to the investing public. Your company is planning to sell bonds with a face amount of $1,
Who can answer my questions, please find the attache 1. You are analyzing Becker Corporation and Newton Corporation and have concluded that Becker has a higher operating leverage factor than Newton. W…
Please read the week 6 exam 3 tips in the word doc attachment. AC202 Principles of Accounting II Park University Name___________________________________ Exam 3A Chapters 19-21 Multiple Choice Question…
In current year, Marge (age 67 ) engages in the following transactions. Determine the amount of the completed gift, if any, arising from each of the following events. Assume 10% is the applicab
“What is the effect on net income if a company fails to record a purchase in transit (FOB shipping point) and also fails to include the purchase in physical inventory? (Points: 4)
Income is ov”
“Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $20 per unit. Variable
costs are $8 per unit, and fi xed costs total $180,000 per year.
Required:
Answer the follow”
Under its executive stock option plan, N Corporation granted options on January 1, 2009, that permit executives to purchase 15 million of the company’s $1 par common shares within the next eight years
What are some issues to consider before investing in another company?
Harry Company is considering two different, mutually exclusive capital expenditure proposals. Project A will cost $387,790, has an expected useful life of 11 years, a salvage value of zero, and is exp
“Putnam Corporation manufactures a single product. The standard cost per unit of product is shown below.
Direct materials-1 pound plastic at $7.33 per pound $ 7.33
Direct labor-1.5 hours at $12″
“property dividends distributed are reported in connection with a statement of cash flows as:
a financing activity
an investing activity
a noncash activity
not reported in the state”
Tytus company entered into the following transactions involving short term liabilities in 2010 and 2011
“modified accrual accounting is used for debt service funds in which of the following ways?
a)it is used without exception
b)it is not used in any transaction
c)it is used to account for interest, w”
“”USA is living beyond its means.” The Controller General of the United States resigned less than two months after posting a video highly critical of the U.S. government’s management of funds. A…
“38. On November 8, 2003, Power Corp. sold land to Wood Co., its wholly owned subsidiary.The land cost $61,500 and was sold to Wood for $89,000.From the perspective of the combination, when is …”
“Question 2-48, CVP and Financial Statements for a Mega-Brand Company, on p. 82
Question 2-61, CVP in a Modern Manufacturing Company, on p. 87
EXCEL Application Exercise, CVP and Break-Even, on”
“Hendrickson Corporation reported net income of $54,590 in 2010. Depreciation expense was $15,590. The following working capital accounts changed.
Accounts receivable $11,450 increase
Availab”
Richard made a contribution of property to the newly formed QRST Partnership. The property had a $30,000 adjusted basis to Richard and a $100,000 fair market onthe contribution date. The property was
“Problem 4-20 Effect of different inventory cost flow methods on financial statements The accounting records of Brooks Photography, Inc., reflected the following balances as of
January 1, 2012:
Cash”
really need correct answers to all questions. Assignment is in attachment. very short assignment Question 1 Which one of the following is primarily interested in the liquidity of a company? Shortter…
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
can someone please help me with this assignment I am running out of time number 4 and 5 is the only part I need to doProblem:only number 4 and 5 is my part Case 13-36 – Mt. Hood Furniture—PPS Samp…
Please find attached Introduction to Management Accounting, 14th edition, Horngren. Chapter 9 problem 9-48 www.cob.sjsu.edu/buck_c/homework9.doc 9-48 (20-30 min.) This problem is similar to the proble…
“”The following expenses were incurred by a merchandising business during the year. In which wxpense section of the income statement should each be reported (a) selling, (b) administrative, or (c) oth
The Hershey Foods Company manufactures chocolate confectionery products. The three largest raw materials are cocoa beans, sugar, and dehydrated milk. These raw materials first go into the Blending Dep
“Part 1
For the year ended December 31, 2013, Xander Company reports the following:
Sales $3,000,000
Variable costs 2,000,000
Controllable fixed costs 900,000
Average operating assets 2″
Perez Company, a Mexican subsidiary of a U.S. company, sold equipment costing 200,000 pesos with accumulated depreciation of 75,000 pesos for 140,000 pesos on March 1, 2009. The equipment was purchase
“which one of the following actions is indicative of a restrictive short-term financial policy?
a – granding increasing amounts of credit to customers
expanding the number of inventory items carri”
Red Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company’s assets in that country. If expropriation is probable, a loss contingency should be:
“I need the attached answered as well as the steps listed used to reach the answer. The answer must contain the following:
Service cost
Interest Cost
ROPA:
Amortization for Prior Service Cost:
A”
“Which of the following is not a required characteristic of a qualifying Section 351
transaction?
If more than 20 percent of the stock is transferred for services, property must also be
transferr”
Should Sooner or Later use the $6 grant-date fair value or the $9 grant-date fair value to measure its compensation cost? Over how many years should Sooner or Later recognize compensation cost associ
Discuss improvements in the implementation of AIS systems
. On January 1, 2009, D Corp. granted an employee an option to purchase 6,000 shares of D’s $5 par common stock at $20 per share. The options became exercisable on December 31, 2010, after the employe
Tax research problem – walter is both a real estate developer and the owner and manager of residential rental real estate. Walter is retiring and is going to sell both the land he is holding for futu
Manning Company has the following items: write-down of inventories, $360,000; loss on disposal of Sports Division, $555,000; and loss due to strike, $339,000. Ignoring income taxes, what total am
How much annual depreciation will each partner have per the books and per the tax allocation assuming the partnership uses the traditional method? Explain the ceiling rule under Section 704(c) and
“25. Which of the following is a responsibility of the Office of Management and Budget?
Assisting the President in preparing the federal budget.
Resolving bid protests that challenge government”
“1. Which is not a change in accounting principle?
Going from FIFO to LIFO for inventory valuation
Going from straight-line to accelerated depreciation
Changing your allowance for doubtful”
Patentex developed a new secret formula which is of great value because it resulted in a virtual monopoly. Patentex has capitalized all research and development costs associated with this formula. Gr
Berkley Company, a manufacturer of many different products, changed its inventory method from FIFO to LIFO. The LIFO method was determined to be preferable. In addition, Berkley changed the residual v
restaurant is deciding whether it wants to update its image or not. It currently has a cozy appeal with an outdated décor that is still in good condition, menus and carpet that need to be replaced an…
Norris Company produces a product that requires six standard pounds per unit. The standard price is $1.25 per pound. If 500 units required 2,900 pounds. which were purchased at $1.30 per pound. what i
Identify the three common types of confirmations used by auditors. Indicate which type is most reliable and explain your answer. In addition, indicate which type is least reliable and explain your ans
P17-8 (Fair Value and Equity Methods) Brooks Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achi
“The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2009.
Black Co. Blue Co.
Sales $360,000 $228,000
Expenses (240,000) (240,000)
Net i”
“. Beckham Company has 1,000 shares of 6%, $100 par cumulative preferred stock outstanding at December 31, 2010. No dividends have been paid on this stock for 2009 or 2010. Dividends in arrears at De”
“I scan from book. I need the general joural, adjusting entries, and closing entries.
“The sales records of a real estate agency show the following sales over the past 200 days:
Number of Number
Houses Sold of Days
60
…”
Keys Corporation’s 5-year bonds yield 6.50%, and 5-year T-bonds yield 4.40%. The real risk-free rate is r* = 2.5%, the inflation premium for 5 years bonds is IP = 1.50%, the default risk premium for K
Crow Manufacturers, Inc. projected sales of 75,000 bicycles for 2009. The estimated January 1, 2009, inventory is 5,000 units, and the desired December 31, 2009, inventory is 8,000 units. What is the
Help is needed but if you are not sure of what you will be doing please, let someone who understands the work do it. Excel can be used but all answers should be clear. No wrong answers please. P 4 Det…
“Find true statement(s):
Ceteris paribus, the quicker a company collects money from its sales, the higher its current ratio.
It is possible for a profitable company to go out of business”
How does identification of value-added processes help a company run more efficiently and effectively?
solutions to case 5-18 analysis of mixed costs in a pricing decision
INSTRUCTIONS: Please use the information below to complete the Form 1120 and the Schedule G for Form 1120. Blank forms can be found on the Hands-On Assignment Page or Doc Sharing. If you have a tax-so…
Define an internal control system and describe its purpose.
Larry has the largest pizza business in the city. He learns that Henry is thinking of opening a competing pizza and pasta delivery business. Larry gives Henry $25,000 to not open his proposed business
“Calculate Cost of Goods Sold for the following two companies:
CARVER LTD. PEMBROKE, INC
Beginning Inventory:
Merchandise ……………… $250,000 $550,000
Finished Good ……………”
(FIFO Supplement) Merckley Company has a process costing system and uses the FIFO method. For May, the company’s beginning work in process inventory was 70% complete with respect to conversion, and th
following are transactions of Gotebo Tanners, Inc., a new company, during the month of January 2012: 1. Issued 10,000 shares of common stock for $15,000 cash. 2. Purchased land for $12,000, signing a …
“P8-4A
The bank portion of the bank reconciliation for Backhaus Company at November 30, 2008, was as follows.
BACKHAUS COMPANY
Bank Reconciliation
November 30, 2008
Cash balance per bank”
Kirk Development buys on terms of 2/15, net 60 days. It does not take discounts and it typically pays on time, 60 days after the invoice date. Net purchases amount to $550,000 per year. What is the
Evaluate the evidence provided by Apollo Shoes. . . Decide how to structure the audit report for the provided evidence. . . Compose an audit reportthe appropriate length, sections, and content for the
Montana Woolen Products has two divisions: a Fabric division that manufactures woolen fabrics, and a Clothing division that manufactures woolen dresses, coats, shirts, and accessories. All fabric used
Hi- Attached is a balance sheet and income statement. I need a statement of cash flows in good form with T accounts.
“Eve possesses an instrument that is “”payable to bearer.”” She loses it. Flik finds it. On this instrument, Flik may
not collect payment, because he did not give value for it.
…”
What are all the requirements to qualify for the exclusion of $250,000 of gain from the sale of a personal residence? Why does the IRC allow the exclusion. Please provide specific reference to the IRC
What is Floyd’s beginning partnership and beginning corporation basis? Cash 15,000, land cost 10,000 market value 15,000, building cost 120,000 market value 80,000, residual value 20,000, accumulated
“5
On January 10, 2010, Gonzalez Co. sold merchandise on account to Ernst for $7,576, terms n/30. On February 9 Ernst gave Gonzalez Co. a 10% promissory note in settlement of the accounts receivable”
CFOs and controllers are leaders in the analysis process of mergers and acquisitions. Can they use the same approach in analyzing a target of a friendly acquisition and a hostile take-over?
louise’s cafe bakes croissants that are sold to local restaurants and grocery stores in the columbia, south carolina are, when 60 croissants are baked, the average cost is $.70. when 720 croissants ar…
When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. What amount should have been reported for the land on a co
. ACTIVITY 2: BASIC ACCOUNTING ASSUMPTIONS (page 13) Directions: Identify the underlying accounting assumptions using the indications below. 1. Significant trading losses incurred for consecutive ye…
“A bank reconciliation should be prepared…
when an employee is suspected of fraud.
by the person who is authorized to sign checks.
whenever the bank refuses to lend the company mone”
“Determine sample size based on the following audit judgments.
Tolerable misstatement is assessed at $325,000.
The risk of incorrect acceptance is assessed at 37 percent.
Anticipated missta”
Ramon is in the business of buying and selling securities. Which of the following is a capital asset for Ramon? a. The securities he buys and sells each day in the normal course of business. b. The se
“The following materials standards have been established for a particular product:
Standard quantity per unit of output 3 pounds
Standard price $14.”
a friend of yours says ” I understand there are rules for financial reporting. But what are these rules, where can a person find them, and which ones are more important?”
hello please help answer the attached ASAP. within 45 minutes Question: A proposed project will cost $600,000 and will provide returns of $150,000 in Year 1, $300,000 in Year 2, and $500,000 in Year 3…
discuss the conflict between the need for personal pravacy and confidentiality in banking transactions and the need for government to curtail money laundering activities
18) The City of Sycamore has investments in bonds. These bonds have an amortized cost of $998,000 and a market value of $1,001,000. The market value is quoted and available in the financial press. The…
will not pay 20 dollars for this. Question 1 Which one of the following is primarily interested in the liquidity of a company? Shortterm creditors Federal government Longterm creditors Stockholder…
“choose the best answer
have three free questions for today
The principle managers follow when they only investigate significant departures from the plan is commonly known as
small amounts d”
“Nicki’s Pet Supply needs to estimate its ending inventory. Using the data below, compute
Nicki’s estimated cost of ending inventory for the month of April. Explain how you reached
your answer.
…”
“The Gradison Corporation had the following classes of stock outstanding as of December 31, 2011:
Common stock, $20 par value, 20,000 shares outstanding
Preferred stock, 6 percent, $100 par value, cu”
“Hi Professor! The following assignment DUE DATE: NOV 20/2010
Please read instructions carefully!
Writing Assignment: Prepare a report (3 pages long) on the topic of:
How the Sabarnes-Oxl”
The following product line information is for the Swiss Watch Company. The company is considering dropping its Children’s product line due to poor operating income performance. Fixed expenses are allo
“Caldwell Manufacturing Company prepared a static budget of 120,000 direct labor hours, with estimated overhead costs of $480,000 for variable overhead and $90,000 for fixed overhead. The actual acti”
What would you do if your business had solvency issues? Would it matter as much to internal as external users?
A company uses a job order cost accounting system and applies overhead on the basis of direct labor cost. At the end of a recent period, the company’s Goods in Process Inventory account appeared as fo
When will my accounting question from yesterday get answered?
“Which of the following is not an objective of financial reporting?
Financial reporting should provide information that is useful to present and potential investors and creditors and other users”
“I really don’t understand these following problems. Can you please help me?
#2: Transaction Analysis 40 pts
a Analyze the effects of the following transactions on the accounting equations (Re”
“Company A hired Samson & Delilah, CPAs, to audit the financial statements of company B and deliver the report to Megabank. Who is the client?
Samson & Delilah.
Company A.
Com”
Ira Cook is planning to make a charitable contribution of Crystal Inc. Stock worth 20,000 to boy Scots. The stock has adjusted basis of 15,000. A friend has suggested that Ira sell the stock and contr
“””On January 2, 2009 Grant Corporation leases an assets to Pippin Corporation under the following conditions:
Annual lease payments of $10,000 for twenty years.
At the end of the lease term the”
On January 1, 2011, Foley Company (as lessor) entered into a noncancelable lease agreement with Pinkley Company for machinery which was carried on the accounting records of Foley at $4,530,000 and had
need help on Closing Entries and a Post-closing Trial Balance INSTRUCTIONS: CheckPoint: Closing Entries and a Post-closing Trial Balance Instructions (a) Journalize the closing entries at April 30. (b…
Briefly – in 150 words or less – describe the effect of cost structure on profitability, including recommendations for each company given the current economic environment, as you understand it.
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a letter explaining how you plan to begin the audit process.
WELD Company had the following information regarding installment sales. Installment sales: 2004: $300,000; 2005: $250,000; cost of installment sales: 2004: $180,000; 2005: $160,000; cash collected on …
“- Lopez Company began operations in 2006. Since then, it has reported the following gains and losses for its investments in trading securities on the income statement:
2006 2007 2008″
Pell Company acquires 80% of Demers Company for $500,000 on January 1, 2010. Demers reported common stock of $300,000 and retained earnings of $210,000 on that date. Equipment was undervalued by $30,0
What are some major problems in forecasting cash?
Principles of accounting Essays 1. When answering the written response questions, please follow these requirements: a. Your answer to each written response question should contain a minimum 200300 w…
Cooper Construction Company had a contract starting April 2010, to construct a $9,000,000 building that is expected to be completed in September 2012, at an estimated cost of $8,250,000. At the end of
ABC Company and XYZ company are identical firms in all respects except for their capital structure. ABC is all equity financed with $600,000 in stock. XYZ uses both stock and perpetual debt its stock
text book Chapter 17 South-Western Federal Taxation Corporations, Partnerships, Estates & Trusts. 2010 ed problem 3″ Tax return problem 3. “Lucian A. Todd died on June 6, 2008, at Nicollet County Gene
“Where is the actuarial liability shown in a Comprehensive Annual Financial Report for a pension trust fund?
The Statement of Fiduciary Net Assets.
The Schedule of Funding Progress (RSI).
T”
“provide the appropriate Accounting Standards Codification (ASC) citation:
Accounting treatment for Held to Maturity Securities (old SFAS No. 115)”
. Sheldon owns 600 shares of the 1,000 shares outstanding of Hawk Corporation (E&P of $500,000). The remaining stock in Hawk is owned by several shareholders unrelated to Sheldon. In the current year,
The Shine Company installs a special machine for polishing cars at one of its outlets, on the first day of the fiscal year. The machine costs the company $20,000, and its annual cash operating costs t…
“Derrick Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 6%, compounded annually. (Hint: Use tables in text.)
If Lee plans to establ”
“Which of the following would be considered a “”use”” of cash for purpose of constructing a statement of cash flows?
selling the company’s own common stock to investors.
issuing long-te”
“Problem
Knoxville musical sales, Inc. is located at 5500 Kingston Pike, Knoxville , TN 37919The corporation uses the calendar year and accrual basis for both book and tax purposes. It is engaged in”
Managerial Accounting 4e JAMES JIAMABALVO, Chapter 12, Case 12-1 Home Value Stores- solution
COMPANY B INCLUDES ONE COUPON IN EACH BAG OF DOG FOOD IT SELL. IN RETURN FOR 3 COUPONS SUTOMERS RECEIVE A DOG TOY THAT COST THE COMPANY $1.50 EACH. THE COMPANY’S EXPERIENCE INDICATES THAT 60 % OF THE
18) Brumlow Company has a contribution margin ratio of 25%. The company is considering a proposal that will increase sales by $100,000. What increase in profit can be expected assuming total fixed cos
“Capacity is extremely important for an organization to function effectively and efficiently.
How do we ensure that we have the correct capacity?”
“A company has the following per unit original costs and replacement costs for its inventory:
Part A: 50 units with a cost of $5, and replacement cost of $4.50
Part B: 75 units with a cost of $6, and”
For each of the following cases indicating heightened fraud risk, indicate (a) how a professionally skeptical auditor might interpret the data and (b) how a professionally skeptical auditor might addr…
“26) In governmental fund statements revenues are reported by ________ and expenditures are reported by _______ and by _________.
Source, character, function
Source, source, character”
“In a period of falling prices, which of the following methods will give the highest net income?
FIFO
Specific identification
Average-cost
LIFO
Thank you!!!”
“You asked:
“”Ashford University ACC 202 Problems 10-20, 11-21, 11-25(Part 1) and 11-28.
10-20
Hoen Manufacturing Company experienced the following accounting events during its first year of”
Windsor Company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is
A firm had no work in process at the beginning of a month. It transferred 4,000 units to finished goods during the month, and 500 units were still in process at the end of the month. Equivalent prod
“14) When a particular job is completed in a job order cost system, the general journal entry would include a
debit to Finished Goods Inventory and a credit to Work in Process Inventory.”
A corporation reported a net income of $90,000 for its fical year and declared and paid cash dividends of $60,000. A stock dividend recorded at $30,000 was also distributed during the year. If the b
This midterm consists of 4 pages. Please verify that you have the requisite number of pages. By signing above you attest that you have verified that you have all the pages to this exam. Circle the BES…
Governmental fund types, it assumed that budgets are prepared on the modified accrual basis. Examples also assume that the perspective of the budget is the fund, and that the revenue budgets are prepa
Advertising cost is fixed or valuable? I’m confusing
Need help solving these accounting problems. Module 6.3 Part 2 of previous screen shot: Part 2 of previous screen shot: Part 2 of prev screen shot: Part 2 of prev screen shot: Part 2 of prev screen sh…
Chase Corp sold 200, $1,000, 6.5 percent bonds at 105 on March 1, 2006. Each bond has 10 warrants attached, and each warrant allows its holder to purchase one share of $1 par value common stock at $10
“A segment of a business reported a contribution margin of $36,000 and controllable fixed costs of $12,000. If the segment had been eliminated, the company-wide net income would have been:
a)$12,000″
“can you make little note on how you got the answer please
thanks”
“Find true statement(s):
Analysis of profitability of a company is more important when considering short-term liquidity than when considering long-term solvency of a company.
If a company”
List the corrections needed to present in good form the balance sheet below. Errors include misclassifications, lack of adequate disclosure, and poor terminology. Do not concern yourself with the arit…
Why would you set matarially for overstatements lower than for understatements in a current asset account.
Please find attach: Please show work. 1) CPA is a newly established janitorial firm, and the owner is deciding what type of checking account to open. CPA is planning to keep a $500 minimum balance in …
Marlene Grady and Pauline Monroe are partners engaged in operating The G& M Doll Shop, which has emloyed the following persons since the beginning of the year:1) Hoffman…$1.700 per month2) Drugan…
“1.
(Points: 2.5)
Expense A is a fixed cost; expense B is a variable cost. During the current year the activity level has increased, but is still within the relevant range. In terms of cost per”
Problems P3-5 & P3-9 in Ch.3 of Intermediate Accounting
Hi I have One Case about internal auditing … There a questions about the case it is 9 questions .. but I want uyou answer just 2 question which is the easier question in the case A and B .. And also…
“Silver Company set the following standard costs for one unit of its product.
Direct materials (5.0 Ibs. @ $5.0 per Ib.) $25.00
Direct labor (1.6 hrs. @ $13.0 per hr.) 20.80
Ove”
“Missouri company has a current production capacity level of 200,000 units per month. At this level of production, variable costs are $0.50 per unit and fixed costs are $0.50 per unit. Current monthly
“Activities and Cost Drivers
For each of the following activites, select the most appropriate cost driver. Each cost driver may only be used once.
Activites
Pay Vendors
Evaluate Vendors
I”
The ABC Corp. had net income before taxes of $400,000 and sales of $2,000,000. If it is in the 50% tax bracket its after-tax profit margin is:
“Number 1 on page 292
Sensitivity Analysis and Break-Even Point We are evaluating a project that costs $948,000,
has an eight-year life, and has no salvage value. Assume that depreciation is st”
Your company is in financial trouble and is in the process of reorganizing. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this as
Evaluate and discuss how the Walt Disney Company could benefit by analyzing future projects in terms of net present value. This discussion should include the firm’s future plans, such as, expansion,…
“1. To help the marketing manager prepare for her presentation, she has asked you to fi ll in the blanks in the following table. The selling prices in the table were computed by successively decreasin…
“Heathrow issues $200,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31st. The bonds are issued at a price of $1,728,224.
Required:
Prepare”
Lance brothers enterprises acquired $7200 of 3% bonds, dated July 1, on July 1, 2009, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity. The
In a period of falling prices, which inventory method generally provides the greatest amount of net income?
“Find true statement(s):
You would expect a lower current ratio in the future if the firm has just adopted JIT (Just in Time) inventory methods and tighter cash management controls.
The br”
What is Bank of America Corporation’s percentage of the accounts receivable balance to total assets for the last two years?
What are some of the lifestyle changes that may indicate fraud and unreported income?
On December 31, 20×7, Voss Corporation had 150,000 shares of common stock issued and outstanding. On October 1, 20×8, an additional 20,000 shares of common stock were issued for cash. During 20×8, Vos
Burger Corp has $500,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $600,000, and its net income after taxes was $25,000. Stockholders recently
“3) A company issues 10 year 8% bonds having a par value of $2 million dollars. The interest on the bonds is paid quarterly on March 31st, June 30th, September 30th, December 31st.
The proceeds to”
Bilbo Company evaluates its managers on the basis of return on investment (ROI). Division Three has an ROI of 15% while the company as a whole has an ROI of only 10%. Which of the following performa
“Accounting Class 350
The president believes that a $16,000 increase in the monthly advertising budget, combined with an intensified effort by the sales staff, will result in an $80,000 increase in mo”
“Hello,
I need to get the solution manual for my book. It’s called Accounting Tools for Business Decision Making Kimmel 3rd Edition, 2nd value. Please any HELP?”
“LeAnn wishes to know how much she should set aside now at 7% interest in order to accumulate a sum of $5,000 in four years. She should use a table for the: (Points : 1)
Present value of 1.”
A Transport, Ltd., operate a fleet of delivery trucks in Hong Kong. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4 cents per
Please anyone with me with this excel assignment accounting Clark Paints: The production department has been investigating possible ways to trim total production costs. One possibility currently being…
“24. LO.5, 6 The profit and loss statement of Strategy, Inc., an S corporation, shows net
profits of $101,000 (book income). The corporation has three equal shareholders. From
supplemental data, you”
in LIFO,FIFO petperual system, what is the different between “keep in units only, and keep in dollars”?
“compose 1-2 pape letter to a former teacher in which you do the following.
Demonstrate the characteristics of academic communication in your letter.
Explain the relationship among and bx”
“1. T F A temporary difference is the difference between the tax basis of an asset or liability and its reported amount in the financial statements that will result in taxable amounts or deductible a”
“Warranties.
Miley Equipment Company sells computers for $1,500 each and also gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective part”
Macready Company is considering introducing a new compact disc player model at a price of $105 per unit. Macready’s controller has compiled the following incremental cost information based on an esti
What methods of accounting are available to a small business and to a large business
On June 1, 2009, Blue Co. distributed to its common stockholders 200,000 outstanding common shares of its investment in Red, Inc., an unrelated party. The carrying amount on Blue’s books of Red’s $1 p
On october 1, sam’s painting service borrows $50,000 from national bank on a 3 month, $50,000, 4% note. What entry must sam’s painting service make on december 31 before financial statements are p
The income statement and the balance sheet are produced using a worksheet, but a consolidated statement of cash flows is not. What process is followed for preparing a consolidated statement of cash fl
“Was hoping I could get the answers to the musimundo case. Question where as follows:
MUSIMUNDO
Describe the strategic content in which Quintana should judge Musimundo’s perfo…”
During the year, the company purchased equipment through the issuance of common stock. The stock had a par value of $135,000 and a fair market value of $450,000. The fair market value of the equipment
“Your homework exercises:
Exercise 13-2
An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts …”
“corporation has provided the following production and average cost data for two levels of production volume. the company produces a single product.
production volume…. 4000 units 5000 un”
Explain the following in a short memo to your instructor. 1. The comparative advantages and disadvantages of ideal versus normal standards. 2. The factors that should be included in setting the price …
hello, read the Reliant company and answer the q . there is example in the file which is zingg energy drink and it is similar to Reliant co Rar!###Ïs#########Æt G#x####|###æbÇ#u?#3"…
Lake Shuttle Inc. is considering investing in two new vans that are expected to generate combined cash inflows of $20,000 per year. The vans’ combined purchase price is 65,000. The expected life and…
“1. A system of accounting for production operations that uses a periodic inventory system is called a:
Manufacturing accounting system.
Production accounting system.
General accounting”
WHICH OF THE FOLLOWING IS TRUE ABOUT THE ASSUMPTIONS UNDERLYING BASIC CVP ANALYSIS?
17-12 How could a hospital firm use the mix variances to analyze salary costs regarding emergency room services?
Can you help with this problem, its a review for a final COMPREHENSIVE PROBLEM 1, PERIOD 2: THE ACCOUNTING CYCLE Bob Night’s fishing camp, “The General’s Favorite Fishing Hole,” is in the seco…
Answers to Klooster & Allen’s Bath Design Practice Set.
Refer to Target Corporation’s financial statements (http://investors.target.com/phoenix.zhtml?p=irol-irhome&ref=nav%5Ffooter%5Finvestors&c=65828) . Target Corporation is currently seeking additional c…
“during the current year, Paul, the Vice president of a bank, made gifts in the following amounts:
To sarah (Paul’s personal assistant) at christmas, $36
To Darryl ( a key client) – $3 was for gift”
PROBLEM #4 (25 points) The following information is budgeted for Nutmeg Plumbing Supply: July August September Sales $110,000 $130,000 $ 180,000 Unit demand 40,000 50,0000 38,0000 Merchandise purchase…
How do declines in unearned revenue impact a company’s future earnings outlook?
13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separa…
“In this module, we are going to review your organization (Starbucks) and its treatment of allocated costs.
Retrieve any report in the organization that allocates common costs to a division, product”
Provide reasons for and against intercompany transactions.
“Part Ten
Big Al’s Pizza Emporium, a subsidiary of Big Al’s Pizza, Inc., has decided to sell frozen
pizzas in its restaurants. Restaurant customers will take these pizzas home and
cook t…”
“Conrad Corporation has a June 30 year end. What is the MACRS depreciation percentage
deduction for the first year for a five-year asset acquired October 15 under the mid-quarter
35%”
“Elder Corporation incurred the following transactions.
Purchased raw materials on account $52,100.
Raw Materials of $37,900 were requisitioned to the factory. An analysis of the materials requis”
“13. SML and WACC An all-equity firm is considering the following projects:
PROJECT BETA EXPECTED RETURN
W .75 11%
X .95 13%
Y”
You have finally saved $10,000 and are ready to make your first investment. You have three following alternatives for investing that money:1. A CBS Bond with a par value of $1,000, an interest rate of
Dyna Corporation had cost of goods sold of $300,000 for the current year ended December 31 and an ending inventory balance of $50,000. The beginning balances in inventory and accounts payable were $20
Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is ? = 0.55 and the alternate is ? ? 0.55.
“Scully Corporation’s comparative balance sheets are presented below.
SCULLY CORPORATION
Comparative Balance Sheets
December 31
2010
2009
Cash $14,300 $10,700
Accounts recei”
“Journalize the following transactions assuming a perpetual inventory system:
May 5
Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30.
Prepaid freight costs of $100″
open file. 1. Terry Smith and two of his colleagues are considering opening a law office in a large metropolitan area that would make inexpensive legal services available to those who cou…
James, Inc. incurred the following infrequent losses during 2012: A $140,000 write-down of equipment leased to others. A $80,000 adjustment of accruals on long-term contracts. A $120,000 w…
BE13-3 On May 10, Mazili Corporation issues 2,000 shares of $10 par value common stock for cash at $18 per share. Journalize the issuance of the stock. (List multiple debit/credit entries in descendin…
I ahve attached the homework question for your review. I need all of the work for my instructor. Please place it in the format as per the homework assignment. Thank you for you support, Desperate stud…
“(Issuance of Bonds with Stock Warrants)
On May 1, 2010, Barkley Company issued 3,630 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds w”
Calculations of ROI, ROE, and ROA, from the data. A B C D 21 REVENUE 22 23 Pasword Check Quantity 24 Amount 25 Repeat Business Quantity 26 Amount 27 Spybot Related Services Quantity 28 Amount 29 Repea…
“3. Given the preceding values, compute the average of the projected returns on beginning investment balances for the first five years of Acme’s investment in PHC. What is the maximum Acme can pay …”
A corporation has 1,000 shares of 10%, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling
“CompTronics, a manufacturer of computer peripherals, has excess capacity.ÂÂThe company’s Utah plant has the following per-unit cost structure for item no. 89:
Variable manufacturing $40
Fixed …”
Exercise 10-1 Setting Standards; Preparing a Standard Cost Card [LO1] Svenska Pharmicia, a Swedish pharmaceutical company, makes an anticoagulant drug. The main ingredient in the drug is a raw materia…
Using the column headings (attached in the spreadsheet, show the effect, if any, of the transaction on each financial statement category by indicating whether it is an addition (+) or subtraction (-) …
discuss the reasons that Chinese accounting developed differently from Eastern European accounting in the 1990s
As CFO, what programs would you suggest that would help with employee retention?
Palmer Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 boxtops from Palmer Frosted Flakes boxes and $1. The company estimates that 60% of the boxtops will be r
I have a case study that is due tonite by 11:59pm. I have attached all of the required material needed to derive at the answers (includes letters a-g that are needed to be answered). The grading rubri…
P3-1A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008. The trial balance at June 30 is shown on page 129.MASASI COMPANY, INC. Trial Balance June 30, 2008 Account Num…
“Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 5% bon”
“for a major university, match each cost in the following table with the activity base most appropriate to it. an activity base may be used more than once, or not at all
cost
housing personal wage”
“Journalize the following transactions using the allowances method of accounting for uncollectible receivables.
June 10 Received $1,100 from Jim Dobbs and wrote off the remainder owed of $4,000.”
An account balance is $300,000 and there are 25 items in the account, six of which have balances that equal or exceed $15,000. The auditor plans to use a monetary-unit sampling plan with systematic sa
“They are both the same questions. I just sent you the document format in case it was easier for you to view.
Thanks!”
Ring Company allocates the net cost of the company cafeteria to production departments using the direct method based on the number of employees in each department. The four production departments in t
Fashions, Inc. is a retail store that sells sweaters and jackets. In the past, it has bought all its sweaters from a supplier for $20 per unit. However, Fashions has the opportunity to acquire a smal
how much will you charge me for all this questions attached multiple choice. 1. (TCO 4) The margin of safety is the difference between total revenue and total fixed costs. expected level of sales and …
When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $23,000 and its estimated salvage value is $1,500. After 4 years of straight-line depreciation, the asset
What are opportunity costs and why are they often the most difficult costs to analyze in decision making?
Employees earn $5,000 per day, work five days per week, Monday through Friday, and get paid every Friday. If the previous payday was January 26 and the accounting period ends on January 31, what amoun
“xacc/280 week 4
CheckPoint: Subsidiary Ledgers and Special Journals
Explain in 250 to 300 words, your answers to the following:
What are the advantages of the four different special …”
(TCO A) Listed below are several information characteristics and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application. (Points: 30
Assignment: Critiquing Philosophical Approaches to Ethical Decision Making • Review each of the responses you wrote in Appendix B. • Write a 900- to 1,350-word paper in which you critique each …
“Indicate the nature of the possible fraud or embezzlement in each of these situations.
Wages expense for a branch office was 30 % higher in 2010 than in 2009, even though the office was authorize”
“With the time and material pricing method, the hourly time charge is typically set equal to:
the hourly labor cost.
the hourly labor cost + annual overhead.
the hourly labor cost + an hour”
“The existence of diversified companies makes which of the following very difficult?
Comparison with industry norms
The preparation of interim financial statements
Use of more than one de”
Strongsville Company wishes to earn after-tax net income of $18,000. Total fixed costs are $84,000, and the contribution margin per unit is $6.00. Strongsville’s tax rate is 40%. The number of un…
“Joe Brown invests $10,000 into his new business. How would the journal entry for this transaction be entered in the journal?
Cash 10,000
Brown, Capital”
“15
Carlton Company sells office equipment on September 30, 2010, for $24,412 cash. The office equipment originally cost $76,982 and as of January 1, 2010, had accumulated depreciation of $43,492. D”
“ABC Company’s total overhead costs at various levels of activity are presented below:
Machine Hours Total Overhead Costs
March 60,000 $216,800
April ..”
Write a 500-700 word paper responding to questions 1 and 2 of the Candela Corporation Case. Please see attached.
“Segment reporting requires disclosure of each customer that accounts for more than 5% of total enterprise revenue.
True or False”
If you were looking at two companies and one had a large amount of debt and the other didn’t, would you choose the one without debt? Always? What else might you consider?
“3. Hayes Corp. is a manufacturer of truck trailers. On January 1, 2011, Hayes Corp. leases ten trailers to Lester Company under a six-year noncancelable lease agreement. The following information abou”
The management of a liquid cleaning product company is trying to decide whether to install a job or process costing system. The manufacturing vice president has stated that job costing gives the best
The text International Finance, Chapter 3, problem 3 asks us to construct a spreadsheet to compare cash flows resulting from 2 plans.
“1. Extraordinary items and special items are reported
With normal recurring general revenues.
As separate line items below General Revenue in the statement of activities.
As separate li”
“Garrison corporation transfers unimproved land to Rucker Corporation and receives in exchange improved land with FMV of 600,000 and 250,000 of cash. Rucker’s adjsuted basis in the imporved land is 75
payroll & accounting 2010 chapter 7 project JOURNAL DATE 20– Oct. DESCRIPTION 9 Payroll Cash Cash Page 41 POST. REF. DEBIT 12 11 9 Administrative Salaries Office Salaries Sales Salaries Plant Wages F…
Hello: I get trouble during I answer the questions include in the document which I attach. Could you help me to finish those questions I list in the ducoment?Thank you very much. FASB Financial Accoun…
a not-for-profit entity raises funds to support specific programs, services, and activities. The recipients of the programs, services, and activities are fequently not the providers of the resources t
On August 1, 2010, Dambro Co. acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2010, and mature on April 30, 2016, with interest paid each October 31 and April 3
Inventoriable costs for external reporting purposes are also called: a)direct manufaturing costs,b) variable costs,c) products costs,d) period costs
“Alternative Investment Methods, Goodwill Impairment, and Consolidated Financial Statements
In this project you are to provide an analysis of alternative accounting methods for controlling interest in”
Discuss at least two reasons why a forensic accountant may need to know about viruses, denial of service attacks, foregoing email, and unauthorized computer access.
The substitutability of a particular good/service can play havoc on a company’s sales. This is formally defined as elasticity of a good/service. The elasticity/substitutability changes for 4 reas…
“Two types of liability, contract and warranty, are imposed on parties to a negotiable instrument. Which of the following statements about liability is false?
Accommodation parties and agents”
The debits to Work-in-Process for Department #2 for the month of April of the current year, together with information concerning production, are presented below. All direct materials come from Departm
24) A governmental funds Statement of Revenues, Expenditures and Changes in Fund Balances reported expenditures of $30 million, including capital outlay expenditures of $2 million. Capital assets for
“Below are listed various costs that are incurred by various business entities:
Commissions paid to Avon representatives
Recurring advertising costs by a physician’s office
The cost of hardware …”
“””13-70 Inventory Measures, Production Scheduling, and Evaluating Divisional
Performance
The Calais Company stresses competition between the heads of its various divisions, and it rewards
stellar pe”
Nenn Co.’s allowance for uncollectible accounts was $95,000 at the end of 2010 and $90,000 at the end of 2009. For the year ended December 31, 2010, Nenn reported bad debt expense of $13,000 in its i
“8. (Opportunity Cost and Economic Rent) Define economic rent. In the graph below, assume that the market demand curve for labor is initially D1.
What are the equilibrium wage rate and level of”
The risk-free rate is 6%, the expected return on the first factor (r1) is 12%, and the expected return on the second factor (r2) is 8%. If bi1 = 0.7 and bi2 = .09, what is Crisps required return?
Woodscross LLC had the following events occur during the month of July. 1. Receivd $40,000 from investors for contributed capital 2. Borrowed $15,500 from the bank 3. Paid $4,100 for rent 4. Made sale…
“1.Identify and briefly explain the two main categories of fraud which are of major concern to auditors. Thank you.
What are the four defenses a CPA firm can normally use when facing legal claims”
Under what circ*mstances would Riley Co. consider calling the bonds?
A clothing manufacturing corporation donates last year’s inventory to the Red Cross for use in its disaster relief efforts. The clothes have a fair market value of $200,000 and a basis to the cor…
“””Corporate Tax Multiple Choice Question:
X Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals):
A Cash: $70,”
Payroll Accounting 2010 Edition. Chapter 7 answers
Shirley Inc produces and sells two products. During the most recent month, Product X sales were $25,000 and its variable expenses were $5,750. Product Y sales were $40,000 and its variable expenses we
An improvement made to a machine increased its fair market value and its production capacity by 25% without extending the machine’s useful life. The cost of the improvement should be
What are opportunity costs and why are they often the most difficult costs to analyze in decision making?
On December 31, 20×7, Voss Corporation had 150,000 shares of common stock issued and outstanding. On October 1, 20×8, an additional 20,000 shares of common stock were issued for cash. During 20×8, Vos
In recent months there have been many news stories in the press about executive compensation with stock options. This type of compensation occurs when an executive is granted the “option” to purc…
The president believes that diversity in accounting practice will always exist among independent entities despite continual improvements in comparability. Discuss the arguments that support his belie
“25. Riley Co. incurred the following costs during 2013:
Significant modification to the formulation of a chemical product $160,000
Trouble-shooting in connection with breakdowns during commerci”
“. Walman Company is budgeting sales of 42,000 units of product Y for March 19X3. To make
one product of Y, three kilograms of direct material A are required. Actual beginning and
desired”
. A company purchased a machine for $75,000 that was expected to last 6 years and to have a salvage value of $6,000. At the beginning of the machine’s fourth year the company decided that the machine’
See attached. There’s just not enough info available (to me) to figure this problem out. Can you help? Name: Class: MT-425 Managerial Financial Accounting Date: 11/24/2010 PROBLEM 3-8. Production Cost…
Individual Income Taxes 2011 I would like to have the tax return problem solution in appendix E (Individual Income Taxes 2011). Prepare an income tax return (with appropriate schedules) for the Halls …
“Problem: Outsourcing decision
Roaming Bicycle Manufacturing Company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales.”
I would like to get the answers for these multiple choice questions and the 1 short answer question. Finley Company recorded the following cash transactions for the year: Paid $90,000 for salaries. Pa…
tomorrow May 16 will be fine but I do not want to be charged again for this question-I have submitted on two occasions and the only way to respond to you is to put my credit card info in again. I will…
John, the sole owner of LV Co., transfers equipment to LV Co. in return for 100 shares of its stock and $10,000. The stock is worth $70,000. John bought the machine several years ago for $60,000 and i
Obtain an annual report for a large corporation and perform a quality of earnings assessment.
“White Corporation (E&P of $300,000) has 5,000 shares of common stock outstanding. The shares are owned as follows:
Belinda Markey: 2,000 shares
Lucian Markey (Belinda’s son): 2,000 share…”
“TRUE OR FALSE
To record the amortization of a premium on a bond investment, Investment in Bonds would be debited and interest revenue would be credited?
Any gains or losses on the sale of”
Tad is a vice-president of Ruby Corporation. In 2010, he acquired 1000 shares of Ruby Corporation stock under the corporation’s incentive stock option (ISO) plan for option price of $43 per share. At
“Below is information for year ended 12/31/00 for Company A and Company B. Use this information to solve the Questions 1, 2, 3, and 4 below:
—Company A—
Interest expense: $ 400
Tax expense”
“2) CPA is a newly established janitorial firm, and the owner is deciding what type of checking account to open. CPA is planning to keep a $500 minimum balance in the account for emergencies and plans”
“””This is a new question
Purchased tract of land in exchange for 10,000 cash down payment and a noninterest bearing note requiring five 10,000 annual payments, with the first annual payment in one”
“My assignment about accounting Cash budgeting
i will attache the assignment and write it down too, also i
will upload excel sheet and i want the answer of this assignment inside the excel.
FI504″
You have been employed as an entry-level management accountant for a little under a year. You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company a
Diamond Company is considering investing in new equipment that will cost $600,000 with a 10-year useful life. The new equipment is expected to produce annual net income of $40,000 over its useful life
Pia and Ramona are partners who share income in the ratio of 3:2. Their capital balances are $80,000 and $120,000 respectively. Income Summary has a credit balance of $40,000. What is Pia’s capit…
“1. Why does the equity method record dividends received from an investee as a reduction in the investment account, not as dividend income?
Jones Company possesses a 25 percent interest in the ou”
5-7 The Village of Harris issued $5,000,000 in 6 percent general obligation, tax-supported bonds on July 1, 2008, at 101. A fiscal agent is not used. Resources for principal and interest payments are …
see the attch Selected comparative financial statements of Astalon Company follow: Sales Cost of goods sold Gross Profit Selling expenses Administrative expenses Total expenses Income before taxes Inc…
Jackie’s is a large, locally-owned general retail business operating out of a single location. A condensed version of their most recent annual segmented income statement is given below (all amounts …
On a balance sheet, natural resources may be described more specifically as all of the following except
“Crew Corporation elects S status effective for tax year 2009. As of January 1, 2009, Crew’s assets were appraised as follows.
Adjusted Basis Fair Market Value
Cash
Accounts receivable
..”
FASB rules do not allow for ht keeping of two different sets of accounting records. Ethics maintain that there should be only one set of accounting records and that it be comprehensive. It is also ill
“Find true statement(s):
When a firm that has been paying dividends on its common stock since it was originally issued decides not to pay dividends for several periods, it is correctly
called a”
Do you think the recommendations put forth in the Exposure Draft are likely to be successful or not? If successful, what are the most significant attributes? If not successful, what are the critic…
I do not understand problem 10-5 preparing a post closing trial balance
“your investment advisor wants you to purchase an annuity that will pay you $25,000 per year for 10 years. If you require a 7% return, what is the most you should pay for this investment?
Bobby Joe”
“Cambridge, Inc. is considering the introduction of a new calculator with the following price and cost characteristics:
Sales price $18 each
Variable Costs $10 each
Fixed costs 20,000 per month”
“1 During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,600,000. Calculate the maximum depreciation expense during the current year?
A”
For credit analysis, is the focus on the company’s growth or liquidity and why?
“Red Onion Restaurant classifies a six-month prepaid insurance policy as a current asset. Its rationale is based on:
materiality
operating cycle
definition
liquidity”
There are questions at the end of the case study that must be answer in detail. The Leslie Fay Companies Paul Polishan graduated with an accounting degree in 1969 and immediately accepted an entryle…
P&G reports no allowance for doubtful accounts, suggesting that bad debt expense is not material for this company. Is it reasonable that a company like P&G would not have material bad debt expense? Ex
TCO F) The following information is taken from French Corporation’s financial statements: December 31 2011/ 2010 Cash $90,000 $ 27,000 Accounts Receivable 92,000 80,000 Allowance for Doubtful Accounts…
Leah transfers equipment(basis 400,000 and fair market value of 500,000)
Management is considering replacing its blending equipment. The annual costs of operating the old equipment are $250,000. The annual costs of operating the new equipment are expected to be $220,000. T
In the month of November, Hickcox Company Inc. wrote checks in the amount of $9,072. In December, checks in the amount of $11,987 were written. In November, $8,468 of these checks were presented to th
The CEO attended a conference that presented the topics of Economic Value Added (EVA), Balanced Scorecard, and Activity Based Costing. He has come to you wanting more information about these three top
Medlock uses a perpetual inventory system. It’s beginning inventory consist of 50 units that cost $34.00 each. During June the company purchased 150 units at $34 each, returned 6 for credit and sold
“Budgeted profit, what-if analysis
The Monteiro Manufacturing Corporation manufactures and sells folding umbrellas. The corporation’s condensed income statement for the year ended December 31, 200″
“Many firms are moving toward flexible manufacturing systems and adopting the just-in-time (JIT) philosophy.
Required:
How is cost behavior altered in the typical flexible manufacturing environ”
Ford was unable to repay a loan to city bank when due. city refused to renew the loan unless an acceptable surety could be provided. ford asked owens, a friend, to act as surety on the loan. to induce
Compare the relative value of common sets of evaluation criteria.
“Following are selected accounts for Green Corporation and Vega Company as of December 31, 2010. Several of Green’s accounts have been omitted. Green Vega Revenues $900,000 $500,000 cost of goods sold…
“I need the solutions for these 2 problems to help in my examination preparation.
thanks
Sample problem 4.
Lennox Industries manufactures two products: A and B.A review of the company’s accounti…”
Mercer Inc is preparing its annual budgets for the year ending December 31, 2008. Accounting assistants furnish the following data. Product Product LN 35 LN 40 Sales Budget: Anticipated Sales $300,000…
Please show me or tell me in a message how you got the answer thanks you Franco Corporation was organized on January 1, 2008. It is authorized to issue 1 shares of 8%, $100 par value preferred stock, …
Determine the price of a $1 million bond issue under each of the following independent assumptions: (Use Table 2 and Table 4). (Round “PV Factor” to 5 decimal places, intermediate and final answers to
For the Cook County Company, the average age of accounts receivable is 60 days, the average age of accounts payable is 45 days, and the average age of inventory is 72 days. Assuming a 365-day year, wh
“1.
Managerial accounting:
has its primary emphasis on the future.
is required by regulatory bodies such as the SEC.
focuses on the organization as a whole, rather than on the organ”
“Gage Corporation has two operating divisions in a semi autonomous organizational structure. Adams Division, located in the United States, produces a specialized electrical component that is an input
“As planning materiality is decreased, the auditor would most likely plan more tests of transactions to.
Find smaller misstatements.
Find larger misstatements.
Increase the tolerable”
“10. The spot rate of exchange, S(MXN/USD), between the Mexican peso (MXN) and U.S. dollar (USD) is MXN 11.95/USD and the 6-month futures rate is MXN 12.4328/USD. If U.S. interest rates are 5% per annu”
“#1 limon issued $ 400,000 face amount of 12 % bonds payable on january 1,2008 pay interest on july 1 and january 1 and mature in five years
#2 limon paid interest on the bond described in #1 above”
This is for CP5-1:Financial Reporting Project:Mini Practice Set out of Principles of Accounting. ISBN#978-0-07-352684-3 by Mcgrawhill. Do you have access to this or able to assist. I could type the
An enterprise that holds a variable interest in a variable interest entity (VIE) is required to consolidate the assets, liabilities, revenues, expenses, and noncontrolling interest of that entity if:
On January 1, 2010, Glenville Co. acquired an 80% interest in Acron Corp. for $500,000. There is no active trading market for Acron’s stock. The fair value of Acron’s net assets was $600,000 and Glen
“The CEO of your organization has asked your Learning Team to analyze the companies listed in Problem BYP13-4, of Financial Accounting: Tools for Business Decision Making.
Resources: Problem BYP”
Assignment is attached. Can you help with the questions? Carl Question 1 On January 1, 2011, Newlin Co. has the following balances: Projected benefit obligation $2,100,000 Fair value of plan assets 1,…
A hospital has to evaluate a budget request for a new boiler room. The hospital’s engineer has stated that if he does not have a boiler room, then three additional maintenance men should have to be h
(Q6-3) Suppose you believe that the economy is just entering a recession. Your firm must raise capital immediately, and debt will be used. Should you borrow on a long-term or a short-term basis? Wh
Merchandise with a sales price of $800 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a
Could you please help me on this. Thank you Please detail all the calculations. Thank you Some cars (about half) have oxidized paint (no shine) at the time wax is to be applied, requiring cleaning wit…
What three ratios would you list as the most important? Why? Which ratios would external users be most interested in? Why? Which ratios would best help internal users manage the business? Why? Beyond
Can financial statement users of not-for-profit hospitals’ financial statements expect to be fully informed regarding affiliated parties, such as the linkages between St. Jude Children’s Research Hosp
“9. When consolidating a subsidiary under the equity method, which of the following statements is true?
Goodwill is never recognized
Goodwill required is amortized over 20 years
Goodwill ma”
FACT PATTERN:On March 20, 2010, Jill and Jack entered into a contract for the transfer of real estate. Under the terms of the contract, Jill was required to execute a deed transferring her real estate…
A three-year $22,000 annual cash bonus with the first payment due three years from now.
company had net sales of $30,400 and ending accounts receivable of $3,800 for the current period. Its days’ sales uncollected equals.
Presented below are the financial balances for the Atwood Company and the Franz Company as of December 31, 2009, immediately before Atwood acquired Franz. Also included are the fair values for Franz C
On October 1, 2007, Lyman Co. purchased to hold to maturity, 200, $1,000, 9% bonds for $208,000. An additional $6,000 was paid for accrued interest. Interest is paid semiannually on December 1 and Jun
“11. The lesser may classify leases in one of several lease types. Which is not one of the types:
Sales-type leases
Operating leases
Direct-financing leases
Capitalization leases”
“Mixed cost, choosing cost drivers and high-low and visual fit methods
Cedar Rapids implements Company produces farm implements. Cedar Rapids is in process of measuring its manufacturing costs and is”
In 2005, Barlow moved from Chicago to Miami to start a new job, incurring cost of 1200 to move household goods and 2500 in temporary living expenses. Barlow was not reimbursed for any of these expens
“1. In periods of rising prices, the inventory costing method which results in the inventory value on the balance sheet that is closest to current cost is the
FIFO method.”
The controller of Gomez Corporation believes that company’s yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Gomez Corporation, nervous that the stockholders m
An acquired entity has a long-term operating lease for an office building used for central management. The terms of the lease are very favorable relative to current market rates. However, the lease pr…
A corporation paid $104,000 to retire bonds with a face value of $100,000 and an unamortized premium balance of $3,000. The entry to record the early retirement of the bondfs will include the recogni
A government had the following transfers reported in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances: (1) a transfer from the General Fund to a debt service fu
Fraud is a major concern in the business world. In a few paragraphs, discuss each corner of the fraud triangle and whether or not an individual can commit fraud if one part of the triangle is missing.
“Acquiring Corporation (A) has 50,000 shares of common stock outstanding (value — $10 per share) and
$500,000 of accumulated earnings and profits. Target Corporation (T) has assets with an aggregate”
“Pinnacle Manufacturing: Part VI
Part VI of the Pinnacle Manufacturing case covers analytical procedures and tests of details of balances for accounts payable.
Assume that the understanding of”
yes all my assignments are related and need to be answered
“3) Dyl Inc.’s bonds currently sell for $1,040 and have a par value of $1,000. They pay a $65 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,100. What is their yie”
“Equivalent units and related costs; cost of production report; entries
Blanco Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milli”
“Which of the following items is not includible in the decedent’s gross estate?
A lump sum distribution from a qualified profit sharing plan to decedent’s daughter who elects five year forward ave”
Stowers Research issues bonds dated January 1, 2011, that pay interest semiannually on June30 and December 31. The bonds have a $20,000 per value, an annual contract rate of 10%, and mature in 10 year
Today is December 10. The marketing manager has asked her division head whether she can reduce the selling price of product XYZ $15.00/unit to $11.00/unit for the rest of the month of December. Cutt
A company has a market value per share of $73.00. Its net income is $1,750,000 and the weighted-average number of shares outstanding is 350,000. The company’s price-earnings ratio equals: Answer 1. 20…
“As sales exceed the breakeven point, a high contribution-margin percentage
increases profits faster than does a low contribution-margin percentage
increases profits at the same rate as a low c”
“Optional Information:
Level/Year: Bs Accounting
Subject: Payroll Accounting II written by Bernard j. Bieg a
Already Tried:
Case Problem C1.Paychecks kept coming Ken, a salaried employee, was t”
“Which one of the following should be equal to the balance of the work in process inventory account at the end of the period?
The total of the amounts transferred from raw materials for the current”
Cedar Rapids Chemical placed 220,000 liters of direct materials into the mixing process. At the end of the month, 10,000 liters were still in process, 30% converted as to labor and factory overhead
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
“Which of the following statements is false regarding systematic risk? Select all that apply:
is always diversifiable
is the total risk associated with surprise events
affe”
“Employment discrimination is prohibited by Title V11 of the Civil Rights Act of 1964. Which of the following is least likely to be a viloation?
disperate treatment of an individual
a statist”
Evaluate and discuss how the Disney Company could benefit by analyzing future projects in terms of net present value. This discussion should include the firm’s future plans, such as, expansion, cons…
Dear Tutor… I am sending you ONE question and you reply that you can answer all of the questions for 30 dollars. It is JUST ONE question. What is not clear about it? It is ONE question. If you don’t…
“With regard to current GASB standards for pension reporting do the following:
Distinguish between (1) defined contributions plans and (2) defined benefits plans.
Distinguish between (1) agen”
The following transactions occurred at Jackson Hospital. 1. Under the will of Samuel H. Samuels, a bequest of $100,000 was received for research on gerontology. The principal of the bequest, as well a…
PROBLEM 13-18 Dropping or Retaining a Flight Profits have been decreasing for several years at Pegasus Airlines. In an effort to improve the company’s performance, consideration is being given to dr…
A company uses a predetermined overhead rate based on direct labor hours (DLHs) to apply manufacturing overhead to jobs. At the beginning of the year, the company estimated manufacturing overhead woul
“Fahrenheit Co. manufactures a product that requires the use of a considerable amount
of natural gas to heat it to a desired temperature. The process requires a constant level of heat,
so the f”
How many important Federal Rules of Evidence govern the testimony of an expert witness?
“Consider the following information pertaining to a year’s operations of Youngstown Manufacturing:
Units sold 1,400
Units produced 1,600
Direct labor $4,200
Direct materials used 3,500
Fixed man…”
“These statements can’t be right,” said Ben Yoder, president of Rayco, Inc. “Our sales in the second quarter were up by 25% over the first quarter, yet these income statements shows a precipit…
“Complete E4-4 on p. 177 of Financial Accounting. Use the templates in Appendix F and complete all three tabs.
Post the completed Appendix F as an attachment.”
Mazzoni, Inc. was organized on June 1 of this year, with a charter providing for authorized capital as follows: a. 6,000 shares of preferred 9 percent stock, $40 par value. b. 15,000 shares of no-par
How much will you need to invest today at 10% to have $10,000 six years from today?
Evidence that the monthly posting of the sales journal total has been accomplished is indicated by
“Michael,
I appreciate your quick response. I cannot extend the deadline. Thanks, but I will have to cancel my request.
Until next time,
Carin”
Is it necessary to always have rounding errors under the FIFO method in Process Costing?
“City Electronix sells television sets and DVD players. The business is divided into two divisions along product lines. CVP income statements for a recent quarter’s activity are presented below.
…”
“How to calculate the reasonable standby charge for automobile when the question doesn’t tell you the the days avaible or the days leased for the automobile.
Do I just assume that the days available”
Exercise 6-2: What accounting problem arises if an internal service fund is operated at a significant profit? What accounting problem arises if an internal service fund is operated at a significant lo
“ACCT 411 – Final Tax Return – 30 Points
Due: Date of Final
FACTS:
Susan and James Bunker are married and live at 1231 N. Broad St., Mankato, MN 56001. James is 65 and Susan is 60. James is …”
Welch Company, which expects to start operations on 1-1-2011, will sell digital cameras in shopping malls. Welch has budgeted sales as indicated in the following table. The company expects a 10% inc
“On May 10, a company issued for cash 1,500 shares of $2 par common stock at $14, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $58.
journalize the entries for may 10″
“Long-term investments are reported in the:
Answer
1)current asset section of the balance sheet.
2)intangible asset section of the balance sheet.
3)non-current section of the balance sheet c”
“Greg and Samantha plan to establish a business in which they will both materially participate.
They are both in the 35% marginal tax bracket. Although they expect the business to be very
successful”
Panda Corporation paid cash of $30,000 on June 1, 2012 for one year’s rent in advance and recorded the transaction with a debit to Prepaid Rent. The December 31, 2012 adjusting entry is
“2. The generally accepted method of accounting for gains or losses from the early extinguishment of debt treats any gain or loss as
an amount received or paid to obtain a new debt instrument and,”
“On May 8, 2008 Tec Manufacturing purchases $300,000 of five-year equipment and elected to
expense $100,000 under Sec. 179. In 2009 Tec sells the equipment for $250,000. MACRS
depreciation deductions”
“Consider the following scenario:
The Ski Pro Corporation, which produces and sells to wholesalers a highly successful line of water skis, has decided to diversify to stabilize sales throughout the y”
Govoni Corporation is a specialty component manufacturer with idle capacity. Management would like to use its extra capacity to generate additional profits. A potential customer has offered to buy 9,5
Apple Blossom 5th ed. Assignment 8…Having trouble. i have the flow chart, but the rest of the A and B assignment are beyond me.
“4. Use the information below on Milner Sisters Inc. to answer the problems below:
Common Stock
Milner Sisters has 50,000 shares of common stock outstanding at a market price of $28 a share. Curre”
analyze the effects of each of the transactions listed below on the current assets, current liabilities, fund balance, or net assets of each of the fund or nonfund accounts of the city of nancy, virgi…
(TCO F) The Wisconsin Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below:
“Problem 1. Indicate whether each of the following variances is favorable or unfavorable. The first one has been done as an example.
Item to classify Standard Actual”
On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share. Prior to the split, Daniel had 200,000 shares of $15 par value stock. After the split, the par value of the
Crede Manufacturing Company uses a standard cost accounting system. In 2005, 33,000 units were produced. Each unit took several pounds of direct materials and 11⁄3 standard hours of direct labor at …
“What is Bank of America Corporation’s percentage of the accounts receivable balance to total assets for the last two years?
I need a Contribution Margin Format Income Statement concerning Main Line vs Basinger case. Specifically identifying the cost anaysis of Basinger starring in the movie “Boxing Helena” compared to Fenn
“A firm had retained earnings of $100,000 in 2009 and $125,000 in 2010. The increase in retained earnings from 2009 to 2010 is:
a)12.5%
b)20%
c)25%
d)125%”
What is the usual relationship between financial (debt) leverage and operating leverage? Why is this so?
Sales were $3,000,000, net operating income was $210,000 and average operating assets were $1,000,000. What is ROI?
Maud exchanges a rental house at the beach with an adjusted basis of $240,000 and a fair market value of $220,000 for a rental house at the mountains with a fair market value of $190,000 and cash of $
On Feb 20 2011 Hooke Inc purchased a machine for $1200000 for the purpose of leasing it. The machine is epected tohave a 10 year life ,noresidual value and will be depreciated on the straightline basi
Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy, I
“The long-term liabilities section of Dayton Inc.’s December 31, 2008, balance sheet included the
following:
A capital lease liability with 20 remaining lease payments of$12,300 each, due annual…”
Calculate the financial impact of buying a CT unit that would cost $3.0 million, would have a five-year useful life, would have a 10 percent salvage value, would have a profit per procedure of $400, a
“The closing entry process consists of closing
out the Retained Earnings account.
all permanent accounts.
all temporary accounts.
all asset and liability accounts.
Thank you!”
Breanna Boutique purchased on credit £50,000 worth of clothing from a British company when the exchange rate was $1.97 per British pound. At the year-end balance sheet date the exchange rate increase…
Rapache Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard cost system. In May 2010, 11,210 suits were produced. The following standard and actual cost da
“Prepare the general journal entries to record the following transactions of the Quinones County General Fund:
Quinones County borrowed $1,000,000 by issuing 6-month tax anticipation notes bearing”
“Full disclosure is desirable for all of the following reasons except (Points: 4)
it helps to prevent the inappropriate use of insider information
it helps financial markets to opera”
On August 1, 20X1, an American firm purchased a machine costing 200,000,000 yen from a Japanese firm to be paid for on October 1, 20X1. Also on August 1, 20X1, the American firm entered into a contrac
“1. T F If you change your estimate of years remaining for your capital asset, you need to restate prior years financials inorder to reflect the difference in depreciation amounts.
T F If you c”
Henderson Company has two investment opportunities. Both investments cost $5,000 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below:
“15) Activities that produce goods or services to be provided to other departments or other governmental units would be reported in which fund?
Advance fund
Internal service fund”
International Finance, Chapter 3, question 3 asks us to construct a spreadsheet to compare the cash flows resulting from two plans.
How would securitization of accounts receivables impact the relationship between revenue and cash flow?
Peterson Foods Manufactures pumpkin scones. For January 2009 it budgeted to purchase and use 15,000 of pumpkin at 0.89 a pound. Actual purchases and usage for January 2009 were 16,000 pounds at 0.8
“Nordham Corporation’s trial balance at December 31, 2008, is presented below. All 2008 transactions have been recorded except for the items described below and on the next page.
Debit Credit
Cas”
“multiple choice have three free questions for today
Responsibility accounting holds managers responsible for:
all costs charge to their department.
all direct cost of their department p”
“On January 3, 20X4, Realto Company issued a $5,400,000, 3-year note payable with a fixed interest rate of 8% payable semiannually. By the end of June 20X5, Realto’s controller, believed that interest
what are some of the different car warrantees that are available when buying a car from a dealership or a private party?
“Browning Inc. production budget for Product X for the year ended December 31 is as follows:
Product X
Sales 640,000 units
Plus desired ending inventory 85,000
Total 725,000
Less estimated begi”
6 Excel Problem Task: Create a depreciation schedule to monitor your company’s investment in fixed assets. a. Your spreadsheet should have the following column headings: Account number (5 digits,…
On January 1 2011 musical corp. sold equipment to martin inc. ( a wholly-owned subsidiary) for $168,000 in cash. The equipment originally cost $140,000 but had a book value of only $98,000 when transf
11-1 Meltzer Electronics estimates that its total financing needs for the coming year will be $34.5 million. During the coming fiscal year, the firm’s required financing payments on its debt-and-equit…
Summarize McDonald’s Corp. sales by customer for the current year and past year. Please provide references.
“Jones Company had 100 units in beginning inventory at a total cost of $10,000.The company
purchased 200 units at a total cost of $26,000. At the end of the year, Jones had 80 units in
ending invento”
“Complete the following three exercises and submit to your instructor. Be sure to show your work for calculations to earn full credit.
Sales and Production Budgets (8-12): The marketing department o”
I have to do a Annual Analysis on Cracker Barrel and struggling to find the answers needed- Please help, all the financials are listed on this website http://investor.crackerbarrel.com/downloads.cfm I…
the exclusion for health insurance premiums paid by the employer applies to: A only current employees. B only current employees and their spouses and children. C only current and retired former employ
WACC The Patrick Company’s cost of common equity is 16 percent, its before-tax cost of debt is 13 percent, and its marginal tax rate is 40 percent. The stock sells at book value. Using the following b
Francis Inc.’s stock has a required rate of return of 10.25%, and it sells for $35.00 per share. The dividend is expected to grow at a constant rate of 6.00% per year. What is the expected year-end di
“20
The declining-balance method is an accelerated method of depreciation. Briefly explain what is meant by an accelerated method of depreciation and justify the choosing of an accelerated method.”
“Why is it necessary to use equivalent units in a process costing system?
please explain in detail”
Would an employer be liable for the torts/criminal acts of an independent contractor, or not?
Discuss the four criteria used for determining if a lease is to be treated as a capital lease. How does the distinction affect the timing of the lessor’s gross investment in the lease, interest inc…
What is meant by “moving up the economic value chain” and how are CPAs going to accomplish this?
“The following overhead data are for a department of a large company.
Actual costs Static”
Flynn Inc. has two temporary differences at the end of 2012. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Flynn’s accounting …
“Which of the following has the least effect on sample size:
Population
Variability of the population
Acceptable risk
Tolerable misstatement in variables sample or tolerable deviation”
attachted The post-closing trial balances of two proprietorships on January 1, 2008, are presented below. Patrick Samuelson Company Company Dr. Cr. Dr. Cr. Cash $14,000 $12,000 Accounts receivable 17,…
The IASB has issued a conceptual framework that is broadly inconsistent with that of the United States, true or false?
“The pricing objective of maximizing profits:
1 has not been affected by other, more socially focused concerns.
is to be implemented under any and all circ*mstances.
…”
What was the predecessor auditor’s understanding as to the reasons for the change in auditors? Predecessor auditor stated that the firm was discharged over the wording of the previous audit opinio…
Hornet Corporation has a loan agreement that provides it with cash today, and the company must pay $25,000 one year from today, $15,000 two years from today, and $5,000 three years from today. Hornet
At December 26, 20×8, the company had a special, nonrecurring opportunity to purchase 40,000 units at $17 per unit. The purchase can be made and the units delivered on December 30, or it can be delaye
“The Granger Co. had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employees on”
“Problem 19-1A: Production costs computed and recorded; reports prepared L.O. C3, P1, P2, P3, P4
Lemmon Co.’s March 31 inventory of raw materials is $170,000. Raw materials purchases in April are $3″
I need the following question “a” in the attachment answer on the topic. The topic is stated in the attachment, but just in case you miss it. The topic is “Dell and Perot System”. I just need 1 page d…
Why are most ethical decisions that fraud examiners face complex rather than straightforward? When should the fraud examiner place his or her duty to the public ahead of his or her duty to a client or
“Fird Company manufactures a part for its production cycle. The costs per unit for 10,000 units of this part are as follows:
Direct materials”
“1. The Duvall Company applies manufacturing overhead costs to products on the basis of direct labor-hours. The standard cost card shows that 6 direct labor-hours are required per unit of product. The”
Paul Company had 100,000 shares of common stock outstanding on January 1, 2009. On September 30, 2009, Paul sold 48,000 shares of common stock for cash. Paul also had 10,000 shares of convertible pref
Different organizations historically and currently have issued various pronouncements that constitute the body of generally accepted accounting principles. Presented below are some of these organizati
On October 1, Black Company receives a 6% interest bearing note from Reese Company to settle a $20,000 account receivable. The note is due in six months. At December 31, Black should record interest
The Weber Company purchased a mining site for $500,000 on July 1, 2011. The company expects to mine ore for the next 10 years and anticipates that a total of 100,000 tons will be recovered. The esti
Responsibility Center Presentation Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have l…
“The entry to close the appropriate insurance account at the end of the accounting period is
debit Income Summary; credit Prepaid Insurance
debit Prepaid Insurance; credit Income Summary
debit”
This is a sample exam for ACC561 could you pls answer those questions that are not already answered and check my response to those that are answered for correctness. 1) According to the Financial Exec…
What is the best way ro prevent attackers from exploiting well-known bugs to gain access into a web server?
Beginning inventory, purchases and sales data for tennis rackets are as follows: Apr 3 Inventory 12 units @ $45 11 Purchase 13 units @ $47 14 Sale 18 units 21 Purchase 9 unit
Firm A is the dominant firm in a market where industry demand is given by Qd = 48-4P. There are four “follower” firms, each with long-run marginal cost given by MC= 6 + Qf. Firm A’s long run m…
Hello, Please help me with this case study. Case Studies Instructions: • Read the cases below and answer the required questions. • Attached your answers to an email sent to me. CVP Case Study Yumm…
What is most unusual about the balance sheet? 2. Compute trend percentages for net sales and net income. Use 2003 as the base year. Which trend percentage looks strange? Explain your answer. 3. Com…
A small business is expected to be in the 25-percent tax bracket this year and in the 39-percent tax bracket next year. Provide two tax planning strategies the business might want to consider befor…
Write a one-page Memo (double-spaced) to a non-financial audience in which you explain how increasing scrutiny … and demand for accountability by the public has impacted reporting for non profit org
Partnership net income of $33,000 is to be divided between two partners, Elan Chan and Roy Anderson, according to the following arrangement: There will be salary allowaances of $20,000 for Chan and $
Two partners have a dispute regarding one partner’s share of current earnings. One partner believes his share is $100,000 but the partner says it is $75,000. How to resolve this dispute?
the property kicked out to each shareholder has bases of $3000 and fair value of $10000. E & P before distribution is $8000. how much is the dividend to both shareholders?
Inventory valuation methods allow management to select a method that best fits their business model. Gen the following data, what is the value of the ending inventory as determined by the first in fir
“8. Sam has $80,000 of net income from his sole proprietorship. What is his deduction for AGI for self-employment taxes? (Points : 5)
$12,240
$11,304
$6,120
“
imagine that you are a financial analyst used to US or IFRS company statements, what difficulties would be met when assessing Japanese companies?
“9.5C
A recent annual report of H. J. Heinz Company includes the following note: Depreciation: For financial reporting purposes, depreciation is provided on the straight- line method over the estima”
Smith Co. bought a window franchise from Paine, Inc., on January 2, 2008, for $100,000. A highly regarded independent research company estimated that the remaining useful life of the franchise was 50
Bowler Inc. owns 30% of Yarby Co. and applies the equity method. During the current year, Bowler bought inventory costing $66,000 and then sold it to Yarby for $120,000. At year-end, only $24,000 of
“(Disclosures: Pension Expense and Other Comprehensive Income)
Taveras Enterprises provides the following information relative to its defined benefit pension plan.
Balances of Values at December 31″
“2. (TCO B & E) These financial statement items are for Snyder Corporation at year-end, July 31, 2010.
Salaries payable $ 2,580
Salaries expense”
“The AICPA sets standards and rules for the CPA profession in five major areas, of these five which is the most important and why?
has to be 200-300 words”
“1. Ann Bolen’s husband died last year. Ann maintains a household where she and
her 8-year-old daughter reside for the tax year. On her tax return, she
properly claims a dependency exemption for her”
i have attached the question 10/19/2010 Blackboard Academic Suite Assignment 2 (Session 1 Fall) Course Schedule Course Modules Review and Practice Exam Preparation Resources Print Note: T his assignme…
A good budgeting system forces managers to examine the business as they plan, so they can
You own an automobile parts company and have been approached by a leading car manufacturer to supply parts to the company. How would you determine that the car manufacturer has a good record of servic
“””In the month of June, Paula’s Beauty Salon gave 3,500 haircuts, shampoos, and
permanents at an average price of $30. During the month, fixed costs were $16,800 and
variable costs were 80% of sale…”
Phildell Phoenix is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,288. FICA tax for social security is 6.2% and the FICA tax for Medicare is 1.45%. The
. A machine was purchased for $37,000 and depreciated for five years on a straight-line basis under the assumption it would have a ten-year life and a $1,000 salvage value. At the beginning of the ma
How did the insistence of regulators of depository institutions to raise their capital ratios ultimately impact their degree of operating and financial leverage?
“Forensic and Investigative Accounting
7-6 Discuss the conflict between the need for personal privacy and confidentiality in banking transactions and the needs for the government to curtail money lau”
“Assignment 2:
Nordham Corporation’s trial balance at December 31, 2008, is presented below. All 2008 transactions have been recorded except for the items described below and on the next page.”
(TCO B) Patton Company purchased $400,000 of 10% bonds of Scott Co. on January 1, 2011, paying $376,100. The bonds mature January 1, 2021; interest is payable each July 1 and January 1. The discount o
Jack McClintock, president of McClintock Industries, wishes to issue a press release to bolster his company’s image and maybe even its stock price, which has been gradually falling. As controller, y…
Linda Stanley and State University (Legacy Systems to an ERP) C£oC Linda Stanley is the Vice President for Computing and Information Services at State University (SU), a large, urban university that …
I would like to double check the work I completed. The question is attached. Request feedback. Thanks Mortar Corporation acquired 80 percent ownership of Granite Company on January 1, 20X7, for $173,0…
robo-tech in. manufactures components for computer games within a relevant range of 200,000 to 320,000 disks per year. within this range, the following partially completed manufacturing cost schedule
I am not sure what you are asking for, but on the original and only question I have asked you attached an answer called opportunity cost.xlsx that will not open.
Joseph hospital has overall variable costs of 30% of total revenue and fixed costs of 42 million per year. Compute the break-even point expressed in total revenue.
I cannot allow another 24 hours. Please submit ASAP. I need this tonight!!!!!
see the attachment Jules issues 4.5%, five-year bonds dated January 1, 2009, with a $230,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $235,160. The ann…
On January 1, 20×8, Parent Company purchased 90% of the common stock of Subsidiary Company for $360,000. On this date, subsidiary had common stock, other paid in capital, and retained earnings of $20,
“1. Under the modified accrual basis of accounting, revenues cannot be recognized
Until cash has been collected
Unless they will be collected within sixty days of
year-end
Until they are s”
Please give three examples of variable costs and of fixed costs.
“Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy,
“1. T F Vested benefits are those that the employee is entitled to received even if the employee renders no additional services under the plan.
T F Actuaries ensure that a pension plan is app”
“3. A government reported an “”other financing source”” in the amount of $750,000, related to the sale of land in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balan…”
“Foundations of Accounting I
Accounting Project
Karen Pitsch
Alli Co. is a merchandising business. The account balances for Alli Co. as of November 30, 2012 (unless otherwise indicated), are”
“Mark Bennett, D.D.S. opened an incorporated dental practice on January 1, 2010. During the first month of operations the following transactions occurred:
Performed services for patients who had”
“Unit 4 Discussion Board
Deliverable Length: 1 page
Details: Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a su”
“””The management of Finnigan Manufacturing Company is trying to decide whether to
continue manufacturing a part or to buy it from an outside supplier.The part, called BIZBE, is a component of the comp”
Last year, Sarah (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her home. Sarah’s insurance company told her that her policy did not cover the theft. Sarah’s other…
Memphis Corp., a merchandiser, recently completed its 2011 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) al…
“What is the relationship between management by exception and variance analysis?
Management by exception is the practive of concentrating on areas outside a company’s normal operations and giving”
A corporation issues for cash $2,000,000 of 8%, 15-year bonds, interest payable annually, at a time when the market rate of interest is 7%. The straight-line method is adopted for the amortization of
“””44. A transaction that is likely to cause an increase in a current liability is:
Payment of accrued wages.
Accrual of interest expense.
Depreciation of equipment.
Accrual of bad debts”
Albert purchased a tract of land for 1and for 140000 in 2005 when he heard that a new highway was going to be constucted through the property and that the land would soon be worth 200000. highway engi
Describe how accounting policies are defined in the literature.
“The following data relate to the Plant Asset account of Planter Co., at December 31, 1999.
Plant Asset
A B C D
Original cost ? $240,000 $25,000,000 $60,000
Year purchased Jan 1, 1992 Jan 1.”
“26) Many conflicts of interest in business contracts can be remedied ethically by which of the following?
Deception and disclosure
Camouflage and consent
Disclosure and cons”
“Year 1 and Year 2 balance sheets of Warnick Co. appear below, together with an income statement for the latest year.
Note: Stock in Bowen Co., held as a long-term investment, was sol”
“Stock options.
Prepare the necessary entries from 1/1/07-2/1/09 for the following events using the fair value method. If no entry is needed, write “”No Entry Necessary.””
On 1/1/07, the stockho”
Articulate how companies make project selection decisions. Determine the implication on earnings and cash flow, and articulate in a memorandumwhy the MIRR project was chosen over the multitude of …
“Determine the net income of a company for which the following information is available for the month of May?
Employee salaries expenses $180,000
Interest expenses $10,000
Rent expenses $20,000
Con”
(TCO 3) Keefe, Inc., a calendar-year corporation, acquires 70% of George Company on September 1, 2009 and an additional 10% on April 1, 2010. Total annual amortization of $6,000 relates to the first a
“A carrier who has issued a bill of lading may release the goods to
the bailor without surrender of nonnegoatiable document of title
the bailor without surrender of a negotiable document title”
“1. In a defined benefit plan, the process of funding refers to
Determining the projected benefit obligation.
Determining the accumulated benefit obligation.
Making the periodic contributio”
On June 1, 2008, Carolyn places in service a new automobile that cost $25,000. The car is used 70% for business and 30% for personal use. (Assume this percentage is maintained for the life of the car.
Kidder Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $195,200, and $217,600, respectively, for April,
“Exercise 6-2
In the month of June, Paula’s Beauty Salon gave 3,5000 haircuts, shampoos, and permanents at an average price of $30. During the month, fixed costs were $16,800 and variable costs …”
“2. Which of the following is not a reason for a business to prefer to hire an independent contractor rather than an employee?
The independent contractor cannot participate in company frin”
(LO4) Assuming Alexa receives $20,000 in gross rental receipts, answer the following questions: a. What effect does the rental activity have on her AGI for the year? b. Assuming that Alexa’s AGI…
“16. Calculate the present value of an annual payment of $3,000 per year for ten years at 8% (ordinary annuity)
How much will you have at the end of the 6th year if you invest $5,000 annually”
“1.
(Points: 1)
The cash budget must be prepared before you can complete the:
production budget.
budgeted balance sheet.
raw materials purchases budget.
schedule of cash disbur”
“Expected return A stock’s returns have the following distribution:
Demand for the Probability of This Rate of Return If This
Company’s Products Demand Occurring Demand Occurs
Weak 1 (50 %)
..”
On its 1999 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2000 balance sheet, the balance of retained earnings was also equal to $510 million. Whic
“Prepaeration of government-wide financial statements requires the elimination from fund-bases statements of
due from general fund and due to special revenue fund account
other financing sourc”
nevermind! i dont have that kind of money. just cancel it!
“Question 1
On April 1, 2003, Penny Corporation sells land to its 60%-owned subsidiary, Sahl
Corporation, at a $15,000 gain. The land is still held by Sahl on December 31, 2003.
What is the effect”
The concept of conservatism is often considered important in accounting. The application of this concept means that in the event some doubt occurs as to how a transaction should be recorded, it should
Date: Wed, 6 FEB 2008 10:24:53 +0000 From: “Darlene Wardlaw” Subject: Inventory For inventory, I’ve attached an inventory memo that I received from Bradley. I thought he sent you a copy already, but…
Flyer Company sells a product in a competitive marketplace. Market analysis indicates that their product would probably sell at $48 per unit. Flyer management desires a 12.5% profit margin on sales.
“A change from FIFO to LIFO in a period of rising prices will
decrease both the current ratio and the inventory turnover ratio.
increase both the current ratio and the inventory turnover rati”
I have most of the answer but I am missing machine part Question 5) Average and FIFO cost methods; losses at the beginning and end of processing Similar to SelfStudy problem 1 Mt. Orab Manufacturing C…
There is no information about the company. This is how the assignment question was worded. The chapter in the textbook is titled Accounting for Inventories.. The below is the scenario the instructor p
Can you help me figure this problem? I have attached it. Wyatt Co. has budgeted the following unit sales: 2011 Units Jan 10,000 Feb 8,000 March 9,000 April 11,000 May 15,000 The finished goods units o…
30. Received a loan from “The Other Bank:” (acct 27200). You will also need to set up account 27201 for the Discount on the Note. It is a zero interest loan of $15,000 that must be paid…
“The following account balances have been provided for the end of the most recent year:
Total assets
$150,000
Total stockholders’ equity
$120,000
Total common stock
$”
hitchco*ck, inc. uses the high-low method to analyze cost behavior. The company observed that at 12,000 machine hours of activity, total maintenance costs averaged $7.00 per hour. When activity jumped …
Consider gains or losses on non-recurring asset sales. How could they mislead management and potential investors on a cash flow basis?
Maria Corporation manufactures and sells ceramic dinnerware. The company also sells dinnerware that is purchased from unrelated foreign producers. During the tax year 2010, Maria had a U.S. profit of
Suppose the price of a stock is $50 at the beginning of the year and $53 at the end of the year and it pays a $2 dividend during the year. Calculate the stocks current yield, capital gains yield and t
Use the balance sheets of Sando shown below to calculate the following ratios for 2008 (round to the hundredths): (a) Current ratio. (b) Acid-test ratio. (c) Debt ratio. (d) Equity ratio. Use the bala…
On January1, 2010, Yeargan Company obtained an $88,000, seven year 5% installment note from Farmers Bank. The note requires annual payments of $15,208, with the first payment occuring on the last day
Identify a decision that has recently been made or will be made in the near future within the Coca Cola Company. Identify two relevant and two non-relevant costs in this decision. Support your answers
Dim Witt is the county commissioner of Clueless County. He decided to institute tolls for local ferry boat passengers. After the tolls had been in effect for four months, Astra Astute, county accounta
If variable cost of goods sold totaled $80,000 for the year (16,000 units at $5 each) and the planned variable cost of goods sold totaled $84,000 (15,000 units at $5.60 each), the effect of the unit c
to be consistent with the historical cost principle, overhead costs incurred by an enterprise constructing its own building shoud be
Explain two methods that a hacker might use to tamper with a network.
McBride Medical Clinic has budgeted the following cash flows January February March Cash receipts 101000 108000 125000 Cash payments For inventory purchases 92000 72000 83000 For S&A expenses 30000 32…
Boyd, 54, is a single, self-employed,carpenter. During 2010, he earns gross revenues of $49,000 and incurs $6,000 of business expenses. His itemized deductions for the year are $80,000. Determine Boyd
Mincin, CPA is the auditor of the Raleigh Corporation. Mincin is considering the audit work to be performed in the accounts payable area for the current year’s engagement. The prior year’s working pap
Michael I. first asked for another 12 hours to answer. Then he says he couldn’t answer this due to not knowing the subject. Couldn’t you refer me to a tax expert if you can’t answer this? Is there any
Windon Corp. On January 1, 2005, granted stock options for 100,000 shares of its $10 par value common stock to its key employees. The market price of the common stock on that date was $23 per share a
“Use the following to answer question 1:
The following data concerning the retail inventory method are taken from the financial records of Stone Company.
The ending inventory at retail sh”
A process began the month with 3,000 units in the beginning work in process inventory and ended the month with 2,000 units in the ending work in process. If 12,000 units were completed and transferred
“1.Superior Industries’ sales budget shows quarterly sales for the next year as follows:
Company policy is to have a finished goods inventory at the end of each quarter equal to 20% of the n”
what need clarifying? I don’t understand why it says you need more time to answer, but if I pay you you can answer within a couple of hours. This to me sounds like a scam. I thought that is why I p
“1. Use the following company information to calculate its net cash provided or used by investing activities:
Equipment with a book value of $125,000 and an original cost of $220,000 was sold at”
See attached problems that need answering. Of the problems 1 – 10. Atleast 7 need to be correct. Thanks, Scuba, Inc. , a wetsuit merchandise store began March with 50 wetsuits that costs $46 each in i…
“new perspectives microsoft excel 2007 comprehensive isbn 9781423905851
need either instructions for or the tutoial one and tutorial two”
“Dinkel Manufacturing Corporation accumulates the following data relative to jobs started and finished during the month of June 2008.ÂÂ
Costs and Production Data Actual Standard
Raw materials…”
“Transfer pricing refers to setting prices between related parties. There are many reasons to skew such prices when allowed. Discuss this issue from a managerial perspective.
Do research on the Int”
The Bay Fig Corporation has a $350,000 gain from operations for 2009, and dividends of $100,000 received from 30%-owned domestic corporations. How much is the Bay Fig Corporation’s dividends receive…
“The following information was taken from the accounts of Cats Co. for 2006:
Merchandise purchased for resale $600,000
Freight-in 20,000
Freight-out 10,000
Purchase returns”
“1. T F The adoption of a new principle in recognition of events that have occurred for the first time or that were previously immaterial is not an accounting change.
T F There is a presumption”
Asaki Company accumulates the following data concerning raw materials in making one gallon of finished product: (1) Price-net purchase price $3.00, freight-in $0.30 and receiving and handling $0.40. (
“This is a partial adjusted trial balance of Orlando Company.
Orlando Cmpany
Adjusted Trial Balance
January 21,2010
D”
Gotham University offers only high-tech graduate-level programs. Gotham has two principal operating departments, Engineering and Computer Sciences, and two support departments, Facility and Technology
Craig received a cash distribution of $50,000 in liquidation of half of his one-fourth interest in White Family Partners. His tax basis in his partnership interest prior to the distribution was $35,00
Tyler borrowed $15,000 to purchase a machine. He later borrowed $3,000 using the machine as collateral. Both notes are nonrecourse. Ten years later, the machine has an adjusted basis of zero and tw
An asset’s book value is $36,000 on January 1, 2007. The asset is being depreciated at a rate of $500 per month on the straight-line method. Assuming the asset is sold on July 1, 2008 for $25,000, the
The maintenance department of a manufacturing company is a(n)
Do you want to look at absolute dollar changes or is it more important to look at the change as a percentage of the total?
If General Fund cash is transferred to a Debt Service Fund to provide resources to refund outstanding debt, the Debt Service Fund statement of revenues, expenditures, and changes in fund balance would
Tender Foot Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the c
I need help with this assignment. Please see attached.
I am not sure what you want me to resubmit. Please get me the answer some time today, Aug 24th.
Instructions regarding how to complete this project as well as worksheets are available in this file. There are a total of four pages in the file. Be sure to read and use all of them. Type your answer…
“Matt works for Fresh Corporation. Fresh offers a cafeteria plan that allows each employee to receive $15,000 worth of benefits each year. The menu of benefits is as follows:
Benefit Cost
Hea”
“Monetary-unit sampling should not be used if :
The population includes several large items
or
The auditor expects overstatement errors
or
Many errors are expected
or
No items in the accoun”
“Compare the relationship between the auditor, client, and external users. How do professional standards for CPAs govern these relationships?
has to be 200-300 words”
Vince Price has in his possession an otherwise negotiable instrument that reads: 3. • “I, Waldo, hereby promise to pay to the order of Mark or bearer….” • •Which of the following is true? …
Under what circ*mstances would each approach to stakeholder impact analysis (moral standards, 5-question, and Pastin’s approach) be most useful? Generalize about the approaches and describe when eac…
Pursuant to a complete liquidation, Oriole Corporation distributes to its shareholders land held for three years as an investment (adjust basis of $400,000, fair market value of $600,000). The land
A client is considering adding merchandise to his business. The client, who is a home repair contractor, wants to know if selling books on how to do minor home repairs, is a good idea. Your manager, M
What are some of the key differences between financial and managerial accounting?
“Brie gives her niece a machine to use in her business with a fair market value of $6,500 and a basis in Brie’s hands of $7,500. What is the niece’s basis for depreciation (cost recovery)?
…”
“The manufacturing cost per unit for absorption costing is:
Answer
usually, but not always, higher than manufacturing cost per unit for variable costing.
usually, bu”
Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2011, of a five-period annual annuity of $5,000 under each of the followi
“Manufacturing overhead data for the production of Product H by Norland Company are as follows.
Overhead incurred for 52,200 actual direct labor hours worked $211,780
Overhead rate (variable $3; f”
Did you receive the attached questions from the July 24th request for help? I have resubmitted the questions. Have you received them? Beth
“””Larry Moon incorporated his detective agency and transferred the following assets and liabilities to Moon Probes Inc, for 100 percent of its stock:
Adj basis value
Acc receivables 0 7000
acc”
Compose a 200 to 300 word response to question 3 of the Nortel Networks Case on page 182 in chapter 5. Refer to the checklist, Exhibit 1, on page 153 (chapter 5) for assistance with identifying qualit
“5) A company made the following merchandise purchases and sales during the month of May:
May 1 purchased 380 units at $15 each
May 5 Purchased 270 units at $17 each
May 10 Sold”
Financial leases are considered to be the same as a purchase and therefore the asset is placed on the lessee’s financials. Is it proper treatment to consider the asset as the property of the lessee ev
What financial situation of a firm would argue for the repurchase of common equity (stock)?
The amount of fixed manufacturing overhead cost applied to work in process during September was: $59,850 $57,000 $61,400 $54,150
Allowances for Doubtful Accounts has an unadjusted balance of $500 at the end of the year, and an analysis of accounts in the customers ledger indicates doubtful accounts of $15000. Which of the follo…
A business has three product lines: small, medium, and large speakers. The small speaker line has a loss from operations of $25,000, while the medium and large speaker lines have a combined income fro
“Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 5% bon”
PLEASE help answer the questions ASAP. PLease with in 1 hr. Question: The Renaissance Man Clothing Company experienced the following costs in 2007: There was no beginning inventory. During the year th…
“when the balance in ending finished goods inventory increases, net income under absorption costing is:
a)lower than under direct costing
b)higher than under direct costing
c)the same under direct c”
Jerry has a 10% interest in the EKG Partnership capital, profits and losses. He is a limited partner. At the beginning of the current year, his basis in his partnership interest is 10,000. The partner
“1. When property is transferred, the gift tax is based on
replacement cost of the transferred property.
fair market value on the date of transfer.
the transferor’s original cost of t”
Use the following to answer questions 101-105: Sheldon Company manufactures only one product and uses a standard cost system. During the past month, the manufacturing operations had the following var
The last dividend paid by XYZ Company was $1.00. XYZs growth rate is expected to be a constant 5 percent. XYZ’s required rate of return on equity (ks) is 10 percent. What is the current price of XYZ’
Adjusting Entries are required at the end of the period to ensure that accrual accounting principles are applied. The rent is prepaid for three months at $1,000 per month. Develop the adjusting entry….
“Revenue and expense data for Reuters Company are as follows:
2011 2010
Administrative expenses $ 24,750 $ 18,000
Cost of goods sold 500,000 375,000
Income tax 11,600 12,000
Net sales 750,0″
Mayer Company leased equipment from Lennon Company on July 1, 2010, for an eight-year period expiring June 30, 2018. Equal annual payments under the lease are $300,000 and are due on July 1 of each ye
Investment instruments used to invest temporarily idle cash balances should have what kind of characteristics?
If a $1,000, 9 percent, 10-year bond was issued at 96 plus accrued interest on month after the authorization date, how much cash wa received by the issuer?
“CANADIAN TAXABLE INCOME AND TAX PAYABLE FOR INDIVIDUALS
Death of a Taxpayer
On June 3, 2009, Andrea Steele unexpectedly died of complications associated with minor surgery. Her husband, a man with l”
On January 1, 2008, the Accumulated Depreciation—Machinery account of a particular company showed a balance of $370,000. At the end of 2008, after the adjusting entries were posted, it showed a bala…
“For the following financial statement items, calculate trend percents using 2009 as the base year
2013 2012 2011 2010 2009
…. $1,195,400 $1,118,000 $ 1,049,”
“The accounts in the ledger of the Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
Payable 1,500
Receivable 1,800
Investment 2,000
Cash 2,”
The adjusted trial balance of Ryan Financial Planners appears below. Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1. an income statement….
Nunally Mfg Co has furnished the following information which occurred during May: Accounts payable Balance at April 30=$29,000; Purchases on Accounts during May=$150,000; Cash payments for Materials P…
“2.Biven Corporation’s balance sheet and income statement appear below:
Increase
BALANCE SHEETS (Decrease)
2006 2005 Amount Percent
ASSETS
Cash & equivalents $35,000 $30,000 …”
“Which of the following group of accounts are all assets?
Accounts Receivable, Revenue, Cash
Prepaid Expenses, Buildings, Patents
Unearned Revenues, Prepaid Expenses, Cash
Cash, Accoun”
“Mike Horn Corporation manufactures sweatshirts for sale to athletic-wear retailers. The following information
was available for Horn for the years ended December 31, 2009 and 2010″
“1) A typical use of managerial accounting is to:
help investors and creditors assess the financial position of the company
help management get a clean audit report
help the marketing manag”
Which action is not considered an act discreditable to the accounting profession? 19. A.Being finally determined by a court of competent jurisdiction to have violated any of the federal antidiscrimina
Why is CVP analysis generally used as a short run tool? Would CVP ever be appropriate as a long-term method?
T/F An increase in depreciation expenses will cause a decrease in cash generated. If False, please explain.
If the recorded value of a note differs from the face value: Explain how the company should account for the difference. b. Explain how the company should present this difference in the financial
The Duval company was incorporated with 7% preferred capital stock of $500,000 and common stock of $1,800,000. The par value of the preferred stock was $100, and the par value of the common stock was
“subject : accounting
question: multiple choice
have three free questions for today!
A contract which specifies that the suppler will be paid for the cost of production as well as some fixed”
Garcia Corporation purchased a truck by issuing an $80,000, 4years, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. Prepare the journal en
“office supplies purchased by ari’s alarm service on account were returned. which of the following entries for ari’s alarm service record this transactions?
office supplies, debit accounts payable,”
Acme Manufacturing makes a variety of household appliances at a single manufacturing facility. The expected demand for one of these appliances during the next four months is shown in the following tab
“””Hello and Thanks,
I just paid for the last question you answered. I am not asking for a free answer. If you can please complete the following question, I will pay an additional $9.00.
Can you plea”
Transactions analysis results in the development of a journal entry. A building is purchased for $35,000. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar a
“A company with a higher contribution margin ratio is:
more sensitive to changes in sales revenue.
less sensitive to changes in sales revenue.
either more or less sensitive to changes in sales reven”
Gold Co. sold merchandise to Bronze Co. on account, $23,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Gold Co. issued a credit memorandum for $2,500 for merchandise returned th
kornet co produces and sells graphite for golf clubs. the following transactions were completed by kornet co whose fiscal year is the calendar year. brbrjuly 1 issued $19,000,000 of seven year 12% cal
“What accounting and reporting methods are used by investors- venturers in accounting for their joint venture investments?
The word limit should be between 100-250.”
“2. Consider the following annual information about the three companies in the same manufacturing industry:
Company A B”
“Internal Control Questionnaire apollo shoes
Assertions and Questions
Yes, No, N/A
Comments
Occurrence assertion:
Is the credit department independent of the sales departme”
Launching a new product will cost $600,000; the product is expected to sell for $15/unit at a volume of 20,000 units/year for 3 years, at a 40% contribution margin.
“True/False
A business taxpayer sells depreciable business property with an adjusted basis of $40,000 for $32,000. The taxpayer held the property for more than a year. The taxpayer has an $8,000″
Please show me or tell me how you got the answer thank you On June 1, Mendoza Inc. issues 3,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares ass…
Ok I will sent you all my assigment. I will attache file please check that and let me know what you thing about that I realy need your help. Thank you Ola Winslet Company’s condensed income statment f…
“The trial balance of the Trishia Company on December 31, 2010 (the end of its annual accounting period), included the following account balances before adjustments: Notes Receivable-$10,000 debit; In
How does an outside review use a statement of cash flows and other financial statements to assess the viability of the firm? no word limit
“Question 1 (2 points)
Which of the following is not treated as a change in accounting principle? A) A change from LIFO to FIFO for inventory valuation
A change to a different method o”
Nathan is a 10% partner and Ben is a 90% partner in a partnership that owns a piece of land with a tax basis of $50,000 and a value of $750,000. Nathan and Ben formed the partnership years ago. The la
“Scenario A Debt $0
Equity $10,000
Income before taxes and interest expenses $2,000
Interest expenses $0 (because there is no debt)
Income before taxes $2,000
Income taxes at 40% $800
Net incom”
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc
Garfun, Inc., owns all of the stock of Simon, Inc. For 2011, Garfun reports income (exclusive of any investment income) of $480,000. Garfun has 80,000 shares of common stock outstanding. It also has 5
“Please help with these three HW questions
Smith Corporation reported the following:
2006 2007
Sales 300,000 360,000
COGS 75,000 90,000
based on th”
“Individual Assignment: Lee Corporation Equity Scenario
Review the following information:
Lee Corporation, a U.S. company, began operations on January 1, 2004.
During i…”
Brain Teaser 4: Cash Basis or Accrual Basis? Is Accrual Accounting Superior to Cash Basis? Use FASB to identify what standard-setters have said as to the superiority of accrual accounting relative to …
In 2009, Sashi has a $7000 short-term loss, a $15000 long-term capital gain and $8000 in qualified dividend income. Sashi is single and has other taxable income of $15000. Which of the following state
Anderson Department Stores is considering the replacement of the existing elevator system at its downtown store. A new system has been proposed that runs faster than the existing system, experiences
“Brian Bush and Charles Chex exchange business machines. Brian gives
Charles a machine with a basis of $3,500 (fair market value $3,000)
plus $2,000 in cash. Charles gives Brian a machine with a bas”
CVP relationships are unimportant in nonprofit organizations. Do you agree?
How does activity-based costing method differ from a more traditional costing method?
“””Problem1: Identifying cash inflows and outflows
Indicate which of the following items will result in cash inflows and which will result in cash outflows:
Initial investment
Salvage values
c”
Reisner Company assembled the following information in completing its March bank reconciliation: balance per bank $11,460; outstanding checks $2,325; deposits in transit $3,750; NSF check $240; bank s
John, the sole owner of LV Co., transfers equipment to LV Co. in return for 100 shares of its stock and $10,000. The stock is worth $70,000. John bought the machine several years ago for $60,000 and i
“4) CPA Manufacturing produces electronic storage devices, and uses the following three-part classification for its manufacturing costs: direct materials, direct manufacturing labor, and indirect manu”
“When a business sells an item and collects a state sales tax on it, a current liability to the state arises.
True or false?”
How important are taxes when making a decision about a company? Would you want to know both state and federal tax liabilities?
Bozeman Corporation manufactures a single product. Monthly production costs incurred manufacturing process shown page 231 production 3,000 units. The utilities maintenance costs mixed costs. The fixe
A company purchased 1000 units of inventory on September 25 and the cost per unit was $8.50. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. (Assume a perpetual inven
Suzy owns a 25% capital and profits interest in the calendar-year SJDV Partnership. Her adjusted basis for her partnership interest on July 1 of the current year is $200,000. On that date, she rec
“Which of the following represents a cash flow hedge?
variable to fixed interest swap
Fixed to variable interest swap
A call option on stock held by the company
A put option on stock”
#NAME?
“Using an interest rate of 14%, how much is the present value of $800,000 to be received in 15 years?
$112,080
$58,481
$533,334
$746,666″
The questions are attached in the document I need all of them answered I increased the price to $25 E3-14 The bookkeeper for Biggio Corporation made these errors in journalizing and posting. 1.A credi…
A 10-year, $1,000 face value bond sells for $1,075. The bond has a 9% semiannual coupon and is callable in 5 years and a call price is $1,035. What is the bond’s nominal yield to call?
We have dealt with primarily two consolidation methods – acquisition and purchase method. In both cases upon acquisition, goodwill may be created. What does goodwill represent? Under SFAS 142 …
You are an accountant at a small accounting firm. One of your clients is looking to open a small river-rafting business. Your client will run the business operations from a mobile home office on a pie
Smith purchased 5 percent of Barker’s outstanding stock on October 1, 2007, for $7,475 and ac-quired an additional 10 percent of Barker for $14,900 on July 1,2008. Both of these purchases were account
what is the difference between question 60 and 61. QUIZ7-9 (DUE DATE=12/7/2011) 56. Which of the following stock dividends would be tax-free to the shareholder? A. A 2-for-1 stock split to all holders…
Goodwill results from the purchase of one firm by another for a price that is greater than the fair market value of the net assets acquired. On January 1, 2009, Brown Line Co. purchased Green Line Co.
The bank account as a control device that helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the data, complete the bank statement reconciliati
“””• Submit a 200- to 300-word response in a Microsoft Word document to the Assignments section of eCampus that includes the following information:
Three strengths and three weaknesses in the fin…”
Hay Company had January 1 inventory of $100,000 when it adopted dollar-value LIFO. During the year, purchases were $600,000 and sales were $1,000,000. December 31 inventory at year-end prices was $126
What would the form 1065 look like for this company? and the individual K-1s for each
please see below attach file. i am willing to pd thirty dollars for help with due tommorrow before 12pm. ACCT212 Project 2: Financial Statement Analysis-YUM! Brands, Inc. Due by Sunday, end of Week 7,…
What are the decision-making processes of the McDonald Corp? Please provide references.
“Problem 1.Determining sales and variable cost volume variances
Todhunter Publications established the following standard price and costs for hardcover picture book that the company produces.”
“The most effective means for the auditor to determine whether a recorded intangible asset possesses the characteristics of an asset is to
Vouch the purchase by reference to underlying documentatio”
“The items below represent the ratios to be calculated for McDonald’s Corp.
Liquidity Measurements
Accounts Payable Turnover
Current Liabilities Ratio
Current Ratio
Inventory to S…”
“Other things held constant, if the expected inflation rate decreases and investors also become more risk averse, the Security Market Line would shift
(Points: 3)
down and have a less steep s”
The 2010 income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580 and income ta
“1. For the year ended December 31, 2012, Transformers Inc. reported the following:
Net income $120,000
Preferred dividends declared 20,000
Common dividend declared 4,000
Unrealized holding loss,”
What account balances are included in a revenue and collection cycle? What specific control procedures should be in place and operating in internal control governing revenue recognition and cash accou
During the spring semester an enterprising junior decided to operate a Larry’s Lemonade stand at the beach rather than work at his normal summer job. This franchise offers a single product that is a…
Price and yield An 8 percent semiannual coupon bond matures in 5 years. The bond has a face value of $1,000 and a current yield of 8.21 percent. What are the bond’s price and YTM
You are considering buying new PACS hardware/software that will require an initial outlay of $54,200. The system has an expected useful life of 5 years and will generate free cash flows to the hosp
(TCO 10) Joanie Corp sells it products on both credit and cash basis. Monthly sales are sold 10% for cash, 90% for credit. Credit sales are collected 40% in the month of sale and 60% the followin
“At December 1, 2008, Marco Company’s accounts receivable balance was $1,200.
During December, Marco had credit revenues of $5,000 and collected accounts
receivable of $4,000. At December 31, 200…”
“Statement of cash flows (indirect method).The net changes in the balance sheet accounts of Keating Corporation for the year 2011 are shown below.
Account Debit Credit
Cash $ 82,000
Short-term inve”
Edge Company’s salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2011 is as fol
Abrams Company manufactures miniature speakers that are built into the headrests of high-end lounge chairs. Based on past experience, Abrams has found that its total annual overhead costs can be repre
Please verify the answers I have now and help me with the ones I am missing Essential Concepts of Accounting Student: Kim L. Holman II _________________________________________________________________…
Ramsey Corporation desires to earn target net income of $90,000. If the selling price per unit is $30, unit variable cost is $24, and total fixed costs are $360,000, the number of units that the compa
“1. (TCO A) Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points: 5)
Reduced legal liability for investors.
Harder to tra”
Nicholas wanted to take an important customer to a hockey game. Although the face value of a ticket was only $50, the only way he could get tickets was by paying a scalper $160 for each ticket. Ass
Garrison corporation transfers unimproved land to Rucker Corporation and receives in exchange improved land with FMV of 600,000 and 250,000 of cash. Rucker’s adjsuted basis in the imporved land is 750
“21. When production is limited by a scarce resource, a firm maximizes its profits if it selects products in the rank order of their:
unit contribution margins
contribution margins per unit”
Wheeler Corporation had retained earnings as of 12/31/08 of $12 million.During 2009,Wheeler’s net income was $4 million.The retained earnings balance at the end of 2009 was equal to $13 mi…
Lauren Corporation acquired Sarah, Inc., on January 1, 2009, by issuing 13,000 shares of common stock with a $10 per share par value and a $23 market value. This transaction resulted in recording $62,
How does an outside review use a statement of cash flows and other financial statements to assess the viability of the firm?
“Darnley Company’s break-even point is 12,200 units. Each unit generates variable costs of $2.20 and is sold for $4.90. What are the total fixed costs?
$26,840
$59,780
$24,400
$32,940″
Greg writes a check to Holly that is drawn on his account at First National Bank. Holly presents the check to the bank for payment, and the bank accepts the check. The bank is a. primarily liable for …
“Based on the following information provided about a company’s operations, calculate its cost of goods purchased and its cash paid for merchandise.
Cost of good sold————————$413,000″
“Write a 750- to 1,050-word paper in APA format, including citations and references, summarizing your ideas about internal controls.
Include the following:
An introduction to int…”
“4. Which of the following may qualify as a deductible business expense?
Lion’s Club dues
Athletic Booster Club membership
Country Club dues
Admiral’s …”
“data for a firm’s first year of operation is given below. The firm uses direct costing:
units produced (no work in process) 6,000
units sold 5,000
un”
“When the shipping department returns nonconforming goods to a vendor, the purchasing department should send to the accounting department the
unpaid voucher
debit memo
vendor invoice
cr”
“4. For each of the following separate cases, use the information provided to calculate the missing cash inflow or cash outflow:
Account receivable balance:
Beginning of year ……………?…”
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
“Ottawa Corporation owns machinery that cost $20,000 when purchased on January 1, 2007. Depreciation has been recorded at a rate of $2,400 per year, resulting in a balance in accumulated depreciation
“Nextel Company showed the following on its direct materials budget for June:
Units to be produced 50,000
Total pounds needed for production 4,000
Total pounds of mater”
Why is it important that auditors remain independent in capital markets?
Which type of revenue activity is correctly matched with the revenue recognition method?
Annual depreciation expense on equipment purchased a few years ago (using the straight-line method) is $5,000. The cost of the equipment was 100,000. The current book value of the equipment (January 1
Isaac Co. sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice is dated on April 15 with terms of 1/15, net 45. What is the amount of the discount and up to what date mus
“Your client, Home Products Universal (HPU), distributes home improvement products to
independent retailers throughout the country. Its management wants to explore the possibility
of opening its own”
I am willing to pay for it. But, I don’t know what I am suppose to do.
Inflation is expected to average five percent for the long term and Mr. Smith earned $74,000 this year, how much must he earn in 20 years just to keep up with inflation and maintain the balance betwee
“Comment on the managerial accountant’s role in the US versus other nations.
Do research on the Internet and show the reference for the information.”
“E5-4 Moctezuma Furniture Corporation incurred the following costs.
Wood used in the production of furniture.
Fuel used in delivery trucks.
Straight-line depreciation on factory building.”
“44. Paul and Donna Decker are married taxpayers, ages 44 and 42, who file a joint return for 2010. The Deckers live at 1121 College Avenue, Carmel, IN 46032. Paul is an assistant manager at Carmel Mo
please explain the difference between pretax financial income and taxable income
On January 3, 20X4, Realto Company issued a $5,400,000, 3-year note payable with a fixed interest rate of 8% payable semiannually. By the end of June 20X5, Realto’s controller, believed that interest
“Commercial Services.com Corporation provides business-to-business services on the Internet. Data concerning the most recent year appear below:
………………………………. $3,000,000…”
I have attached a document with my questions.. 1) Higgins Corporation realized the following capital gains and losses during 20X6: Short-term capital gain from the sale of land held for investment $10…
zither co. manufactures a product called zens in a three process seires. All materials are introduced at the beginning of the first process, zither uses the first-in , first-out methd of inventory cos
Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how t
This assignment is expected to take you the following time: Internet research – 3 hours Industry analysis – 2 hours Completing the checklist – 1hour Preliminary analysis – 2 hours You are bein…
“Richard Co. incurred research and development costs in 2011 as follows:
Equipment acquired for use in various research and development projects ………………………….$500,000
Depreciation”
identify the basic forms of conducting business, and distinguish and explain the tax implications for income earned and losses incurred by a sold proprietor, partnership, and corporation. please discu
“The following selected events occurred in the City of Canterbury
On December 31, 20X7, $250,000 was transferred from the General Fund to establish a central garage to service the cityâ�?…”
Problems P3-5 & P3-9 in Ch.3 of Intermediate Accounting
“Cost Allocation Problem
One year ago, Academic Hospital and nearby Western Hospital merged. As part of the merger, Academic Hospital eliminated its small maternity service, and Western Hospital elimi”
“1) During the fiscal year ended 6/30/07, the City of Hartsville engaged in the following transactions. REQUIRED: Assuming the city maintains its books and records in the manner that facilitates the p”
Having a problem with this question? Thank you IS CHICKEN A GOOD LOSS LEADER? Please show complete calculations-Thank you As a pricing analyst for the Value Supreme grocery chain, you are asked to pre…
If auditors lost a civil lawsuit for damages, the court found total losses of %5 million, the auditors were found 30 percent at fault, the auditors were the only solvent defendant, and the court follo
“”” On July 1, 20X0, the beginning of its fiscal year, the trial balance of the General Fund of the City of St. Bea was as follows:
Cash 20,000
Tax Receivable–Delinquent 120,000
Allowances for U”
The Sarbanes-Oxley Act of 2002 has been described as the most far-reaching legislation affecting business since the passage of the 1933 Securities Act. What are the specific portions of the legislatio
“Which of the following is a true statement?
The direct materials purchases budget is determined from the direct labor budget.
The only budget providing input into the revenue budget is the s”
The salary paid to the president of King Company would be classified on the income statement as a(n):
If an incentive bonus is paid to the manager who achieved the highest income from operations before service department charges, it follows that: a. Division A”s manager is given the bonus b. Division
Shamrock Company had a net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. On April 1, the company issued an additional 2,000 shares of common stock. Ther
Last year Mike bought 100 shares of Dallas Corporation common stock for $53 per share. During the year he received dividends of $1.45 per share. The stock is currently selling for $60 per share. What …
“1. In 2011, Fayette Engineering entered into an agreement to construct an office building at a contract price of $5,100,000. Construction data were as follows:
2011 ..”
Jazz, Inc., which has a December 31 year end, designs and sells fashion for young professional women. Lyla Hilton, president of the company, fears that the forecasted 2010 profitability goals will n
This is my second time typing in this question, Can somebody PLEASE help me? I need this to help with my tax forms for Income Tax Accounting and I want to make sure I have it correct before I enter it
what is the authoritative guidance for asset impairments? Breifly discuss the scope of the standard (i.e. explain the types of transactions to which the standard applies). Please also give several exa
“. (TCO C) At Ruth Company, events and transactions during 2010 included the following. The tax rate for all items is 30%.
Depreciation for 2008 was found to be understated by $30,000.
A st”
Wes & Tina are a married couple and provide financial assistance to several persons during the current year. For the situations below, determine whether the individuals qualify as dependency exemptio
How does a corporations’ computation of earnings and profits differ based on the tax treatment of a stock redemption as a dividend as opposed to an exchange?
The following information has been obtained from the accounting records of Sandy Shores Enterprises. Prepare the operating section of the statement of cash flows for Sandy Shores Enterprises for the y…
“2. Resources and activities related to which of the following fund types is not included in the government-wide financial statements? (Points : 1)
General Fund
Capital Projects Fund”
“Danner Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2009.
Sales: Quarter 1,”
“The following transactions were completed by Hobson INC.,whose fiscal year is the calendar year:2010
July 1. Issued $10,000,000 of 10-year, 15% callable bonds dated july1, 2010,at an effective of 11,”
Identify IFRS standards that permit the use of alternative accounting treatments. For each describe the benchmark treatment and the allowed alternative treatment.
A is a shareholder in X co., an S corporation. In 2004, A’s share of X co.’s net operating loss is $20,000. On 12/31/04 A has a basis in his X co. stock of $15,000 before accounting for the net operat
“Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.
It was scrapped as having no value
It was sold”
These are some CPA regulation review questions that I’m having problem with
Glo-Brite Paint Co Appendix A problem: I am unsure how to process the wages and insurance amounts for the death of the employee.
ELO Corporation purchased a patent for $180,000 on September 1, 2010. It had a useful life of 10 years. On January 1, 2012, ELO spent $44,000 to successfully defend the patent in a lawsuit. ELO f
Red Corporation, which owns stock in Blue Corporation, had a net operating income of $400,000 for the year. Blue pays Red a dividend of$60,000. Red takes a dividends recieved deduction of $48,000. Whi
“a. What was Topps inventory turnover ratio and average days to sell inventory for 2006 and
2005?
Is the company management of inventory getting better or worse?
What cost flow method(s) di”
Every company has capital projects. The company you have selected must need something! Be it a new wing to the building, a new product line to be funded, a new piece of equipment, find one new acquisi
“On September 20, 2002, Nozzle Corporation declared the distribution of the following dividend to its stockholders of record as of September 30, 2011:
Investment in 100,000 shares of Astro Corporat…”
see the attachment 3. value: 12 points Dylan Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the…
A corporation had stockholders’ equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock
No More Pencils Inc., disburses checks every two weeks that average $57,000 and take 7 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-be
“5. If this question is chosen, answer both parts (5 points each).
The Phoenix plant of Baldo Chemical processes alphazine into betazine and gammazine. A batch consists of 20,000 gallons of alphazi”
two ACL commands you will use to make confirmations of accounts receivables. Show how an auditor could use each in selecting a sample of 20 (twenty) accounts.
Which of the following is correct about the effective interest method of amortization? A) The effective interest method applied to investments in debt securities is different from that applied to bond…
“A division of Hewlett-Packard Company changed its production operations from one where a
large labor force assembled electronic components to an automated production facility dominated
by computer-c”
“. Which of the following is not a separately stated item on a partnership’s Schedule K? (Points : 5)
A $5,000 long-term capital loss
$20,000 of Section 1245 recapture
…”
Joni’s Kitty Supplies applies manufacturing overhead costs to products at a budgeted indirect-cost rate of $60 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special ord
“, at December 31, 1999.
Plant Asset
A B C D
Original cost ? $240,000 $25,000,000 $60,000
Year purchased Jan 1, 1992 Jan 1. 1998 ? Jan 1, 1994
Useful life 20 years ? 30 years 10 years
Salv”
“The items below represent the ratios to be calculated for McDonald’s Corp. The question is not incomplete. Need to calculate/ find out the ratios for the following items below for McDonald’s Corp. Th…
“Sele Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2010, the company incurred the following costs.
Variable Cost per Unit
Direct materials”
“1. Which of the following is not a characteristic of an S corporation? (Points : 3)
Must be formed under state law.
The transfer of property for stock is always tax-free.”
Please read the tips given. Youir help will truly be appreciated. TIPS Required: (a) Calculate the contribution margin ratio. 1. Find the contribution margin – Per unit sales – per unit variable c…
“Intergrated case application-Pinnacle Manufacturing:Part V(5). And Part VI(6).
I need chaper 15-35, and chapter 16-35 solutions.Please.”
“Bo Newman will invest $10,000 today in a fund that earns 5% annual interest. How many years will it take for the fund to grow to $17,100? (Hint: Use tables in text.)
Years =”
“2. Which of the following characteristics is the same for transfers of property to both a corporation and to a partnership in exchange solely for an ownership interest?
The transferors”
“The West Company manufactures several different products. Unit cost associated with Product ORD203 are as followers
Direct materials $40
Direct labor $ 8
Variable manufacturing overhead 12″
“Wilbur Company…” Give the entry journal entry needed to record an impairment loss (question attached)
Please find attached…you have 2 weeks to work on this….
“Journalize the following selected transactions completed during the current fiscal year:
Jan 3: The board of directors reduced the par of common shares from $100 to $20. This action increased the num”
Im not sure how to go about solving this paper. I know its related to revenue recognition, but thats as far as I got now. Case 10-1 SolvGen Inc. Direct Drugs Inc. (Direct) is planning to acquire SolvG…
“1. T F An operating lease is one that meets all of the requirements outlined as the capitalization criteria.
T F The lessor must expense immediately any costs paid to independent third-parti”
If a firm issues a bond to raise money to finance a project, does this debt financing yield a zero net present value? ( assuming that the market is efficient in pricing and tax consequences are irrele
“Use the following to answer questions 16-20:
Justin’s Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventor”
On August 1, 2010, Volmar Corporation purchased a new machine on a deferred payment basis. A down payment of $4,000 was made and four annual instalments of $6,000 each are to be made beginning on Sept
“10.
Shares of stock eligible for dividends are
the number of shares of authorized.
the number of shares issued.
the number of shares outstanding.
the number of treasury sha”
Financial statement analysis is used by investors, creditors and managers of business to evaluate the operation and health of the business. This information is in part the basis for decision-making.
PLEase help answer questions ASAP within 45 minutes. I have adjusted to $25. Question: The Renaissance Man Clothing Company experienced the following costs in 2007: There was no beginning inventory. D…
“29) Four professional general standards and responsibilities for Certified Public Accountants are quality control and assurance, professional judgment, competence, and:
knowledge
“
Please verify the answers that I have and provide the answers to the one I am missing. The assignment is due at 11:30, so I will need it back by 11:15.
“Use the following information to solve the problem below:
Hupta Corporation
—2002—
Net income: $ 6,000
Dividends: $ 2,000
Total assets-12/31/02: $ 50,000
Total liabilities-12/31/0″
Other than the Parsimonious forecasting approach, what other financial forecasting approaches are there?
RadCo International is a U.S firm with a wholly owned subsidiary in France. The basic assumptions involved in the French subsidiary and its interaction with the parent company are as follows:
Under the entity theory, a total valuation of the subsidiary is imputed on the basis of the price paid by the parent company for its controlling interest. Do you see any practical or conceptual proble
A company’s policy is to maintain a current ratio of at least 2:1. At present, its current ratio is 2.5:1. If current liabilities at present amounts to 250000 pesos, what is the maximumamount of short
“please select the best answer below-multiple choice
The Nazareth Company’s mixing department incurred conversions costs of $650,820 during January, after recording a beginning Work in Process inven…”
During 2005, Plano Co. purchased 2,000, $1,000, 9% bonds. The carrying value of the bonds at December 31, 2007 was $1,960,000. The bonds mature on March 1, 2012, and pay interest on March 1 and Septem
“If the balance shown on a company’s bank statement is less thanthe correct cash balance and neither the company nor the bank has madeany errors, there must be
Deposits credited by the bank but …”
“Relative Sales Value Method)
During 2011, Crawford Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crawford for a lump sum of $61,000, because it is dis”
Question 1) Present the journal entries to record the following selected transactions completed during the current fiscal year. Feb1 The board of directors rediced the par of common shares from $100 t…
Lynne Corporation acquired a patent on May 1, 2010. Lynne paid cash of $30,000 to the seller. Legal fees of $1,000 were paid related to the acquisition. What amount should be debited to the patent acc
“Here is the question below:Please show all workings
Mary and Jack Gray, local golf stars, opened the Chip-Shot Driving Range Company
on March 1, 2008. They invested $25,000 cash and received common”
Jones was engaged to examine the financial statements of Gamma Corporation for the year ended June 30, 2002. Having completed an examination of the investment securities, which of the following is the
“(Corrected Trial Balance)
The trial balance of Geronimo Company does not balance. Your review of the ledger reveals the following: (a) Each account had a normal balance. (b) The debit footings in P”
“prepare a statement of cash flows
comparative balance sheet
short company December 31, 2010 and 2009
assets”
As a newly hired Staff I, you are responsible for analyzing the work papers for one of the clients of your organization. Your client is not clear about why you are asking for information on the follow
“25. what is the minimum number of operating segments that must be separately reported?
ten
segments with at least 75% of revenue as measured by the revenue test
at least 75% of the segmen”
ABC Corporation issued $200,000 of 10-year, 4% bonds on March 1, 200X. The bonds sold for $210,000. Interest is payable semiannually. The company uses straight-line amortization for bond discou
I am willing to pay $75 for quick assistance on these Managerial Accounting questions. Final Exam -201-06 v.1 Student: ___________________________________________________________________________ Read …
In general, do you expect analysts’ forecasts for a company like KKD to be optimistic, pessimistic or unbiased? Why?
“1. W Travel Agency specializes in flights between Los Angeles and London. It books passengers on United airlines at $900 per round-trip ticket. Until last month, United paid W a commission of 10% of”
attached BE13-3 On May 10, Mazili Corporation issues 2,000 shares of $10 par value common stock for cash at $18 per share. Journalize the issuance of the stock. (List multiple debit/credit entries in …
“Herold transfers Blackacre to Maude in exchange for Whiteacre and $125,000 in cash. The two parcels of land have the following tax attributes:
BlackacreWhiteacre
Fair market value$450,000$300,000″
“Please help with this HW question
When analyzing a stock you expect that earnings will grow quickly relative to their current level, but the expected return on common shareholders equity is low. Wh”
List the corrections needed to present in good form the balance sheet below. Errors include misclassifications, lack of adequate disclosure, and poor terminology. Do not concern yourself with the arit…
“I would like to get the solutions for the case BIG AL’S PIZZA, on the book”” managerial accounting: a focus on ethical decision making”” 5e edition by Jackson,sawyers, Jenkins.
it is located on page 54″
what is the irr, and npv of these projects? year 1 =1,100,000 year 2= 1,450,000 year 3=1,300,000 year 4= 950,000
Attached is pdf file of homework problem due Tuesday at noon I’ve increase price to $25. Session 4 Problem 1 In 2011, three years after it began operations, Michel Enterprises decided to change from t…
Charles Jackson, the accounting manager at Big Al’s , has just returned from a conference on activity-based costing in Seattle and thinks big Al’s should consider implementing an ABC system at the…
For Dousmann Company actual sales are $1,401,000 and break-even sales are $817,600. Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio. (For margin of safety
How can we manage bank balances? How can we preauthorize the debit transactions?
I have some comprehensive managerial questions I need help with. I need to answer A, B & C of the attached.
The condensed financial statements of Westward Corporation for 2006 are presented below. Westward Corporation Westward Corporation Balance Sheet Income Statement December 31, 2006 For the Year Ended D…
To the firm, the use of debt capital can be risky (debt versus equity), while for the investor, the opposite is the case. Why do you suppose this is the case?
“Name
Company ID
Company Comparison and Evaluation
Using the ratios provided in the file “”RatioCalculations”” calculate the ratios for Eastvaco. If you are unable to find sufficient d…”
“17-43 Computation, Recording, and Funding of Pension Expense
Averon Industrial, Inc., computed the following components of pension expense for the years 2013-2015:
(in thousands)
Components of Pen”
A business received an offer from an exporter for 10,000 units of product at $18 per unit. The acceptance of the offer will not affect normal production or the domestic sales price. The following data
Jupiter Corp. owns material that originally cost $50,000. It can be sold “as is” for $24,600, but if processed at a cost of $3,200, it could be sold for $26,000. The incremental effect on the comp…
Direct materials are not usually easily traced to a product.(TRUE OR FALSE)”
What should be the primary goal of a forensic accountant in litigation support?
Blue Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company’s assets in that country. If the likelihood of expropriation is remote, a loss conting
“If beginning capital was $70,000, ending capital is $48,000, and the owner’s withdrawals were $21,000, the amount of net income or net loss was (Points: 3)
net income of $42,000
ne”
Electronic Component Company is a producer of high-end video and music equipment. ECC currently sells its top of the line “ECC” DVD player for a price of $250. It costs ECC $210 to make the player. EC
“A&B Enterprises is trying to select the best investment from among four alternatives. Each alternative involves an initial outlay of $100,000. Their cash flows follow:
Year A”
see document on attachment Módulo 7: Sistema de costo estándar, presupuesto flexible y análisis de variaciones MULTIPLE CHOICE QUESTIONS AND EXERCISES I.Multiple Choice: Choose the correct answer b…
what are the journal entries forr bonds issued for 10 million 6% general obligation bonds at 101. sold on july 15th
“How would the collection of an account receivable affect the current ratio and the quick ratio, respectively?
No effect on current ratio; increase in quick ratio
Increase in current ratio; i”
Chin Company incurred direct materials costs of $300,000 during the year. Manufacturing overhead applied was $280,000 and is applied based on direct labor costs. The predetermined overhead rate is 70%
“Montana Woolen Products has two divisions: a Fabric division that manufactures woolen fabrics, and a Clothing division that manufactures woolen dresses, coats, shirts, and accessories. All fabric use…
What is the difference in treatment when an incoming partner purchases an interest by agreeing to perform services for the partnership and the partnership (1) gives a 25% interest in the capital of th
What types of advertising and promotion are used for Mcdonald’s Corp? Please provide references.
“Case 8.11 – Societe Generale
Research relevant databases to identify important recent developments within France’s accounting profession, including the nation’s independent audit function….”
“What are all the measurement basis of US GAAP? I know there are historical cost, present value measurement only).
Thanks
Irma”
sue now has $490. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?
Comprehensive Managerial question, with answers. But answers need to be checked and answers only (w/supportive info, but not quest. or directions)to be transfered to xls. THE UTEASE CORPORATION (p.112…
The auditee has just acquired another company by purchasing all its assets. As a result of the purchase, “goodwill” has been recorded on the auditee’s books. Which of the following comparisons would b
LCI Cable Company grants 3 million performance stock options to key executives at January 1, 2011. The options entitle executives to receive 3 million of LCI $1 par common shares, subject to the achie
“Tighe won a new automobile from his employer for being the top salesperson in the entire
The auto cost the employer only $34,000 because he purchased a fleet of cars from the
dealer; it had a”
“Let’s try an example (an easy one without any unplanned price increases):
Noche Building Blocks is preparing its budget for 2011. Production for the first quarter will be 600,000 blocks. Productio”
“3. When bonds are retired prior to their maturity date: (Points : 1)
GAAP has been violated.
The issuing company probably will report an ordinary gain or loss.
The issuing com”
Horton, Inc., owns 90 percent of Juvyn Corporation’s voting stock. The purchase price exceeded book value and fair value by $80,000. Juvyn holds 20 percent of Horton’s voting stock. That purcha…
Seton Company manufactures a single product that sells for $360 perunit and whose total variable cost are $270 per unit. The company’s annual fixed costs are $1,125,000. (1) Use this info to compute t
“Using Landry’s Restaurants, Inc. 2003 Annual Report located in Appendix A of the text, Fundamentals of Financial Accounting, prepare a 1,050-1,750-word paper in which you answer ALL of the following …
case 4-31 managerial accounting 12th edition, Garrison, Noreen, Brewer
Winona, Betty and Rose formed the WBR Partnership by making capital contributions of $250,000, $340,000 and $170,000 respectively. hey predict annual partnership net income of $380,000 and are conside
“–If the contribution margin per unit is $15 and it takes 3.0 machine hours to produce the unit, the contribution margin per unit of limited resource is:
(a)$25.
(b)$5.
(c)$45.
(d)No correct answe”
need help on accounting filling out appendix G 1 . ASSIGNMENT INSTRUCTIONS: 2. Assignment: Comprehensive Problem Complete the Comprehensive Problem on pp. 189-190 of Financial Accounting. • Use th…
Claire Manufacturing expects to produce and sell 6,000 units of Big, its only product, for $20 each. Direct material cost is $2 per unit, direct labor cost is $8 per unit, and variable manufacturi
“Yi Corporation has no preferred stock and reports the following:
2009
Earnings per share $1.80
Dividends per share $0.72
Book Value per share-end of year $8.62
If price-to-book value at t”
“What is your estimate of the intrinsic value of Home Depot’s stock as of February 1, 2001, assuming that it will have: (a) the same sales growth rate as in fiscal 2000 for the next fifteen years, (b)
Berkley Company, a manufacturer of many different products, changed its inventory method from FIFO to LIFO. The LIFO method was determined to be preferable. In addition, Berkley changed the residual v
4 Journal entries; cost accumulation) Stockman Com. began 2010 with three jobs in process: TYPE OF COST Job No. Direct Material Direct Labor Overhead Total 247 $77,200 $91,400 $36,560 $205,160 251
Can you explain me the exercise in excel? I seem to understand it better how the formula worls, versus the word.Thank you again.
Kim is the sole shareholder and CEO of KimTech, Inc., a technology company valued at approximately $5,000,000. KimTech is a C corporation for federal tax purposes. In 2007, KimTech had net pretax prof
A small Company has a Book keeper doing their books for 10 years when it is discovered that she has stold over $400.000.00. She was a one time owner of the book keeping firm that the CPA firm that has
ELO corp. purchased a patent for 180000 on sept 1 2006. It had a useful life of 10yrs. Jan 1 2008. ELO spent 44000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the r
Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000,
“(Computation of Basic and Diluted EPS)
Charles Austin of the controller’s office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for”
“2. What is the monthly debt service payment on Marco’s loan if Enrique lends him $15,000 for
four years at 8% interest?
Tanya is trying to prepare her loan amortization schedule for the renovat…”
“in determining cash flows from operating activities (indirect method), adjustments to net income should not include:
an addition for depreciation expense
an addition for bond discount amorti”
“Below is selected information from Tricrop. Use this information to solve the Questions 1 and 2 below:
—Year 1—
Assets/common equity: 1.37
Net profit margin: 19%
Income tax rate: 47%
Reve”
Emily Patrick formed Teal Corporation a number of years ago with an investment of $200,000 of cash, for which she received $20,000 in stock and $180,000 in bonds bearing interest of 8% and maturing in
The homework assignment is partially completed I need help parts of the missing journal and other data fields. Worksheet for assignment see next tab. Problem 15-1A Name: Section: Enter the appropriate…
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 shee…
CPA is a newly established janitorial firm, and the owner is deciding what type of checking account to open. CPA is planning to keep a $500 minimum balance in the account for emergencies and plans to
Why is the revenue recognition principle needed? What does it demand?
“Comprehensive Problem 1 Period 2 The Accounting Cycle
Assets Revenues
101 Cash 401 Registration Fees
122 Accounts Receivable 404 Vending Revenue
142 Office Supplies
144 Food Supplies Expens”
“Target pricing:
is used for short-term pricing decisions
is one form of cost-based pricing
estimates are based on customers’ perceived value of the product
relevant costs are all va”
What are some reasons that we really need to pay as close or maybe closer attention to our cash flow statements as we do our P&L on a periodic basis?
Gene purchases land five years ago as an investment. The land cost him $200,000 and is now worth $530,000. Gene plans to transfer the land to Dee Corporation, which will subdivide the land and sell
Engles Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $125,920 and will increase annual expenses by $82,970 including depreci
Do you always have to capitalize something if it has a useful life of more than 1 year?
Can you help me answer this question. Im having a hard time plugging in the numbers. Student Name: Class: Problem 14-19 SWEETWATER CANDY COMPANY Requirement 1: Annual Cash Flow Reduction in annual ope…
“1) Sanchez Company sold land for $100,000 to Belita Sanchez, who owns 60 percent of the outstanding stock of Sanchez. The company’s adjusted basis in the land is $120,000.
Compute the company?…”
“Can you please let me know which question you aswered? is confusing.
Problem #1 ( 25 points )
A company established a petty cash fund of $100 on September 1. On September 10, the petty cash fun”
LiveForever Biotechnology Corporation (LFBC) has a new potential drug developed by their research group. Drugs go through four stages: 1) research, 2) development including investments in production
Bond Issued at a Premium On January 1, 2003, Buster Corporation issued 100 bonds with a par value of $ 1,000 each. The stated interest rate on the bond is 10% payable annually on December 31 of each y…
Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. If the corporate tax rate is 32 percent, what is the aftertax co
The Clarke Chemical Company produces a special kind of body oil that is widely used by professional sports trainers. The oil is produced in three processes: Refining, Blending, and Mixing. Raw oil mat
Quayle Corporation’s inventory cost on its balance sheet was lower using first-in, first-out than it would have been using last-in, first-out. Assuming no beginning inventory, in what direction did th
“14
Prepare journal entries to record these transactions: (a) Blaska Company retires its delivery equipment, which cost $52,500. Accumulated depreciation is also $52,500 on this delivery equipment.”
Francis Company uses flexible budgets. At normal capacity of 8,000 vases, budgeted manufacturing variable overhead is $48,000. If Francis had actual variable overhead costs of $58,500 for 9,000 vase
“6. Anna, age 75, receives social security benefits of $6,000. The following people also provided money for her support.
Alex, son $3,000
Ray, brother $1,000
Freeda, neighbor $4,000
Janice, da”
worked on this case for over two years. The jury awarded my client $2,000,000 in damages, of which my fee was $300,000 plus recovery of expenses paid up front in the amount of $25,000. How is the $300
“which one of the following firms is most apt to have the shortest inventory period?
general merchandise retail store
hardware store
furniture store
locomotive manufacturer
delicate”
i have attached my project AMIS 631 Autumn 2010 Project I Subprime-R-Us: Residual Interest Valuation 1 Subprime-R-Us was founded in 1995 to originate, retain, purchase, sell and service home mortgage …
“Mamagement Control in the 21st century
i need powerpoint slides of this articals with introduction,issues, reasons and conclusion andso on.”
Jane Adams applied for a job in a factory driving a forklift truck. The job requirement included weighing at least 160 pounds to have suffecient strength to pick up the 100 pound boes which were carr
“P. 7-8 Winterton Group
7-23 Reed Park Inc
8-6 Joint Products, Inc.
8-12 WWWeb Marketing
8-19 Ferguson Metal
Accounting for Decision Making and Control”””
“Below is information for year ended 12/31/00 for Company A and Company B. Use this information to solve the Questions 1, 2, 3, and 4 below:
—Company A—
Interest expense: $ 400
Tax expense”
With the extensive use of accounting information system, good controls are accomplished through a well-designed and reliable information system. Please name several IT decision points at which CFOs co
Beeman Corporation estimates that a 3% increase in retained customers is estimated to cause the organization’s gross margin ratio to increase by 2.4%. Beeman’s current sales are $20,000,000 and the co
Explain the purposes,types, and uses of special journals.
Lake shuttle Inc. is considering investing in two new vans that are expected to genete combined cash inflows of $20,000 per year. The van’s combined purchase price is $65,000. The expected life and sa
“Holligan publications established the following standard price and costs for a hardcover picture book that the company produces.
Standard price and variable costs:
Sales price”
“35. (4 points) Presented below is information related to T Company.
Ending inventory at most recent costs Cost index
12-31-05 $5,000,000 0
12-31-06 $5,252,000 0
12-31-07″
“17) Peaco*ck Company sells its product for $100 per unit. The company’s accountant provided the following cost information:
Manufacturing Costs: $20,000 + 40% of Sales
Selling Costs: $10,000 + 2″
Need help answering the questions attached, its from the IFRS into Intermediate Accounting
“The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:
Accounts payable
$18,000
Accounts receivable
11,000
Accumulate”
Sherman Construction Company was awarded a contract to construct an interchange at the junction of U.S. 66 and Highway 40 at a total contract price of $8,000,000. The estimated total costs to complete
I have looked in my textbook and tried looking up any information but I can’t find anything about the information regarding this assignment. Please help me locate. Attached is the assignment I’m seeki…
“Ch. 9 C4
Hilton Hotels Corporation and Marriott International provide hospitality services. Hilton Hotel s’well-known brands include Hilton, Doubletree, Hampton Inn, Embassy Suites, Red lion Hotels…”
Menson Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During December, the company budgeted for 5,800
“Find the latest 10k of Domino’s Pizza and please answer the following: Compute the times interest earned for the past two years and explain its meaning”
“Since all of our shares are owned entirely by U.S. investors, in addition to our corporate office being here in the United States, the company’s functional currency for financial reporting purpos…
Ghosh & Ghosh purchased some 7-year MACRS property five years ago. What is the current book value of this equipment if the original cost was $89,000?
“Sharp Company
Comparative Balance Sheet
December 31
2011 2010
Cash $ 64,000 $ 36,000
Accounts receivable, net 53,000 57,000
Inventory 171,000 123,000
Land 180,000″
Greene Enterprises prepares monthly departmental reports in an effort to control its operating costs. Each department has a manager to whom the report is addressed and who is held responsible for the
Reeves Company uses a predetermined overhead rate of $6.00 per machine hour. If the predetermined overhead rate was $6 per machine hour, overhead was underapplied by $40,000, and actual machine hours
“Find true statement(s):
Capital budgeting decisions are more consistent with cash accounting than accrual accounting.
The issuance of stock warranties and options tends to reduce earning”
“8. Change in accounting principle.
In 2011, Fischer Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a FIFO basis for the four years”
a fund that is used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the governmental unit, or to other governmental units, on
“Ringle Company is a manufacturer of compact disks (CDs). Place each of the following costs in the appropriate column.
Product Cost Cost item
Cost item Period Dir”
(Ignore income taxes in this problem.) Five years ago, the City of Paranoya spent $30,000 to purchase a computerized radar system called W.A.S.T.E. (Watching Aliens Sent To Earth). Recently, a sales r
Case 8-8 At the end of the first year of operations, Key company had a current equity securities portfolio classified as available-for-sale securities with a cost of $500,000 and a fair value of$550,0
The second part to the first is to include: 1. Adjusting Entries to the General Ledger and then 2.Prepare Closing Entries to the General Ledger. You will find the tabs within the document attached, wh…
“Procter & Gamble Company is a Cincinnati-based company that produces household products under
brand names such as Gillette, Bounty, Crest, Folgers, and Tide. The company’s 2006 income statement
..”
Manufacturing costs are estimated to be $360,000 and $450,000 for July and August respectively. These amounts include $30,000 of monthly depreciation plant and equipment expense. Cash payments are pai
“FORM 1040 —” U.S. INDIVIDUAL INCOME TAX RETURN
Assume that the taxpayers, George A. Warden (social security number 333-33-3330) and Mary S. Warden (social security
number 444-44-4440) fi le a …”
Discuss the legal ramifications of noncontrolling interest?
What are the differences between job-order cost and process-cost systems?
“Use the balance sheets of Sando shown below to calculate the following ratios for 2008 (round to the hundredths):
Current ratio.
Acid-test ratio.
Debt ratio.
Equity ratio.”
see the attach Page Corporation began the month of May with $884,000 of current assets, a current ratio of 2.6:1, and an acid-test ratio of 1.5:1. During the month, it completed the following transact…
At Frank Company, there are 800 units of ending work in process that are 100% complete as to materials and 40% complete as to conversion costs. If the unit cost of materials is $4 and the costs assign
“The cumulative feature of preferred stock
limits the amount of cumulative dividends to the par value of the preferred stock.
requires that dividends not paid in any year must be made up in a l”
Discuss the benefit buyouts. GM is doing it and some other company may follow. What do you think of the buyouts? If you were a GM employee, would you accept the buyout? Why or why not?
purchased land mineral mine $1,600,000 additional costs $600,000 develop mine geologist estimated $400,000 tons of ore would be extracted resale value $100,000 building on site cost of $150,000 useful
The balance sheet that follows indicates the capital structure for Nealon. Inc. Flotation costs are (a) 15 percent of market value for a new bond issue, and (b) $2.01 per share for preferred stock. Th
“Case 2. Each autumn, as a hobby, Suzanne De Angelo weaves cotton placemats to sell
through a local craft shop. The mats sell for $20 per set of four. The shop charges a 10%
commission and remits the”
Thank you so much I did answer them by myself. If you need them feel free to ask.
Prepare a table that illustrates the percentage change in costs between the volume-based system and the strategic activity-based system.
“9. When consolidating a subsidiary under the equity method, which of the following statements is true?
Goodwill is never recognized
Goodwill required is amortized over 20 years
Goodwill ma”
“Ace company’s net income for the year is $4 million and the number of common shares outstanding is 3 million
(there is no change in shares outstanding during the year). Ace has options and warrant”
“This is accounting
http://www.mediafire.com/i/?drznzzumnzy
http://www.mediafire.com/i/?mejz4vjngtj
Can you solve questions of problem 1 and 2 “””
“””Which of the following items is not includible in the decedent’s gross estate?
A lump sum distribution from a qualified profit sharing plan to decedent’s daughter who elects five year forward av”
What are some of the characteristics of a victim in a personal injury case that might impact the calculation of economic damages?
“a) Outline revenue recognition criteria under modified accrual accounting. Include specific requirements
for property tax revenue.
Outline expenditure recognition criteria under mo”
“Problem ( 60 points ) SHOW ALL WORK !!!!!!!
A company’s employees had the following earnings records at the close of the current payroll period:
The company’s payroll taxes expense on e”
“On a CVP graph for a profitable company, the total expense line will be steeper than the line representing fixed costs.
True
False”
“Condensed financial data of Fulton Corp. for 2008 and 2007 are presented below.
FULTON CORP.
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2008 AND 2007
2008 2007
Cash $800 $600
Investments”
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
“Explain the purpose of and method of depreciation for partial years.
180 words needed”
Procter and gamble company is a Cincinnati-based company that produces household products under Brands names as Gillette, Bounty, Crest, Folgers. The company´s 2006 income statement showed the follow…
Amy works as an auditor for a large major CPA firm. During the months of September thru and November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, eve
What are the differences between fair value can flow and foreign currency hedges? What is the difference between accounting for foreign currency transactions and foreign currency translation? Are ther
pLEASE SEE MY ATTACHED PAGE FOR MY QUESTION FOR ACCOUTING 548 5-7 The Village of Harris issued $5,000,000 in 6 percent general obligation, taxsupported bonds on July 1, 2008, at 101. A fiscal agent …
“You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest re”
“E15-6 (Stock Issuances and Repurchase) Loxley Corporation is authorized to issue 50,000 shares of $10 par value common stock. During 2010, Loxley took part in the following selected transactions.
“
Explain when revenues are (a) realized, (b) realizable, and (c) earned. Give at least one example of each
“South-Western Federal Taxation Comprehensive Volume 2011
Problem 2 APPENDIX E PAGES E4-E8″
As part of a Careers in Accounting program sponsored by accounting organizations and supported by your company, you will be taking a group of high-school students through the accounting department in
“Kearney Company declared a cash dividend in its common stock in December, 2011, payable in January, 2012. Retained earnings would
Increase on the date of declaration
Not be affected on the da”
If Marisa drove n miles in t hours, which of the following represents her average speed, in miles per hour?
I have attached the problems. P9-2 Cost performance report and budgeted profit and actual profit for a service business. The budget for the Baldwin Equipment, Inc. job consisted of the following amoun…
“Case 09-8 Classified Information
Lads and Lassies (L&L), an SEC registrant, has its year end on the Saturday closest to January 31. Fiscal 2006, 2005, and 2004, which include 52 weeks each, ended on”
“Below is information for year ended 12/31/00 for Company A and Company B. Use this information to solve the Questions 1, 2, 3, and 4 below:
—Company A—
Interest expense: $ 400
Tax”
annual interest of 7%. The bond matures in 20 years. If the present yield to maturity for this bond is 9%, calculate the current price of the bond using annual compounding.
Rapache Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard cost system. In May 2010, 11,205 suits were produced. The following standard and actual cost da
Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin
Abrams Company manufactures miniature speakers that are built into the headrests of high-end lounge chairs. Based on past experience, Abrams has found that its total annual overhead costs can be repre
Crockett Corporation issued $200,000 of its 10 percent bonds payable on April 1, 2030. The bonds were issued at face value. Interest is payable semi-annually, on October 1 and April 1. Give the journa
“The three phases of setting up an accounting system are, in order
design, implementation, analysis
analysis, design, implementation
design, analysis, implementation
implementation, desig”
“Equity securities are:
Answer
1)recorded at cost to acquire them plus accrued interest.
2)recorded at cost to acquire them plus dividends earned.
3)recorded at cost to acquire them.
4)no”
Franco Company uses IFRS and owns property, plant and equipment with a historical cost of 5,000,000 euros. At December 31, 2011, the company reported a valuation reserve of 8,365,000 euros. At De
“””Determine the proper balances as of 12/31/2010 for a separate land account and a separate building account. Use separate T-accounts (one for land and one for building) “”
1/31/10 Land and dilapida”
“J.C Penny, a large retail company, has an inventory turnover of 3.4 times .Dell Corporation, a well-known computer manufacture, has an inventory turnover of 75.0 Dell achieves its high turnover throu
TMTOMH Company reported in its annual report software refinement expenses of $12M, $15M and $18M for fiscal years 2007, 2008 and 2009, respectively. At the end of fiscal 2009 it had total assets of $
Given the enormous responsibilities CFOs hold, they should have a good understanding of those deliberate frauds on the part of employees. Could you name some common types of frauds? What controls can
“1. T F The adoption of a new principle in recognition of events that have occurred for the first time or that were previously immaterial is not an accounting change.
T F There is a presumption”
“1.Give the major disadvantage of disregarding the cost concept and constantly revaluing assets based on appraisals
and opinions.
Comment on the validity of the following statements: “”As an asset”
“If a debtor defaults and the debtor’s surety satisfies the obligation, the surety acquires the right of
subrogation
primary lien
indemnification
satisfaction”
“Manufacturing overhead data for the production of Product H by Norland Company are as follows.
Overhead incurred for 54,000 actual direct labor hours worked $211,000
Overhead rate (variable $3; fi”
FI 504 – Accounting and Finance Midterm Exam (150 points)
P17-2 (Available-for-Sale Debt securities) On January 1, 2010, Novotna Company purchased $400,000, 8% Bonds of Aguirre Co. for $369,114. The bonds were purchased to yield 10% interest. Interest is pay
“Hi, I need help with the following:
Ethics Case 3
Parsing Electronics is interested in expanding its operations with a new manufacturing facility in Slovakia. The company prepares a capita”
Which of the following statements about the National Environmental Policy Act (NEPA) is most likely to be false? 9. A.The NEPA allows the federal government to bring suit against any private person wh
“The objective is for the student to become familiar with the cost-volume-profit analysis as a tool used for decision making. Review the “Consolidated Statements of Income” In Hershey’s 2007 ann…
8% preferred stock, $100 par $190,000 Common stock, no par 184,000 Premium on preferred stock 15,200 $389,200 Part a. A stockholder has raised the following questions: 1. What is the legal capital of …
Frank Delaney owned and operated Delaney Motors, a General Motors automobile dealership in Ohio. Its operations consisted of new-car sales, used-car sales, parts sales, vehicle lease and rentals, vehi
A $300,000 bond was redeemed at 98 when the carrying value of the bond was $295,000. The entry to record the redemption would include a
“Identify three out of four types of classifications for non-influential investments in securities.
Answer
Please need 200 words”
Ok, but at this price, I need to pass both masteries; otherwise, a different mastery will be administered to me with different questions as mentioned before. I will then need to forward to Course Hero…
Alliance Software began 2011 with accounts receivable of $115,000. All sales are made on credit. Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost o
On February 1, 2006 John Lovlace issued 10%, $1,000,000 bonds for $1,116,000 JLI retired all of these bonds on January 1, 2007, at 102. Unamortized bond premium on that date was $92,800. How much gain
“wages of factory maintenance personnel would usually be considered to be:
Indirect labor;Manufacturing overhead”
the entry to record the application of overhead to jobs consist of a debit to ____ and a credit to_____
Silven Industries, which manufactures and sells a highly successful line of summer lotions and insect repellents, has decided to diversify in order to stabilize sales throughout the year. A natural ar
Corbin has a $15,000 basis in his 50% ownership in an S corporation and lent the corporation $5,000 last year. The corporation has $30,000 of other debt. This year the corporation reported a $100,
“Develop a brief answer to each of the following question:
Assume a large shipment of uninsured merchandise to you company is destroyed when the delivery truck has an accident and burns. Would you”
“Additional Revenue
Whitely Avard, plastic surgeon, had just returned from conference during which she learned of a new surgical procedure for removing wrinkles around the eyes, reducing the time”
“A local citizen donated land with a fair market value of $500,000 to the county government. The donor had
paid $550,000 for the land five years ago. The county incurred $150,000 in development costs”
“Question 3
At the end of 2009, Tatum Co. has accounts receivable of $622,243 and an allowance for doubtful accounts of $23,065. On January 24, 2010, it is learned that the company’s receivable from”
“Ramsey Corporation reported the following accounts and liabilities and balances in its financial statement.
Cash=$35,000
Inventory=$10,200
Equipment=$19,500
Accounts Payable=$16,350
Contributed c”
Identify a decision that has recently been made or will be made in the near futureby Starbucks. Identify two relevant and two non-relevant costs in this decision. Support your answers using CM calcula
“Please work problems; formula and showing how to solve problem is most important (so I can see how to solve similar problems).Thanks
Suppose Navistar’s Canadian subsidiary sells 1,500 trucks mon…”
Tony Bautista needs $25,000 in 4 years. What amount must he invest if his investment earns 12% annual interest compounded quarterly (4 times a year)? (Round answers to 2 decimal places, e.g. 12,350.2
“26-23 A. Which of the following is generally considered to be a major reason for establishing an internal audit function?
To relieve overburdened management of the responsibility for establishing”
Q1) Michael received land as a gift from his father in 2008. At the time of the gift, the land had a FMV of $185,000 and an adjusted basis of $210,000 to Michael’s father. There was no gift tax due…
discuss the view that the individual coompany financial statements in Germany are useful only for tax purposes.
Michael Moore owns stock in an S corporation. The corporation sustained a net operating loss during the year. Michael’s share of the loss is $5,000. His adjusted basis in the stock is $1,000. In add…
What is the need for elimination in the consolidation process? What accounts must be eliminated? Why? What are the ramifications of not eliminating journal entries?
6 The following is Allison Corporation’s contribution format income statement for last month: sales 800000 variable expenses 300000 contribution margin 500000 fixed expenses 400000 net operating incom…
“3. (Points: 1)
Determine if each of the following should be recorded as an asset (capital expenditure) or as an expense (revenue expenditure).
Matching pairs
cost to have store windows washe”
A financial manager is considering two projects, A and B. A is expected to add $ 2 million to profits this year while B is expected to add $ 1 million to profits this year. Which of the following stat
“E8-5 Hachey Company has accounts receivable of $95,100 at March 31, 2007. An analysis of the accounts shows these amounts. Prepare entries for recognizing accounts receivable.
Balance, March 3″
Have you thought of why some companies are not able to borrow enough from banks but able to raise funds through IPOs?
On January 2, 2011, the board of directors of Gimli Mining Corporation declared a cash dividend of $1,200,000 to stockholders of record on January 18, 2011, and payable on February 10, 2011. The divi
Abby Company has just implemented a new cost accounting system that provides two variances for fixed manufacturing overhead. While the company’s managers are familiar with the concept of spending vari
leasing has become a way that many organizations attempt to hide liability. How is this possible? What, from an accounting standpoint, must a company recognize in most basic leasing transactions?
I tried sending this earlier~hopefully it works this time. I have attached the appendix that I am supposed to fill out. Thank you for your help. I have been pressed for time this week. Tony Masasi sta…
On December 31, 2007, Heerey Company grantede some of its executives options to purchase 60,000 shares of the company’s $50 par common stock at an option price of $60 per share. The Black-Scholes o…
“Julia’s Candy Co. reports the following information from its sales account and sales budget:
SALES: May………. $105,000
…….. 93,000
Expected Sales: July……. $90,000″
What is the difference between direct and indirect methods of income verification?
“Explain the following in a short memo to your instructor.
The comparative advantages and disadvantages of ideal versus normal standards.
The factors that should be included in setting the pr”
Will need to use template for answers. Module 3 Exercises Problem 1 Indentify the costs below as variable, fixed, or mixed. Moctezuma Furniture Corporation incurred the following costs. 1. 2. 3. 4. 5….
“See attached file.
Lavvy Candy Corporation manufactures giant gourmet suckers. The cost standards developed by Lavvy appear below. Manufacturing overhead at Lavvy is applied to production on the …”
Tachibana Corporation has income per books before tax of $286,000. In computing income per books, Tachibana deducted $20,000 for meals and entertainment expenses, $3,000 for premiums on officers’ l
“9. The extended value chain:
Is a set of linked operations or processes that begins with obtaining resources and ends with providing products or services that customers value.
Is a relate”
Discuss several reasons why an auditor may not wish to continue a relationship with an existing audit client.
“Hi,
Please I need help with the following questions:
I also included a download link and attached it as a file as well. Thank you.
The link is: http://www.mediafire.com/file/4d4mamaxjw9xgy2/acc”
Kim Co. purchased goods with a list price of $175,000, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Kim Co. record as the cost of these goods?
I have 50 multiple choice questions I need help answering but there is only an 80 minute window to do so. I am willing to pay an extra $50, but it has to be answered in that 80 minute window and retur
28) A private university received $18,000,000 in tuition and fees during an academic year. Graduate assistantships, for which services were required, were awarded in the amount of $1,200,000. Scholars
If the grantor retains the power to revoke the trust, the trustee need not file a Form 1041. The Schmidt Trust generated a net operating loss this year of $200,000. The Trust terminates December 31,
“The difference between standard costs and budgeted costs is that standard costs (Points : 4)
refer to a single unit while budgeted costs refer to the cost, at standard, for the total number”
question 1-5 FALL 2010 A2332 Course Project 28 points Due Monday Nov 29 (hand in to lab 133MH by 7PM) Cash budget, Income statement and performance report using a flexible budget. INSTRUCTIONS: Read t…
“Sales Returns and Allowances and Sales Discounts are:
contra revenue accounts.
expense accounts.
revenue accounts.
contra expense accounts.
Thank you!!!”
Assume the January 1, 2012, net asset balances are as follows: $1,000,000 unrestricted net assets, $300,000 temporarily restricted net assets; and $1,700,000 permanently restricted net assets.
“The following information is taken from the 2007 general ledger of Clifford Company.
Rent Rent Rent expense $ 40,000
Prepaid rent, January 1 5,900
Prepaid rent, December 31 9,000
Sala”
“1. On December 31, 2007 Rainbow Appliances has $275,000 in accounts Receivable and an allowance account with a credit balance of $240. Current period net credit sales were $771,000, cash sales were $”
How to look for Low Risk factors from a companies 10 K
“Cendant Corporation’s results for the year ended December 31, 2011, include the following material items:
Cendant Corporation’s income from continuing operations before income taxes for 2011 is:”
“Use the following to answer questions 47-49:
Selected financial data for Barnstable Company appear below:
19×9 19×8
(in thousands)
Sales $1,500 $1,200
Operating Expenses 450 400
In”
“From the following list, identify each item as Operating(O), investing (I), financing(F), or not separately reported on the statement of cash flow (N).
___ Payment of cash dividend on common stock
_”
Foxworthy, Inc. is a manufacturer with a calendar accounting year. A physical inventory is taken on January 1, and any items not in inventory are charged to cost of goods sold. The current year is 201
“”1. Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic
What is Dell’s strategy for success in the marketplace? Does the company rely primarily on a customer intimacy, operational excellence, or product leadership customer value proposition? What evidenc…
Full costing a) Is the same as absorption costing b) Considers fixed manufacturing overhead as part of the cost of inventory c) Often does not provide the information needed for C-V-P analysis d) A…
“Harris Corporation: What does the cumulative provision related to the preferred stock mean?
The stockholders’ meeting for Harris Corporation has been in progress for some time. The chief financia”
“””n this class we study U.S. Generally Accepted Accounting Principles (GAAP). Over the years, U.S. GAAP was developed separately from International Financial Reporting Standards.
In today’s competi”
Will I get a detail description of my problem area?
Nonvested Employees-An Ethical Dilemma) Cardinal Technology recently merged with College Electronix, a computer graphics manufacturing firm. In performing a comprehensive audit of CE’s accounting syst
“Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information
Part A
ASSETS”
Advanced Management Accounting Questions Question 1) There is a company called Walmart, and it deals with machining work that is conventional. A variety of machines are used within the company, and th…
In which of the following circ*mstances would a CPA who audits XM Corporation lack independence? A) The CPA and XM’s president are both on the Board of Directors of COD Corporation. B) The CPA and XM’…
“The Reedy Company uses a standard costing system. The following data are available for November:
Actual direct labor-hours worked 5800 hours
Standard direct labor rate”
Attached F. Calvert and G. Powers have capital balances on January 1 of $50,000 and $40 respectively. The partnership income-sharing agreement provides for (1) annual $20,000 for Calvert and $12,000 f…
“Which of the following statements regarding E&P of a liquidating corporation is incorrect?
The character of an individual shareholder’s gain does not depend on the E&P of the liquidating
..”
Please show me how you got the answer thank you At December 31, Penny Corporation has total stockholders’ equity of $5,500,000. There are no shares of preferred stock outstanding.At year-end, 250,00…
“””40. (Points: 1)
At the end of 20B, Storage Company reported outstanding common stock (par $20) of $300,000. Total liabilities were $440,000 and total assets were $860,000. The company had no prefer”
“Misty Company reported the following before-tax items during the current year:
Sales – $600
Operating Expenses – $250
Restructuring charges – $20
Extraordinary loss – $50
Misty’s effective t”
Designers could earn additional $1,000,000 income before interest and taxes by expanding into new markets. However, the 4,000,000 the business needs for growth cannot be raised. The director strongly
“Relating to reporting and analyzing long-term liabilities, consider the following situation:
Assume that a company borrowed $100,000 on a 7¾% note payable with a 5-year life. Annual repayment was …”
“The activity base that would be most appropriate in a capital-intensive industry is
direct labor hours
direct labor dollars
sales volume
machine hours”
Which, if any, of the consolidation theories would be changed by FASB pronouncements? (For example, assume that a new FASB statement requires non-controlling interest share to be computed as the non-c…
Sam Robinson borrowed $14,500 from a friend and promised to pay the loan in 12 equal annual installments beginning one year from the date of the loan. Sam’s friend would like to be reimbursed for the
“The ratio of total cash, trade receivables, and marketable securities to current liabilities is
a)The acid-test ratio
b)The current ratio
c)Significant if the result is 2 to 1 or below
d”
Sherrod, Inc., reported pretax accounting incomeof 76 million………..
Jim Smith had trouble finding a job, so he decided to start his own sole proprietorship by the name of Designers, Inc. Jim is a web site designer and here are the results as of the end of the first ye
A company returns defective supplies that were purchased for cash and receives a cash refund. This transaction should be recorded IN WHAT JOURNAL?
Santo Corporation had net income of $250,000 and paid dividends to common stockholders of $50,000 in 2006. The weighted average number of shares outstanding in 2005 was 50,000 shares. Santo Corporatio
Need help with comprehensive problem 4. I finished a-e myself, but I do not know if my answers are right or not, also need answers (journal entries) for f-k. 1 Comprehensive Problem 4 Selected transac…
1a) Dove Company purchased bonds with a face value of $100,000 issued by Rock Enterprises. The bonds had a stated interest rate of 8%, a market rate of 6%, semiannual interest payments and were purcha
“At the end of 2009 But before any adjusting or write-off entries were recorded, the records and accounts of a corporation showed the following.
Bal, Accounts Receivable-trade $90,000. D”
A U.S. company is considering an investment project proposal to extend its operations in Germany.
what would be the average tax rate for a person who paid taxes of $5,000 on a taxable income of $50,000?
“Capital budgeting criteria A firm with a 14 percent WACC is evaluating two projects for this year’s capital budget. After-tax cash flows, including depreciation, are as follows:
Calculate NPV”
The prescribed accounting treatment for stock dividends implicitly assumes that shareholders are fooled by “small” stock dividends and benefit by the market value of their additional shares. Explain t
“1 point) The following information applied to Howe, Inc. for 2010:
Merchandise purchased for resale $300,000
Freight-in 5,000
Freight-out 8,000
Purchase returns 12,000
What were Howe’s 2010 inve”
“24. Which of the following is a function of the U.S. Department of Treasury?
Adjudicating claims for and against the federal government.
Monitoring the education of the federal budget.
Ove”
“14. Metcalf Company leases a machine from Vollmer Corp. under an agreement which meets the criteria to be a capital lease for Metcalf. The six-year lease requires payment of $102,000 at the beginning”
paula smith accepted a six month 9%, $10,000 note receivable from a customer on june 1. Smith has an arrangement with the Regency Bank to discount selected customer notes at 12%. If the note were d…
March, April, and May have been in partnership for a number of years. The partners allocate all profits and losses on a 2:3:1 basis, respectively. Recently, each partner has become personally insolven
Discuss the allowance method and the direct write-off method of accounting for bad debts. When is the expense for uncollected accounts receivable recognized under each method?
I have attached the problems that I have to complete. E6-2 Computing equivalent production, unit costs, and costs for completed units and ending inventory Swedish Navy Company manufactures wristwatche…
“The following data were accumulated for use in reconciling the bank account of Spectrum Co. for July:
Cash balance according to the company’s records at July 31, $8,346.50.
Cash balance accord”
What is the difference between accounting for foreign currency transactions and foreign currency translations?
Great Corp. sells its product for $30. Variable costs are $10 per unit. At the current volume of 40,000 units sold per year, the company is just breaking even. Given this data, the annual fixed costs
“Michael,
I am unable to extend the time. Unfortunately I just found this website last night and didn’t know how to use it. I’m hoping you can help me, but understand if you can’t.
Que”
Cole, Inc., which owes Henry Co. $600,000 in notes payable with accrued interest of $54,000, is in financial difficulty. To settle the debt, Henry agrees to accept from Cole equipment with a fair valu
“6) Select the incorrect statement concerning the internal rate of return (IRR) method of evaluating capital projects.
If a project has a positive net present value then its IRR will exceed t”
Why could ABC be a useful tool particularly in pricing products accurately? Any examples?
“A business receive a cash payment for service render. Which of the following occurs?
(a)an asset is debited and a revenue account is credited.
(B) an asset is debited and a revenue account is debit”
A company has bonds outstanding with a par value of $100,000. The unamortized premium on these bonds is $2,600. If the company retired these bonds at a call price of 95, the gain or loss on this retir
“The following is selected information from M Corporation for the fiscal year ending October 31, 2007:
Cash received from customers $300,000
Revenue earned”
“28) Which manager is usually held responsible for materials usage variances?
production supervisor
plant manager
purchasing agent
marketing manager”
“Razmataz Company makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Budget for the last half of
the year. The following budget data are avai”
“Cash 50000
Administrative Expenses 100000
Selling Expenses 80000
Net Sales 540000
Cost of Goods Sold 260000
Cash dividends decalred (2010) 20000
Cash dividend paid (2010) 15000
Discontinued ope”
in which countries does taxation tend to have a major influence on published company accounts? Discuss how this influence takes effect and what the position is regarding the treatment of taxation in c
Igor Inc. had a predetermined overhead rate of $2 per direct labor hour. The direct labor hours were estimated to be 25,000. The actual manufacturing overhead incurred was $47,000 and 24,000 actual di
If fixed cost are $600,000 and the unit contribution margin is $12.00, what amount of units must be sold in order to realize an operating income of $100,000
“Absent any special provision (e.g., Code Sec. 351), a transfer of property from a shareholder to a corporation in return for its shares would result in:
full gain or loss recognition
partial”
attached is a accounting question can you answer them for me? Advanced Accounting Take Home Exam ch 3 & 4 Name ___________________________________ Date _____________________ 1. On January 1, 2009,…
Can you please work the excel sheet, most the answers are filled in already just fill in the blank areas that need the numbers filled in, the instructions are on the first sheet, the actual fill in wo…
“I need help to complete requirements #3 & #4. How do I prepare a consolidated worksheet using the parent company concept?
Here are some check figures.
Sales – $927,600
Net Income – $64,425
…”
“What would you do in this situation
You are a CPA with a medium-size accounting firm. One of your corporate clients is an electrical contractor in New York City. The client is successful and had $10″
“16-3
Qunitana Pena expects to receive a $500,000 cash benefit when she retires five years from today. Ms. Pena’s employer has offered an early retirement incentive be agreeing to pay her $300,000…”
“1- The following taxes were paid by Tim:
Real estate taxes on his home: $2,000
State income taxes: $900
State gasoline tax (personal use of automobile): $150
In itemizing his deductions, what is”
“(Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing
the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume
that you have separately…”
“Wheeler Corporation had retained earnings as of 12/31/08 of $12 million. During 2009, Wheeler’s net income was $4 million. The retained earnings balance at the end of 2009 was equal to $13 million
please use template sttached, Thank you. Module 5 Exercises Problem 1 ∙ ∙ ∙ ∙ Frizell Company is preparing its manufacturing overhead budget for 2011. Relevant data consist of the following. U…
Larissa Company has a unit selling price of $630, variable costs per unit of $378, and fixed costs of $216,468. Compute the break-even point in units using the (a) mathematical equation and (b) contri
How are the three traditional domestic auto firms addressing their increasingly competitive environment? (Consider cost management and outsourcing.)
attached Prior to the distribution of cash to the partners, the accounts in the NJF Company are: Cash $28,000, Newell Capital (Cr.) $17,000, Jennings Capital (Cr.) $15,000, and Farley Capital (Dr.) $4…
“””DATA FOR PROJECT TWO FOR ADVENTURES ADVANTAGE INC.
Situation: The firm builds thrill rides for amusem*nt and theme parks. The rides are engineered at
its headquarters in Tampa, Florida in collabo”
“10. Which of the following items would not be reported in the section on revenues and gains in the statement of activities of a private college or university?
Student tuition and fees.
Gif”
Managerial Accounting (James Jiambalvo) 4e Chapter 12, Case 1 solution problem
In march 2005, general electric had a book value of equity of $113 billion,10.6 billion shares outstanding and a market price of $36 per share.General electric also had cash of $13 billon,and total de
S. Treasury bills held to maturity have a beta of zero. Why?
Harris Company manufactures and sells a single product. A partically completed schedule of the company’s total and per unit cost over the relevant range of 30,000 to 50,000 per units produced and sol
A company has a $1,000,000 bond issue outstanding with unamortized premium of $10,000 and unamortized issuance cost of $5,300. What is the book value of its liability? If an affiliated company purchas
“””Exercise 9-3
Crede and Rensing, CPAs, are preparing their service revenue (sales) budget for the coming year (2011). The practice is divided into three departments: auditing, tax, and consulting.”
“The following are budgeted data for the Bingham Company, a merchandising company:
Budgeted Sales (at retail)
January $300,000
February $340,000
March $400,000
April $350,000
Cost o”
“The following audit procedures are concerned with the tests of details of general cash balances:
Compare the checks returned along with the cutoff bank statement with the list of outstanding check”
external audit review AC555 – External Auditing Project Description For this project you will work independently and prepare your own document. Assume that you have just completed the audit of XYZ C…
“This is an accounting question: please see below:
Financial Accounting
BYP 8-5 As a new auditor for the CPA firm of Croix, Marais, and Kale, you have been assigned to review the internal control”
A plot of data that results in one extreme observation MOST likely indicates that
“The Everett Co. Had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employe”
“1) When convertible debt is retired by the issuer, any material difference between the cash acquisition price and the carrying amount of the debt should be
reflected currently in income, but”
“1. what amount will be in 8% bank account ten years from now if $5000 is invested each year for 5 years with the first investment to be made today?
what amount should an individual have in a 10% b”
“Successful reengineering involves:
cutting across functional lines to focus on the entire business process
redefining the roles and responsibilities of employees
using information tech”
“If a conflict of interest arises prior to entering into a business contract, the parties should
determine the type of conflict and if disclosure of the conflict of interest is sufficient to p”
“Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows:
Under SUTA for Illinois on taxable payroll of $18,000 the contribution rate is 4%
2)”
“dell had net sales of 35,404 million. Its average total assets for the period were 14,502 million, dells total asset turnover equals:
40.
35.
45.
44″
On June 1, 2011, Patriot Corporation declared a stock dividend entitling its stockholders to one additional share for each share held. At the time the dividend was declared, the market value of the st
At zero direct labor hours in a flexible budget graph, the total budgeted cost line intersects the vertical axis at $30,000. At 10,000 direct labor hours, a horizontal line drawn from the total budget
“The following information is available for the Avisa Company for the month of November:
On November 30, after all transactions have been recorded, the balance in the company’s Cash account has”
Fred Farmer and his two sons owned 100 percent of Fruits and Nuts, Inc. Fred owned 50 percent of the stock, but he had 25 percent redeemed by the corporation for a building with a basis of $10,000 and
“Solve the following
You have an opportunity to buy a $1,000 bond which matures in 10 years. The bond pays $30 every six months. The current market interest rate is 8%. What is the most you wo”
In 2010, Grant’s personal residence was damaged by fire. Grant was insured for 90% of his actual loss, and he received the insurance settlement. Grant had adjusted gross income, before considering the
“a change in estimate should
result in restatement of prior period statement.
B)be handled in future periods only.
be handled retroactively.
be handled in current and future periods”
“Question: Describe how costs flow from inventory to cost of goods sold for the following methods: (a) FIFO and (b) LIFO.
FIFO assumes costs flow in the order incurred. The earliest cost incurre”
Manning Industries manufactures and sells three different models of wet-dry shop vacuum cleaners. Although the shop vacs vary in terms of quality and features, all are good sellers. Manning is current
“Linda Stanley and State University (Legacy Systems to an ERP) C£oC
Linda Stanley is the Vice President for Computing and Information Services at State
University (SU), a large, urban university tha…”
the dash club of tampa,fl, collected recipes form members and published a cookbook entitled life to the party. the book will sell for $25 per compy. the chairwoman of the cookbook development committe
“Please I need help answer these three accounting question need ASAP
Let’s say you are in a meeting and someone says: “”I don’t see the point of making a detailed budget when our industry is so uns”
This is a tax return question that is due. It must be done using H&R Block 2009 software and must be submitted via .pdf format and the H&R block file must also be included. All schedules and forms mus…
“X Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals):
A Cash: $70,000;
B Inventory: FMV-$20,000 Basis-$20,00″
“note date Principal amount interest rate term
1 jun 1 18,000 10% 1 year
2 sep30 15,000 11% 3 months
3 oct 19 7,000 9% 60 days”
“Procedures in Collecting Forensic Evidence
As corporate controller for Apollo Shoes you are tasked to find and explain any irregularities in the Apollo Shoes Case.
Resource: Apollo Shoes Ca…”
“1. Calculating Cost of Equity The Dybvig Corporation’s common stock has a beta of .85. If
the risk-free rate is 5.2 percent and the expected return on the market is 12 percent, what is
..”
In capital budgeting (in recent years), what has been the advantage of financing with debt as opposed to equity?
I have attached the questions! Question #13 when a company uses a standard cost system; are the inventory accounts- Finished Goods, Work in Process, and Materials-valued at actual cost or standard cos…
Coffey Company maintains a very large direct materials inventory because of critical demands placed upon it for rush orders from large hospitals. Item A contains hard-to-get material Y. Currently, the
On May 31, 2007, Core Company issued 1,000, 14%, 10-year $1,000 bonds at 105. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at 102, but the mar
The following transactions were made by Waite Company. Assume all investments are short-term and are readily marketable. Jan. 1 Purchased 40, 8%, $1,000 Cotter Company bonds for $40,000 cash plus b…
How much would you be willing to pay (rounded to the nearest dollar) for a 20-year ordinary annuity if the payments are $4,500 per year and you want to earn a rate of return equal to 5.5% per year?
“problem 6-27 various cvp questions;breakeven point;cost structure;target sales
on pg. 273 od garrisons managerial accounting text book”
“1.
(Points: 1)
The examination is open book. As a result, the examination is challenging. You may have to use the index in the textbook and search engines on the Web to research certain ter”
a domestic corporation, owns 40 percent of Shane Corporation and 55 percent of Ferrell Corporation, both foreign corporations. Ferrell owns the other 60 percent of Shane Corporation. Both Shane and Fe
A corporation is subject to both the personal holding company tax and the accumulated earnings tax. Its regular taxable income is $200,000. Its adjusted taxable income for imposing the personal hol
financial accounting kimmel test questions examples
“15. Donnegan Manufacturing Company employs a standard cost system. A planned volume variance in the first quarter of 2008, which is expected to be absorbed by the end of the fiscal year, ordinarily s”
“Bonds with a face value of $200,000 were issued at 103. The entry to record the issuance will include a credit to the bonds payable account for:
a)$206,000
b)$200,000
c)$103,000
d)$230,000″
Working on Case 12-28. Attached you will find excel templet, brief reading, and questions. please let me know if this can be completed by the deadline. Thanks
Nye reported this audit finding to Rene Selma, the newly appointed controller of CE. A few days later Selma called Nye for his advice on what to do. Selma started her conversation by asking, “Can”t
An account is an important accounting record where financial information is stored until needed. Briefly explain (1) the nature of an account, (2) the different types of accounts, and (3) the manner i
Please read the week 6 exam 3 tips in the word doc attachment.
“CA8-1 (Inventoriable Costs) You are asked to travel to Milwaukee to observe and verify the inventory of the Milwaukee branch of one of your clients. You arrive on Thursday, December 30, and find that
“””””The Audit Report and Internal Control Evaluation. This paper should be posted as a Microsoft® Word attachment in the Assignment Section and should adhere to APA formatting style.
Please note ther…”
(TCO D) Information available prior to the issuance of the financial statements indicates that it is probable that, at the date of the financial statements, a liability has been incurred for obligatio
The group of key personnel has an important impact on an organization. Some companies carry director and officers liability insurance. Are these policies expensive? Why are they necessary?
An asset is acquired at a cost of $10,000 with a five-year life and no anticipated salvage value. Straight-line depreciation is considered appropriate. The asset was acquired on January 2, 2000. Price
“Poorly trained workers could have an unfavorable effect on which of the following variances?
Labor Rate Variance Materials Quantity Variance
Yes”
Mimi Company is considering a capital investment of $250,000 in new equipment. The equipment is expected to have a 5-year useful life with no salvage value. Depreciation is computed by the straight-li
“Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows:
Beginning work-in-process 10,000 units
Units started”
Under Part 4 (of the attached) – What is the effect of this sale to the partners and the partnership? Accountancy 654—Summer 2010 Online Assignment—August 3 Part 1 Tom and Betsy own and operate TB…
“If the market rate of interest is 10%, a rational person would just as soon receive $1,100 three years from now as what amount today (round to the nearest dollar)?
$ 783.
$ 826.
$1″
see at the attached file 1. An asset is considered to be liquid if: (1 it is readily converted into a current asset. ) it is an intangible asset. it is readily converted into cash. it is part of retai…
I:6-42 Timing of Expense Recognition. Solutions Corporation, a computer vendor and consulting company, uses the accrual method of accounting. Its tax year is the calendar year. The following are three
“Which of the following would be classified as an external failure cost on a quality cost report?
Product recalls.
Quality engineering.
Quality training.
Systems develop”
“Which of the following legal fees should be capitalized?
Legal fees to obtain a copyright? Yes or no?
Legal fees to successfully defend a trademark? Yes or NO?”
Suppose we are thinking about replacing an old computer with a new one. The old one cost us $309,600; the new one will cost $627,800. The new machine will be depreciated straight-line to zero over
“Nordham Corporation’s trial balance at December 31, 2008, is presented below. All 2008 transactions have been recorded except for the items described below and on the next page.
Debit Credit
Cas”
“1. S corporations offer advantages of passing profits, deductions, and credits through to
shareholders but protect their investors from personal liability.
True
False”
ADK Delivery is a small Co. that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves pkgs to and from a central depot within each city and
“Use the following format, in which the January 2 transaction is given as an example.
Account Debited Account Credited
(b) (c) (d) (a) (b) (c) (d)
Basic Specific Normal Basic Specific Normal
Da”
Assume that you are the controller for Carter hawley hale stores. The Chief financial office of Carter Hawley Hale stores has asked you to prepare a short memo from giving your recommendations as to t
Bell, by telegram to Major Corp., ordered 10,000 yards of fabric, first quality, 50% wool and 50% cotton. Major accepted the order and packed the fabric for shipment. In the process, it discovered tha
The City of South Pittsburgh maintains its books so as to prepare fund accounting statements and record worksheet adjustments in order to prepare government-wide statements. You are to prepare, in jo
“Explain the time value of money. Is it important for accountants to have an understanding of compound interest, annuities, and present and future value concepts? Why?
Elaborate on the nature of inte”
On February 10, 2012, after issuance of its financial statements for 2011, House Company entered into a financing agreement with Lebo Bank, allowing House Company to borrow up to $6,000,000 at any
A financial manager is considering two possible sources of funds necessary to finance a $10,000,000 investment that will yield $1,500,000 before interest and taxes. Alternative one is a short-term com
“Problem 5-6 Your supervisor asks you to analyze the potential purchase of Drew Company by your firm, Pierson, Inc. You are provided the following information (in million):
Pierson,Inc. Drew”
see the attachment Legacy issues $345,000 of 5%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $332,888 and their market rate is …
Please only answer # 2 Kim and Dan Bergholt are both government workers. They are considering purchasing a home in the Washington D.C. area for about $280,000. They estimate monthly expenses for utili
With the ever increasing pressure to keep costs down, companies have had to reduce the cost of benefits. Defined-benefit pension’s plans have become too costly due to unpredictable fluctuations in t…
“User’s response: P3-32A Journalizing adjusting entries [15-25 min]
Laughter Landscaping has the following independent cases at the end of the year on December 31, 2014.
Each Friday, Laughte…”
When a company establishes a retirement plan, they can either establish a trust to handle the funds or handle the funds themselves (most lare firms entrust the handling and investment of the plan’s fu
“Tupper and Tolin have decided to form a partnership to provide environmental testing services to industry. The individuals will share profits equally and have conveyed the following assets and liabil
Need help understanding these questions. On February 5, Pryor Corporation paid $1,600,000 for all the issued and outstanding common stock of Shaw, Inc., in a transaction properly accounted for as an a…
Entry Way Manufacturing produces two types of entry doors: Deluxe and Standard. The assignment basis for support costs has been direct labor dollars. For 2010, Entry Way compiled the following data fo
“16. After an expansion in the money supply in country A, which of the following is true?
Country A’s currency depreciates.
Country A’s domestic interest rate decreases.
Country A’s…”
If a company has a favorable profitability ratio, would you look further or is that enough information?
How can accounting information systems be utilized to protect the integrity of business transactions and the integrity of the business owners?
On January 1, 2008, Langly Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12
“Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2009:
Received in January 2009 rent that was due in December 2008—–$5,000
Received in December”
“13. Which one of the following statements about the cash receipts and disbursem*nts method is correct?
Partnerships that have a C corporation as a partner cannot use the cash receipts and
disbu”
The bank account as a control device that helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the data, complete the bank statement reconciliati
please dont worry about the part with the resume, please see the question again below, just the accounting part, thanks. The last question is (d)which ask for the correct cash balance as of may 31st…..
Questions attached in word document 1. Koufax Company had sales in 2010 of $1,500,000 on 60,000 units. Variable costs totaled $720,000, and fixed costs totaled $550,000. A new raw material is availabl…
Israel, who is single, has $95,000 of salary, $30,000 of income from a limited partnership, and a $47,000 passive loss from a real estate rental activity in which he actively participates. His modifi
answer for BYP5-5 When should surfing USA Co. record the sale
A reconciliation shows cash per bank ($22,484), NSF checks ($322), notes collected ($5,000 plus $106 interest), deposits in transit ($1,776), service charges ($35), outstanding checks ($4,717), and a
“Procedures in Collecting Forensic Evidence
As corporate controller for Apollo Shoes you are tasked to find and explain any irregularities in the Apollo Shoes Case.
Resource: Apollo Shoes Ca…”
W Travel Agency specializes in flights between Los Angeles and London. It books passengers on United airlines at $900 per round-trip ticket. Until last month, United paid W a commission of 10% of
How is the cost principle applied to plant assets, acquisitions, including lump-sum purchases?
What is most unusual about the balance sheet? 2. Compute trend percentages for net sales and net income. Use 2003 as the base year. Which trend percentage looks strange? Explain your answer. 3. Com…
“CA17-1 (Issues Raised about Investment Securities) You have just started work for Warren Co. as part
of the controller’s group involved in current financial reporting problems. Jane Henshaw, contro…”
“The following situations describe decision scenarios that could use managerial accounting information:
The manager of Taco Castle wishes to determine the price to charge for various lunch plates.”
Tara and Robert formed the TR Partnership four years ago. Because they decided the company needed some expertise in multimedia presentations, they offered Katie a 1/3 interest in partnership capital a…
“During the current year, merchandise is sold for $2,850,750. The cost of the merchandise sold is $1,995.525.
What is the amount of the gross profit?
Compute the gross profit percentage (gross”
“PROBLEM 3-1 Consolidated Workpaper: Two Cases
The two following separate cases show the financial position of a parent company and its
subsidiary company on November 30, 2011, just after the parent”
Baker’s Footwear has 8,000 shares of common stock outstanding at a price per share of $64 and a rate of return of 15 percent. The firm has 2,000 shares of 6 percent preferred stock outstanding at a pr
“The trial balance of the Trishia Company on December 31, 2010 (the end of its annual accounting period), included the following account balances before adjustments: Notes Receivable-$10,000 debit; I
At the beginning of the year, Jill’s basis in her 40% limited partnership interest was $10,000. During the year, the partnership reported a loss of $90,000 and the partnership obtained a $40,000 …
On June 4, White Corporation issued $400 million of bonds for $414 million. During the same year, $1 million of the bond premium was amortized. In a statement of cash flows prepared by the indirect
“Which of the following would be classified as an extraordinary item on the income statement?
loss on disposal of a segment of business
a sale of land
loss on disposal of a segment”
“REQUIRED:
From the meeting of senior DAP executives, develop a strategy map of objectives, as well as potential Balanced Scorecard measures, for DAP. You can be guided by the following questions:”
Magnolia, Inc. manufactures bedding sets. The budgeted production is for 55,000 comforters in 2010. Each comforter requires 7 yards of material. The estimated January 1, 2010, beginning inventory is 3
Based solely upon the following sets of circ*mstances indicated below, which set gives rise to a sales-type or direct-financing lease of a lessor? Transfers Ownership Contains Bargain Collectibility
“Problem 8-13
Now, assume that you work i the internal uadit function as a company that is considering a software package to hoep automate the process of h the requirement of the Sarbane Oxley Acto of”
How would you weigh risk against return? Is there a point when return makes risk invalid? Explain your answer well.
“The director of capital budgeting for a firm has identified two mutually exclusive projects, A and B, with the following expected net cash flows:
Expected Net Cash Flows
Year Project”
“E11-9
Northeast Airlines is considering two alternatives for the financing of a purchase of a fleet of airplanes. These two alternatives are:
Issue 60,000 shares of common stock at $45 per sha”
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $4,000,000 on March 1, $3,300,000 on June 1, and $5,000,000 on De
As a newly minted CPA, you obtain your first significant position as a tax professional: enior Tax Accountant for one of the offices of a regional accounting firm. Of course, the firm runs a notice o
The assumption that in the absence of contrary information a business entity will continue indefinitely is the:
“The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which it is earned is the:
revenue recognition principle.
matching princip”
A 60-day note receivable dated April 13 has a maturity date of June 11. June 12. June 13. June 10.
Distinguish managerial accounting from financial accounting. Include a brief discussion of the differences in the types of information provided to users as well as the differences of the users of the
Identify the typical steps in conducting a forensic accounting assignment. Explain which step(s) you feel are most critical in conducting the assignment.
“In 1988, when Sherry was 55 years old with an additional life expectancy of 20 years, she
purchased a single life annuity for $200,000 that was to pay her $15,000 per year for life
starting in 1989.”
If John were to make five equal deposits on each December 31, beginning on December 31, 2012, what is the required deposit?
Assume that operations on a work package were expected to cost $1500 to complete the package. They were originally scheduled to have been finished today. At this point, however, we have actually ex…
“Robyn rents her beach house for 60 days and uses it for personal use for 30 days during the year. The rental income is $6,000 and the expenses are as follows:
Mortgage interest -+
Real estate taxe”
“Why do I need to make a deposit when there is a message stating that this question is free?
Thanks”
“An increase in appraisal costs will usually result in an increase in:
prevention costs.
internal failure costs.
external failure costs.
opportunity costs.”
The Cheyenne Golf and Tennis Club requires its members to purchase stock in the corporation and to make a deposit of $10,000. The deposit is to be repaid in 30 years, and no interest is charged. Is th
A company borrowed $60,000 by signing a 60-day, 10% note payable from its bank. Compute the total cash payment due on the note’s maturity date.
“All the following are NOT discretionary fixed costs except:
Insurance
R&D
Utilities
Commissions
Labor
C & D Only”
The audit of the inventory management process is affected by the audit results from multiple other processes. Identify the processes, other than the inventory management process, that affect the audit
I am still awaiting for a reply-I posted yesterday morning and I still do not have a response. today night is my deadline-so if I do not have a response in the next hour then this will not do me any g…
“Consider the following information pertaining to a year’s operations of Youngstown Manufacturing:
Units sold 1,400
Units produced 1,600
Direct labor $4,200
Direct materials used 3,500
Fixed man…”
Amanda King has just been appointed director of recreation programs for Highland Park, a rapidly growing community in Connecticut. In the past, the city has sponsored a number of softball leagues in t
“The Management Process
Indicate whether each of the following management activates in a community hospital is part of planning (PL), preforming (PE), evaluating (E), or communicating(C ):
Leasi”
“Mike Horn Corporation manufactures sweatshirts for sale to athletic-wear retailers. The following information
was available for Horn for the years ended December 31, 2009 and 2010.
© KWW_Profession…”
“””Unbilled sales as of the balance sheet date
The unadjusted trial balance for Johnson Wholesale, Inc for the YEAR ended
March 31 is shown below, followed by a series of “”facts”” requiring adjusting”
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food recip…
“Company assembles computers from components supplied by various manufactures. Listed below are the costs incurred by the company this year:
Insurance on Assembly facility: $3,000
Cost of hard driv”
which accrual accounting and cash flow technique do you think would be most beneficial for a firm today? Why?
The Houston Corp. needs to raise money for an addition to its plant. It will issue 300,000 shares of new common stock. The new shares will be priced at $60 per share with an 8.5% spread on the offer p
The 2010 income statement of Wasmeier Corporation showed net income of $480,000 and an extraordinary loss of $120,000. Wasmeier had 100,000 shares of common stock outstanding all year. Prepare Wasmeie
“The factor which determines whether or not goods should be included in a physical count of inventory is
physical possession.
whether or not the purchase price has been paid.
legal”
The peach corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on January 1 2009, which vest in four years. The fair value of shares is $1
(Points: 2.5) Expense A is a fixed cost; expense B is a variable cost. During the current year the activity level has increased, but is still within the relevant range. In terms of cost per unit of…
Gage Corporation has two operating divisions in a semi autonomous organizational structure. Adams Division, located in the United States, produces a specialized electrical component that is an input t
I have attached the documents with the two questions. Please look it over and contact me with any questions. #2 Present entries to record the following summarized operations related to production for …
if bonds of $1,000,000 with unamortized discount of $10,000 are redeemed at 98, the gain on redemption of bonds is $10,000. True or False.
“A friend of yours has heard you are studying stockholders’ equity and needs your help in understanding some characteristics of a corporation. Explain each of these to him/her.
Separate …”
Evelyn sold her personal residence to Drew on March 1 for $300,000. Before the sale, Evelyn paid the real estate taxes of $3,000 for the calendar year. For income tax purposes, the real estate tax ded…
“5.Given the following information concerning a convertible bond:
Principal $1000
Coupon5%
Maturity15 years
..”
Rampart Hospital has total variable costs of 90% of total revenues and fixed costs of $50 million per year. There are 50,000 patient-days estimated for next year. What is the average daily revenue per
Dotterel Corporation uses the variable cost concept of product pricing. Below is cost information for the production and sale of 35,000 units of its sole product. Dotterel desires a profit equal to a …
“Exercise 13-2
An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts of Conard Corp. uncovered the following items. Assume all items involv…”
McGraw Corp. owned all of the voting common stock of both Ritter Co. and Lawler Co. during 2011, Ritter sold inventory to Lawler. The goods had cost Ritter $65,000, and they were sold to Lawler for $1
“Hi I have a Couple of questions that I need help answering because i don’t know. Please help me. Thank you
During the month of February, Hoffer Company had cash receipts of $7,500 and cash dis”
“Discuss the major points of Watts and Zimmerman’s Positive Accounting Theory.
How may their major hypotheses be applied to improving your ability as an accountant either inside or outside a fir…”
“Deines Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2012, the following balances related to this plan.
Plan assets (market-related value) $450,000
Projected b”
“Inventory turnover is calculated as cost of goods sold divided by ending inventory.
True False”
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
I need help with the accounts receivable section of the apollo shoe case for my auditing 2 class – I have attached the word documents for this section. Date: Mon, 28 JAN 2008 15:37:42 +0000 From: &quo…
At the high level of activity in November, 7,00 machines hours were run and power cost were $12,000. In April, A month of low activity 2,000 machine hours were run and power costs amounted to $6,000.
“Which of the following ratios gives a perspective on risk in the capital structure ?
Book value per share
Degree of financial leverage
Dividend payout
Price / earnings ratio”
Porto Bay Corporation manufactures and distrbutes leisure clothing. Selected tramsactions completed by Porto Bay during the current fiscal year are as follows: Jan 10. Split the common stock 4 for 1 a
“I need to get the answers for these questions
“”1. A key internal control in the sales and collection cycle is the separation of duties between cash handling and record keeping. The objective most d”
Construct a monthly cash budget for the clinic for the period January through June 2006 on the xl spread sheet that is attached and information about the clinic is attached.
“Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million, …
The 2010 net income of Atwater Inc. was $200,000 and 100,000 shares of its common stock were outstanding during the entire year. In addition, there were outstanding options to purchase 10,000 shares
“Preparing an Operating Budget
Ulster Company expects to sell 50,000 units of its product in the coming year. Each unit sells for $45. Sales brochures and supplies for the year are expected to cost $9″
Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at a cost of $9 per lamp. Runcke withdrew 4,650 lamps from the warehouse during the month. F
Parker is a 100% shareholder of Johnson Corp. (an S corporation). At the beginning of 2011, Parker’s basis in his Johnson Corp. stock was $14,000. During 2011, Parker loaned $20,000 to Johnson Corp. a
Vernon Co. is being sued for illness caused to local residents as a result of negligence on the company’s part in permitting the local residents to be exposed to highly toxic chemicals from its plant.
Fistman Corporation has a Parts Division that does work for other Divisions in the company as well as for outside customers. The company’s Machine Products Division has asked the Parts Division to pro
If beginning capital was $70,000, ending capital is $48,000, and the owner’s withdrawals were $21,000, the amount of net income or net loss was
“””The following is a pre-closing trial balance for sun city’s General fund as of June 30, 2009:
Debit Credit
Cash 116,500
Taxes Receivable-Current 29,000
Estimated uncollectible current taxes 3,0″
“Fird company manufactures a part for its production cycle. the costs per unit for 10,000 units of this part are as follows:
Direct materials $20
direct labor $15
variable factory overhead”
attached 2. Prepare adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense; Insurance Expensed; Interest Payable; and Supplies…
“PREPARE:
Multistep Income Statement
Statement of Retained Earnings
Balance Sheet
DAPHNE MAIN FASHION CENTER
TRIAL BALANCE
NOVEMBER 30, 2007
Debit Credit
Cash $ 26,700″
Termite infestation of a personal residence over a several year period. Erosion of personal use land due to rain or wind. PTS: 1 REF: p. 7-6 | p. 7-7 14. Which of the following events would pr
“CHAPTER 3: CONTINUOUS TAX RETURN PROBLEM
3-1 Problem Facts. Larry K. and Cathy L. Zepp have been married 19 years. Larry is 62 years old (Social Security number 123-45-6789) while Cathy is 57 years o”
How many customers can McDonald’s Corp. potentially market its products to? What would be the volume by customer? Please provide reference.
“15-4
Marlow Manufacturing Company established the following standard price and cost data.
Sales Price $7.50 per unit
Variable Manufacturing costs 00 pe”
The management of Arnold Corporation is considering the purchase of a new machine costing $400,000. the company’s desired rate of return is 10% for 1 through 5 years are 0.909, 0.826, 0.751, 0.683, an
“Which of the following is not a typical cash flow under operating activities?
Cash inflows from sale of goods or services
Cash inflows from sale of property, plant, and equipment
Cash”
annual interest of 2.5% paid if balance exceeds $750,$8 monthly fee if accounts fallsbelow minimum balance, average monthly balance $815, accounts falls below $750 during 4 months.
“The information below was extracted from Jackson Company’s various schedules, master budget and relevant accounts for March, 20XX:
Cash $14,000
Accounts Receivable $11,000
Inventory Beginning $30″
Whole Grain Bakery purchases an industrial bread machine for $25,300. In addition to the purchase price, the company makes the following expenditures: freight, $1,570; installation, $3,070; testin
Fraud is a major concern in the business world.In a few paragraphs, explain the difference between an intentional misstatement of financial statements and misappropriation of assets.
The attached document is part of my homework quiz. I noted the quiz tips provided by my instructor. You did great last, please help me this week. TO THE COURSEHERO TUTOR: BELOW ARE TIPS GIVEN TO THE C…
Assistance with completing the assignment 1. Shiny Kar company had the following transactions. For each transaction, show the effect on the accounting equation by putting the amount and direction (plu…
An audit client is being sued for $500,000 for discriminatory hiring practices. Required: Indicate the appropiate action the auditor should take for each of the following independent responses to the …
“Ethical Dilemma Allocation to achieve fairness: Americans with Disabilities Act
Much of managerial accounting deals with understanding and allocating costs. There are many different methods for do”
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Mary Janane’s capital statement reveals that her drawings during the year were $50,000. She made an additional capital investment of $25,000 and her share of the net loss for the year was $10,000. Her
Explain how professional skepticism is described in international auditing standards. Are there fundamental differences between U.S. and international auditing standards in terms of professional skept
“Subject:Replacement Decision, Computing After-Tax Cash Flows, Basic NPV Analysis
Mitchell Hospital (a large metropolitan for-profit hospital) is considering replacing its MRI equipment with a new m”
“During Year 2, Xan, Inc. had the following activities related to its financial operations:
Payment for the early retirement of long-term bonds payable (carrying amount $370,000) $375,000
Distributio”
Hopkins and Bruder CPAs incurred the following costs in performing audits during September 2008. The firm uses a work in process inventory account for audit engagement costs and records overhead in f
Give some examples of non-operating income (losses). Provide the same for operating income.
Chang and Danos share partnership profits and losses at 60% and 40%, respectively. The partners agree to admit Flint into the partnership for a 50% interest in capital and earnings. Capital accounts i
Rica’s Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pair of shoes are boxed individually, they are crated and shipped in batches. the shipping dept records both va
Jackson and Campbell have capital balances of $100,000 and $300,000 respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $120,000 of net income
Q 1: Parks Castings Inc. will manufacture and sell 200,000 units next year. Fixed costs will total $300,000, and variable costs will be 60 percent of sales: a. The firm wants to achieve a level of ear…
Estimate the revenue, receivables, inventory, of Ford stock
A firm with up-to-date, modern asset management practices, including cash management, just-in-time, and securitizing of accounts receivable, would tend to have a greater current ratio (current assets/
“During the current year, merchandise is sold for $2,850,750. The cost of the merchandise sold is $1,995.525.
What is the amount of the gross profit?
Compute the gross profit percentage (gross”
“The following information is available for the pension plan of Brady company for the year 2010
Actualan ezpected return on plant assets $15000
Benefits paid to nretirees 40000
contribution(funding”
“Increasing financial leverage can be a risky strategy from the viewpoint of stockholders of companies having
Steady and high profits
Low and falling profits
Relatively high and”
“Danner Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2009.
Sales: Quarter …”
T/F If you were to exchange common stock for land, the land would be an increase in the investing section and the common stock would be an increase in the financing section. If false, please expla
Use the following data to calculate the liquidity and profitability ratios listed below. Average common shares 10,000 Current liabilities $100,000 Capital expenditures $20,000 Net income $ 21,000 Cash…
Willkom Corporation bought 100 percent of Szabo, Inc., on January 1, 2009, at a price in excess of the subsidiary’s fair value. On that date, Willkom’s equipment (10-year life) has a book value of $30
Summarize the deposit rules for nonagricultural employers
What is the FASB Accounting Standards Codification (FASB ASC)? What is the purpose of FASB ASC? How do you think it can be used to make better accounting decisions? Do these standards apply to fund ac…
“25. A majority-owned subsidiary that is in legal reorganization should normally be accounted for using
consolidated financial statements.
the equity method.
the market value method.
“
I have attached the excel sheet for case 9-30. Please review.
In a trend analysis, an index number of 139 for 2009 sales indicates that a. sales for 2009 were 139 percent higher than sales for the same company in the base year. b. sales for 2009 for this company…
“Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning:
Pay $1,050,000 i”
Quentin Giordano owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr
I need to journalize an entry of issued 20,000 shares of common stock for $460,000
A Trial Balance shows plant/machinery £200,000 fixture/fittings £90,000. Further down the balance it shows Depreciation Provision plant/machinery £64,000. fixture/fittings £32,000. My notes then t…
Which of the following would be considered a use of cash for purposes of constructing a statement of cash flows
s of buying and selling securities. Which of the following is a capital asset for Ramon? a. The securities he buys and sells each day in the normal course of business. b. The securities he designates
“””Consider the following scenario:
The Ski Pro Corporation, which produces and sells to wholesalers a highly successful line of water skis, has decided to diversify to stabilize sales throughout the”
Larsen Corporation reported $100,000 in revenues in its 2010 financial statements, of which $44,000 will not be included in the tax return until 2011. The enacted tax rate is 40% for 2010 and 35% for
Garcia Company began 2010 with net assets of $80,000. Net income calculated by using the capital maintenance concept was $21,000. During 2010 owners contributed $26,000 of new capital. By year-end, th
“Bugnugget’s Crawfish Emporium specializes in the manufacturing and sales of specialty mudbug novelties and nibbles. Bugnugget has budgeted sales of $1,250,000 for 2XX9.
Bugnugget also has the follo”
Emily earns a salary of $150,000, and invests $60,000 for a 20% interest in a passive activity. Operations of the activity result in a loss of $400,000, of which Emily’s share is $80,000. How is he
“Breakeven analysis, what-if analysis
The Herschel Candy Company produces a single product: a chocolate almond bar that sells for $.40 per bar. The variable coss for each bar (sugar, chocolat”
During the month, a company with no departmentalization incurred cost of $45,000 for materials, 36,000 for labor, and 22,500 for factory overhead. Ther was no units in process at the beginning or at t
“Sunshine Service Center received a 120-day, 6% note for $40,000,dated April 12 from a customer on account. Assume a 360 day year.
Determine the due date of the note.
Determine the maturity val”
“In a period of falling prices, which of the following methods will give the highest net income?
FIFO
Specific identification
Average-cost
LIFO”
Topp Manufacturing Company acquired 90 percent of Bussman Corporation’s outstanding common stock on December 31, 20X5, for $1,52,000. At that date, the fair value of the noncontrolling interest was …
“What is the major theory behind compensation schemes ?
Compensation should be perfectly correlated with outcomes. Do you agree or disagree with this statement? Under what circ*mstances may it be (i”
“1. Identify three companies that have resulted in
a loss of reputation to the accounting profession.
As a result of these accounting scandals, the AICPA recognized the need for accounting profe”
When a decision is made among a number of alternatives, the benefit that is lost by choosing one alternative over another is the: a. realized cost. b. opportunity cost. c. conversion cost. d. accrued …
“Under which of the following conditions can a disclaimer of opinion never be issued?
Going-concern problems are highly material and significant.
The entity does not allow the auditors to have”
“Q 3-15: Classify each (a:s) as a:
CA Current Asset
NA Noncurrent Asset
CL Current Liability
NL Noncurrent Liability
E Equity Account
Supplies
Notes receivable
Unea”
“The EU Privacy Directive presents problems for the United States in that
data may not be transferred to a non-EU entity unless guarantees are provided that equal security measures are in plac”
If sales are $820,000, variable costs are 62% of sales, and operating income is $260,000, what is the contribution margin ratio? 53.1% b. 38% c. 62% d. 32% If fixed costs are $750,000 and variable
“The accuracy of financial statements rely on fraudless operations and controls placed in each area. Please list some key controls in each of the following accounts.
Accounts receivables”
“1. Foxworthy, Inc. is a manufacturer with a calendar accounting year. A physical inventory is taken on January 1, and any items not in inventory are charged to cost of goods sold. The current year i”
i need the answer to the question on page 166 ATC 4-1
“Discuss the validity of the following statements in both the short run and long run:
If the Federal Reserve achieves its goal for GDP, it will achieve its goal for
employment, and vice versa.
If th”
An employer having an experience-based unemployment tax rate of 3.2% in a state having a standard unemployment tax rate of 5.4% may take a credit against a 6.2% federal unemployment tax rate of 8. A.5
“when indirect materials are requisitioned from the materials storeroom and placed in priduction, an entry is made crediting raw materials inventory and debiting:
a)work in process inventory
b)cost o”
“1. The Sarbanes-Oxley Act of 2002 was passed by Congress due to the public outcry after the financial scandals of the early 2000s. (Points: 1)
True
False
There are two intern”
“Course Assignments
Final Project: Business Plan
You want to start your own business. You found an investment group that is willing to give you the capital needed for the first year of your bu”
“compute Peter and Amy’s Income tax liability for the current year funding Form 1040, Schedules A and B, and Form 8283, if necessary.
Following is a list of information for Peter and Amy Jones for…”
Haywood Company sells a single product with a contribution margin of $5 per unit, fixed costs of $74,400, and sales for the current year of $100,000. What is the break-even point? a. 5,120 units b….
Bread Corporation is a C corporation with earnings of $100,000. It paid $20,000 in dividends to its sole shareholder, Gerald. Gerald also owns !00% of Butter, an S corporation. Butter had net taxable
Attached questions in pdf doc. Please let me know if you can complete by 1pm on Sunday. Session 9 Problem 1 The long-term liabilities section of Dayton Inc.’s December 31, 2008, balance sheet includ…
On January 1, 2011, Capitech Corporation acquired Logirun, Inc. as a long-term investment for $240,000 (a 30 percent common stock interest in Logirun). On that date, Logirun had net assets with a boo
“Presented below is information related to Kienholz Company for its first month of operations.
Credit Sales Cash Collections
7 Agler Co. $11,621 Jan. 17 Agler Co. $7,174
15 Barto Co.”
Excel Project A. Expand the cash flow budget you created in Problem 12.4 to include a row for expected cash outflows equal to 77% of the current month’s sales. B. Also add a row to calculate the amoun…
“Frowren Domestic manufactures and sells a single product. In preparing its master budget for the current quarter, the company’s controller has assembled the following information:
Units ..”
explain the reasons that the practice of consolidated reporting arose in the U.S. earlier than in France
This is a case study that I need help with. It involves US GAAP and IFRS. Case 10-3 Restructuring Costs Pharma Co. is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accor…
Identify and describe accountants’ exposure to lawsuits and loss judgments.
How would you keep track of the reversing entries you need to make, if you were the accountant?
“Indicate the nature of the possible fraud or embezzlement in each of these situations.
Gross margin decreased from 40% of the net sales in 2009 to 20% in 2010, even though there was no change in”
A company has 10%, 20-year bondsoutstanding with a par value of 500,000. The company calls the bons at 96 when the unamortized iscount is $24,500. Calculate the gain or loss on the retirement of the
“Ratios
In an Excel spreadsheet compute all of the ratios that are relevant to your company for the most recent year. Feel free to add any additional ratios that you think might be important to und”
On June 30, 2009, Blue, Inc. leased a machine from Big Leasing Corporation. The lease agreement qualifies as a capital lease and calls for Blue to make semi-annual lease payments of $281,454 over a th
penny miesha, and sabrina transfer property to owl corporation for 75 percent of its stock. Nancy, their attorney, receives 25 percent of the stock in owl for legal services rendered in incorporating …
15-5A – Pillar Steel Co., which began operations on January 4, 2011, had the following subsequent transactions and events in its long term investments. 2011 Jan. 5 Pillar purchased 30,000 shares (20…
“””Given the information computer the ratios (assume year end balance approx annual average)
Return on Assets
Return on Stockholders Equity
Debt to Asset Ratio
2007 (,000)
Current Liab”
“Prepare the general journal entries required to record the following transactions and information in the General
Fund of a county.
The county adopted the General Fund budget for the year. Estimat”
“Weisinger Corporation has provided the following data for the month of January:
Inventories: Beginning Ending
Raw materials $ 28,000 $ 29,000
Work in process $ 16,000 $ 14,000″
I have gotten much help from you in the past and was hoping you can help me on this assignment please. Thanks Again…Lisa Conduct three of the following experiments and record your reactions. Be spec…
I need the answer to problem 3-c appendex E of 2010 South-Western Federal Taxation: Comprehensive Volume.
“Use the following 8% interest factors.
Present Value of
Future Value of
Ordinary Annuity
Ordinary Annuity
7 periods
2064
92280
8 periods
7466
63663
9 pe”
“””During December, LP Products incurred the following costs:
Advertising Expense $10,000
General & Administrative Costs $9,000
Property Taxes on Factory $10,000
Insurance”
To avoid leased asset capitalization, companies can devise lease agreements that fail to satisfy any of the four leasing criteria. Which of the following is not one of the ways to accomplish this goal…
At the start of the current year, SBC Corp. purchased 30% of Sky Tech Inc. for $45 million. At the time of purchase, the carrying value of Sky Tech’s net assets was $75 million. The fair market value
Come-on-In Manufacturing produces two types of entry doors: deluxe and standard. The assignment basis for support costs has been direct labour dollars. For 2008, Come-On-In compiled the following data
“Moctezuma Furniture Corporation incurred the following costs.
Wood used in the production of furniture.
Fuel used in delivery trucks.
Straight-line depreciation on factory building.
Sc”
I am resubmitting Case 9-30 Master Budget with Supporting Schedules assignment. I have included the instructions and sample excel sheet with some of my answers for reference. Thank you.
Six Sigma is a process improvement method that targets a system’s constraint for process improvement. true/false
On January 15, 2008, Robin purchased the rights to a mineral interest for $6,000,000. At that time, it was estimated that the recoverable units would be 2,500,000. During the year, 300,000 units wer
In 2010, Logan sold 1,000 units at $500 each, and earned net income of $40,000. Variable expenses were $300 per unit, and fixed expenses were $160,000. The same selling price is expected for 2011. Log
Victoria Kite Company, a small Melbourne firm that sells kites on the Web wants a master budget for the next 3 months, beginning January 1, 2008. It desires an ending minimum cash balance of $5,000 ea
“Use the following information for questions 14 through 16.
Dexter, Inc. is a calendar-year corporation. Its financial statements for the years 2007 and 2006 contained errors as follows:
2007 2″
“If a stock’s expected return exceeds its required return, this suggests that
(Points: 3)
the stock is experiencing supernormal growth.
the stock should be sold.
the compa”
neverwas company just took its physical inventory on December 31, 2010. The count of inventory items at the company’s warehouse resulted in a total inventory of $300,000. In reviewing the details of t
You can use a spreadsheet to ____ by using variable values to investigate and sample different outcomes
During 2011, Crawford Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crawford for a lump sum of $64,000, because it is discontinuing manufacturing operati
“1. In an effort to reduce audit fees by 50%, the audit committee of Publix (a publicly traded company) has scheduled an audit kick-off meeting with their external auditors (a “”Big Four”” firm). At …”
“1) A primary characteristic that distinguishes not-for-profit entities from business entities is
the need to generate revenues equal to or in excess of expenditures or expenses.
the corr”
“intermediate accounting 13Th edition page 791
Explain what is meant by “”Restricted Stock Units (RSU)”” and provide extracts of the disclosure notes for 2 public companies that have these, noting a…”
13 – 24 Test Bank for Intermediate Accounting, Thirteenth Edition 110. What is the amount of expense relative to compensated absences that should be reported on Vargas”s income statement for 2009?
Four accounting questions are attached. Question 4 3 points Save HiTech Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which uses activity-bas…
“1. What is the impact on a transferor if a Sec. 351 exchange involves the assumption of the shareholder’s liabilities by the corporation?”
Penny, Miesha, and Sabrina transfer property to Owl Corporation for 75% of its stock. Nancy, their attorney, receives 25% of the stock in Owl for legal services rendered in incorporating the business.
I recently paid $80 for accounting document 6429845, I’ve been waiting on calculations for the document. Please advise.
“Sands Corporation has the following capital structure at the beginning of the year 2007:
6% Preferred stock, $50 par value, 20,000 shares authorized,
6,000 shares issued and outstanding $ 3″
There are 2 Masterys attached. a total of 8 problems. Of the 4 problems for each mastery, 3 must be correct. Totalling a score of at least 75%. Course only allows you to take each mastery up to 3 time…
“Which of the following transactions will increase a corporation’s operating return on assets?
Sell stock and use the money to pay off some long term debt
Sell 10 year bonds and us…”
Isaac Co. sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice is dated on April 15 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the
“1. Feeble Co. on January 1, 2011 initiated a noncontributory, defined-benefit pension plan that grants benefits to its 100 employees for services rendered in years prior to the adoption of the pension”
Sussex, Inc. had given a first mortgage when it purchased its plant and wharehouse. Sussex needed additional working capital. It decided to obtain financing by giving a second mortgage on the plant
“1. John Jones is married and files a joint return with his wife. They have a son, age 17 who is not in school. The son had gross income of $9,000 in 2009. They provided over 50% of his support. Ho”
how differences in the industries and different iasb and fasb measurement conventions affect presentations
“Below is the detailed liabilities section of Bruns Company, along with a summary of stockholders’ equity and current assets. Please answer the following questions.
Accounts payable $1,200,000
Unea”
a restaurant purchased an ice machine for $4,000 paying $1,000 in cash with the balance carried on account. The journal entry to record this transacation is debit equipment $ 4,000, credit cash $1,000…
This is the full question, you can use any stock you want. Review the Regression Help document, as well as the explanation in your course text (see textbook beginning page 563). Estimate the reven
“Question 1 (10 points)
Costs incurred subsequent to the acquisition of an asset are capitalized if they provide future benefits.
True
False
Question 2 (10 po”
“14. Jane’s husband died in 2001. They had one dependent child. Assuming Jane’s child continues to live with her and she pays over 50% of the expenses of maintaining her home. If she does not re…”
“1.
(Points: 1)
Managerial accounting:
has its primary emphasis on the future.
is required by regulatory bodies such as the SEC.
focuses on the organization as a whole, rather than”
Additional data: The common stock recently sold at $19.50 per share. The year-end balance in the allowance for doubtful accounts was $3,000 for 2009 and $2,400 for 2008. Instructions Compute the follo…
“Write a letter to your senator explaining why the federal government
should adopt the accrual basis of accounting.”
“Here’s the problem
Finney Corporation purchased the following long -term investments in stock securities on 1-10-2008
10,000 shares of the 100,000 outstanding common shares of”
“What motion would be used to try to eliminate an expert witness?
Motion of limine.
Motion of challenge.
A Frye motion
A Daubert motion.
All of the above”
How does a product’s life cycle stage influence production cost management?
Corporation is reviewing an investment proposal that has an initial cost of $52,500. An estimate of the investment’s end-of-year book value, the yearly after-tax net cash inflows, and the yearly net i
Look through the annual report for disclosures related to long-term debt. What is the debt limit, debt margin,direct debt per capita, and overlapping debt per capita? Urbana Lincoln Hotel Constructed …
“A business issued a 60-day, 7% note for $15,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording (a) the issuance of the note and (b) the payment
Bennis Company has the following comparative balance sheet data. BENNIS COMPANY Balance Sheets December 31 2012 2011 Cash $ 14,990 $ 30,240 Receivables (net) 69,920 60,340 Inventories 59,700 50,290 Pl…
“Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investments purchases, and no credits, with the following descriptions.
2/1/10 Sharapova C”
On numerous occasions, proposals have surfaced to put the federal government on the accrual basis of accounting. This is no small issue. If this basis were used, it would mean that billions in unrecor
can you provide some details on how taxable income is computed and provide examples?
“1.) Which of the following would be deducted from the balance per bank?
Answer
Outstanding checks
An issued check that the company forgot to record on its books
Bank service charg”
Adjusting Entries: Data relating to the balances of various accounts affected by adjusting or closing entries appear below. (The entries which caused the changes in the balances are not given.) You ar
In the United States, accounting for pensions has received a great deal of attention. In other countries, pension accounting is given much less attention. Examine the reasons that would explain why
“(Computation of Actual Return, Gains and Losses, Corridor Test, and Pension Expense)
Erikson Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following informa”
“Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:
Fixed Cost
per Mo”
Clark Paints: The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchasing t
“1. Describe and critique Target’s capital-budgeting system. Give specific consideration to the role of the real-estate managers and the makeup of the CEC.
Which of the five CPRs should Doug Sco”
“1. (TCO 1) Which financial statement is prepared first? (Points : 4)
Balance sheet
Income statement
Retained earnings statement
Statement of cash flows
“
Cheatam Enterprises has a 4.2% merit rate on unemployment (top state rate is 5.4%). During the first week of the payroll tax year, Cheatam pays $20,000 in wages (no one employee earns over $7,000 dur
“A company reports the following:
Net sales $750,000
Average accounts receivable (net) $ 50,000
Determine the (a) accounts receivable turnover and (b) number of days’ sales in receivables. Ro…”
Bianca and Dion exchange real estate in a like-kind exchange. Bianca’s basis in the real estate, subject to a $100,000 mortgage, is $250,000 and the fair market value is $300,000. She receives real
Explain the advantage of using a flexible budget. Also, why are flexible overhead budgets based on an activity measure, such as hours or process time or machine time?
on july 1, dexter corp. buys a computer system for $260,000 in cash. Assume that the computer is expected to have a four-year life and an estimated salvage value of $20,000 at the end of that time.
Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal cont
“Legal Beagals Inc. is a legal services firm that files incorporation papers for small businesses. They charge $1,000 per application. This year’s income statement shows the following:
Sales $1,440,00″
Compare the total of each account payable outstanding, including zero balances, with those in the preceding year, and examine vendor’s statements for any total with a difference in excess of $500…
“see the attached file.
Portia Carter is the president of a company that owns six multiplex movie theaters.Carter has delegated decision-making authority to the theater managers for all decisions …”
“Flex Budget
Budget Data
Units Budgeted $ Budgeted Units Actual
Production
Mid-Grade 2,585 2,800
High-End 517 400
Direct Materials ($)/Unit
Mid-Grade 140.00
High-End 250.00
Di”
When the accounts of Constantine Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period. The prepaid insurance account shows a debit of $6,…
“The Clipper Corporation had net operating income of $380,000 and average operating assets of $2,000,000. The corporation requires a return on investment of 18%.
Required:
Calculate the compan”
“1. Which one of the following is a characteristic of a business combination that should be accounted for as a purchase?
The combination must involve the exchange of equity securities only.
The”
Comment specifically on why companies feel the need to create yet another income statement in a different format. What information can the company gleam from this approach which is helpful as a tool i
“The balance in the Accrued Wages Payable account increased from $14,500 at the beginning of the month to $20,000 at the end of the month. Wages accrued during the month totaled $61,000.
Wages p”
“The managerial accounting profession and its role in today’s business environment. How has it changed over time?
Comment on the Certified Management Accountant (CMA) designation”
Nike issued 25-year, 7% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 6.5%. Nike received $211,568 in cash proceeds. Which of the following s
Currently, 3-year Treasury securities yield 5.4%, 7-year Treasury securities yield 5.8%, and 10-year Treasury securities yield 6.2%. If the expectations theory is correct, what does the market expect
“21
Howland Company has these obligations at December 31. For each obligation, indicate whether it should be classified as a current liability.
A note payable for $100,000 due in 2 years ____”
“31. Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of 11,750 and four exemptions.
Assuming an adjusted gross income of 40,000, what is their taxable income”
Wolfe, Inc., began operations on January 1 of the current year with a $12,000 cash balance. Forty percent of sales are collected in the month of sale; 60% are collected in the month following sale. Si
Relevant costs for pricing decisions are the full costs of the product. Do you agree?
“Equity transactions.Presented below is information related to Wyrick Company:1. The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000”
“An individual has a $30,000 § 1245 gain, a $85,000 § 1231 gain, a $55,000 § 1231 loss, a $30,000 § 1231 lookback loss, and a $80,000 long-term capital gain. The net long-term capital gain is:
…”
“P15-9 (Stockholders’ Equity Section of Balance Sheet) The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2010.
In 2010, 15,000 shares were auth…”
For Markowis Company, variable costs are 80% of sales, and fixed costs are $246,200. Management’s net income goal is $61,900. Compute the required sales needed to achieve management’s target net incom
I need all requirements done. FINANCIAL ACCOUNTING – Eighth Edition Solutions Manual ACCT 212 : Course Project 2 Learning Objectives : Preparing commonsize statements; analyzing profitability; makin…
HELLO , read the tucson entertainment case and answer just question 4, 5 and 6
What is the weakest point in this network on which forensic investigators should concentre their efforts for determining whether money laundering is occurring?
“Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co.
On April 1, 2009, Quirk issued $500,000, 9% bonds for $537,868 including accrued interest. Int”
A forensic accountant should acquire a behind-the-scenes understanding of network traffic on the Internet. An understanding begins with Internet protocols. Explain Transmission Control Protocol (TCP)
“1. Which of the following internal record-keeping methods can a parent choose to account for a subsidiary acquired in a business combination?
Initial value or book value
Initial value, lower-o”
Go ahead and answer if you like, but it’s too late to help me!
Parker is a 100% shareholder of Johnson Corp. (an S corporation). At the beginning of 2011, Parker’s basis in his Johnson Corp. stock was $14,000. During 2011, Parker loaned $20,000 to Johnson Corp. a
How do reversing entries help when you make an error? Does it leave a trail of what happened? For example, if anyone has used QuickBooks, you can delete a journal entry if you make a mistake. Would
“Which of the following is not an objective of financial reporting?
Financial reporting should provide information that is useful to present and potential investors and creditors and other user”
What are three classifications within comprehensive income according to the FASB codification? Thanks and I will be sure to leave positive feedback.
Finish the problem from the accounting payroll 2010 edition , chapter 7 Page 41 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 20– Oct. 9 Payroll Cash Cash 12 11 11,297.11 9 Administrative Salaries…
The Assembly Department produced 2,000 units of product during June. Each unit required 1.5 standard direct labor hours. There were 3200 actual hours used in the Assembly Department during June at an
“Problem 5
Described below are two independent transactions:
1). On October 1, 2010, HTL Manufactures Corp called its convertible bonds for conversion. The $1,000,000 par value, 8%, bonds were co”
Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this
Hurst, Incorporated sold its 8% bonds with a maturity value of $3,000,000 on August 1, 2009 for $2,946,000. At the time of the sale, the bonds had five years until they reached maturity. Interest on t
“Grass King manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows.
Sales Mix Contribution Margin”
“””Haslett Inc. manufactures basketballs for the National Basketball Association
(NBA). For the first 6 months of 2009, the company reported the following operating results
while operating at 90% of p”
“The question is attached in excel format.
Please use the present value tables for interest and annuity.”
“5) Short-term loans which are backed by the taxing power of the governmental unit and used to meet working capital requirements are called:
appropriation loan
tax anticipation notes”
“special assessments levied for debt service of bonds issued for a special assessment capital project will be accounted for by a debt service fund under which of the following situations
government is”
____ 148. For most taxpayers, which of the traditional apportionment factors yields the greatest opportunities for tax reduction? Sales (gross receipts). B. Property. C. Management. D. Payroll.
Anderson Department Stores is considering the replacement of the existing elevator system at its downtown store. A new system has been proposed that runs faster than the existing system, experiences
“Flex Budget
Budget Data
Units Budgeted $ Budgeted Units Actual
Production
Mid-Grade 2,585 2,800
High-End 517 400
Direct Materials ($)/Unit
Mid-Grade 140.00
High-End 250.00
Di”
How can CVP Analysis be used to predict future costs and profitability? Describe how CVP Analysis is used or could be used at your current employer. If you have not worked for a company that might
what is a VIE? How might they provide financial control over an entity?
How do common-sized statements help in rationalizing intra-firm product lines (segments)?
“Find the latest 10k of Domino’s Pizza and please answer the following: What inventory costing method does the company use?”
Leah transfers equipment(basis 400,000 and fair market value of 500,000)for additional stock in Crow corporation. after the transfer, Leah owns 80% of Crow’s stock. associated with equipment is 1245 d
“14. LO.1 pg 95 (Predetermined OH rate) Langston Automotive Accessories applies overhead
using a combined rate for fixed and variable overhead. The rate is 250 percent of direct
labor cost. During th”
“3. Inventory valuation under UNICAP does not include costs for:
property taxes.
income taxes.”
“On an income statement prepared with a direct costing approach, the excess of sales over the cost of goods sold, based on variable costs only, is referred to as the:
a)marginal gross profit on sales”
“Find true statement(s):
It is not possible for a firm engaged in financial futures markets to increase its overall risk by speculating.
The greater the contribution margin of a firm, the”
Michael I. (Tutor) I want to pay for it. Please double check this homework I have already completed. Need the following: 1.Check my answers if corrected. 2.Check if I answered all the requirements. 3….
“Common sized income statements ___________ (Points : 1)
Assist in the comparison of companies of different sizes
Show each income statement account as a percentage of total assets”
“1. Final Project: Financial Analysis
Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A & B, especially the Consolidated Statements of Income and the Balance …”
“Rambles Toyland makes a product that sells for $70 per unit and has $45 per unit in variable costs. Annual fixed costs are $24,000. How many units must be sold to earn a profit of $12,000?
960
1,4″
Loyola International, Inc. is considering adding a portable CD player to its product line. Management believes that in order to be competitive, the CD player cannot be priced above $79. The company re
“The Oxford Company has budgeted sales revenues as follows:
Jan Feb Mar
Credit sales$240,000$192,000$144,000
Cash sales $144,000$408,000$312,000
Total sales$384,000$600,000$456,000
Past e”
Rory Co.’s prepaid insurance was $50,000 at December 31, 2007, and $25,000 at December 31, 2006. Insurance expense was $20,000 for 2007 and $15,000 for 2006. What amount of cash disbursem*nts for …
What types of formal and informal communication systems are used by McDonald’s Corp? Please provide references.
“””Sanchez co. sold land ot Benita Sanchzes for $100,000 who owns 60% of the outstanding stock of Sanchez. The company;s adjusted basis in the land was $120,000.
Compute the company’s realized and”
“Nafari Company’s sales budget has the following unit sales projection for each quarter of the calendar year 2011.
January -March 1,080,000
April-June 1,360,000
July-September 980,000
October”
“Changes in depreciation methods, estimates.
On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs.
Building, 25-year”
complete problem 4.5on p. 141 (ch 4. Refer to exhibit 4.1 on p. 118 (ch.4) to create your statement of cash flows.
Assume that the HI Partnership in the preceding held the IPR stock for three months and on October 1 sold it for $15,000 to Isaac Stanley, the 80 percent partner and a real estate broker. How much pr
“3. Recording Journal Entries: Health and Nutrition Importance, Inc., began business July 1, 2012.
July 1 The owners invested $75,000 in exchange for common stock
The company borrowed $15,000 fr”
Atlas Communications Inc. reported cash provided by operating activities of $123,107,290 and revenues of $1,175,760,900 during 2006. Cash spent on plant asset additions during the year was $21,726,130
Please tell me how you got the answers Thank you The stockholders’ equity section of Jarvis Corporation at December 31 is as follows. JARVIS CORPORATION Balance Sheet (partial) Paid-in capital Prefe…
“1. Prepare the appropriate journal entry to record Alsup’s 2006 income taxes.
Prepare the appropriate journal entry to record Alsup’s 2007 income taxes.
Prepare the appropriate journal e…”
Soft Glow Candle Co. Budgeted production of 78,900 candles in 2010. Wax is required to produce a candle. Assume 8 once (one half of pound) of wax is require for each candle. The estimated January 1,20
During its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs, completed the following transactions: Oct. 1 Began business by making a deposit in a company b…
Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have little or no work history in a respo
On June 30, 2010, Mackes Company issued $5,000,000 face value of 13%, 20-year bonds at $5,376,150, a yield of 12%. Mackes uses the effective-interest method to amortize bond premium or discount. The
Please show me how you go the answers. Also Please Make Sure if question asked for descending order please do so this time last time it wasn’t in descending order thank you Franco Corporation was orga…
“2. Entries for Bonds Payable.Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co.(a) On April 1, 2009, Quirk issued $500,000, 9% bonds for $537,868 incl”
“1) Managers should base pricing decisions on both cost and market factors. In addition, they must also consider legal issues. Describe the influence that the law has on pricing decisions.
“”It is i”
On January 1, 2010, Glenville Co. acquired an 80% interest in Acron Corp. for $500,000. There is no active trading market for Acron’s stock. The fair value of Acron’s net assets was $600,000 and Glenv
A common stock paid $1.32 in dividends last year and is expected to grow indefinately at an annual 7% rate. What is the value of the stock if you require an 11% return
Jobart Company is currently operating at full capacity. It is considering buying a part from an outside supplier rather than making it in-house. If Jobart purchases the part, it can use the releas
Philo company estimates that the amount of total depreciation expense for the year ending december 31 will be $60,000 and for year end bonus to employees will be $120,000. What total amount of exp
On January 1, 2006, John Doe Enterprises (JDE) bought a 55% interest in Bubba Manufacturing, Inc. (BMI). JDE paid for the transaction with $3.5 million cash and 400,000 shares of JDE common stock (par
What are commonly used components when measuring economic damages in a wrongful discharge case? describe each compnent and explain why it should be used in the damage calculation.”
“13. Which one of the following statements about the cash receipts and disbursem*nts method is correct?
Partnerships that have a C corporation as a partner cannot use the cash receipts and
disburs”
“The Granger Co. had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employees on”
“a. What was Topps’ inventory turnover ratio and average days to sell inventory for 2006 and
2005?
Is the company’s management of inventory getting better or worse?
What cost flow met…”
“To avoid double taxation on corporate income, shareholders in closely held C-corporations often pay themselves large salaries.
Briefly discuss how the reasonable compensation issue applies to S-c”
“””1. Jones CO. has a defined contribution pension plan for its workers. Under this type of plan, which best describes the contingent liability associated with the plan?
Jones has a contingent liabi”
“COST ACCOUNTING 13TH ED
8-39)
TOTAL POUNDS OF DIRECT MATERIALS PURCHASED
TOTAL NUMBER OF POUNDS OF EXCESS DIRECT MATERIALS USED
VARIABLE MANUFACTURING OVERHEAD SPENDING VARIANCE
TOTAL”
Assuming that the lease is appropriately recorded as a sale for accounting purposes by Eby, what is the amount of profit on the sale and the interest revenue that Eby would record for the year ended D
“Last one for tonight-
I thought it was like the other one you did but I don’t understand what accounts to show the losses in.
retired $500,000 face value, 8% bonds on June 30, 2008 at 97. The”
What is the answer to this scenario to compare with what I have
see the attachment Prepare journal entries to record the following merchandising transactions of Gore Company, which applies the perpetual inventory system. (Hint: It will help to identify each receiv…
“Beta and required rate of return A stock has a required return of 11 percent; the risk-free rate is 7 percent; and the market risk premium is 4 percent.
What is the stock’s beta?
Is the market”
Lessee Company on January 1, 2010, enters into a 5-year non-cancelable lease, with two renewal options of one year each, for equipment having a estimated useful life of 8 years. Lessee’s incremental b
“2. Entries for Bonds Payable.Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co.(a) On April 1, 2009, Quirk issued $500,000, 9% bonds for $537,868 incl”
“1. When converting an income statement from a cash basis to an accrual basis, which of the following is incorrect?
an adjustment for depreciation reduces the net income
an adjustment for bad”
Welcome Corporation produces metal telephone poles. In the most recent month, the company budgeted production of 4,100 poles. Actual production was 4,400 poles. According to standards, each pole requi
How do you go about doing Comprehensive Problem 8-28 on Intercorporate transfers. This problem is in Baker, Lembke, King, and Jeffrey’s Advanced Financial Accounting Book, 8th edition.
The Fashion Shoe Company operates a chain of women’s shoe shops around the country. The shops carry many styles of shoes that are all sold at the same price. Sales personnel in the shops are paid a …
“16-2.
Kade Gulliver turned 20 years old today. His grandfather established a trust fund that will pay Mr. Gulliver $60,000 on hi next birthday. However, Mr. Gulliver needs money today to start his”
“Exercise 10-8.
On January 1, 2012 a foundation made a pledge to pay $ 30,000 per year at the end of each of the next five years to the Cancer Research Center, a non-profit voluntary health and welf”
“Articulate how companies make project selection decisions. Determine the implication on earnings and cash flow, and articulate in a memorandum why the MIRR project was chosen over the multitude of
“Holmes Corporation has filed a voluntary petition with the bankruptcy court in hope of reorganizing. A statement of financial affairs has been prepared for the company showing these debts:
L”
Salter Inc.’s unit selling price is $50, the unit variable costs are $35, fixed costs are $125,000, and current sales are 10,000 units.
Forever Yours, Inc. has a secured and perfected security interest in Sally’s big-screen TV. On the filing date of Sally’s Chapter 7 petition, the balance of the debt owed to Forever Yours is $2,000. T
“Randall Sports has collected the following information over the las six months.
Month Units produced Total costs
March 10,000 $25,600
April 12,000″
“Yield to maturity Heyman Company bonds have 4 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 9 percent.
What is the yield to maturity”
3-44 Sales mix, three products. The Ronowski company has three product lines of belts-a, b, and c- with contribution margins pf $3,$2,and $1, respectively. The presidnt foresees sales of 200,000 units
Dyna Corporation had cost of goods sold of $300,000 for the current year ended December 31 and an ending inventory balance of $50,000. The beginning balances in inventory and accounts payable were $20
if not entirely used in one sale, the unused portion of the $250,000 exclusion on the sale of a taxpayer’s principal residence may be used to reduce the recognized gain on the sale of the taxpayer’s n
Depreciation accounting 1. retains funds. 2. all of these. 3. funds replacements. 4. provides funds.
Phillips Supply uses a periodic inventory system but needs to determine the approximate amount of inventory at the end of each month without taking a physical inventory. Phillips has provided the foll
“Which of the following transactions will increase a corporation’s operating return on assets? (Points : 1)
Sell stock and use the money to pay off some long term debt
Sell 10 year…”
“Use the following to answer questions 16-20:
Justin’s Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventor”
“Question Details
John Martin (social security number XXX-XX-XXXX) and Stan Mitchell (social security number XXX-XX-XXXX) are 55% and 45% owners of Ram, Inc. (12-3456785), a small textile manufacturin”
“What are some of the requirements for audit committees under the Sarbanes-Oxley Act?
How does a forensic accountant analyze inventories and receivables?”
“Tom Donaldson and Tom Dunfee are proponents of ethical guidelines related to technology that are based on differentiating hypernorms from nonhypernorms. This theory is known as
Transparent Et”
“Problem 1:
Allen Labinski has prepared the following list of statements about process cost accounting. Identify each statement as true or false. If false, indicate how to correct the statement.
“
“Preparation of statement of cash flows (format provided).
The balance sheets for Rainey Company showed the following information. Additional information concerning transactions and events during 201″
see the attachment! 2. value: 15 points Bay Corp. sold 6,550 units of its product at $65 per unit in year 2009 and incurred operating expenses of $6 per unit in selling the units. It began the year wi…
At a break even point of 400 units sold varible expenses were 4000 and fixed expenses ere two thousand what will be the 401 unit sold contribute to profit?
“1”” Seller delivers goods to Buyer who agrees to pay the $5,000 price in 60 days. Seller transfers its right to receive the price to Bank at a 10% discount. Which of the following is false?
..”
“subject : accounting
question: multiple choice
have three free questions for today!
(TCO 5) Full costing
is the same as absorption costing.
considers fixed manufacturing overhead as”
8-39 Target costing: return on sales Stacy Yoo, president of Caremore, Inc., an appliance manufacturer in Seattle, Washington, has been trying to decide whether one of her product-line managers, Bill
Oregon Inc $10 par common stock is selling for $110 per share. Four million shares are currently issued and outstanding. The company wants to know how their three different options will stimulate inte
Target Cost of Proposed New Product Timberland is considering manufacturing special crates to be used for shipping new mainframe computers. The company is working with a computer manufacturer who is t…
“How is managerial accounting different from financial accounting?
Comment on the different needs and use of financial information for internal purposes.”
I need web sites that contain examples of stock dividends, stock splits, and reverse splits including location,or URL of the web sites with descriptions and an analysis of the reasons for these items
What is the distinction between general obligation debt and revenue bond debt? Why might a government issue revenue bond debt instead of general obligation debt?
“please describe how the following transaction affects the accounting equation: provided service for cash
Assets=liability+owners equity will these increase decrease or no change?”
retail company begins operations late in 2000 by purchasing $600,000 of merchandise. There are no sales in 2000. During 2001 additional merchandise of $3,000,000 is purchased. Operating expenses (exc
The Johnson Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during March of the current year. This table summarizes information provide
Armstrong Corporation manufacture bicycle parts. The company currently has a $19500 inventory of parts that have become obsolete due to change in design specifications. The part would be sold for $700
A customer charges a treadmill at Mike’s Sport Shop. The price is $2,000 and the financing charge is 9% per annum if the bill is not paid in 30 days. The customer fails to pay the bill within 30 days
(TCO 9) A project will require an initial investment of $750,000 and will return $200,000 each year for five years. If taxes are ignored and the required rate of return is 9%, what is the project’s
I need the whol solution manual for the book. Its the second value. I found the 1st value everywhere, however, I couldn’t find the second value of the soltuion manual. The book is called Accounting To
“Among the assets included in Taylor’s gross estate are the following.
Fair Market Value
Date of Death Six Months After
Date of Death
Stock in Grebe Corporation
Stock in Rail Corporation
…”
“As a general rule, revenue is normally recognized when it is
measurable and earned.
measurable and received.
realizable and earned.
collected (the cash is received).
A”
At the beginning of December, Global Corporation had $2,100 in supplies on hand. During the month, supplies purchased amounted to $3,800, but by the end of the month the supplies balance was only $1,3
“Differential Analysis Case Study
Madeira Travel Services provides travel agents access to sophisticated travel information and analysis systems over the Web. The company combines these tools with a”
“Larry Moon incorporated his detective agency and transferred the following assets and liabilities to Moon Probes Inc, for 100 percent of its stock:
Adj basis valu”
Clancy Inc. issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%. What amount will Clancy receive when i
“Baden Company is a diversified company which has developed the following information about its five segments:
SEGMENTS
A B C D E”
14-2. Camtech, which expects to start operations on January 1, 2008 will sel digital cameras in shopping malls, Camtech has budgeted sales as indicated in the following table. The company expects a 10…
Hi Michael, I was reading through the paper and it sounds really great,but I ran it through a plagarism checker and it came back with a 76% similarity index.I know that’s kind of high.I really need he…
Chipper, a calendar-year corporation, purchased new machinery for $475,000 in February, 2010. In October, it purchased $725,000 of used machinery. What is Chipper™s maximum cost recovery deductio…
Please find the attached file..for the homework I need done…Thanks for your help Sharon Ragusa EXERCISE 3-4. Physical Flow of Units [LO 1] In each case below, fill in the missing amount. Case #1 Wor…
Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2010 a
(22) While examining cash receipts information, the accounting department determined the following information: opening cash balance $204.76, cash on hand $1,526.64, and cash sales per register tape $
“Question #7
Below is a series of cost of goods sold sections for Mikey Inc., Nancie Co., and Oscar Inc.
Mikey Nancie Oscar
Beginning inventory $ 250 $ 120 $ (g)
Pu”
When a parent uses the initial value method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is true before making adjustments on the cons
“””4. Calculate earnings per share for the following:
Net income $500,000
Interest expense $ 50,000
Preferred Dividends paid $ 75,000
Common Dividends paid $100,000
Preferred shares outstanding 5″
“Trading equity securities.Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2010: Cost Fair Value
5,000 shares of Thomas Corp., Common $15″
“7. Stiner Company has a materials price standard of $2.00 per pound. Five thousand pounds of materials were purchased at $2.20 per pound. The actual quantity of materials used was 5,000 pounds, althou”
Which of the following is not an example of a decision or informed judgment that a potential investor would make from accounting information? A) Future profitability based on past profitability. B)…
Please see the attached word file for question. Selected balance sheet information for the wolf company at November 30,and December 31,2011, is presented below. The company uses the perpetual inventor…
I HAVE 3 QUESTIONS (1) STEINER RECLINERS PURCHASED A DELIEVERY TRUCK AT THE BEGINNING OF 2008. THE TRUCK COST $17,500 IS EXPECTED TO LAST FIVE YEARS. ASSUME THAT THE TRUCK HAS A SALVAGE VALUE OF $2,50…
Larry has 100,000 shares outstanding that are worth $10 per share. It uses 32% of its stock plus $80,000 to acquire Price Corporation in a Type A reorganization. Price’s assets are valued at $400,000
Big Al’s Pizza Managerial Accounting 10 part project solution
“I’m having a lot of trouble getting started on this problem. I have been on it for a long time now and I need some help.
“6) By preparing a four-column bank reconciliation (“”proof of cash””) at year-end, an auditor will generally not be able to detect:
An unrecorded deposit made at the bank at the end of the month.”
“See case attached.
As corporate controller for Apollo Shoes you are asked to find and explain any irregularities in the Apollo Shoe Case.
Define the process you will use and address the followin”
“Problem 1 – Nancy Company has budgeted sales of $300,000 with the following budgeted costs:
Direct materials $60,000
Dire”
“Which of the following is the true statement with regard to materiality under the antifraud provisions of federal securities law?
Materiality is a function of whether a reasonable person wo”
The Tango Co. is an accrual-method, calendar-year taxpayer in the business of giving dance lessons. On November 1, 2010, Tango received an advance payment of $4,800 for a two-year contract to provide
describe the factors that inflence consumer behavior online
Stone Co. owns 3,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2007, Maye earns $180,000 and pays cash dividends of $50,000. Stone should report investment revenue for 2007
“3-38 Mixed Cost, Choosing Cost Drivers, and High-Low and Visual-Fit Methods
Cedar Rapids Implements Company produces farm implements. Cedar Rapids is in the process of
measuring its manuf”
“””The balance sheet information for the end of 2010 for the Dawson Company is as follows:
Current Assets: ?
Long Term Liabilities:?
Total Contributed Capital:?
Long Term Investments: $19,200
Retai”
“Moore Company was organized on March 1 of the current year. Projected sales for each of the first three months of operations are as follows:
March $240,000
April 255,000
May 290,000
Th”
Describe the role the objective setting process plays in how and if auditing objectives are met. What are some steps you might take to ensure you consistently meet audit objectives?
Del restores old automobiles in his spare time. The last four years he has painstakingly restored a 1953 Chevrolet Corvette. He purchased the car for $3,500 and has subsequently spent another $10,000
“Calculate the Present Value of a terminal investment that has the following features. show all your work
Par Value: 1,000
Coupon rate: 6%
Yield: 4.5%
Maturity: 10 years
I calculated out this”
Shirt Co. is a subsidiary of Clothes Corp. The controller of Shirt Co. believes that the yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Shirt Co., nervous th
“You asked:
“”Balance Sheet and Income statement
The fiscal year for honshu ends on may 31, Resulst for the year ended may 31, 21×1
Cash and cash aquipment 35.000
Cost of goods sold 195.000
Inve”
“. Purchased Lab Equipment (7 year tax life) from “”Photonics”” –
Photonics offered me a zero interest loan for $20,000 (total).
The note is due in 5 years. We …”
On December 31,2009, when its Allowance for doubtful accounts had a balance of $1,000 , Brite Star Co. estimates that 9% of its acounts receivable balance of $90,000 will become uncollectible and reco…
How does information from financial reports influence business decisions?
Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2009. In October, 2009, Rick Co.’s Board of Directors declared and distributed a 1% common stock dividend when the m
16-16. ADK Delivery is a small company that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves packages to and from a central depot with
Ken Robson, president of the Robson Corporation, is considering the issuance of bonds to finance an expansion of his business. He has asked you to (a) discuss the advantages of bonds over common stock
Exercise 4-4 [Multiple step and Single-Step Income Statements:Two accountants for the firm of Allen and Wright are arguing about the merits of presenting an income statement in a multiple-step versus …
How is inventory turnover impacted by just-in-time?
“The quality of earnings ratio is:
Net cash flow increase divided by the net income.
Operating income divided by the net income.
Net cash provided by operating activities divided by t”
Ward and June are in the 28% tax bracket. Included in their assets is a dell computer corporation bond with a face value of $10,000. The bond pays $1,000 a year in interest. Ward and June gift the bo
“””Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The
following information pertains to Wheal Company on the date of acquisition:
Book Value Fair Value
“
Attached question for second time. Should not be charged twice. Problem #1 ( 30 points ) Martin, Inc.’s, income statement is shown below. Based on this income statement and the other information provi…
“Amazon.com’s financial statements in Appendix A at the end of this book reveal some interesting relationships. Answer these questions about Amazon.com:
What is most unusual about the balance she…”
“14. Conrad Corporation has a June 30 year end. What is the MACRS depreciation percentage
deduction for the first year for a five-year asset acquired October 15 under the mid-quarter
“
The Mountain Fresh Company had earnings per share (EPS) of $6.32 in 2006 and $11.48 in 2011. The company pays out 30 percent of its earnings as dividends per share (DPS), and the company’s stock pr…
Often in an audit, total combined tolerable misstatement is greater than overall materiality. Explain why this makes sense?
Financial leases are considered to be the same as a purchase and therefore the asset is placed on the lessee’s financials. Do you feel that it is proper treatment to consider the asset as the property
“1. The net assets of a corporation equal to:
Contributed capital.
Retained earnings.
Shareholders’ equity.
None of the above.”
“P. 7-8 Winterton Group
Recalculate each office’s profits before any profit sharing assuming the buffalo managers proposal is adopted
do you believe the buffalo managers proposal resulte in the faire”
“Fraud is a major concern in the business world.In a few paragraphs, explain the difference between an intentional misstatement of financial statements and misappropriation of assets.” (I asked this q
“2. Which of the following items would be reported at its gross amount on the face of the income statement?
Extraordinary loss
Prior period adjustment
Cumulative effect of a change in an ac”
Levi purchases land for $110,000. He incurs legal fees of $1,000 associated with the purchase. He subsequently incurs additional legal fees of $4,000 in having the land rezoned from agricultural to
“A CPA who performs primary actuarial services for a nonpublic client normally is precluded from expressing an opinion on the financial statements of that client if the
CPA prepared an actuar”
“The long-term liability for special assessment bond issues for which the city is not obligated in any manner should be recorded in a(an):
A)Agency fund only
B)Special assessment fund
C)Agency fund”
A hotel purchases a piece of equipment for $5,000 and is offered terms of 2/10, n/30. What is the effective interest rate of the cash discount?
All I need is the question answer based on the following topic: Dell and Perot System. It is a simple write up of 1 page for the following question in the attachment. It should be a limit of approxima
“. Which of the following statements about standard cost accounting systems is true? (Points : 5)
Perfection (or ideal) standards should be used in most situations since an ideal standard fac”
“a)Prepare journal entries for the following four events(use straight-line ammortization).
01/01/07 The Def Co. issued $100,000, six year bonds,carrying a coupon rate of ten percent (10%),
intere”
A company’s payroll for the week ended May 15 included earned salaries of $20,000. All of that week’s pay is subject to FICA social security taxes of 6.2% and Medicare taxes of 1.45%. In addition, t
“Need help with finding the equivalent units
Production Data – Bicycles
Work in Process Units, March 1 Units 200 80% completed
Units started in production units 1000
work in process un”
Garcia Corporation purchased a truck by issuing an $80,000, 4years, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. Prepare the journal en
Your car dealer is willing to lease you a new car for $289 a month for 60 months. Payments are due on the first day of each month starting with the day you sign the lease contract. If your cost of
Target Corporation in 2007 reported net income of $2.9 billion, net sales of $61.5 billion, and average total assets of $41.0 billion. What is Target’s asset turnover ratio? What is Target’s rate …
“””Albany and Buffalo, and evaluates management on the basis of return on investment. Albany currently makes a part that it sells to both Buffalo and outsiders. Selected data follow.
Selling price t”
A company issues $20,000,000, 7.8%, 20 year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. What is interest expense f
Jay Levitt Company produces one product, a putter called GO-Putter. Levitt uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal
Hugh Snore Bedding, Inc., has assets of $400000 and turns over its assets 1.5 times per year. Return on assets is 12 percent. What is its profit margin?
“he following items are taken from the financial statements of Tracy Company for 2010:
Accounts Payable $ 15,000
Accounts Receivable”
BYP8-6 You are the assistant controller in charge of general ledger accounting at Riverside Bottling Company.Your company has a large loan from an insurance company.The loan agreement requires that th
“200-300 words and 1 page showing calculations
Details: Your CEO has limited knowledge of management accounting but of course, is vitally interested in forecasting profitability under different sce…”
Attached is all the data: Prepare an income statement and a statement of retained earnings for the year ending December 31, 2010, and an unclassified balance sheet at December 31 for Flynn Design Agen…
“1. Paxel owns 80% of Saxel’s outstanding common stock. For 2009, Saxel reported $60,000 of net income and declared dividends of $10,000. What amount appears in Paxel’s 2009 income statement if Paxel a”
“31. Mark, Pete and Mickey are equal partners in the 2MP Partnership. At the beginning of the year, Mark’s basis in his partnership interest was $15,000, Pete’s basis was $10,000, and Mickey’s ba…”
Financial Accounting Statement of Cash Flows Ch 14 BYP14-5
“3. Amber Inc. is one of the largest pharmacy retailers in mid-America. In its 2009 annual report to shareholders, it made the following disclosure:
In 2000, Amber assigned a number of leases to Be”
Merchandise Inventory. Describe the inventory valuation methods FIFO and LIFO. Which items are included in ending inventory under each method?
“Overcosting of a product is MOST likely to result from:
overpricing the product
misallocating direct labor costs
undercosting another product
understating total product costs”
The Three Stooges partnership is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows.
“25) You are considering an investment in IBM Company stock and wish to assess the firm’s short-term debt-paying ability. All of the following ratios are used to assess liquidity except:
Acco”
Need answer to this problem: ACCT 2302 NAME Problem 20-4A (a) (1) Expected collections from customers January February November ($200,000) December ($280,000) January ($360,000) February ($400,000) To…
“Activities and Cost Drivers
For each of the following activites, select the most appropriate cost driver. Each cost driver may only be used once.
Activities:
Pay Vendors
Evaluate Vendords”
Is Internal control more important to a public company or than to a private company?”
Adams Corporation estimates that it lost $75,000 in inventory from a recent flood. The following information is available from the records of the company’s periodic inventory system: beginning invento…
“MSA 634 @ Central Michigan University with Professor Barry Levine…
What are the best tools to study for the 3 exams
Exam I-Chapter 1,2,3,5
Exam II-Chapters 6,7,8,9
Exam III-Chapters 10,11,12,1″
“1.
(Points: 1)
With respect to a corporation, select the statement that is correct.
Its organization requires an approved charter which is governed by state law.
Ownership rights to t”
“21. Bill, an accountant, gives his nephew Tad a check for $500 as a graduation present. The check was given to Bill as payment for work to be done for a client. Bill, who indorses the check “”without”
Giesen Company reports the following operating results for the month of August: Sales $300,000 (units 5,000); variable costs $210,000; and fixed costs $70,000. Management is considering three independ
“1. In the current year, ABC Corporation had the following items of income, expense, gains, and losses:
Sales $500,000
Cost of Sales $270,000
Operationg Expenses $100,000
Interest on savings acco”
“3 Perona Corporation produces and sells a single product. Data concerning that product appear below:
selling price per unit 00
variable expense per unit 4″
. Determine taxable income in each of the following instances. Assume that the corporation is a C corporation and that book income is before any income tax expense. a. Book income of $50,000 including…
“During the year,Salaries Payable decreased by $6,000.If salary Expense amounted to $170,000 for the year ,the cash paid to employees (including deductions from gross pay )is?
A)$176,000
B)$170,000″
multiple question 1. The process of building slack into budgets is called padding. (Points: 1) True False 2. A special cause variation is the result of randomness inherent in the process. (Points: 1) …
“The major reason for using practical capacity as the denominator for activity driver calculations is to:
avoid distortions induced by the assignment of unused capacity costs to the products pr”
“Assume that High Value Corp. sells goods on January 1,2008, with a price of $2000. The buyer gives High Value a promissory note due January 1, 2010. The maturity value of the note includes 8% interes
Q is a U.S. Government Employee assigned to support the US Army in Korea. In 2009, Mr. Q earned $80,000 and received a $35,000 tax-free housing allowance. Mr. Q is single and has no children.
“the filing of an involuntary bankruptcy petition under the federal bankruptcy code
terminates liens on exempts property
terminates all security interests in property in the bankruptcy estate”
Controls for IT and Reporting & Evaluation · Imagine you are a controller for a company. · Identify the internal control reporting options. · Create criteria against which the options can be evalua…
Just Rolling Along Inc. was organized on May 1, 2010, by two college students who recognized an opportunity to make money while spending their days at a beach along Lake Michigan. The two entrepreneur
Please explain in a few paragraphs how one company places a value on a second company in which they wish to acquire and how much of that value should be placed on intangible items?
“Book value per share may not approximate market value per share because
Investments may have a market value substantially above the original cost.
Land may have substantially increased”
The Walters Company made the following expenditures for research and development early in 2010: $40,000 for materials, $50,000 for contract services, $40,000 for employee salaries, and $400,000 fo
“Cost Accounting:
Q)””the fixed OH volume variance is favourable, so this must mean that everything is OK there””. Explain to management the meaning of the variance and why their observation i…”
“1. Suppose Dow Chemical receives quotes of $0.008242-45 for the yen and $0.03023-27 for the Taiwan dollar (NT$) from Bank of America (BOA). That is, S($/¥) = $0.008242-0.008245 and S($/NT$) = $0.0302…”
Please use template, thank you. Module 6 Exercises Problem 1 The following is a list of terms related to performance evaluation. Match each of the terms to their descriptions. Terms Association Descri…
When should a company review the estimated useful lives and residual values of its intangible assets under U.S. GAAP?
Discuss alternative approaches to long-run pricing decisions.
“Santa Fe Company is a pesticide manufacturer. Its sales declined greatly this year due
to the passage of legislation outlawing the sale of several of Santa Fe’s chemical pesticides. In
the coming ye”
“http://www.coursehero.com/qa_ask_question.php?prepop_question_id=6531512
Income Tax Fundamentals 2010 Appendix D: Problem 1 in Whittenburg Altus-Buller book.”
“CASE I
ACG 4151
ACCOUNTING STANDARDS CODIFICATION
For each of the items below, provide the appropriate Accounting Standards Codification (ASC) citation:
Accounting treatment for Held to Mat”
Ward and June are in the 28% tax bracket. Included in their assets is a dell computer corporation bond with a face value of $10,000. The bond pays $1,000 a year in interest. Ward and June gift the bon…
my homework requires us to re-state the balance sheet. On the balance sheet – the Building(net) is 570K… question on exercise – assume that accumulated depreciation balance for the building is 160K
“http://www.mediafire.com/imageview.php?quickkey=mzd0nttwjjt&thumb=4
http://www.mediafire.com/imageview.php?quickkey=mzag5ztnqyu&thumb=4
I want to analyze about this company (at least 3 pages)”””
“The Grey Sky Company presented the following equity section of their balance sheet as of December 31, 2010, the end of its accounting year.
Common stock, $1 par (10,000,000 shares authorized, 4,500″
“30) Which of the following is an approach to dealing with a bottleneck?
Move things to a faster bottleneck
Keep a buffer inventory in front of it to insure that it always has somethin”
Short audit case, the Valley Publishing Company, 11th edition
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest re
Applegate Company has a normal budgeted capacity of 200 machine hours. They produced 600 units. Each unit requires a standard .2 machine hour to complete. The standard fixed O/H rate is $12/hour,deter
Smith and Jones each owns tracts of land. Because of the location of their current operations, each would prefer to have the other’s land. Smith and Jones agree to exchange tracts. Jones pays Smith
Submitting the following question Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own division’s return on investment (ROI). Assume th…
In the financial services industry, why has there been a trend toward securitization of receivables (mortgage notes, auto loans, credit cards)?
“Unit 4: Economies and Diseconomies of Scale & Perfect Competition – Review Help
——————————————————————————–
—–“
How do I say I’m not happy with the answer so it can be closed and that I can get my money back?
Supervisor salaries, maintenance, and indirect factory wages would normally appear in the selling and administrative expenses budget. True or False
Harvard Research issues bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. The bonds have a $45,000 par value, an annual contract rate of 6%, and mature in 6 years
“A company has net sales of $900,000 and average accounts receivable of $300,000. What is its accounts receivable turnover for the period?
Answer
20
00
0
0″
TMTOMH Company reported in its annual report software refinement expenses of $12M, $15M and $18M for fiscal years 2007, 2008 and 2009, respectively. At the end of fiscal 2009 it had total assets of $1
“Can you answer this questions
Problem:
Question 2
Michael Robertson (1635 Maple Street, Syracuse, NY 13201) exchanges property (basis of $200,000 and fair market value of $850,000) for 75% of”
Distinguish between a cost center, profit center and an investment center. Provide an example of each type.
Need help on accounting excel worksheet. ASSIGNMENT INSTRUCTIONS: • • Complete parts a, b, and c of P3-1A on pp. 128-129 of Financial Accounting. Use the templates in Appendix D. Complete all th…
Paragas, Inc., is considering the purchase of a machine that would cost $370,000 and would last for 8 years. At the end of 8 years, the machine would have a salvage value of $52,000. The machine would
“Prepare the journal entries (budgetary and actual) to record the following transactions of the Quinones County General Fund.
Quinones county borrowed $1,000,000 by issuing 6-month tax anticipat”
“””The following information is available for Unique Globe, Inc., as of may3, 2010:
Cash on the books as of May 31 amounted to $43,784.16. cash on the bank statement for the same date was $53,451.46″
A company cannot be increasing its market share if its net sales are declining
A Statement of Cash Flows is used to inform users of the financial statements how the company generated cash and used the cash that was generated. However, why is this statement any more useful in det…
“14. Conrad Corporation has a June 30 year end. What is the MACRS depreciation percentage
deduction for the first year for a five-year asset acquired October 15 under the mid-quarter
“
“The balance in the Accrued Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000.
Wages expense”
I need accounting homework help E9-4 pg. 412 Ingles Company has accounts receivable of $93,100 at March 31. An analysis of the accounts shows the following. Month Of Sale March February January Prior …
“Q – What is a target cost per unit?
A – Target cost per unit is the estimated long-run cost per unit of a product or service that enables the company to achieve its target operating income per unit…”
Thank you Rachel. Are u still available for another one due on Wednesday?If it is okay, can I send it now?
Jane wants to set aside funds to take an around the world cruise in four years. Assuming that Jane has $8,000 to invest today in an account expected to earn 6% per annum, how much will she have t
Franco Company uses IFRS and owns property, plant and equipment with a historical cost of 5,000,000 euros. At December 31, 2011, the company reported a valuation reserve of 8,365,000 euros. At Decembe
“DPS Calculation Warr Corporation just paid a dividend of $1.50 a share (that is, Do = $1.50). The dividend is expected to grow 7 percent a year for the next 3 years and then at 5 percent a year there
“What four disciplines make up the knowledge base of forensic accounting?
How valuable is computer knowledge to a forensic accountant?
Where might financial statement fraud occur in a company (e”
“CASE I
ACG 4151
ACCOUNTING STANDARDS CODIFICATION
For each of the items below, provide the appropriate Accounting Standards Codification (ASC) citation:
Accounting treatment for Held to Mat”
explain how the international differences in tax rules might be used to advantage by a multinational company.
“What form of analytical review might uncover the existence of obsolete merchandise ?
Inventory turnover rates.
Decrease in the ratio of gross profit to sales.
Ratio of inventory”
attached Franco Corporation was organized on January 1, 2008. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated val…
(Issuance and Retirement of Bonds) Venzuela Co. is building a new hockey arena at a cost of $2,500,000. It received a downpayment of $500,000 from local businesses to support the project, and now need
“13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume
that you have separ…”
Wal-Mart, Inc. has net income of $9,054,000 on net sales of $256,329,812. The company has total assets of $104,912.112 and shareholders’ equity of $43,623,445. Use the extended DuPont identity to fi…
“When comparing Treasury Bonds to corporate bonds, the yield rate should usually be _____________ for corporate bonds.
the same
less
greater
indeterminable – we would have…”
What is meant by “moving up the economic value chain” and how are CPAs going to accomplish this?
Determine the Due date, the amount of interest due at maturity, and the maturity value on the following notes: a. Date of Note March 6 Face Amount $15000 Interest rate 9% term of note 60 days
The common stock of XYZ Company sells for $28.16 a share. The stock is expected to pay $1.35 per share next year when the annual dividend is distributed. The firm has established a pattern of incre
“Based on the information provided below, complete the following worksheet to be used to prepare the statement of cash flows.
Net income for the year was $30,000.
Dividends of $10,000 were d”
Ralph gives his daughter Angela stock (basis of $ … of $8,000; fair market value of $6,000). No gift … tax is paid. If Angela subsequently sells the stock for $10,000, whatis her recognized gain o
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Examine Grint’s support for why it is useful to study the Constitutive/Social Constructivist approaches to leadership and provide your critical assessment of why the case he presents is compelling o…
“25) Which part of the financial section of the CAFR is considered “”Required Supplementary Information?””
Auditor’s Report
Management’s Discussion and Analysis
Government-wi…”
Several years ago Polar Inc. purchased an 80% interest in Icecap Co. The book values of Icecap’s asset and liability accounts at that time were considered to be equal to their fair values. Polar paid
“Information concerning the debt of Cole Company is as follows:
Short-term borrowings:
Balance at December 31, 2010 $525,000
Proceeds from borrowings in 2011 325,000
Payments made in 201″
“Which of the following statements about depreciation is true?
Depreciation is a noncash expense, but it is important because it affects a corporation’s tax liability.
..”
“This is for two questions
Discuss the importance of the statement of cash flow. Discuss the decisions that are made based upon this information.
Recommend an innovative way that the statem”
Agnes, a calendar year taxpayer, lists her principal residence with a realtor on April 3, 2010, enters into a contract to sell on May 28, 2010, and sells (i.e., the closing date) the residence on June
In January, 2012, Yoder Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons. The property has an estimated value of $300,000 a
An auditor determines that management integrity if high, the risk of account misstatements is low, and the client’s internal controls are effective. Which of the following conclusions can be reached
“1. (Points: 2.5)
Expense A is a fixed cost; expense B is a variable cost. During the current year the activity level has increased, but is still within the relevant range. In terms of cost per”
I need help in answering the attached questions.Its from IFRS into Intermediate Accounting
Trin Company needs to reduce the selling price of its product in order to be competitive. Currently, Trin has fixed costs of $346,400 and variable costs per unit of $2.50. If Trin can sell 80,000 unit
“7.
(Points: 1) Choose the correct definition for par value from the following:
The amount that a corporation must pay when it exercises its right to convert shares of stock.
The eq”
Once a business has elected its tax status using check-the-box regulations, what options are available if it needs to change its tax status?
“2-61 CVP in a Modern Manufacturing Environment
A division of Hewlett-Packard Company changed its production operations from one where a large labor force assembled electronic components to an automat”
“HOW WILL THE PROFITS BE SPLIT?
James J. Dewars has been the sole owner of a small CPA firm for the past 20 years. Now 52 years old, Dewars is concerned about the continuation of his practice af”
Why is historical basis the improper methodology for measuring the cost of capital in your capital budgeting analysis?
“””Procedures in Collecting Forensic Evidence
As corporate controller for Apollo Shoes you are tasked to find and explain any irregularities in the Apollo Shoes Case.
Resource: Apollo Shoes C…”
Redstone Company spent $190,000 developing a new process, $45,000 in legal fees to obtain a patent, and $91,000 to market the process that was patented. How should these costs be accounted for in the
I NEED SOME HELP WRITING A PORTION OF THIS TEAM ASSIGNMENT. I HAVE PUT THE WEBLINK THAT WE ARE TO USE AT THE BOTTOM OF THESE INSTRUCTIONS. I ALSO MARKED THE PORTION I NEED TO CONTRIBUTE TO THIS ASSIGN
“Cost behavior and classification) Classify each of the following costs ncurred in manufacturing bicycles as variable (V), fixed (F), or mixed (M) cost (using
number of units produced as the activity”
Seether, Inc., a prominent consumer products firm, is debating whether to convert its all-equity capital structure to one that is 35% debt. Currently, there are 8,000 shares outstanding, and the pric
“I need to Write up a 3 Column Cash Book of the Transactions below in excel format:
June 1 Bal brought forward :
Cash in Hand : $5000
Cash at Bank : $ 90,000
June 2 Received Cash loan of $2″
On October 10, 2008, an investor purchased 1,000 shares of Ivy Corporation for $10,000. On January 2, 2009, the stock became worthless. What is the recognized gain or loss and how is it classified?
elaborate on the concept of compounding.Discuss how to calculate the net present value and the significance of this indicator for decision making
“””1. Which is not a component of the Pension Expense computation.
Service Cost
Benefits paid to retirees
Return on investments
Amortization of prior service cost
The computation o”
“5-7
The Village of Harris issued $5,000,000 in 6 percent general obligation, tax-supported bonds on July 1, 2008, at 101. A fiscal agent is not used. Resources for principal and interest payments are”
“Which of the following statements is correct?
a)A ratio that indicates a firm’s long- term debt- paying ability from the balance sheet view is the times interest earned.
b)Some of the …”
“8) Cash outflows can be categorized into all of the following groups except
working capital commitments.
outflows associated with the initial investment.
opportunity costs”
What is the effect on the AAA if an S corporation distributes a piece of property valued at $10,000 with a $5,000 basis to 50% shareholder and $10,000 cash to the other 50% shareholder in a non-liq
Possibilities, Inc. is considering the following investment. For financial reporting purposed the entire initial investment will be depreciation over 5 years by the straight-line method. For tax purpo…
“1. (TCO2) Record the effects of the following transactions on the accounting equation.
A business received $10,000 in cash and issued common stock.
Paid $2,000 monthly rent for office s”
On January 2, 2008, Stacy Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated salvage value of $15,000. The
Frauds still occur in the corporate world as recently as in 2011. Are you aware of any major frauds that occurred in 2011? Why did those companies fail to prevent them?
“On May 8, 2008 Tec Manufacturing purchases $300,000 of five-year equipment and elected to
expense $100,000 under Sec. 179. In 2009 Tec sells the equipment for $250,000. MACRS
depreciation deductions”
Greenwood Corporation has paid 60 consecutive quarterly cash dividends (15 years). The last 6 months have been a real cash drain on the company, however, as profit margins have been greatly narrowed b
Wilkins company uses LIFO method for inventory costing, In an effort to lower net income, company president Lenny Wilkins tells the plant accountant to take the unusual step of recommending to the pur
Contrast the indirect and direct methods of cash flows. What is the particular value of each?
“debt investments are initially recorded at the ?
A)Face value of the bonds purhased.
b)Face value of the bonds purhased plus interest.
c)price paid for the bonds plus interest.
d)price paid for th”
A U.S. manufacturer has sold computer services to a foreign firm and received 200,000 foreign currency units (FCs). The exchange rates were 1 FC = $.75 on the date of the sale and 1 FC = $.80 when th
You are responsible for auditing lease expense for your client. What are some audit procedures you might perform relating to lease expense?
“At acquisition, debt securities are:
Answer
1)recorded at their cost, plus total interest that will be paid over the life of the security.
2)recorded at the amount of interest that will be pai”
17-11 How could a hospital firm use the mix variance to analze its revenues?
Accounting Questions Mary Janane’s capital statement reveals that her drawings during the year were $50,000. She made an additional capital investment of $25,000 and her share of the net loss for the …
“The accounting system of Dave’s Wildlife resort includes the journals listed below. indicate the specific journal in which each of the transactions listed below would be recorded.
Journals
Cash rece”
“QUESTION 1 Neasha Corporation reported the following results for its first three years of operation:
2009 income (before income taxes) $ 100,000
2010 loss (before income taxes) (900,0″
Case 9-3 The Superior Valve Division by Blocher, E., Stout, D., co*kins, G., & Chen, K. (2008). Cases and readings to accompany cost management: 2007 custom edition (4th ed.). Boston: McGraw-Hill.
“Stories Company purchased equipment and these costs were incurred:
Cash price $22,500
Sales taxes 1,800
Insurance during transit 320
Installation a”
Jackie is an employee for Hardware Store, Inc. When attempting to open a can of bright orange paint, she accidentally spills paint on Maggie, a customer in the store. Maggie claims that her $800 busin
Some investment projects require that a company increase its working capital. Under the net present value method, the investment and eventual recovery of working capital should be treated as: (Points
“1. Pepe, Incorporated acquired 60% of Devin company on January 1, 2009. On that date Devin sold equipment to Pepe for $45,000. The equipment had a cost of $120,000 and accumulated depreciation of $6”
“Wilma is CEO of and owns 100 percent of WT Enterprises, a cash-basis, calendar-year
The company has always been profitable but over the last five years Wilma’s
salary has increased fr…”
“Timberland’s Overhead Allocation Problem
Background
Eastvaco recently purchased a pulp manufacturing company, Timberland, Inc., located in Columbia, South Carolina. Eastvaco’s management is …”
Please consider a bank statement noting that when checks cleared the bank and monies were accordingly deducted from the checking account, the bank reported it as a “debit” entry on the bank statem…
The partial financial statement items below were taken from the financial statements of Prone, Inc. This information can be used to correctly solve each of the ratios below. The information is in alp
during an accounting period, a business has numerous transactions affecting each of the following accounts. state for each account whether it is likely to have a debit entries only, credit entries onl…
why is there no pan-European accounting standarts enforcement body in the European Union? Ought one to be esteblished?
“2)Par lnc. reported the following pretax income (loss) and related tax rates during the
years 2002-2008.
Pretax income (loss) Tax Rate
2002 $40,000 30%
2003 25,000 30%
2004 60,000 30%”
The full disclosure principle, as adopted by the accounting profession, is best described by which of the following
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Father company acquired 80% of sun company for $425,000. The quisition date fair value of the 20% non-contrlling interest
“Greater internal failure costs as a result of appraisal activities generally result in less:
prevention costs.
appraisal costs.
external failure costs.
all of the above”
What if you don’t want to make reversing entries to accrued expenses? How do you make sure your balances are correct?
Abbey Co. sold merchandise to Gomez Co. on account, $13,500, terms 2/15, net 45. The cost of the merchandise sold is $9,450. Abbey Co. issued a credit memo for $2,000 for merchandise returned that ori
The Four Winds Hotel in downtown Phoenix has annual fixed costs applicable torooms of $9.2 million for its 600-room hotel, average daily room rates of $ 105, and average variable costsof $25 for each
these are only multiple choice question. $40 dollars is entirely entirely to much to answer multiple choice questions.
Discuss the relationship of the adjusted trial balance and the amount on the financial statements?
“which of the following factors may increase risk to an organiztion?
a)geographic dispersion of company operation
b)quality of personel
c)presence of new information tech
d)all of the above”
Instrument Corp. has the following investments which were held throughout 2010-2011: Market Value Cost 12/31/10 12/31/11 Trading $300,000 $400,000 $380,000 Available-for-sale 300,000 320,000 360,000…
“Answer both parts (5 points each).
The Phoenix plant of Baldo Chemical processes alphazine into betazine and gammazine. A batch consists of 20,000 gallons of alphazine, costing $11,000. Processin”
“1. A company acquires a rather large investment in another corporation. What criteria determine whether the investor should apply the equity method of accounting to his investment?
What indicate”
“A company sold $50 par common stock for a total of $290000.oo of which $40000.00 was credited to Paid -in-capital in Excess Par. (You must figure out how many shares were sold).
Record the treasury s”
“A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on
July 2, 20X7 to finance construction of a general capital asset. Interest is payable semiannu”
Tony Bautista needs $26,925 in 4 years. What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounde
“Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. The land and buildings have fair values of $45,000 and $455,000.
Required: Prepare journal entries to”
zear company produces an eletronic processor and sells it wholesale to manufacturing and retail outlets at $10 each. in zear’s year8 fiscal period, it sold 500000 processors. fixed costs for processor
Reese Company loaned $60,000 to another company on December I, 2004 and received a twelve-month, 8% interest-bearing note. Interest and principal will be due on November 30, 2005. Under the accrual ac…
“lease help with the following question. P8-2A
L. McArtor Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.
July 1 Establish”
Explain three practical implications of misclassifying product and/or period costs?
A company normally sells its product for $20 per unit. However, the selling price has fallen to $15 per unit. This company’s current inventory consists of 200 units purchased at $16 per unit. Replacem
On January 1, 2009, Plymouth Corporation acquired 80 percent of the outstanding voting stock of Sander Company in exchange for $1,200,000 cash. At that time, although Sander’s book value was $925,000,
A federal regulation sets a quantitative limitation on the amount of a certain pollutant that may be emitted fro industrial smoke stacks. Your state also has a standard, but the permisissible amount
“A corporation supplies the following information to you to determine its taxable income for states A and B:
State Sales Payroll Property
A 200,000 $80,000 $250,000
B $400,00 $120,000 $350,00″
“Assignment 2: LASA #1 Cost and Decision Making Analysis
Piedmont Fasteners Corporation makes three different clothing fasteners in its manufacturing facility in North Carolina. Data concerning the”
“The amount of a cash dividend is independent of whether or not the shareholder is a corporation.
True/False”
I need this by Sunday at 10pm. It has 5 questions to it. 1. Saalfrank Corporation is considering two alternatives that are codenamed M and N. Costs associated with the alternatives are listed below:…
“Case- Interaction between I.R.C. Sections 117, 127, and 132.
Sunshine University adopted a qualified tuition benefits program offering faculty, staff and their dependents the opportunity to advance”
“March, April, and May have been in partnership for a number of years. The partners allocate all profits and losses on a 2:3:1 basis, respectively. Recently, each partner has become personally insolve
“31. When calculating debt to equity ratio:
Convertible bonds should be treated as debt
Convertible bonds should be excluded from debt but not included in equity
Convertible bonds should”
A building was purchased for $75,000. Assuming annual depreciation of $2,500, the book value of the building one year later is $77,500.
“Consider the following information pertaining to a year’s operations of Youngstown Manufacturing:
Units sold 1,400
Units produced 1,600
Direct labor $4,200
Direct materials used 3,500
Fixed man…”
“Comparative balance sheets and an income statement for 2008 are presented below for Nroklesah Company.
Comparative Balance Sheets”
As the price of a resource (e.g., labor) decreases, (Points: 1) demand for that resource increases the quantity demanded of that resource decreases the supply of that resource increases producers a…
“1. FS Supermarkets has decided to increase the size of its Memphis store. It wants information about the profitability of individual product lines: soft drinks, fresh produce, and packaged food. FS”
What is a control account amd what purpose does it serve?
The Village of Harris issued $5,000,000 in 6 percent general obligation, tax-supported bonds on July 1, 2008, at 101. A fiscal agent is not used. Resources for principal and interest payments are to c…
What is your estimate of the intrinsic value of Home Depot’s stock as of February 1, 2001, assuming that it will have: (a) the same sales growth rate as in fiscal 2000 for the next fifteen years, (b) …
I have attached the problems E10-14 Effect of taxes on break-even and target volume Lewis Products, inc. desires to earn an after-tax income of $150,000. It has fixed costs of $1,000,000, a unit sales…
Rica’s Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pair of shoes are boxed individually, they are crated and shipped in batches. the shipping dept records both va
“Which of the following is the correct sequence of events?
Analyze a transaction; record it in the ledger; record it in the journal.
Analyze a transaction; record it in the journal; record”
“1. During 2009, Von Co. sold inventory to its wholly-owned subsidiary, Lord Co. The inventory cost $30,000 and was sold to Lord for $44,000. From the perspective of the combination, when is the $14,”
AFN equation Carter Corporation’s sales are expected to increase from $5 million in 2005 to $6 million in 2006, or by 20 percent. Its assets totaled $3 million at the end of 2005. Carter is at full
“Chung Inc. is considering the replacement of a piece of equipment with a newer model. The following data has been collected:
Old Equipment New Equipment
Purchase price $ 75,000 $125,000
Accumulated”
see the attachement [The following information applies to the questions displayed below.] In January 2009, Solaris Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demolis…
“””Responsibility for sales volume variance
Holbrook Company expected to sell 400,000 of its pagers during 2006. It set the standard sales price for the pager at $30 each. During June, it became obviou”
Articulate how companies make project selection decisions. Determine the implication on earnings and cash flow, and articulate in a memorandumwhy the MIRR project was chosen over the multitude of …
The Jarvis Corporation produces bucket loader assemblies for the tractor industry. The product has a long term life expectancy. Jarvis has a traditional manufacturing and inventory system. Jarvis is c
if a gain of $7,000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of
“Which of the following would be used to measure the performance of a segment in a profit-generating company?
Nonfinancial performance measures
Financial performance measures
Both financi”
Attached new assignment Chapter M1 Set B Assignments PROBLEMS ( P1-2B Managerial Accounting and Performance Measures Less Than An Hour provides film processing at a single store location. The store ha…
Matt Reiss owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base rate of $1,100 per month. One of the barbers serves as the manager and receives an extra $520 per month. In addition
ACC/280 Principles of Accounting Financial Accounting Ch03 E3-17 AND P3-2A AS SOON AS POSSIBLE
Use the information in case Exhibits 1 and 2 and other necessary data in the case on activities and costs to develop an activity-based cost system for JBI to use to determine customer profitability
“. Patent laws (Points: 1)
reduce incentive to innovate by restricting market entry
reduce incentive to innovate by making it difficult to use the patented innovation
incre”
“Assignment Instructions: Write an 8 to 10 page Case Analysis of the following article (which can be found in the Ashford Online ProQuest database): Souza, M. & McCarty, B. (2007). From bottom to top:…
Farmer Frank’s produces items from local farm products and distributes them to supermarkets. Over the years, pricee competition has become increasingly important, so Susan Kramer, the company’s contr
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
On January 1, 2009, Porter Company purchased an 80% interest in the capital stock of Salem Company for $850,000. The fair value of the noncontrolling interest was proportionate to the consideration pa…
“C: 3-1 High Corporation incorporates on May 1 and begins business on May 10 of the current year. What alternative tax years can High elect to report its initial year’s income?
C: 3-11 Why are cor…”
During 2011, Crawford Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crawford for a lump sum of $60,000, because it is discontinuing manufacturing operati
63 multiple choice for non-profit and governmental accounting 1. A primary characteristic that distinguishes governmental entities from business entities is a) the need to generate revenues equal to o…
Goods costing $2000 are purchased on account on July 15 with credit terms of 2/10,n/30. On July 18 a $200 credit memo is recieved from the supplier for damaged goods. How would you give a journal on J
Which of the following is NOT a cost that is typically incurred as part of a business combination: a. Direct Costs b. Research & Development Costs c. Cost of Issuing Securities d. Indirect & Genera…
On July 10, 2010, Ariff places in service a new sports utility vehicle that cost $70,000 and weighed 6,300 pounds. The SUV is used 100% for business. Determine Ariff’s maximum deduction for 2010, as…
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Stock dividends have no effect on assets or liabilities?
Please let me know if you can help on this question. Please note the date of purchase is Jan 2nd. Session 6 Problem 1 The Primark Company purchased a machine on January 2, 2010 and uses the 150%-decli…
business risks that are inherent in the company’s business.
“1. On May 1,2008” & “2. The Callister Company…” (QuestionS attached)
“Which of the following is not a difference between the accounting treatment for depreciation and cost depletion?
Depletion applies to natural resources while depletion applies to plant and equipme”
What are some ethical challenges an accountant might have to deal with when presented with a client’s documentation of debtor-creditor relationships?
Easywrite Software Company shipped software to a customer on July 1, 2011. The arrangement with the customer also requires the company to provide technical support over the next 12 months and to ship
Atlantic Corporation, a calendar-year taxpayer, has $120,000 of accumulated E & P deficit as of January 1. Atlantics current E & P is $40,000. The corporation makes a $50,000 distribution to its shar
“The town of Newport issued $1,500,000 of general obligation refunding bonds at a 2% premium. Bond issuance
costs of $15,000 were incurred. The proceeds, net of the premium, are being used to refund t”
John Jergen’s stock basis is $3,000 and he has owned it for two years. If E&P is $4,000 and John receives a distribution of $12,000, the result is a dividend of $4,000, a return of capital of $3,000…
“Equity transactions.Foley Corporation has the following capital structure at the beginning of the year: 6% Preferred stock, $50 par value, 20,000 shares authorized,
6,000 shares issued and outstan”
In what two ways is the word credit defined in Debits and Credits?
“Management is often unwilling to implement an ideal system of internal controls because
control failures are infequent
b)such system is too expensive
c)suffeciant tech. doesn’t exist to afford i”
Beta is often referred to/incorporated into analysis, but using beta could be faulty. Why?
what is direct labor expense as a percentage of revenue for McDonald Corporation?
Hoechst Celenase, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to motivate employees. To operationalize the plan, the Hoechst Celanese
“The following data pertains to the dress division of the Cross and Allan Company:
Sales $1,000,000
Invested capital $700,000
Net operating profit aft”
“Product Costing
In the text you used accounting data on DuPont’s Kevlar product line to determine the total manufacturing cost to produce a pound of Kevlar. Similar data on DuPont’s Teflon product li”
“The company borrows funds, in increments of $1,000, and repays them on the last day of the
It pays interest of 1.5 percent per month in cash on the last day of the month. For safety, the
comp”
Are there disclosure requirements in the United States that govern the reporting practices of foreign currency transactions?
Intermediate Accounting 13th edition Kieso Weygandt Warfield Chapter 23 Statement of Cash Flows. I have attached 3 questions and cut and pasted them here too. The following accounts increased during 2…
If the standard hours allowed are less than the standard hours at normal capacity, the volume variance A) cannot be calculated. B) will be favorable. C) will be unfavorable. D) will be greater tha…
“E19-2 (Two Differences, No Beginning Deferred Taxes, Tracked through 2 Years)
The following in- formation is available for McKee Corporation for 2010.
Excess of tax depreciation over book depr”
Capital Budget Recommendation Guillermo Furniture, a company that manufactures midgrade and high-end sofas, has just hired you as an accountant. The owner, Guillermo Navallez, has assigned you the tas…
Why does a mortgage firm securitize some of the parts of its portfolio?
Shorewood Shoes Company makes and sells a variety of leather shoes for children. For its current mix of different models and sizes, the average selling price and costs per pair of shoes are as follows
Bisson Furniture uses a process cost system to account for its chair factory. Beginning inventory consisted of 5,000 units (100% complete as to material, 55% complete as to labor) with a cost of $124,
My assignment is 9-30 Master Budget with Supporting Schedules. I have included the question information and an excel sheet to put answers on.
“P16-1
The stockholders’ equity section of Martino Inc. at the beginning of the current year appears below.
Common stock, $10 par value, authorized 1,000,000
shares, 300,000 shares issued and out”
“Accounting Information and Business Decisions
Ned Bonapart is purchasing manager for a clothing store. On April 22, Ned received the following weekly report for men’s suits purchased from one of …”
“have three free questions for today and below is multiple choice
A job-order costing system is likely used by a
soft drink bottler
breakfast cereal manufacturer
paint man”
(TCO 3) Amy needs to save $20,000 in cash to buy a new car five years from today. She expects to earn 6.5 percent, compounded annually, on her savings. How much does she need to deposit today, if t
Is it true that financial planning models guide managers through the budget process so that managers do not really need to understand budgeting?
On september 16, 2009, Donald Dunn sold for $80,000 property with an adjusted basis of $20,000. The buyer paid $20,000 down with the remaining $60,000 to be paid in four equal annual installment of $1
“Use the balance sheets of Sando shown below to calculate the following ratios for 2010 (round to the hundredths):
Current ratio.
Acid-test ratio.
Debt ratio.
Equity ratio.
Sando”
After-tax cost of debt The Heuser Company’s currently outstanding bonds have a 10 percent coupon and a 12 percent yield to maturity. Heuser believes it could issue new bonds at par that would provide
are gains on unsettled foregin currency balances realized? When should they be recognized as income?
See attached spreadsheet for problem.Please explain any calculations The following facts pertain to a noncancelable lease agreement between December Leasing Company and Fayett Electronics, a lessee, f…
“Wong furniture company had a cash balance on december 31, 20×0, of 50,000 It´s net income for 20×1 was 361,000. It´s 20×1 transaction affecting income or cash
– sales of 1.600 all on credit. Cas…”
Sherry Hopson owns a retail family cothing store. Her store is located at 4321 Circle Drive, Houston, TX 77001. Her employer identification number is 95-1234321 and her Social Security number is 123-4…
Provide specific examples of accounting information that might be useful in assessing Michael Porter’s cost leadership competitive strategy.
“Assume the current ratio is 2 to 1. Payment on accrued salaries payable would cause the current ratio to
increase
decrease
be unchanged since the effects offset one another
be unchange”
The Audit Report and Internal Control Evaluation. 700 – 1,000 words. This paper should be posted as a Microsoft® Word attachment in the Assignment Section and should adhere to APA formatting style….
“I need the whole homework solution for the book in pdf files to study from them. Any help please?
Accounting Tools for Business Decision Making Kimmel 3rd Edition Solutions Manual. 2nd value”
Seeking guidance and help to understand textbook problems. Only four problems. Please see attachment. Thanks Text Problem Sets: Copley: 5-7 & 5-10 part a; Copley: 6-10; Copley: 7- 6 part a Text Proble…
This is for CP5-1 financial reporting project Mini Practice set out of Principals of accounting ISBN# 978-0-07-327395-2. I could type out entire question but it is rather long. It is on page 257-258 d
“Journalize the following selected transactions completed during the current fiscal year:
Jan 3: The board of directors reduced the par of common shares from $100 to $20. This action increased the num”
“What is a joint venture and how are joint ventures organized?
Th word limit should be between 100-250.”
Default risk premium The real risk-free rate, r*, is 2.5 percent. Inflation is expected to average 2.8 percent a year for the next 4 years, after which time inflation is expected to average 3.75 perce
I need to write an essay regarding International Standards Boards and FASB convergence project and accounting education
Installment Sales Method Ruxton, Inc. accounts for all sales of its merchandise on the installment basis. Following is the unadjusted trial balance at 12/31/09: Cash———————————–
“The book basis of depreciable assets for Getty Co. is $900,000, and the tax basis is $700,000 at the end of 2007. The enacted tax rate is 34% for all periods.
Please answer as soon as is possible
T”
“A lack of reasonable care that may be characterized by the failure of auditors to follow GAAS in the conduct of the audit is known as
constructive fraud
fraud
gross negligence
ordina”
In 2009, Gail had a § 179 deduction carryover of $15,000. In 2010, she elected § 179 for an asset acquired at a cost of $115,000. Gail’s § 179 business income limitation for 2010 is $127,000. De…
“Which of the following is a normative statement?
The temperature is high today.
The humidity is high today.
It will cool off later this evening.
It is too hot to p”
The CFO organization handles company and project forecasts. The difference between the actual value and the projected value is called data dispersion. Please describe several ways the CFO organization
“Captain Cook Cereal includes one coupon in each package of Granola that it sells and offers
a puzzle in exchange for $2.00 and 3 coupons. The puzzles cost Captain Cook $3.50 each.
Experience indic”
Morgan’s Rating Service has the following amounts at December 31: Common Stock, $1 par, 500 shares issued, $500; Paid-in Capital in Excess of Par Value, $10,000; Retained Earnings, $7,000; and Trea…
attached The Best Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $55,000, and the following capital balances: Rodriguez $45,000 and Escobedo $20,000. The firm is liquida…
The IRS can use § 482 reallocations to assure that transactions between related parties are properly reflected in a tax return.
Can someone help me with these multiple choice please? my assignment is due tonight at 11 pm EST.
Holcomb Corpsssoration owns machinery with a book value of $190,000. It is estimated that the machinery will generate future cash flows of $200,000. The machinery has a fair value of $140,000. Holcomb
As sales exceed the break-even point, a high contribution margin percentage
“In an advertiser’s records, a newspaper ad submitted and published this week with the agreement to pay for it next week would:
Decrease assets and decrease expenses.
Increase liabilities and”
“27. Five years ago, Eleanor transferred property she had used in her sole proprietorship to Blue Corporation for
1,000 shares of Blue Corporation in a transaction that qualified under § 351. The ass…”
“E4-17A (Learning Objective 2: Identifying internal control strengths and weaknesses) The following situations describe two cash payment situations and two cash receipt situations. In each pair, one se”
COMPANY A Has been offered a contract by a customer,Company B,to purchase 4000 units of a product X at a price of RM120 per unit.The management of COMPANY A have estimated that the production resour
Events: The controller of Gomez Corporation believes that company’s yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Gomez Corporation, nervous that the stockh…
If a business does not know why they have a favorable or unfavorable variance how can that take corrective action which is the real job of management?
Why would certain figures such as amortization or impairment of goodwill be different for the IFRs/GAAP adjustment for net income and stockholder’s equity?
Which of the following is included in comprehensive income?
“1. (Points: 1)
The primary purpose of hiring a public accounting firm to examine the financial statements of the company is
to assure no fraud has been committed by the company’s mana”
“financial statement fraud schemes by using the Apollo Shoes Casebook.
Describe the types of evidence you would look for to determine whether fraud is occurring.
Write a business brief of…”
“As of May 31, 2009, the bank statement showed an ending balance of $17,632.52. The following information was available:
1) Deposits in transit $3,145.00
2) Credit memo for interest earned $80.00″
“18) The business failed to close any of the revenue accounts, this error will cause:
the assets will be overstated.
the liabilities will be overstated.
before closing it, Income Summary wi”
“Problem 19-1A: Production costs computed and recorded; reports prepared L.O. C3, P1, P2, P3, P4
Lemmon Co.’s March 31 inventory of raw materials is $170,000. Raw materials purchases in April are $3″
A subsidiary has a debt outstanding that was originally issued at a discount. At the beginning of the current year, the parent company acquired the debt at a slight premium from outside parties. Which
Please show me or tell me in a message how you got the answer thank you 🙂 On May 10, Mazili Corporation issues 2,000 shares of $10 par value common stock for cash at $18 per share. Journalize the iss…
William has decided to purchase a large apartment complex. He pays $100,000 cash, obtains a loan on the property for $500,000, and assumes the first mortgage balance of $250,000. He also gives the sel
An increase in the plant and equipment account of $100,000 over the course of a year would be shown on the company’s statement of cash flows prepared under the indirect method as: a. an addition to ne…
“1. What is a point of sale system?
Does a point of sale system increase or decrease the likelihood that cash will be stolen by employees? Explain.
What additional features of a traditional”
What are the required financial statements for a propreitary fund?
“Bjerg Corporation incurred several costs. Prepare entries for manufacturing costs. Journalize the following transactions.
Purchased raw materials on account $46,300
Raw Materials o”
The loan department of Local Bank uses standard costs to determine the overhead cost of processing loan applications. During the current month a fire occurred, and the accounting records for the depar…
Assuming that you have developed a pattern of average % collections over a three or four month collection period, using quantitative or qualitative methods, do you think you can then use this % model
The questions to be answered are at the end of page three (Required a-b). Please provide answer in Excel. Thank you!
“Discussion questions
1
Develop brief answers to each of the following questions:
Where in the financial statement s are investment transactions reported?
What would cause an Allowance Sho”
“The following information is available from the annual reports of Marin Company and Nance Company:
Instructions
For each company, compute the following ratios:
Current ratio
Deb”
Can someone please show me how to do the Comprehensive Problem 3 in Accouting Chapters 14-26 by Warren, Reeve, and Duchac 23rd edition. Thank you so much.
“Mike Horn Corporation manufactures sweatshirts for sale to athletic-wear retailers. The following information
was available for Horn for the years ended December 31, 2009 and 2010.”
E8-21 (LIFO Effect) The following example was provided to encourage the use of the LIFO method. In a nutshell, LIFO subtracts inflation from inventory costs, deducts it from taxable income, and record
Davis Corporation, a manufacturer, has taxable income of $150,000. Davis’s regular tax liability is
A deferred tax liability is classified as current or noncurrent based on the classification of the asset or liability to which it relates. Answers to True/False: 1. True 2. False 3. False 4. False
Under what circ*mstances would each approach to stakeholder impact analysis (moral standards, 5-question, and Pastin’s approach) be most useful? Generalize about the approaches and describe when eac…
“which of the folloeing is not a consideration when determining whether to continue making a part of to buy that part?
a)timing of the cash recipts and expenditures
b)opportunity costs
c)impact on e”
Pinnacle Manufacturing: Part V 50 marks Part III of the Pinnacle case study (see Chapter 8) covered the internal control structure and an initial assessment of control risk over purchase and cash paym…
“Can you please help me understand and answer these questions?
Please see *BOTH* Word attachments for complete question list!
MULTIPLE CHOICE QUESTIONS
Please indicate your answer to the following”
“””The items below represent the ratios to be calculated for McDonald’s Corp.
The question is not incomplete. Need to calculate/ find out the ratios for the following items below for McDonald’s Corp”
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a 700-1050-word letter that explains how you plan to begin the
Ok here is the other assignment, I need completed thanks. ACCT212 Project 2: Financial Statement Analysis-YUM! Brands, Inc. Due by Sunday, end of Week 7, 11:59 P.M. (MT) – 75 points Description: Using…
“””Gains”” on sales of treasury stock (using the cost method) should be credited to:
retained earnings
paid-in capital from treasury stock.
capital stock
other income.”
“This Web Field Trip brings you to two websites: American Band and BandShoppe.com. Use information from these sites to find the answers to the questions asked in the Exercise that follows.
Americ”
“Conversion costs:
include all the factors of production
include direct materials
in process costing are usually considered to be added evenly throughout the production process
both b”
Columbia and Afghanistan have substantial drug trades. The economic realities of the drug trade have resulted in drug crops receiving a large allocation of the total farm production in these nations.
Please help with the attached problem. Please provide detailed solutions for each question. Five years ago, Kennedy Trucking Company was considering the purchase of 60 new diesel trucks that were 15 p…
“Ethyl owns a small strip mall that has an adjusted basis of $950,000 but is subject to a mortgage of $240,000. She transfers the strip mall to Bert and receives from him $150,000 in cash and an offic
“Project selection Midwest Water Works estimates that its WACC is 10.5 percent. The company is considering the following capital budgeting projects:
Project Size Rate of Return
A $1 million 0%
B”
Hello Michael, I submitted an assignment to you Sunday morning and the due date is tomorrow morning, I never received an e-mail notifying me it was been completed. I’m not really sure how this process…
Factory Overhead is applied at a rate of $9 per hour, of which $6 is variable. The actual variable factory overhead is $32,000. In the current period, 2500 units are produced at a standard time of 2 l
“The balance sheet presentation of accounts receivable net of the allowance for doubtful accounts has the effect of stating accounts receivable at:”
Abbey Co. sold merchandise to Gomez Co. on account, $35,000, terms 2/15, net 45. The cost of the merchandise sold is $24,500. Abbey Co. issued a credit memo for $3,600 for merchandise returned that or
Attached two problems. 1. Prepare a Correct Trial Balance The trial balance of Geronimo Company does not balance. Your review of the ledger reveals the following: (a) Each account had a normal balance…
“The petty cash fund of Western Glass Company contained the following items on November 30, 2009:
Currency and coin 23
Reciepts for following expenditures:”
I’ve attached the assignment FA #3 Case 10-3 Restructuring Costs Pharma Co. is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accordance with (1) U.S. GAAP for reporting …
Examine a random sample of 100 acquisition transactions to determine whether each was authorized by an appropriate official and paid within the discount period to obtain the maximum cash discount.
Midwest Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 50,000 units next year and Product L is expected to sell 10,000 units. A unit of eith
The Orange Corporation was audited for the year ended December 31 and the reports were delivered on February 15. After the fieldwork was completed on January 25, the auditor learned of a two-for-o
“I’m looking for some guidance on the below question. I’m not sure how to provide an answer for it. Not sure if it should be in some type of statement format. Thanks.
A parcel of land that was ori”
“AP16-1
(Entries for Various Dilutive Securities)
The stockholders’ equity section of Martino Inc. at the beginning of the current year appears below.
Common stock, $11 par value, authorize”
“Which of the following is not a type of operating asset ?
Intangibles
Receivables
Land
Inventory”
“P12-17 Translation, Journal Entries, Consolidated Comprehensive Income, and Stockholders’ Equity”
Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic U…
“Instructions: Match the cash expenditures given below with the appropriate accounting treatment. An individual classification may be used more than once, or not at all.
Treatments
Record the expe”
Which of the following is NOT an underlying assumption of cost-volume-profit analysis?
Ross White’s machine shop uses 2,500 brackets during the course of a year, and this usage is relatively constant throughout the year. These brackets are purchased from a supplier 100 miles away for $1
Willing to negotiate price. Thank You.. Gummo company sells many products. Guzmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gummo for the month of March….
Overhead is applied on the basis of direct labor hours. Three direct labor hours are required for each product unit. Planned production for the period was set at 8,000 units. Manufacturing overhead
Rental Income. Ed owns Oak Knoll Apartments. During the year, Fred, a tenant, moved to another state. Fred paid Ed $1,000 to cancel the two-year lease he had signed. Ed subsequently rented the unit to
On October 30, goods with a list price of $9,200 are sold, subject to a trade discount of 25 percent with terms of 2/10, n/30. Payment is received from the customer on December 11. The amount of cash
“Janice is a 48 year old widow whose husband died last year. During 2010, her 16 year old dependent
son lived with her for the entire tax year. Janice’s 2010 income”
I need help with 2 problems that I am stuck on in Ch. 12 accounting. Ch. 12 Help- 2 Problems 12-22) On February 27, Ball Corporation acquired 4,000 shares of the 50,000 outstanding shares of Bat Co. c…
“Ever Company budget sales at S2,000,000 and expects a net income before tax of 10% of sales.
Expenses are estimated as follows:
Selling 15% of sales
Administrative 9% of sales
Finance”
“””Joan’s Golf Shop had the following transactions involving current liabilities in its first year of operations:
The company ordered golf equipment from suppliers for $ 546,000, on credit. It p…”
From the following list, identify the accounts that will appear on the postclosing trial balance. Accounts 1. cash 2. accounts receivable 3. Supplies 4. equipment 5. accumulated depreciation 6. accoun…
“The act of entering an amount on the left side of an account is called _______________ the account, and making an entry on the right side is called ________________ the account.
Thank you for yo”
The LMN Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Kathie, Lynn, Mark, and Norelle) are entitled to the trust’s annual accounting incom…
Milner Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 box tops from the Milner Frost Flakes boxes and $1.00. The company estimates that 60% of the box tops will be
“4. Sims Company is in the electronics industry and the price it pays for inventory is decreasing. (1 Point) Indicate which inventory method will:
provide the highest ending inventory. b. provide”
Sheldon owns 600 shares of the 1,000 shares outstanding of Hawk Corporation (E&P of $500,000). The remaining stock in Hawk is owned by several shareholders unrelated to Sheldon. In the current year, H
“””27. Which of the following is a key recommendation in the report completed by the AICPA Special Committee on Financial Reporting? A) Auditors should provide additional qualitative commentary on the q”
“1.Which one of the steps below is not aided by the preparation of the work sheet?
preparing the adjusted trial balance
posting to the general ledger
preparing the financial statements”
What are reversing entries and why are they required? What transactions might require reversing entries? What transactions might not? What would happen if reversing entries were not made?
Which of the following would an auditor most likely question included in calculation of the overhead rate for a company that manufactures a product? A.Factory supervisor salary B.Indire…
“I must have the formulas and where the numbers go in the formula and the answers for all questions.
(Bond valuation) Find the missing information for each of the following bonds. The coupons”
“On which financial statement will Income Summary be shown?
Statement of Owner’s Equity
Balance Sheet
Income Statement
No financial statement”
Write a one-page Executive Summary assessing the requirements of SFAS 116 and 117 and its effects on the financial statements Executive Summary The purpose of an executive summary is to summarize a re…
“1. In a bank reconciliation, adjustments to the bank balance could include adding deposits in transit and deducting bank service charges.
True
False
Important elements of an internal con”
I need help completing this project attached ACCT212 Project 2: Financial Statement Analysis-YUM! Brands, Inc. Due by Sunday, end of Week 7, 11:59 P.M. (MT) – 75 points Description: Using the financia…
Comprehensive problem one , Noah and joan Arc’s tax return
“16. A partnership will take a carryover basis in an asset it acquires when:
The partnership acquires the asset through a § 1031 like-kind exchange.
A partner owning 25% of partnership capital…”
How is total asset turnover calculated? Why would a financial statement user be interested in this ratio?
comparative balance sheets for Bayshore Industries, Inc. as of Dec. 31, year 2 and year 1, are presented below. Use this information to answer the subsequent questions.
“7. Operating lease.
Maris Co. purchased a machine on January 1, 2011, for $1,000,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be”
Procedures testing balance-related assertions are usually applied to the ending balance in income statement accounts; procedures testing transaction-related assertions are usually applied to transacti
Sybil gave her son Todd 1,000 shares of XYZ stock on January 16, 2008. The stock’s high and low selling prices that day were $55 and $53.
“The price of one currency stated in terms of another currency is called a(n):
Answer
1)foreign exchange rate.
2)currency transaction.
3)historical exchange rate.
4)international conversi”
“Lease VS. Buy
Trasky Company is trying to decide whether it should purchase or lease a new automated machine to be used in the production of a new product. If purchase, the new machine, the new machi”
I need help with part 3 of this question regarding transfer pricing. David Topics on International Accounting Unit Exam III A. Alternative 2: Transfer pricing analysis 1. Global Enterprises has a manu…
“Kolb Company prepared its income statements for the current year using three alternative cost systems as follows:
Sales Revenue
Company A 200,000 Company B 200,000 Company C 200,000
Cost of Good”
At December 31, 2006, Agler Company had 1,200,000 shares of common stock outstanding. On September 1, 2007, an additional 400,000 shares of common stock were issued. In addition, Agler had $12,000,0
“As required to complete course project 1, one must follow the cycle that includes 10 steps to complete the accounting cycle.
Explain how to construct an unadjusted trial balance
Provide an”
Buzz corporation sold an office building that it used in its business for $500,000. Buzz bought the building for ten years ago for 650,000 and has claimed 200,000 of depreciation expense what is the a
attached G. Olde and R. Young share income on a 6 : 4 basis. They have capital balances of $100,000 and $70,000, respectively, when K.Twener is admitted to the partnership. Instructions Prepare the jo…
“Without notifying her bank, Sonya wrote a postdated check to the university for her tuition. Sonya’s bank:
will not be liable if it cashes the check before its date.
can only make…”
What does a statement of cash flows tell us about the short and long term prospects of the firm?
“Second attempt….
Using the treasury stock method, the options would result in how many extra shares being recognized in the diluted EPS calculation:
500,000
358,975
333,333″
“7. All else constant, the weighted average cost of capital for a firm will decrease if:
a firm’s bonds start selling at a premium, rather than at a discount.
the market risk premi”
“The budget which provides data on the quantities of direct materials purchases necessary to meet production needs is the:
direct materials purchases budget
sales budget
production budget”
“Go to the Federal Reserve’s Web site to examine historical monthly interest rates on 10-year government bonds at http://www.federalreserve.gov/releases/h15/data/Monthly/H15_TCMNOM_Y10.txt
(Histo…”
write the memo based upon Bradley’s observation notes and what you observed when you were there on December 31
“2. Deferred income taxes.
Hunt Co. at the end of 2010, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:
Pretax financial incom”
QUESTION: Cost Plus, Inc.’s Portfolio of marketable securities was as follows (all securities were purchased in the current year): Attached are the figures for Cost Plus QUESTION: Cost Plus, Inc.’s Po…
“Gotham Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available:
The ending inventory balance of $412,000 included $72,000 of consi”
Tan Corporation (E&P of $700,000) has 1,000 shares of stock outstanding owned by two unrelated individuals, Jacob (600 shares) and Julie (400 shares). Both shareholders paid $75 per share for the stoc
“which of the following items appears only in a manufacturing company’s financial statements?
A)cost of goods sold
B)cost of goods manufactured
C)goods available for sale
D)gross profit
E)net inco”
“Please help me solve this problem. I don’t just want the answer, I would like to know how to solve the problem. Thanks!
“”The Clark Company makes a single product and uses standard costing. Some d”
“After management has set short-term goals, the budgeting process typically starts with
a clearly defined timetable of events
input only from the accounting personnel
the naming of an eff”
see the attachment On April 1, 2009, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month: April 1 Nozomi invested $29,000 …
“The total on the “”schedule of accounts payable”” at January 31 should equal
the sum of the accounts payable and notes payable controlling accounts totals at January 31
the total of the purchase”
Digital Audio Works, Inc. warrants its product for 1 year. The estimated product warranty is 1.5% of sales. Assume tha sales were $975,000 for January. In February, a customer received warranty repair
Assignment in attachment. Very simple assignment. Question 1 Cost of goods sold is determined only at the end of the accounting period in both a perpetual and a periodic inventory system. neither a pe…
Identify the accounting and reporting issues in the situation presented below: Modifications to Terms of Sale To incentivize customers to purchase certain new product lines, ICE has modified certa…
. On January 1, 2009, the Plimpton Corporation leased some equipment on a 2-year lease, paying $15,000 per year each December 31. The lease is considered to be an operating lease. Prepare the general
Suppose £1 = $2.50 in New York, $1 = ¥125.00 in Tokyo, and £1 = ¥250.00 in London. If you begin by holding ¥100, how could you profit from these exchange rates? Ignoring transaction costs, what i…
“Douglas Corporation reports taxable income of $180,000.
Calculate Douglas’s tax liability for the year.
Calculate Douglas’s tax liability for the year if it were a qualified personal ser”
“According to SGAS 34, notes to the financial statements:
are an intrgal part of the financial statements because they present information essential to fair presentaion that is not reported on the”
“Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds by Titus Co.:
January 1
Issued $600,000 face value, 8%, 5-year bonds for $651″
“If beginning capital was $70,000, ending capital is $48,000, and the owner’s withdrawals were $21,000, the amount of net income or net loss was (Points: 3)
net income of $42,000
net”
Corrine earns a salary of $150,000, and invests $60,000 for a 20% interest in a passive activity. Operations of the activity result in a loss of $400,000, of which Corrine’s share is $80,000. How …
“13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing
the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume
that you have sepa…”
“2. Job Inc. owns 20,000 shares of Nojob Company which it bought in 2005.
Nojob’s total stockholders’ equity is as follows:
Common stock, $20 par $500,000
Additional paid in capital 200″
I attached a file of my home work questions.. 1. Raging Sage Coffee is a franchise that sells cups of coffee from a cart in shopping centers. A computerized standard costing system is provided as a pa…
“Jack Jones, age 35, is single and has no dependents. At the beginning of 2010, Jack started his own excavation business and operated the business as a sole-proprietor.
During all of 2010, Jack had”
In a diversified company, why is it necessary to show revenue and expense by product line (segment)? What ambiguity can result?
“I have two questions from a quiz, that I am not sure of. I have the correct answers, I just need to understand how to get the answers.
)On December 31, 20×7, Kallman Corporation had 160,000 shar”
“# 1 chart
unit product cost under absorption costing…..$46 per unit
Fixed manufactoring overhead cost for the year….$300,000
Fixed selling and adminstration cost for the year…$125,00
Unit”
Several years ago, Joy acquired a passive activity. Until 2004, the activity was profitable. Joy’s at-risk amount at the beginning of 2004 was $300,000. The activity produced losses of $80,000 in 2004
hi, expert, could you please help me to analysis the “home depot ” company’s balance sheet, income statement, ratio, cash flow statement in detail, i have attached the 10k form for these company, coul…
A machine with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amo
Can you please help me to do cash budget? ACC 419/519 Case 2 Fall, 2010 As you recall, your client Alice Jackson recently requested your assistance with a number of decisions related to her dry cleani…
“Bjerg Corporation incurred several costs. Prepare entries for manufacturing costs. Journalize the following transactions.
Purchased raw materials on account $46,300
Raw Materials o”
“You own Widgets ‘R Us and are preparing your year-end financial statements.
What inventory system do you use and why? What are its advantages and disadvantages?
What activities should y…”
“Use the following information to solve the Questions 1, 2, and 3 below:
The treasurer of Simmons Corporation, a newly formed software company, is trying to ascertain Simmons’s cash flows for the n”
“• Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following:
..”
Why is it that for the operating leverage in some industries, 10 percent ROA is the norm, while in others the operating leverage reflected is only 1 percent?
“All products go through a series of phases called the product life cycle. The product life cycle has a direct impact on a company’s cash flows.
Summarize the four phases (in order …”
please read the instructions on sheet 1, sheet 2 has the forms where the entries can be entered into. thanks Sheet1 AC2760 Week 1 Assignment Background Story: Colfax Dry Cleaners is owned and operated…
“12
Apex Chemicals Company acquires a delivery truck at a cost of $39,296 on January 1, 2010. The truck is expected to have a salvage value of $4,200 at the end of its 5-year useful life. Compute an”
“The Calais Company stresses competition between the heads of its various divisions, and it rewards
stellar performance with year-end bonuses that vary between 5% and 10% of division net operating
in”
“Many conflicts of interest in business contracts can be remedied ethically by which of the following?
Deception and disclosure
Camouflage and consent
Disclosure and consent”
There are many acquisitions in business. Do you have some ideas on what the key ingredients are to make them successful and why many of them are not? Why do you think some companies seem to do well wi
“1. Check out the IDEA website (http://idea.sec.gov/idea/searchidea/what_is_idea.html also
on the Weblinks tab). If you were an investor, how do you think having access to this
type of data would”
“Regarding the uploaded leasing Prestige case study:
how would you record the numbers? What are the journal entries, what is is the impact of depreciation and the end of year impact to the lease. Us”
“11. Which of the following statements about budgeting is true? (Points: 5)
If the budgeting process is to be effective, managers must believe they will be rewarded significantly only if they perform”
“High Low Method for a company?
the high low level of activity last year was 60,000 units of product produced in May and 20,000 units produced in November. Machine maintenance costs were $39,000 in Ma”
Don’t understand this so any help would be greatly appreciated. You can email me at simmy1989@yahoo.com. Assignment is attached. Thank You Donelan Company has three support-service departments (genera…
“The following current year information is available from a manufacturing company:
………………………..640,000
Gross Profit on sales…………..276,000
Operating Income…………”
Warren Company is planning to produce 2,000 units of product in 2010. Each unit requires 3 pounds of materials at $5 per pound and a half hour of labor at $16 per hour. The overhead rate is 70% of dir
You do volunteer work for a local hospital auxiliary. The hospital supplies the stock to be sold at its gift shop. Even though the hospital is a not for profit organization, the goal of the gift shop …
“The following question has to do with advanced federal taxation:
Discuss how each of the following affects the calculation of the basis of stock received by a shareholder in a section 351 transfer.”
I have included the project documents for the Big Al project, thanks.
. On November 1, 20A, Duval Company sold (issued) 300, $1,000, ten-year, 7% bonds at 97. The bonds were dated November 1, 20A, and interest is payable each November 1 and May 1. The amount of discount
“1.
(Points: 1)
With respect to a corporation, select the statement that is correct.
Its organization requires an approved charter which is governed by state law.
Ownership rights to t”
“You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest retained”
During the past two years, through extensive advertising and improved customer relations, Extreme Corporation estimated that it had developed customer goodwill worth $400,000. For the current year, 2
Accounting questions (please see attachment) Intermediate Accounting Please provide thorough explanations and full calculations for each answer chosen. d) It is known that goodwill that is purchased s…
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes.
“30) According to NACUBO guidelines, what is the correct treatment for recognizing summer school revenues and expenses when a college’s fiscal year ends on June 30?
Recognize the entire amoun”
“Installment sales.
Newton Co. had installment sales of $1,000,000 and cost of installment sales of $700,000 in 2010. A 2010 sale resulted in a default in 2012, at which time the balance of the instal”
“Lopez Company began operations in 2006. Since then, it has reported the following gains and losses for its investments in trading securities on the income statement:
2006 2007 2008″
multiple questions 1. Which of the following organizations would be most likely to use a job order costing system? (Points: 1) the loan department of a bank the check clearing department of a bank a m…
“The trial balance columns of the worksheet for Briscoe Company at June 30, 2010, is below.
Other data:
A physical count reveals $236 of supplies on hand.
$147 of the unearned revenue is still”
“Please help with this HW question.
Which of the following is not a factor in producing earnings forecasts?
estimating the levels of earnings
separation of nonrecuring and recurring elemen”
A Company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September 30 inventory is $25,000. If the December 31 inventory is targeted at $7
“To what account will the credit entry be posted for salaries due but unpaid?
Salaries Receivable C. Salaries Expense
Prepaid Salaries D. Salaries Payable”
i attach Transaction Date Accoun t Name Description Debit Credit 01 17. June 22: Received a bill for $1,140.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice num…
“DATA FOR PROJECT TWO FOR ADVENTURES ADVANTAGE INC.
Situation: The firm builds thrill rides for amusem*nt and theme parks. The rides are engineered at
its headquarters in Tampa, Florida”
During the year, Summit produces 40,000 snow shovels and sells 37,000 snow shovels. What is the value of ending inventory using full costing?
“Keystone corporation issued its fiunancial statments for the year ended december 312010 on March 102011. The following events took place early 2011.
On January 10, 10000 shares of $5 par value com”
“Recording Journal entries During March, Whisper Lane completed the following transactions Whisper Lane Production, Inc on March 1, 2012: 1. The company borrowed $6,000 from the bank with a short-term…
Berol Corporation sold 20-year bonds on January 1, 2008. The face value of the bonds was $100,000; and they carry a 9% stated rate of interest, which is paid on
The tax problem should be completed using 2009 individual income tax forms and rate schedules. The forms and the instructions can be accessed through the website of the Internal Revenue Service, www.I…
“Number 12 on page 264 –
Comparing Mutually Exclusive Projects Murray Industrial Systems Company is trying to
decide between two different conveyor belt systems. System A costs $485,000, has a f”
Restructuring Costs IFRS and US GAAP. Case 10-3 Restructuring Costs Pharma Co. is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accordance with (1) U.S. GAAP for reporti…
“Most businesses extend credit to other business as way of increasing sale.
Explain the difference between an account receivable and note receivable and
Provide an internal control measure”
On January 1, 2010, Lindsey Company issued 10-year, $3,000,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Lindsey common stock. Lindsey’s net income in 2011 was $2
On January 1, 2008, Garnett Company (as lessor) entered into a noncancelable lease agreement with Rush Company for machinery which was carried on the accounting records of Garnett at $4,530,000 and ha
“P17-5 Comprehensive: EPS Newton Company is preparing its annual earnings per share amounts to be disclosed on its
2010 income statement. It has collected the following information at the end of 2010:”
“which of the following is true for debt service funds?
a)a legally required budget should be recorded in the accounts
b)a combining balance sheet may not be prepared for a comprehensive annual finan”
“Use the following information to solve the Questions 1, 2, and 3 below:
Sellograph Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of Sellograph’s sales”
E6-15A (Learning Objectives 1, 2: Accounting for inventory transactions under FIFO costing) Accounting records for Richmond Corporation yield the following data for the year ended December 31, 2010: g…
“which of the following is NOT a consideration regarding a special order?
a)if the company has sufficient capacity
b)if the special order jeopardized sales to existing customers
c)federal laws regar”
The following transactions took place at the Cortez’s Leading Ladies during November 2010. Record the general journal entries that would be made from these transactions. use a compound entry for each
Credits decrease assets and decrease liabilities. Debits increase assets and increase liabilities. 26. Which of the following statements is true? A. Debits increase assets and increase liabil
“When converting an income statement from a cash basis to an accrual basis, cash received for services:
exceed service revenue
may exceed or be less than service revenue
is less than serv”
You find short time lags between deposits and withdraeals and large deposits made of fridays. What should you suspect?
“3. Munju Corporation is a calendar year, manufacturing corporation which was formed in 1974
and had accumulated earnings and profits of $200,000 as of the end of the preceding taxable
During t”
I have done almost all the work on this assignment.I have been told that the chart and the IRR is correct. However, I am stock in 1 question. Can you please review my answers to make sure they are cor…
. A department store has budgeted sales of 12,000 men’s suits in September. Management wants to have 6,000 suits in inventory at the end of the month to prepare for the winter season. Beginning invent
C:2-1 What entities or business forms are available for a new business? Explain the advantages and disadvantages of each. C:2-2 Alice and Bill plan to go into business together. They anticipate losses…
“The balance in the capital account will agree with the amounts found in which two financial statements? Why?
Which three types of accounts will have zero balances? Why?”
The accounting case assignment is attached. Memo and spreadsheet are required (600-700 words for Memo, plus the spreadsheet completion) Rar!###Ïs#########õ|t B#i##!u###ãPÍ6RFt?#3## ###Accoun…
Sven Enterprises is a large producer of gourmet pet food. During April, it produced 147 batches of puppy meal. Each batch weighs 1,000 pounds. To produce this quantity of output, the company purchas
On January 1, 2009, the Plimpton Corporation leased some equipment on a 2-year lease, paying $15,000 per year each December 31. The lease is considered to be an operating lease. Prepare the general jo
Writing assignment. (For details please see the attachde assignment.) Respond to client’s hypothetical transaction of interest. Be sure to address all points and include authoritative literature for…
“Barbara made a gift to Chris of a passive activity with an adjusted basis of $65,000, suspended losses of $20,000, and a fair market value of $90,000. Which of the following statements is true?
“
Can partners limit the right of a partner to commit their partnership to contracts? Would such an agreement be binding (a) on the partners and (b) on outsiders?
“On April 1, 2007, SAS Corp. purchased and placed in service a plant asset. The following information is available regarding the plant asset:
Make the necessary adjusting journal entries at”
The questions in this exercise are based on the Benetton Group, a company headquartered in Italy and known in the United States primarily for one of its brands of fashion apparel―United Colors of Be…
“You own Widgets ‘R Us and are preparing your year-end financial statements.
What inventory system do you use and why? What are its advantages and disadvantages?
What activities should y…”
The Adams Independent School District wants to sell a parcel of unimproved land that it does not need. Its three best offers are as follows: from State Department of Public Safety (DPS), $2.3 million;
“01. Responsibility accounting provides information that meets the criterion that control reports should be related to personal responsibility.
True
False
The frequency of the prepa”
“. On January 1, a company issues bonds with a par value of $300,000. The bonds mature in 5 years and pay 8% annual interest each June 30 and December 31. On the issue date, the market rate of intere”
“Hi Michael,
Just to test, Please send this assignment (6333274) to me again. JUST ATTACH AND SEND RIGHT BACK and I’ll let you know if I can open it. Please refund money ($5). This is just a test! Tha”
Patricia Duong, having recently obtained her MBA, has been hired by one of the last of the large investment banking firms. As part of her responsibilities, she is required to make recommendations on i
pete parlor started business january 1,2010.during january pete sold watches costing the company a total of $63,000 to produce. prepare the journal entry for this transaction
Orasco Company uses both standards and budgets. For the year, estimated production of Product X is 500,000 units. Total estimated cost for materials and labor are $1,260,000 and $1,830,000. Compute th
Write a 700 to 1,050 word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following: How are en
“Mr. Z, who is in the 33 percent marginal tax bracket and itemizes deductions, recently
inherited $30,000. He is considering three alternative options for this windfall. which alternative is best?”
“58. Hall Co. incurred research and development costs in 2013 as follows:
Materials used in research and development projects – $450,000
Equipment acquired that will have alternate future uses i”
Credit balance of $300 in the allowance account just prior to adjustment. Analysis of accounts receivable indicates doubtful accounts of $8,500.
Which of the following is NOT a cost that is typically incurred as part of a business combination: a. Direct Costs b. Research & Development Costs c. Cost of Issuing Securities d. Indirect & Genera…
The controller of a small private college is complaining about the amount of work she is required to do at the beginning of each month. The president of the university requires the controller to su
One reason that a common-size statement is a useful tool in financial analysis is that it enables the user to
“Ex. 16-120—Convertible Bonds.
Dahl Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2006 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2006 with interest …”
Select a company you are familiar with. Explain each step of the accounting Describe at least one transaction that would occur at the company you selected in each of these steps.
“Access Edgar online (sec.gov/whole market foods). Access the 10-K filing for the most recent fiscal year. Scroll to find the financial statement.
Calculate what cost of sales would have been for”
“””Polices for Budget Development
Hector Corporation is a manufacturing company with annual sales of $25 million. Its budget committee has created the following policy that the company uses each year”
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, Na
“The usual budget period is:
An annual period of 250 working days.
A monthly period separated into daily budgets.
A quarterly period separated into weekly budgets.
An annual period sep”
“Fred McClure is a self-employed architect. In 2010, Fred drove his personal car 9,000 miles for business. Fred spent the following amounts related to his car:
Gas and oil changes $4,659
Parkin”
Fine the present value of an investment in plant and equipment if it is expected to provide an annual earnings of $21,000 for 15 years and to have a resale value of $40,000 at the end of that period.
Magnolia, Inc. manufactures bedding sets. The budgeted production is for 55,000 comforters in 2010. Each comforter requires 7 yards of material. The estimated January 1, 2010, beginning inventory is 3
Could you please answer these quizzes? Thank you Take Test: Chapter 14: Interactive Quiz B Content: Long-Term Liabilities Instructions Name Chapter 14: Interactive Quiz B Instructions Multiple Attempt…
Discuss and identify how the four basic financial statements are important, and how they are interrelated with each other, and why they are useful to managers, investors, creditors, and employees.It h
From the auditors’ point of view, inventory counts are more acceptable prior to the year-end when:
“Property taxes on a manufacturing plant are an element of: (Points: 5)
Conversion cost – yes, period cost – no
Conversion cost – yes, period cost – yes
Conversion cost – n”
HSM 260 Day 4-Week6: Calculate the fixed cost, variable costs and break-even point for the program suggested in Appendix D (XYZ Nonprofit Corporation). XYZ NONPROFIT CORPORATION BALANCE SHEET 2002 (A)…
Challenging budgets tend to: a. exclude line management b. reduce productivity c. increase anxiety without motivation d. motivate improved performance
How does the McDonald Corp. resolve conflicts? Please provide references.
An entity accomplished an early extinguishment of debt and the auditors believe that literal application of GAAP would cause recognition of a loss that would materially distort the financial statement
when is a sponsoring firm required to consolidate the financial statements of a VIE with its own fiancial statements?
garnishes, inc has sales for the year of $46,300 and cost of goods sold of $21,700. the firm carries an average inventory of $4,800 and has an average accounts payable balance of $4.400. what is the i
If you don’t use a reversing entry, what is the entry when you make/receive the payment?
“A firm has a degree of financial leverage of 1.3. If earnings before interest and tax increase by 10%, then net income
Will increase by 13.0%
Will increase by 13.
Will decrease”
“How is the cost principle applied to plant assets, acquisitions, including lump-sum purchases?
need 200 words”
Explain in narrative form the flow of direct materials, direct labor, and factory overhead costs through the ledger accounts.
“Please help me with this accounting question. I would like to know how to solve this, not just the answer.
Thank you!
The Clark Company makes a single product and uses standard costing. Some data”
“Handy Company purchased equipment that cost $750,000 on Jan. 1, 2006. The entire cost was recorded as an expense. The equipment had a nine-year life and a $30,000 residual value.
The error was disc”
“Sales and Production Budgets (8-12): The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):
1st Quarte”
“Beasley Corporation issued 1,000 shares of its $10 par value common stock for cash at $11 per share.
Create an entry to reflect the receipt of cash in exchange for the stock sold in the scenario.”
Accounting Firm is among several defendants found liable in a private civil action brought by an individual plaintiff inder the SEC of 1934. Plaintiff, who has a net worth of $500,000. received judge
“””Problem 52
Frank B. and Lucy B. Rose have no dependents and are both under age 65. Frank is a statutory employee of green valley, a wholesaler of recyclable materials (business code is 421930); his”
Ladanza Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $195.70 per u
In Moore Company’s flexible budget graph, the fixed cost line and the total budgeted cost line intersect the vertical axis at $90,150. The total budgeted cost line is $392,550 at an activity level of
Royal Financial Services (RFS) provides front end loan origination services for a number of banks who process and maintain loan portfolios. RFS accepts applications from customers and processes them t…
Write a short Memo to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for not-for-profit and governmental entities.
“””Defining and Identifying Relevant Information
Bob’s Burger is in the fast food restaurant business. One component of its marking strategy is to increase sales by expanding in foreign markets. It u…”
“You asked:
“”Which of the following is recorded in the cash payments journal?
adjusting entry for accrued salaries
receipt of cash on supplies returned
receipt of cash from services rendere”
“Garth Company sells a single product. If the selling price per unit and the variable expense per unit both increase by 15% and fixed expenses do not change, then:
Contribution Margin Pe”
“Problem 1 – Nancy Company has budgeted sales of $300,000 with the following budgeted costs:
Direct materials $60,000
Direc”
“For which of the following internal controls would an auditor be least likely to perform tests of internal controls closer to the “”as of”” date?
Withdrawals from Federal Bank of more than $5 millio”
On September 15, 20X2, Wall Company, a U.S. firm, purchased a piece of equipment from a foreign firm for 500,000 FCs. Payment for the equipment was to be made in FCs on January 15, 20X3. The spot rate…
Dustin and Penny are husband and wife and always have lived in Washington. At the time of Dustin’s prior death in 2009, he was insured in the amount of $600,000 with Penny as the designated beneficiar
“36. Accrued salaries payable of $51,000 were not recorded at December 31, 2007. Office supplies on hand of $24,000 at December 31, 2008 were erroneously treated as expense instead of supplies inventor”
In October, Keane Company reports 21,450 actual direct labor hours, and it incurs $114,400 of manufacturing overhead costs. Standard hours allowed for the work done is 20,400 hours. The predetermined
ramsgate company has used the fifo method for invetory valuation since it began business in 2005, but has elected to change to the average cost method starting in 2008. year-end inventory valuations u
see the attachement Business transactions completed by Alanna Emitt during the month of September are as follows: a. Emitt invested $86,000 cash along with office equipment valued at $22,000 in exchan…
On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would A.increase a liability account B….
Emu Company, which was formed in 2010, had operating income of $200,000 and operating expenses of $120,000 in 2010. In addition, Emu had a long-term capital loss of $10,000. How does Andrew, the owner
Haden Inc. had cash sales of $300,000 and credit sales of $1,050,000. The accounts receivable balance increased $15,000 during the year. How much cash did Haden receive from its customers during the y
“Session 7
Which of the following items affect free cash flows to debt and equity holders? Which affect free cash flows to equity alone? Explain why and how.
All answers assume”
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a 700-1050-word letter that explains how you plan to begin the
Target Cost of Proposed New Product Timberland is considering manufacturing special crates to be used for shipping new mainframe computers. The company is working with a computer manufacturer who is t…
The company is currently selling 5,000 units per month. Fixed expenses are $243,000 per month. The marketing manager believes that an $11,000 increase in the monthly advertising budget would result in
mes, Adam and David each contribute $10,000 cash to form a general partnership to make and sell pies, and agree to share profits and losses equally. The partnership uses $10,000 to purchase needed equ
Managerial Accounting Please see attached 1) Customers that require a low price and lots of customized service are: A) high cost to serve and low margin. (I believe this is the answer) B) low cost to …
“Dear Michael,
What seems to be a problem? When would you be able to complete it?
Thanks!”
“Derrick Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 6%, compounded annually. (Hint: Use tables in text.)
If Lee plans to establ”
“11
Denney Company incurs these expenditures in purchasing a truck: cash price $17,557; accident insurance (during use) $1,605; sales taxes $1,585; motor vehicle license $258; and painting and lette”
Bath Designs Practice Set with Klooster & Allen Software
Classical variables sampling. Which of the following statistical sampling approaches is most appropriate? Classical variables sampling. B. Monetary-unit sampling. C. Stop or go sampling. D.
“Pooling vs. Purchase Accounting
You are analyzing the financial statements of ABC Corp. at the end of fiscal 2005. You notice that during the year they made a major acquisition. Nowhere”
“Budget 09 Actual 09
Direct material used 2000000 1900000
direct manufacturing labor cost 1500000 1450000
manufacturing OH cost 270″
A company can sell all the units it can produce of either Product A or Product B but not both. Product A has a unit contribution margin of $16 and takes two machine hours to make and Product B has a u
“Sam, a single individual with a salary of $40,000, paid the following expenses during the year:
Alimony: $8,000
Charitable contributions: $2,000
Casualty loss (after $100 floor): $1,000
Mortgage i”
“10.8
On March 31, 2011, Gardner Corporation received authorization to issue $ 50,000 of 9 percent, 30- year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was”
E3-2, E 3-5, P3-4, P3-5 Confirming Pages LEARNING OBJECTIVES After studying this chapter, you should be able to: 1. Describe a typical business operating cycle and explain the necessity for the time p…
“””I would like to get the solutions for the case BIG AL’S PIZZA, on the book”” managerial accounting: a focus on ethical decision making”” 5e edition by Jackson,sawyers, Jenkins.
it is located on page 5″
The following is a list of various costs incurred in producing toy robotic helicopters. With respect to the production and sale of these toy helicopters, classify each cost as either variable, fixed,
Russell Corporation sells three different models of mosquito “zapper.” Model A12 sells for $56 and has variable costs of $37. Model B22 sells for $106 and has variable costs of $73. Model C124 sells f
Krauss Leasing Company signs a lease agreement on January 1, 2011, to lease electronic equipment to Stewart Company. The term of the non-cancelable lease is 2 years, and payments are required at the e
“The Chesapeake City Council approved and adopted its budget for FY 2008. The budget contained the following amounts:
Estimated Revenues $900,000
Appropriations”
Cost Benefit analysis is just “nonsense on silts”. Discuss this view with particular emphasis on the relevance of CBA to the personnal specialist.
Prepare your solution in an MS Excel Workbook with one Worksheet devoted to each question. Each worksheet should contain the answers to only one question. Name the bottom tab of each worksheet accordi…
Andrew transferred an office building that had an adjusted basis of $180,000 and a fair market value of $350,000 to Dickens Corporation in exchange for 80% of Dickens’ only class of stock. The buildin
Plz solve –~- r ;~" .~ ! ! Allied Office Products This case is set in the businessorms businessin 1992 in a company that augmentsits f "commodity" products with value-addeddistribution…
“have three free questions for today and below is multiple choice
Which of the following is not a manufacturing cost?
Manufacturing overhead
Direct materials
Direct labor
Ad”
“Classify each of these items as an asset (A), liability (L), or stockholders’ equity (SE).
_____ Accounts receivable
_____ Accounts payable
_____ Common stock
_____ Office supplies…”
List five other red flags that astute analyst might look for, why it is a red flag, and identify where the analyst might find this information.
“1. A record that contains all accounts (with amounts) of a company is the:
General ledger
General journal
Special ledger
Special journal
Column balance ledger
Assume that a”
Five years ago, Tom loaned his son John $20,000 to start a business. A note was executed with an interest rate of 8%, which is the Federal rate. The note required monthly payments of the interest with
“1.From the following accounts, prepare in proper form a post-closing trial balance for Morris Company on December 31.
Accounts Receivable $2,200
Accounts Payable 2,000
Cash 1,000
Salaries Payable”
Financial accounting question has been attached as a scanned attachment .jpg file
“multiple choice-have three free questions for today
The range of activity for which estimates of cost behavior are likely to be accurate is the
incremental range
margin of s”
Please finish the 3 questions i ve uploaded 2. On June 30th the company has a credit balance of $27,275 in its allowance for doubtful accounts. An evaluation of accounts receivable indicates that the …
“Use the following information to solve the Questions 1 and 2 below:
Below is selected data for Gertup Corporation as of 12/31/02:
Total assets: $ 5,500
Current assets: $ 2,750
Long-term deb”
At December 31, Penny Corporation has total stockholders’ equity of $5,500,000. There are no shares of preferred stock outstanding.At year-end, 250,000 shares of common stock are outstandi…
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest rev
“A business receives a cash payment for services rendered. Which of the following occurs?
(a)an asset is debited and a revenue account is credited.
(B) an asset is debited and a revenue account is de”
Smith Corporation has earned a return on capital of 10% for the past two years, but an investment analyst reviewing the company had stated the company is not creating shareholder value. This may be du
“) Landon Corporation has issued 2,000 shares of common stock and 400 shares of preferred stock for a lump sum of $72,000 cash.
Instructions
Give the entry for the issuance assuming the par va”
“Fleet’s is a retail store with several departments. Its internal control procedures for cash and purchases are as follows:
Cash sales. The sales clerk is each department rings up every cash sale o…”
Cost allocations have to make sense. What drives consumption of costs? What are drivers and how do they help in the allocation process?
“1.
(Points: 1)
The cash budget must be prepared before you can complete the:
production budget.
budgeted balance sheet.
raw materials purchases budget.
schedule of cash disbur”
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $4,000,000 on March 1, $3,300,000 on June 1, and $5,000,000 on De
SAC has developed revolutionary manufacturing techniques utilizing its new spark plug manufacturing technology to offer special-order spark plugs for the auto racing industry. The company is currently
“Heather is a full time employee of the Drake Company and participates in the company’s flexible spending plan that is available to all employees. Which of the following is correct?
Heather reduc”
“Determine the cost of a job: E-Z Boy started and finished Job 310 during April. The company’s records show that the following direct materials were requisitioned for Job 310:
Lumber: 50 units @”
Connie has some acreage that is valued at $1,500,000. Her daughter would like to build a home on it, but can only afford $500,000. Connie agrees to sell it to her daughter for $500,000. Is there an
“Part 1 (40 points)
Primary Task Response: Within the Discussion Board area, write up to 3 paragraphs that respond to the following questions with your thoughts, ideas, and comments. This will be th”
“13
Firefly Company had the following two transactions related to its delivery truck.
Paid $66 for an oil change.
Paid $438 to install special shelving units, which increase the operating”
Explain how analytical and inferential tools can aid in the evaluation of accounting evidence. If you use references please write them down.
On January, 1, 2010, Piper Company acquired an 80% interest in Sand Company for $2,276,000. At that time the capital stock and retained earnings of Sand Company were $1,800,000 and $700,000, respecti
“WHO LOST THIS $300,000?
Several years ago, Penston Company purchased 90 percent of the outstanding shares of Swansan Corporation. Penston made the acquisition because Swansan produced a vital compo”
“Under the Negotiable Instruments Article of the UCC, which of the following requirements must be met for a person to be a holder in due course of a promissory note?
All prior holders must hav”
“Apachi Company ended its fiscal year on July 31, 2008. The company’s adjusted trial
balance as of the end of its fiscal year is as shown at the top of page 179.(a) Prepare the closing entries using…”
Part of the the CFO organization’s responsibilities is to assess the operational, market and other risks the firm is facing. Other than satisfying the SEC’s full disclosure requirement, why is it impo
“Units Unit Cost
January 1, 2011 1,600 $18.00
(beginning inventory)
Purchases:
January 5, 2011 2,600 $20.00
January 25, 2011 2,400 $21.00″
When shares of stock are sold, which account in the general ledger does the amount get entered in
please answer question case 9.2. the pdf file is too big to send; however it is uploaded to acrobat and I can share the file.
“9.5B
A recent annual report of H. J. Heinz Company includes the following note: Depreciation: For financial reporting purposes, depreciation is provided on the straight- line method over the estima”
“Journalize the following selected transactions completed during the current fiscal year:
Jan 3: The board of directors reduced the par of common shares from $100 to $20. This action increased the num”
“8. Qualified deferred compensation plans have the following characteristics except:
Taxation of earnings is postponed.
Employee taxation occurs when payment is received.”
“E9-5 (Lower-of-Cost-or-Market—Valuation Account) Presented below is information related to Knight Enterprises.
31 Feb. 28 Mar. 31 Apr. 30
Inventory at cost …”
A taxpayer suffers a casualty loss on personal use property for which he has insurance coverage. However, to avoid a premium adjustment, the taxpayer fails to make a timely claim. In this situation is
Ace company’s net income for the year is $4 million and the number of common shares outstanding is 3 million (there is no change in shares outstanding during the year). Ace has options and warrants ou
“: Response to Client Request II
Your client is being sued. You have asked the client’s lawyer about the possibility of losing the lawsuit. The client, meanwhile, has asked you to describe what wo…”
“Intergrated case application-Pinnacle Manufacturing:Part V(5). And Part VI(6).
I need chapter 16-35, Notes to 16-35, Part VI parts d, e, f, and g solutions.Please.”
“1. Alpha, Inc. a U.S. company had a receivable from a customer that was denominated in pesos. On December 31, 2008, this receivable for 75,000 pesos was correctly included in Alpha’s balance sheet …”
“Given the information computer the ratios (assume year end balance approx annual average)
Return on Assets
Return on Stockholders Equity
Debt to Asset Ratio
2007 (,000)
Current Liabi”
“A major control available in a small company, which might not be feasible in a large company is,
a wider segregation of duties
a voucher system
fewer transaction to process
the owner’s”
“Below are listed various costs that are incurred by various business entities:
Commissions paid to Avon representatives
Recurring advertising costs by a physician’s office
The cost of hardware in”
What are the costs and benefits of stringent credit collection policies?
“Find the latest 10k of Domino’s pizza and please answer the following: Compute the company’s receivable turnover for the last two years and explain its meaning. Should they do better?”
“3. The PEG ratio (Points : 10)
measures the ability of a firm’s assets to generate growth for the firm.
compares the price/earnings ratio to the rate of growth of the company’s earnin”
Harold is a 25 percent partner in HDT Partnership. At the beginning of the year, his partnership interest basis was $12,000. The partnership had net income of $58,000 for the year and it made an $8,00
“One of the accounting concepts upon which adjustments for prepayments and accruals are based is
monetary unit.
economic entity.
Thank you!”
Henry Hawkins owns 20 percent interest in the HI Partnership. On July 1 he sold 100 shares of stock of IPR Corporation to the partnership for $10,000, its fair market value. The stock had cost him $5,
“The ledger of Swann Company contains the following balances: Retained Earnings
$30,000; Dividends $2,000; Service Revenue $50,000; Salaries Expense $27,000; and Supplies
Expense $4,000. Prepare the”
Which of the following would most likely be included as part of manufacturing overhead in the production of a wooden table
what characteristic of expenditure distinguish them from expenses in the financial accounting sense?
hello, read the computer concept case then answer just 3 question which are 1, 8, 9
“It is not enough to simply provide a citation for your answer, since I want to give you as much credit for your work as I can. Instead, write down your “Research Trail”; that is, tell me all the data
“3) Mountain Brook Company is considering two investment opportunities whose cash flows are provided below:
Year Investment A Investment B
Year 0 ($15,000) ($9,000)
Year 1 5,000 5,000
Year 2 5,”
“Please help with this HW question
Micronet Corp. reported in its anual report software refinement expenses of $12 million, $15 million, and $18 million respectively for fical years 2007, 2008, 2009″
“Deferred Income taxes
In 2007, the initial year of its existence, Gibson Company’s accountant, in preparing both the income statement and the tax return, developed the following list of items caus…”
The company I was looking at was The Maridith Corporation attached is the information I could find. EX-99 2 fy11q1ex99er.htm EXH 99 – PRESS RELEASE FY11 Q1 MEREDITH REPORTS STRONG FISCAL 2011 FIRST QU…
“o Is the Six Sigma and its improvement methodology appropriate for all organizations? Why or why not? Defend your position.
o”
“Tracey is a sales representative for a national pharmaceutical company. She has a
rather large sales territory, and she makes her rounds to her customers using a
company-owned car over a 16- to 19-h”
. Marina, Inc., held 1,500 of Navia common stock with a cost of $36,900. These shares were classified as a long-term available-for-sale investment. It sold the shares on December 13 for $42,100. Prepa
“Sale of Assets Received as a Gift and Inherited. Daniel receives 400 shares of A&M
Corporation stock from his aunt on May 20, 2009, as a gift when the stock has a $60,000
His aunt purchased the”
I would like to know why I would have to pay. I should get 3 free questions a day and I haven’t gotten any questions answered yet. This is starting to sound like a scam to me.
How much for the Smackey Dog Foods, Inc – Scenario Summary under ABU DHABI University ACCT 550 ?
“Due to its experience rating, Ianelli, Inc, is required to pay unemployment taxes on its payroll as fallows:
Under SUTA for Illinois on taxable payroll of $18,000, the contribution rate is 4%.
“
“7. If a shareholder does not have sufficient stock basis to deduct his or her share of an S corporation’s losses and deductible items, what are the tax consequences? (Points : 3)
The exces”
To answer the questions you will need to download Netflix’s Form 10-k for the year ended December 31, 2005 at www.sec.gov/edgar/searcjedgar/companysearch.html. Once at this website, input CIK code 1…
“Frank, a cash basis taxpayer, incorporates his sole proprietorship. He transfers the follwoing to New Corp in exchange for 100% of the corporation’s stock (value $185,000), and $40,000 in cash.
Ot”
Larry Corporation purchased a new precision casting machine for its manufacturing facility. The machine cost $2 million, and another $150,000 was spent on installation. The machine was placed in servi
It is common for an entity to have transactions with related entities – some of which are fully owned, some of which share common ownership, but are not otherwise related, and others where ownership…
ELABROLATE ON THE CONCEPT OF COMPOUNDING.DISCUSS HOW TO CALCULATE THE NET PRESENT VALUE,AND THE SIGNIFICANCE OF THE INDICATION FOR DECISION MAKING.
“Which of the following tests of controls most likely would help assure an auditor that goods ahipped are properly billed?
A)scan the sales journal for sequental and unusual entries
examine shipp”
In 2010, emily invests $100,000 in a limted partership that is not a passive activity. During 2010, her share of partnership loss is $70,000. In 2011, her share of the partnership loss is $50,000. How
There is a remedy for the assignment I’m paying $60 for you to complete. Instead of working out the problem, you may go into my portal. www.devryu.net Log in is d02799491, pwd is tanajsiamason18 The p…
“Income statements for three companies are provided below:
Company A Company B Company C
Sales (10 units) $600 $600 $600
Less variable costs $400″
Canyon Realty Co. pays weekly salaries of $12,000 on Friday for a five day week ending on that day, What is the adjustment at the end of the accounting period, assuming that the period ends on Tuesda
“This following question has to do with federal taxation:
Ricky has a NLTCG of $40,000 and a NSTCL of $50,000. What is Ricky’s 2008 capital loss deduction if Ricky’s adjusted gross income for 200″
a company acquires a rather large investment in another corporation. What criteria determine whether the investor should apply the equity method of accounting to this investment? Who has a current ac
On January 1, 2011, Piper Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10%…
“Brass Works, Inc. produces brass lamps and gift products. Engineers at Brass Works have established the following direct labor standards to produce a brass candelabra:
Direct Labor Standard: 2″
“Use the following to answer questions 16-20:
Justin’s Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventor”
if fixed costs are $1,500,000, the unit selling price is $250, and the unit variable costs are $130, what is the amount of sales required to realize an operating income of $200,000
“Financial statement ratios support informed judgment and decision making most effectively:”
“This is accounting
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There are 2 problem and can you answer all of required for each problem ?”
“1. The City of Springfield has three pension plans: a locally administered police plan for which it is trustee, a statewide cost sharing plan, and a statewide agency plan. The City would include in i”
T /F The benefits paid to retirees tend to reduce the plan’s assets and the service cost for the year. If false please explain.
Explain the purpose of and method of depreciation for partial years.
A firm purchased 25 units of materials with a unit price of $2.00 on May 5. On may 15, the firm purchased 25 units with a unit price of $2.10. If the firm uses FIFO method of inventory pricing, the
High Fidelity Audio Inc. reported sales of $8,000,000 for the month and incurred variable expenses totaling $5,600,000 and fixed expenses totaling $1,440,000. The company has no beginning or ending
“1. As mergers, acquisitions, and restructuring have increased in importance, agency theory has become more important in assessing whether
a stock repurchase should be undertaken.
shareholder”
What are the performance monitoring and bonus payment systems of McDonald’s Corp? Please provide references.
“In this module, we are going to have our first application to that project. Identify any activity in your organization (USAA) where you can apply breakeven analysis. You must be able to define:
A”
“3. The accumulated adjustment account: (Points : 3)
is a shareholder account.
can be reduced below zero by an excess distribution.
determines when there is a tax-free”
Letter Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company
“As the capital budgeting director for Denver Corporation, you are evaluating two mutually exclusive projects with the following net cash flows:
Year Cash Flow Cash Flo”
Need help on REVERSING ENTRIES ACCOUNTING INSTRUCTIONS: 1. CheckPoint: Reversing Entries 2. Post your answers to BE4-12 on p. 176 of Financial Accounting. 3. Please provide an explanation ASSIGNMENT: …
“To test the accuracy of the current year’s depreciation charges, an auditor should rely most heavily on
Vouching of the current year’s fixed asset acquisitions.
Comparison of depreciation sche”
“Camus Blalack, process engineer, knew that the acceptance of a new process
design would depend on its economic feasibility. The new process design
required new equipment and an infusion of working c”
John forms a corporation and transfers property having a basis to him of $18,000 and a fair market value of $26,000 to the corporation for 1,000 shares of $10 par stock. One year later, Hal transfers
30 multiple questions. cost accounting 1. The following information relates to a product produced by Ashland Company: Fixed selling costs are $1,000,000 per year. Variable selling costs of $4 per unit…
“Q – What is partial productivity measure?
A – It compares the quantity of output produced with the quantity of an individual input used.
Instructor’s Q – So what does the corresponding ra…”
Rica’s Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pair of shoes are boxed individually, they are crated and shipped in batches. the shipping dept records both va
Holly and Marcus formed a partnership. Holly received a 50% interest in partnership capital and profits in exchange for contributing land (basis of $20,000 and a fair market value of $100,000). Marcus
“Find true statement(s):
When calculating return on total equity, it is normal to add back preferred dividends to
net income.
If a company increases its operating leverage, then its break”
“WITH THE INFORMATION I GAVE EARLIER, PLEASE LET ME KNOW IF YOU CAN GO IN AND COMPLETE THE FOLLOWING
DEVRYU.NET
LOG IN – d02799491
password-tanajsiamason18
Course (scroll down to Financial Acco”
Crick Corporation makes 11,000 units of part W28 each year. This part is used in one of the company’s products. The company’s Accounting Department reports the following costs of producing the part at
“Jack Jones, age 35, is single and has no dependents. At the beginning of 2009, Jack started his own excavation business and operated the business as a sole-proprietor.
During all of 2009, Jack had”
Elliot’s Escargots sells commercial and home snail extraction tools and serving pieces. Currently, the snail extraction line of products takes up approximately 50 percent of the company’s retail f…
If I have 10000 shares common stock and declared and paid $2 per share dividend on common stock how would I record the payment of these dividends
Describe the two-stage process associated with plantwide overhead rates?
“The following information concerns two business units within an organization:
Division A currently sells its product to outside parties at a price of $20 per unit. It incurs variable costs of $7 p”
Explain why professional skepticism may be difficult for auditors to fully implement on every audit.
“What would the effect have been on the audit procedures and sample sizes?
1)assessed control risk had been high rather than low for each transaction-related audit object
inherent risk was high fo”
“10. MC030
(Points: 5)
On June 1, 2006, Walsh Company sold some equipment to Fischer Company. The two companies entered into an installment sales contract at a rate of 8%. The contract required”
“Management should use the statement of cash flows for which of the following purposes ?
Determine the financial position.
Determine cash flow from investing activities.
Determine t”
“Pat’s Custom Tuxedo Shop maintains its records on the cash basis. During this past year
Pat’s collected $42,000 in tailoring fees, and paid $14,000 in expenses. Depreciation expense
totaled $2,000.”
“Dec. 14 Pay Russell’s estate (employee died) $1425.16. show deduction of 8.70 for Group insurance.
18 wrote check to Russell’s estate from regular cash account for amount withheld from insurance”
“4. Sims Company is in the electronics industry and the price it pays for inventory is decreasing. (1 Point) Indicate which inventory method will:
provide the highest ending inventory. b. provid”
“Which of the following is recorded by a credit to Accounts receivable? (Points : 1)
Sale of inventory on account.
Estimating the annual allowance for doubtful accounts.
Estimatin”
“The equity section of Foley Corporation at December 31, 2010, included the following:
5% preference shares, $100 par value, cumulative,
10,000 shares authorized, 8,000 shares issued and outstandin”
“E2-15A
(Learning Objective 1: Analyzing transactions) The following selected events were experienced by either Solution Seekers, Inc., a corporation, or Paul Flynn, the major stockholder. State whet”
will adoption of a different inventory cost flow assumption for different types of goods or merchandise violate the consistency principle? explain the consistency principle
“All of the following are items that would most likely be paid from a petty cash fund except:
freight-out.
postage due.
taxi fares.
administrative wages
Thank you!”
Is anyone able to answer the question above. I have templates for each question. SALES JOURNAL POST INVOICE DATE NO. Page No. 6 ACCOUNT DEBITED ACCTS. REC. DR. COST OF SALE DR. REF SALES CR. INVENTORY…
“Kiser company reports the following for the month of June.
Date Explanantion units unitscost totalcost
june 1 inventory 125 $5 $625
June 12 Purhase 375″
having problems with advanced accounting can you help 1. Picasso Co. issued 10,000 shares of its $1 par common stock, valued at $400,000, to acquire shares of Bull Company in an all-stock transaction….
Gardner Corporation purchased a truck at the beginning of 2012 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles. It was driven 18,000 miles
Another area that CFO supervises directly is the life insurance. What are the primary considerations related to a company’s life insurance offering?
On October 29 of the current year, a company concluded that a customer’s $4,400 account receivable was uncollectible and that the account should be written off. What effect will this write-off have on…
“Which of the following is considered to be a recurring item ?
Discontinued operations
Extraordinary items
Cumulative effect of change in accounting principle
Interest expens”
“1. pete parlor started business january 1,2010. on that day the company issued common stock in exchange for $45,000. prepare the journal entry for this transaction.
pete parlor started business jan”
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings mad
A manufacturing company prepays its insurance coverage for a three-year period. The premium for three years is $2,700 and is paid at the beginning of the first year. 80% of the premium applies to the …
“the following information pertains to Kane Co.s defined pension plan for 2008: cost
Pension Asset/Liablility Jan 1 2,000dr
service cost 19,000
interest cost 38,000
actural return”
McCarty Pointers Corporation expects to begin operations on January 1, 2012; it will operate as a specialty sales company that sells laser pointers over the Internet. McCarty expects sales in Januar
“USE ANSWER SHEET ON LAST PAGE TO RECORD YOUR ANSWERS
(True or False)
All business owners are personally liable for the debts of their businesses.
Generally accepted accounting principles,”
“Transfer Pricing
MuniCorp is a decentralized company that rewards division managers based on ROI. The City Division produces a component that is used by the County Division. City’s unit cost …”
Pick any company below and provide the following information: Select: P2 Liquidity ratio, 3 profitability ratios and 2 Solvency Ratios Companies: Coca cola Pepsico FedEx Verizon UPS Starbucks Answer t…
“MGT 325 Module 5 Spreadsheet Exam – this is one long problem or case study. Please show all of your work.
Please place your answers to each question in each part in the outlined boxes in the ye”
“1)Prepare materiality memo 1/4/2011 p48/146
2)Prepare planning impact 1/6/2011 p50/146
3)Prepare Cash AWP p66/146
4)Prepare AR AWP p73/146
5)Prepare Payroll AWP p123/146
6)Prepare Inventory AWP p”
Attached homework problems in word document, I have a due date of September 25th at 11pm. Please let me know if this is ample time to complete. Problem I ABC Company finally decides to sell its buggy …
On 1 July 2009, Engineering Ltd purchased land $1,200,000 and buildings $500,000. The estimated useful life of the buildings was 40 years, with a residual value of nil. On 1 October 2009, machinery wa…
“ACCT390 Test 3 Fall 2010A
Student: _______________________________________
(15 pts) Quinta Inc. manufactures machine parts for aircraft engines. The CEO is considering an offer from a subcontract”
“An AICPA committee in 1986 broke forensic accounting into two broad areas: investigative accounting and litigation support.
(Points: 2)
True
False
Consulting standards may app”
ACCT 613 Fall semester 2010 Entity Tax Case The Rite-Way Plumbing Co. began business March 1, 2006 in Sarasota. Its business address is 124 Division Lane, Sarasota, FL 33645. Its employer identificati…
Foundations of Accounting I Accounting Project Karen Pitsch NOTE: beginning balance in the original information for the students is different than the grading copy. For instance the beginning balance …
how can forensic investigators determine whether money laundering is occurring in a charity program?
“**Problem:
An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transac”
Gene purchases land five years ago as an investment. The land cost him $200,000 and is now worth $530,000. Gene plans to transfer the land to Dee Corporation, which will subdivide the land and sell
“Presented below are some business transactions that occurred during 2008 for Vicki
Prowitz Company.
Merchandise inventory with a cost of $208,000 is reported at its market value of
$260,000.The”
Attached is the problem, use it for your response. Please show how you get each calculation so I can understand the concept. Thank you. Silver Company sponsors a defined benefit pension plan. The foll…
Natalie is cShe buys five mixers on account from kzinki Supply Co. for $2,875, terms n/30.
As a newly minted CPA, you obtain your first significant position as a tax professional: Senior Tax Accountant for one of the offices of a regional accounting firm. Of course, the firm runs a notice o
“1. Melissa Wimberley sold 100 shares of ABC stock with an adjusted basis of $1,000 for $2,000. She also sold 500 shares of XYZ stock with an adjusted basis of $20,000 for $12,000. She had no other sal”
Read ATC 9-3 in Chapter 9 and post your analysis of Whirlpool’s acquisition of Maytag.
The standard cost of product 2525 includes 1.83 hours of direct labor at $13.90 per hour. The predetermined overhead rate is $20.60 per direct labor hour. During July, the company incurred 4,260 hours…
“Do you agree with the notion of value costing for the 21st Century organizations. Why or Why Not?
Why types of situations may be more appropriate for application of the some of the “”tried and true”””
“Briefly explain and discuss the following:
How is the assumption of liability by transferee from property given by transferor treated by the transferor in a like-kind exchange. Also explain whe”
“At December 31,2010,Burr coporation owes $500,000 on a note payable due February 15,2011.
If Burr refinances the obligation by issueing a long term note on February 14 and using the proceeds to pay”
PART 1 – There are a number of interesting differences between Sunbeam’s 1997 and 1996 balance sheets (e.g., receivables increased by $82 million, inventories increased by $94 million, and pre-paid ex
“The current sections of Leach Inc.’s balance sheets at December 31, 2010 and 2011, are presented here.
Leach’s net income for 2011 was $152,580. Depreciation expense was $24,220.
2011 2010
C”
“1. When using the cost recovery method of accounting for long-term contracts under IFRS, early in the life of the contract it is typically the case that:
Expenses in excess of revenues are reco”
Please see attached Mixed Cost, Choosing Cost Drivers, and High-Low and Visual-Fit Methods Cedar Rapids Implements Company produces farm implements. Cedar Rapids is in the process of measuring its man…
“16. Xtra Company purchased goodwill from Argus for $144,000. Argus had developed the goodwill over 6 years. How much would Xtra amortize the goodwill for its first year?
$8,640
$24,000
Go”
“Section 55 of the Principles of Professional Conduct of the AICPA states that
a member should maintain objectivity and be free of conflicts of interest in discharging professional responsibil”
Global, Inc., owns a delivery truck which initially cost $30,000. After depreciation of $15,000 had been deducted, the truck was traded-in on a new truck that cost $60,000. Global was required to pa
vision enterprises manufactures converter boxes for high definition tvs. all processing is initiated when an order is recieved. for march there were no beginning inventories. conversion costs and dire
“At December 31, 2010 the following balances existed on the books of Foxworth Corporation:
Bonds Payable $2,000,000
Discount on Bonds Payable 160,000
Interest Payable”
“Ulmer Company is considering the following alternatives:
Issue 8% bonds at face value
Issue preffered $1 stock, $15 per share
Issue common stock, $10 par
Plan 1
$2,000,000
—
2,000,000″
“Chapter 20 Discussion Question 7
Rose Corporation stock is owned 85% by Pheasant Corporation and 15% by Crystal. In a liquidation subject to section 332, Rose distributes assets to Pheasant and Crys”
Crone Enterprises uses a word processing computer to handle its sales invoices.Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up wit…
Notes or accounts receivables that result from sales transactions are often called a. sales receivables. b. non-trade receivables. c. trade receivables. d. merchandise receivables. 2. The term “rec…
Floyd Industries stock has a beta of 1.80. The company just paid a dividend of $0.65, and the dividends are expected to grow at 7 percent. The expected return of the market is 15 percent, and Treasu
“Quality of Earnings
SE 1
Each of the items listed below is a quality of earnings issue. Indicated whether the items is
An accounting method
An accounting estimate
An operating item.”
“””Determine the basis of stock in the hands of the shareholder in each of the following instances, Assume that the 80% rule is met in all cases.
contribution of property with a basis of $1,000 and”
“2. The S corporation income tax return includes all of the following except: (Points : 3)
a Schedule K.
an M-1 Schedule.
a retained earnings reconciliation.
“
“3) Aspen company produces widgets. August production and costs are:
Widgets produced 80,000
Direct material (variable) $20,000
Direct labor (variable) 40,000
Supplies (varia”
“Q – Describe three features of a good balance scoreboard.
A – 1. It communicates the strategy to all members of the organization by translating strategy into a coherent and linked set of measurab…”
On August 1, 2010, the board of directors of Howell declared a 15% stock dividend on common stock, to be distributed on September 15th. The market price of Howell’s common stock was $35 on August 1, 2
Kubicki, Inc. operates a chain of designer bags and shoe stores in the Houston area. This year the company achieved annual sales of $75 million, on which it earned a net income of $3 million. At the b
“17. What are the differences between accounting and reporting for VHWOs and ONPOs? Does it matter if they are government or non-government entities?
SFAS No. 117 requires that net assets be r”
Which citation is considered to be a legislative citation?
Please refer to attachment. – Adjust Sunbeam’s 1997 Earning before interest and taxes for one-time events and apparent changes in accounting policy. You may want to compute some comparative ratios to …
“Develop a brief answer to each of the following questions:
Can a company have a “”negative”” financing period?
If you sold goods to a company in Europe and the exchange rate for the dollar …”
“Expected payments for direct materials will be listed in the __________ section of a cash budget.
cash investments
financing
cash disbursem*nts
cash receipts
Thank you!!!”
Sampson Company uses a job order cost system with overhead applied to products based on direct labor hours. Based on previous history, the company estimated its total overhead for the coming year (200…
“Part 1 Gross Profit Method
Horton, Inc. suffered an inventory loss due to a flood. The following information is available to you.
Beginning inventory $100,000
Net purchase 400,000
Sales 400,00″
“FORM 1040 —” U.S. INDIVIDUAL INCOME TAX RETURN
Assume that the taxpayers, George A. Warden (social security number 333-33-3330) and Mary S. Warden (social security
number 444-44-4440) fi le a …”
“Drake Company purchased materials on account. The entry to record the purchase of materials having a standard cost of $1.50 per pound from a supplier at $1.60 per pound would include a:
credit”
“A
Required:
What type of center is the Charlotte facility? Would you characterize it as an investment center, profit center, revenue center or cost center? Give specific reasons why you chose y”
“32. Compute marie’s taxable income for 2009, assuming she is single and claims two dependent children. Her adjusted gross income
is 70,000, and she has itemized deductions of 9,000.”
“On June 30, the board of directors of Sandals, Inc., declares a 2-for-1 stock split on its 20,000, $1 par, common stock. The market price of Sandals common stock is $25 on June 30.
What are the nu”
Iwasaki Inc. is considering whether to continue to make a component or to buy it from an outside supplier. The company uses 14,200 of the components each year. The unit product cost of the component a…
“24
Hilman University sells 5,786 season basketball tickets at $65 each for its 10-game home schedule. Give the entry to (a) record the sale of the season tickets and (b) the revenue earned by playi”
“There is however one key reason that this is necessary within our financial statements based upon our (most common) account method (the way we report revenues and expenses).
What is that basic reas”
What is push-down accounting? Under what conditions is push-down accounting appropriate? What happens to the differential when push-down accounting is used following a business combination?
Attached Problem #1 ( 25 points ) A corporation had stockholders’ equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in…
The preferred stock of the Clarence Radiology Company has a par value of $100 and a $9 dividend rate. You require an 11 percent rate of return on this stock. What is the maximum price you would pay fo
C:9-66.Yee manages Huang real estate, a partnership in which she is also a partner. She receives 40% of all partnership income before guaranteed payments, but no less than $80,000 per year. In the cur…
What are two questionsthat an owner might be able to answer by looking at accounting information?
“Answer the following questions using the information below:
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year”
case 13-2 accounting infromation systems Fargo Publishing
16-16. ADK Delivery is a small company that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves packages to and from a central depot wi
“The Defiance College sells season tickets for four home football games at a price of $15. For the 2011 season, 5,000 season tickets were sold.
Write the journal entry or use the horizontal model to”
“When would a variance be labeled as favorable?
When standard costs are equal to actual costs
When standard costs are less than actual costs
When expected sales are greater than actual s”
“Purchase cutoff procedures should be designed to test that merchandise is included in the
inventory of the client company, if the company:
Has paid for the merchandise
Has physical posses”
The partners who own a Cohen Canoes Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Cohen Canoes Inc. The charter from the state of Ut
Does McDonadl’s Corp. have a website? Who owns the site and how is it hosted? Please provide references.
Why do we have and/or need a statement of cash flows?
Why is it important to consolidate financial statements? When should financial statements be consolidated? What are the pros and cons of consolidating financial statements? Include limitations, if any
Kota Toy Company manufactures lizard dolls in two departments, Molding and Hairification. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls that come out of the molds
A receiving department compares inventory items received with copies of purchase orders. The purchase orders list the name of the vendor and do not list the quantities of the material ordered. Using t
“Prepare in good form the journal entry to record each of the following transactions on the books of ABC.
Jan 10, 2009: ABC is incorporated by issuing $50,000 of common stock to each of the three o”
Green obtained 100% of Vega on January 1, 2006, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2006, Vega’s land was undervalued by $40,00
Can you help me with these following problems (attached)? 1. A production department has the following information regarding its direct material costs for the month: Beginning work in process inventor…
“11) ABC and XYZ Companies have the following sales, variable cost, and fixed cost.
ABC XYZ
Sales $50,000 $50,000
Variable Costs $10,000 $30,000
Fixed Costs $30,000 $10,0″
Swanson Corporation issued $8,400,000 of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on Mar
During June, 90,000 units were produced. The standard quantity of material allowed per unit was 2 pounds at a standard cost of $5 per pound. If there was an unfavorable quantity variance of $5,000…
“””Which of the following activities is most likely to be classified as value-added for a manufacturing company?
storing
ordering
inspecting
assembling
Which of the following”
Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it was completed in 3 hours by a person who worked for $14.00 per hour. What is the total labor cost variance for Jo
determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost.
Capalbo Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-ho…
“On January 1, 2005, Sauder Company purchased a building and machinery that have the following useful lives, salvage value and costs.
Building: 25-year estimated useful life, $4,000,000 cost, $400,000″
When Conoco Inc. of Houston, Texas, announced the CDN $7 billion acquisition of Gulf Canada Resources Limited of Calgary, Alberta, a large segment of the press release was devoted to outlining all of
On December 31, 2009 Berry Corporation sold some of its product to Flynn Company, accepting a 3%, four-year promissory note having a maturity value of $900,000 (interest payable annually on December 3
“The following information is available for Unique Globe, Inc., as of may3, 2010:
Cash on the books as of May 31 amounted to $43,784.16. cash on the bank statement for the same date was $53,451.46″
“Indicate whether a debit or credit decreases the normal balance of each of the following accounts.
Office Supplies- debit
Repair Service Revenue- debit
Interest Payable- debit
Accounts Receiva”
“8) Breakeven point using the contribution margin approach is calculated by:
Adding fixed and variable costs and dividing by the sales price per unit.
Subtracting variable costs from sales p”
“1. All of the following statements are correct except:
the short-run price needs to cover only the costs that vary in the short run.
the long-run price needs to cover both fixed and variable”
Shangra-La Company incurred $2,000,000 ($500,000 in 2011 and $1,500,000 in 2012) to develop a computer software product. $600,000 of this amount was expended before technological feasibility was
On January 5, 2008, Drabek Corporation received a charter granting the right to issue 5,000 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 50,000 shares of $5 par va
“The net income for the year ended December 31, 2011, for Tax Consultants INC. was $720,000. Additional information is as follows:
Capital expenditures $1,200,000
Depreciation on plant assets”
“Question 1
On April 1, 2003, Penny Corporation sells land to its 60%-owned subsidiary, Sahl
Corporation, at a $15,000 gain. The land is still held by Sahl on December 31, 2003.
What is the effect”
JRE Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000. JRE uses the percentage-of-completion method of revenue recognition.
this is the highest that I’m going for 15 multiple choice questions. Especially when I know it will only take a few minutes for the questioned to be answered.
“54. Partial Liquidation
Sweeney was the chairman of Sweeney, Inc., a large hardware and lumber store. When Sweeney became ill, his son took over the business but sold the property and all the invento”
“Solve the following, show the steps for the final answer. 1. You have an opportunity to buy a $1,000 bond which matures in 10 years. The bond pays $30 every six months. The current market interest ra…
Wilson Co. purchased land as a factory site for $600,000. Wilson paid $60,000 to tear down two buildings on the land. Salvage was sold for $5,400. Legal fees of $3,480 were paid for title investigatio
Bailey Distributing Company sells small appliances to hardware stores in the southern California area.Michael Bailey, the president of the company, is thinking about changing the credit policies o…
False Value Hardware began 2009 with a credit balance of $32,000 in the allowance for sales return account. Sales and cash collections from customers during the year were $650,000 and $610,000 respec
Can the cost of hedging outweigh the benefit of it?
Missouri company has a current production capacity level of 200,000 units per month. At this level of production, variable costs are $0.50 per unit and fixed costs are $0.50 per unit. Current monthly
I have a project due with 3 Excel spreadsheet (I have the template) 12 month sales forecast, 12 month pro forma profit and loss, and start-up Expenses and 2 word documents (I have the template for the…
When the financial statements are prepared on the accrual basis of accounting, they included $48,500 in accounts receivable and $15,650 in accounts payable. Cliff then instructed his accountant to rec
“The advertising costs that Pepsi incurred to air its commercials during the Super Bowl can best be described as a:
a variable cost.
b fixed cost.
c product cost.
d prime cost.
Daguio Corp”
“Use figure 24.1 to compute Beta Corporation’s State F taxable income for the year.
Addition modifications 12,000
Allocated income (total) 15,000
Allocated income (State F) 5,000
Allocated …”
“1.
Direct material purchased and used, 80,000 gallons
Standard quantity of direct material allowed for May production, 76,000 gallons
Actual cost of direct materials purchased and used, $176,000
U”
“1) Which of the following documents is issued by the IRS to a specific taxpayer?
Revenue procedure
Regulation
Letter ruling
Information release
Which of”
Which of the following debt service funds would normally have the largest balance in its Fund balance account? A. Serial bond debt service fund. B. Deferred Serial bond debt service fund. C. Irregular…
Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000 with terms of 5/15 n/45. Payment was made within the discount period. Shipping costs were $4,600, which included $200 for in
“Long-term investments:
Answer
1)are current assets.
2)include funds earmarked for a special purpose such as bond sinking funds.
3)must be readily convertible to cash.
4)are expected to b”
“A general ledger of a company contains:
all the asset, liability, and stockholders’ equity accounts.
only stockholders’ equity accounts.
only asset and stockholders’ equity accounts.”
Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A & B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4, A6, B1, & B2 of Financial
Journalize the following entries on the books of the borrower and the creditor (i.e. 2 sets of entries are required). Label accordingly. (Assume a 360-day year is used for interest calculations.)
Goerge owns a sole proprietorship and Kevin is the sole shareholder of a C (regular) corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how
“16. LO.2 Pg 95 (Underapplied or overapplied overhead) At the end of 2010, Jackson Tank
Company’s accounts showed a $66,000 credit balance in Manufacturing Overhead Control. In addition, the compa…”
Is it possible for a company to come to an optimal capital structure?
A $50,000 bond issue with a carrying value of $47,000 is called at 102 and retired. The entry prepared would include
I have two problems that I couldn’t figure out. Can someone help me? Ch. 13 Help – 2 Problems 13-12) On the first day of its fiscal year, Ellis Company issued $12,000,000 of five-year, 10% bonds to …
“My paper is due tonite.
Sorry about the late assignment.
Please cancel this request.
Thank you.
I will try to submit questions earlier next time.”
What are some methods that aid management in analyzing the expected results of capital budgeting decisions?
“Which of the following cash flows is relevant in a decision about accepting Alternative X or Alternative Y? (Points : 2)
a cash inflow for Alternative X that is not a cash inflow for Alternat”
problems 4-5A and 4-6A. When responding to the analysis component of 4-5A, think critically about the possible errors that are described. In your answer, carefully analyze the worksheet as if the erro
I attached my question. • 1 ) • Which of the following statements is true regarding inventory transfers between a parent and its subsidiary, using the initial value method? (3pts) • The sale of …
“9) When supplies ordered by a governmental unit are received at an actual price which is more than the estimated price on the purchase order, the Encumbrance Control account is:
debited for”
“PROBLEM 3-1 Consolidated Workpaper: Two Cases
The two following separate cases show the financial position of a parent company and its
subsidiary company on November 30, 2011, just after the pare”
“23) When would a variance be labeled as favorable?
When expected sales are greater than actual sales
When actual costs are less than standard costs
When standard costs are e”
“*Cost Accounting*
Budgeted and actual selling and administrative costs – variable costs of $0.75 per unit sold. Fixed costs of $1500 dollars for the period.
*Budget Data –
Production budget (“
“Below is an example of an incorrectly prepared statement of cash flows. The descriptions of the activities are correct.
Cash from operating activities
Net Income $ 60,000
Depreciation (4,000)”
“The Rupina Company had the following Sales and Expenses during its first year of operations:
Purchases $50,000
Freight in $15,000
Sales $155,000
Advertising $25,000
Salaries – Sales staff $82…”
“S corps and partnerships are both pass through entities, but the pass through rules are NOT identical. What are the differences in terms of limitations due to basis?
There are THREE hurdles that mu”
“All of the following companies had significantly faulty accounting information in the past 10 years except __________.
0 Enron
0 Tyco
0 Xerox”
“Hello,
I’m attaching 3 questions. Can you possibly also send me the answers to my personal email address as well? Having troubles accessing your site on my home computer. I have another set of questi”
Recycled Plastics, Inc. manufactures a plastic dimensional lumber product from recycled plastic milk jugs. The company purchases consumer-recycled milk jugs in 700-pound bales and then shreds them int
“As the level of activity decreases within the relevant range__________
total fixed costs increase
fixed costs per unit decrease
total variable costs increase
variable costs per unit re”
“2. Assume that back in 1995 the British pound (£) is worth FF9.80 in Paris and SFr5.40 in Zurich. Swiss franc (SFr) is worth two French francs (FF). That is, S(FF/£) = FF9.80, S(SFr/£) = SFr5.40, a…”
merts mortors corporation has 2,000,000 authorizrd shares issued and outstanding. on june 30, 20xx, the board of directors declared a $0.20 per share cash dividend to be paid on August 1, 2010, to sha
Ground Parrot Company completely owns Heathlands Inc. On January 2, 2005 Ground Parrot sold Heathlands machinery at its book value of $30,000. Ground Parrot had the machinery two years before selling
Consider the production cost information for Santiago’s Salsa in Problem 1-1. The company is currently producing and selling 325,000 jars of sals annually. The jars sell for $5.00 each. The company i
“Bidden, Inc., a calendar year S corporation, incurred the following items.
Sales 130,000
Depreciation recapture income 12,000
Short-term capital gain 30,000
Cost of goods sold (42,000)
Muni”
Cedar Rapids Chemical placed 220,000 liters of direct materials into the mixing process. At the end of the month, 10,000 liters were still in process, 30% converted as to labor and factory overhead
Whicher Corporation had three products in its ending inventory at December 31, 2009. Whicher Corporation considers a profit margin of 15% of the sales price average for product 1 and a profit margin o
“2-48 CVP and Financial Statements for a Mega-Brand Company
Procter & Gamble Company is a Cincinnati-based company that produces household products under brand names such as Gillette, Bounty, Crest, F”
Almendarez Corporation is considering the purchase of a machine that would cost $320,000 and would last for 7 years. At the end of the 7 years, the machine would have a salvage value of $51,000. By re
“A controlling account can be found in the
general ledger.
source documents.
accounts receivable ledger.
income statement.
accounts payable ledger.”
“1. Martin Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1, 2009. Interest is payable each June 30 and December 31.
Prepare the general journal entry to recor”
“Company A and Company B have the same profit margin and the same total asset turnover, but company A has a higher return on equity. This may result from ____________
Company B has more common”
“1. Metco Inc. purchases a depreciable asset for $100,000.The life of the asset is 10 years and it has an estimated salvage value of $10,000.Metco Inc. takes a full year of depreciation expense…”
Integra Company expects to operate at 80% of its productive capacity of 52,000 units per month. At this planned level, the company expects to use 26,000 standard hours of direct labor. Overhead is all…
A deferred tax occurs when you have a difference between the amount owed on the financial statements from the amount shown as being owed on the tax return. T/F if false, please explain.
“1. Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) Analysis Paper (APA format)
Prepare a 500 to 700-word paper comparing and contrasting GASB and FASB a”
Which one of the following revenue recognition methods is not acceptable by GAAP? Explain why. (4 points) A. Sale with buyback B. Completed contract C. Completion of production D. Installment sale …
“Merchandise is sold for cash. The selling price of the merchandise is $3000 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include…
A debit to Ca”
“1. T F When reporting a change in accounting principle, you do not need to include an explanation of why the newly adopted principle is preferable.
T F An indirect effect related to a change i”
“Micron Technology is one of the leading producers of semiconductor components. The company’s actual data(in million of dollars) follow for it’s fiscal year ended september 1, 2005
===================”
A firm’s net income for the year was $200,000. Average assets totaled $1.5 million, and average liabilities totaled $0.3 million. Return on equity was
________________, ________________ , and ________________ have debit normal account balances whereas ________________, ________________, ________________, and ________________ have credit normal acco
“Which of the following is not a test primarily used to test property, plant and equipment accounts for overstatement?
Investigation of reductions in insurance coverage
Review of property ta”
“29. The material sale of inventory items by a parent company to an affiliated company
enters the consolidated revenue computation only if the transfer was the result of arm’s length bargaining.
b”
“Describe the internal controls that must be applied when taking a physical count of inventory.
Answer
Please 200 words”
“Journalize the entry to record the following selected transactions of Oliver Co.
a)Purchased $10,000 of Kruse Co. 8% bonds at 102 plus accrued interest of $2,000.
b)Received first semiannual inter”
“glenmore corp. purchased a fax machine at the beggining of 2007. the fax machine cost $1,000 and is expected to last five years. its salavage value is expected to be $50.
using straight-line deprec”
How is a consolidated statement of cash flows different from a traditional, single-entity statement of cash flows?
“The trial balance of the General Fund of the city of Claire on January 1, 20X0, was as follows:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15″
Please help me with this case problem. Don’t rush. Thank you. ACCOUNTING 203 ONLINE EXAM #3 (CH. 20) 75 PTS. Specific Course Outcomes Assessed: • (See the Course Syllabus) To understand the need f…
Dear Sir, Can the payment be $40 as I am on a budget. I could extend the date to 7th October so that you have more time. Thank you for your guidance Question Sireli Williamson and Arti Devi is a marri…
“4. The income statement of Wilcox, Inc. includes the items listed below:
Net sales $900,000 Gross profit $360,000
Beginning inventory 880,000 Purchase discounts 15,000
Purchase returns and a”
The file is attached. I am offering $30 for the entire assignment. If a 100/A is received, I will add $10! 🙂
The Ride-On-War Company (ROW) produces a line of non-motorized boats. Row uses a normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data
In 2002, Adelphia Cable filed bankruptcy when it was discovered that A. bank debt in excess of $2.3 billion was not shown on the financial statements B. sales in excess of $72 billion were omitted fro…
“Concerning a taxpayer’s requirement to make quarterly estimated tax payments: (Points: 5)which of the following is correct?
An estate is not required to make estimated payments.
…”
plz help me ASAP!! "9.0" "01/01/–","","¿","Bath Designs Inc.","" 0,0 3,3,1,2,0 "",0 "100" "199" "200&qu…
“2. The Wood Furniture Company manufactures tables. In March, the two production departments had budgeted allocation bases of 4,000 machine hours in Department 100 and 8,000 direct manufacturing labor”
“Bond Issued at a Discount:
On December 31, 2003, Sloan Corporation issued $ 1,000,000, 10%, 5-year bonds for $ 700,000. The par value of each bond is $ 1,000. The stated interest rate on the bond is”
Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000,
see the attach Harvard Research issues bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. The bonds have a $45,000 par value, an annual contract rate of 6%, and ma…
Sucher Company uses a standard cost system in which manufacturing overhead costs are applied to units of product on the basis of standard machine-hours. The company’s standards are based on variable m
“Which of the following items is not includible in the decedent’s gross estate?
A lump sum distribution from a qualified profit sharing plan to decedent’s daughter who elects five year forward ave”
Kestral Inc. owns 10% of Mouse Company. In the most recent year, Mouse had net earnings of $60,000 and paid dividends of $8,000. Kestral’s accountant mistakenly assumed considerable influence and us
On October 21, Rand & Brink, a CPA firm, was retained by Suncraft Appliance Corporation to perform an audit for the year ended December 31,A month later, James Minor, president of the corporation,…
“18. Essco Ltd, a foreign subsidiary of Peako Corp., has written down its inventory to current market value under a “”lower of cost or market”” rule. When consolidating Essco’s balance sheet into …”
Torrey Pines is studying whether to outsource its Human Resources (H/R) activities. Salaried professionals who earn $390,000 would be terminated; in contrast, administrative assistants who earn $120,
“Which of the following must be known to compute the interest rate paid from financing an asset purchase with an annuity? (Points : 1)
Fair market value of the asset purchased, number and dolla”
“You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest retained”
“which of the following cost amounts can be found in a firm’s accounting records?
a)opportunity costs
b)differential costs
c)incremental costs
d)sunk costs”
Larimer Industries is a division of Widgetco, a diversified manufacturer whose divisions are profit centers. Larimer makes a single product, X47, in its plant, which has a capacity of 18,000 units/mo
On January 1, 2010, Haley Co. issued ten-year bonds with a face amount of $2,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. Present value f
Please use template. Thank you Module 4 Exercises Problem 1 Derauf has prepared the following list of statements about decision making and incremental analysis. Identify each statement as true or fals…
Hooker Company sells $200,000 of ten-year, 8% bonds to yield 10% on January 1, 2005. The bonds pay interest annually on December 31. The bonds were sold at a discount of $24,578.The bond interest …
“The income statement for Baxter Company for 2008 appears below.
BAXTER COMPANY
Income Statement
For the year Ended December 31,2008
——“
“The ability to pay obligations that are expected to become due within the next year or operating cycle is called:
working capital.
Than”
“problem 8-18 effect of business structure on financial statements
upton company was started on January 1, 2011, the company earned cash revenues of 120,000 and incurred cash expenses of $82,000. Th”
“1.
Examples of opportunities for multinationals in Europe include:
the Single European Act.
the removal of the Berlin Wall.
All of the answers are correc”
Kara and Tyler are partners, and each has a capital balance of $100,000. To gain admission to the partnership, Raiden pays $60,000 directly to Kara for one half of her equity. After the admission of
Identify each of the following items with its appropriate financial statement, using the following abbreviations: Income Statement (IS), Statement of Retained Earnings (RE), Balance Sheet (BS), and St
“Wasson Company purchased items of inventory as follows:
2 50 units @ $20
12 12 units @ $21
Wasson sold 15 units on December 20. Determine the cost of …”
On December 18, 2011, Stephanie Corporation acquired 100 percent of a Swiss company for 3.7 million Swiss francs (CHF), which is indicative of fair value. At the acquisition date, the exchange rate wa
“During 2006 the company had the following transactions related to receivables.
Sales on account $3,800,000
Sales returns and allowances $50,000
Collections of accounts receivable $3,000,00″
Karen Most has federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and a take home pay of $499.00 this week, how much would her employer take from her pay to sat
During March, Department A started 300,000 units of product in a particular production process. The beginning work in process inventory was 50,000 units, and the ending inventory was 40,000 units. Dir
“Why? Here is the Excel table can you look at the assignment again please. Open attachment.
Thanks”
“Prarie Clinic purchased X-ray equipment for $4,000, paid $1,275 down, with the remainder to be paid later. The correct entry would be.
1,275
cash 1,275
Cash 1,275
payable 2,”
“Cash Flow Implications of Tax Losses [LO 4]
com is expected to have operating losses of $300,000 in its first year of business and $150,000 in its second year. However, the company expe”
“Ex. 16-120—Convertible Bonds.
Dahl Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2006 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2006 with interest …”
“fixed manufacturing costings are written off as current expenses of the period in which they occured when using _____ costing
a)direct
b)standard
c)absorption
d)differential”
What are the differences between managerial and financial accounting?
“a. Analyze the effects of the following transactions on the accounting equations of the
various funds and nonfund accounts of a state or local government. (For any borrowing
transactions, reflect an”
An accounting firm’s independence is most likely to be impaired when 17. A.The firm has a material financial interest in a nonclient but does not know of the client’s material financial interest i…
“In accounting for an immaterial amount of overapplied overhead, which of the following is part of the adjusting entry?
A debit to the Work in Process Inventory account
A debit to the Overhea”
hir sir .. hope u r doing well . please see the attachment ……. I attached u two files pls check it
“Warranties.
Herren Corporation manufactures CB radios. Each radio is sold with a two-year unconditional warranty against defects. During 2008, 280 radios were sold for $150 each. The company estimate”
at january 2006, Jake, Inc. has beginning incentory of 3,000 surfboards. jakes estimates it will sell 14,000 units durind the first quarter of 2006 with a 10% encrease in sale each quarter. jakes poli
“3. A magazine discovers 40% of the families, which subscribe, are ones where there are two wage earners. In the remaining 60% of the families there is only one wage earner. What is the expected numb”
Now carefully read the following article: Costing in new enterprise environment: A challenge for managerial accounting researchers and practitioners Krishan M Gupta, A Gunasekaran. Managerial Auditing…
“””The City of Billsville has $8 million par value of general government, general obligation bonds payable
The city has decided to call those bonds at their call date. Record the following”
“Prepare a Statement of Cash Flows for the Village of Parry Print Shop
Fund for the Year Ended April 30, 2009. Include the reconciliation of operating
income to net cash provided by operating activit”
“an employer having an experience based unemployment tax rate of 3.2% in a state having a standard unemployment tax rate of 5.4% may take a credit against a 6.2% federal unemployment tax rate of
“
Name and describe the two basic assumptions that underlie cost behavior patterns.
You are analyzing a stock. You expect that earnings will grow quickly relative to their current level, but the expected return on common stockholders’ equity is low. What levels of the price earnings
“””Tax Planning.”” Assume that you are a CPA working for an accounting firm. Please respond to the following:
Discuss the advice you give to your clients regarding:
Planning for Retire…”
Studi Kasus Analisis: Terlalu Hot Untuk Menangani! Capital Budgeting a. Secara singkat meringkas kasus b. Merumuskan jawaban atas pertanyaan 1, 2, 3, 4, 5, 6, dan 7 pada akhir kasus ini. Pastikan untu…
What the best way to analyze this case utilizing the questions “what action should Hans Thorborg take? and why?
On January 1, 2009 M company granted 90,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2011 and expire on January 1, 2015. Each option can be exerci
Foxworthy, Inc. is a manufacturer with a calendar accounting year. A physical inventory is taken on January 1, and any items not in inventory are charged to cost of goods sold. The current year is 201
The Phoenix plant of Baldo Chemical processes alphazine into betazine and gammazine. A batch consists of 20,000 gallons of alphazine, costing $11,000. Processing costs are $52,000, and results in 14
Assume that Boieng annual fixed costsare $950 million, and its variable cost per plain is $45 million. 1. Compute Boing Break-even point in number of plains and in dollars of sales. 2. Suppose Boing s
“2. Hupta Corporation reports cost of goods sold for the year ended December 31, 2000, of $6,500. Other information as of December 31 is as follows:
—1999—
Accounts Receivable: $500
Inventory:”
Alpha Caps Company has budgeted production of 4,000 units in January. Each unit requires 1.5 hours of labor. The standard labor rate is $8.00 per hour. How much are total budgeted direct labor costs f
“Smalley, Inc., purchased items of inventory as follows:
4 100 units @ $2.00
23 120 units @ $2.25
Smalley sold 50 units on January 28. Compute the co…”
“”””” On July 1, 20X0, the beginning of its fiscal year, the trial balance of the General Fund of the City of St. Bea was as follows:
Cash 20,000
Tax Receivable–Delinquent 120,000
Allowances for”
Under U.S. GAAP, property, plant, and equipment are reported at historical cost net of accumulated depreciation. These assets are written down to fair value when it is determined that they have been i
Please find attached Unit 7 homework managerial & Accounting EXERCISE 9-4. Using Present Value Tables [LO 1] What is the present value of $600 per year for five years if the required return is 10 …
“Up and its 80% owned subsidiary (down) reported the following figures for the year ending Dec. 31, 2011. Down paid dividens of $30,000 during this period.
UP Down
Sales $(600,000) $(300,0″
“1.Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world.
Discuss how this course has affected you in your professional”
“1. Under IFRS, accounts receivable can be accounted for at fair value whenever company management wants to do so.
True
False
At January 1, 2011, Farley Co. had a credit balance of $520,00″
Wolfe became the new auditor for Royal Corporation, succeeding Mason, who audited the financial statements last year. Wolfe needs to report on Royal’s comparative financial statements and should discl
I need help with figuring out the remainder of my homework on valuation allowance for available-for-sale investments account. The excel file attached for your review, it includes the homework question…
In its first month of operations, Quirk Company made three purchases of merchandise in the following sequence: (1) 328 units at $7, (2) 438 units at $8, and (3) 219 units at $9. Compute the cost of th…
For 2007, Mossland Corporation reported net income of $28,000, net sales of $400,000, and average shares outstanding 6,000. There were no preferred stock dividends. What were the 2007 earnings per sha
“Income before Income Taxes $3,750,000
Income Tax expense
Current $1,035,000
Deferred 90,000
__________ 1,125,”
8-55. Sarah has $30,000 for a down payment on a house and wants to borrow $120,000 from a mortgage banker to purchase a $150,000 house. The mortgage loan is to be repaid in monthly installments over
“1. Torrey Pines is studying whether to outsource its Human Resources (H/R) activities.  Salaried professionals who earn $390,000 would be terminated; in contrast, administrativ”
A company offers a cash rebate of $1 on each $4 package of light bulbs
Identify audit work considered to be audit sampling and distinguish it from work not considered to be audit sampling
The investment category for which the investor’s “positive intent and ability to hold” is important is: A. Securities reported under the equity method. B. Trading securities. C. Securities classified …
Crandall Oil has total sales of $1,349,800 and costs of $903,500. Depreciation is $42,700 and the tax rate is 34 percent. The firm does not have any interest expense
“1. Under GASB standards, nonmajor funds are reported
In the management’s discussion and analysis preceding the financial statements.
In aggregate amounts in a single column in the fund financ”
do you just need more time for the problem. For the coming year, Belton Company estimates fixed costs at $60,000, the unit variable cost at $25, and the unit selling price at $50. Determine (a) the br
“The accuracy of financial statements rely on fraudless operations and controls placed in each area. Please list some key controls in each of the following accounts.
Cost of goods sold”
“14. Swan, Inc. is an accrual basis taxpayer. Swan uses the aging approach to calculate the reserve for bad debts. During 2010, the following occur associated with bad debts.
Credit sales $300,000″
How do the differences with financial and managerial accounting impact the type of information that must be gathered and reported?
“5) Which of the following is not a factor in explaining why the present value of a future dollar is less than one dollar?
Historical cost
Interest
Inflation
Risk o”
Create a business process level REA model (in grammar form) for Quandrax Computers’ acquisition/payment process. Be sure to include all relevant entities, relationships, attributes, and participati…
“The system through which management is given financial information for use in conducting the affairs of the business and in reporting to owners and other interested parties is called the
accounti”
“Capital Investment Analysis
Genette Henderson was just promoted to supervisor of building maintenance for the Ford Valley Theater complex. All points Entertainment, Inc., Henderson’s employer, use…”
Sir i did send three questions. Problem #1 ( 25 points ) Roller Blade Company uses the perpetual inventory system and had the following transactions during October: Prepare journal entries to record e…
A retail building used in the trucking business of a sole proprietor is sold on February 10, 2008 for $1,000,000. Accelerated depreciation of $450,000 had been taken on the building and it had been a
On January 1, 2012, Huber Co. sold 12% bonds with a face value of $800,000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $8
does it take any special expertise to initiate a sniffer attack?
“Please help with the following question:
Below is selected information from Drexel Co.
2002 2003
Net Operating Assets/ 37″
“18. Firm Value Young Corporation expects an EBIT of $16,000 every year forever. The company
currently has no debt, and its cost of equity is 15 percent.
What is the current value of”
John riviera deposits $14,000 in national bank at 8% compounded quarterly. What is the effective rate (APY) of interest.
“Find the errors in the following balance sheet items (if they exist) for a theater company:
Cash listed as $19,400 as they have $16,000 in the company’s bank account, $2,400 on hand in the company”
On December 31, 2011, Lang Corporation leased a ship from Fort Company for an eight-year period expiring December 30, 2019. Equal annual payments of $200,000 are due on December 31 of each year, begin…
A newly hired manager of a engineering company,does not understand how the cost of the firm’s equipment is expensed. In memo format, explain how depreciation provides a means of expensing the cost of
The balance sheet for marin co include 7.5% bonds payable due december 31, 2018 for $1,600,000. Unamortized discount on bonds payable for $64,000. The bonds were issued on dec 31, 2008 at 95 with int
“Can you please upload the remaining answers for this case? I also would like to know how you got $17.95 in question I section iii
Thanks a lot”
“1 Nikkel Corporation, a merchandising company, reported the following results for July:
Sales 402800
Cost of goods sold(all variable)”
“November 21 Paid Rent in Cash $1,900
November 23 Received Commission By Check $9,500
November 25 The following persons paid us their Accounts by check in each Case Deducting 5% Discount :
Uson”
“The primary accounting standard-setting body in the United States is the:
Securities and Exchange Commission.
Public Company Accounting Oversight Board (PCAOB).
Financial Accounting”
“General Machinery Company Limited
General Machinery Company Limited, a subsidiary company of Las Vegas Group Corporation (USA) Limited, is primarily a distributor of a range of machinery and equip”
When a parent uses the initial value method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is true before making adjustments on the
The common stock of Alexander Hamilton Inc. is currently selling at $120 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value
“The inventory cost flow assumption describes the flow of product cost “
“Use the following information to solve the Questions 1, 2, and 3 below:
Sellograph Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of Sellograph’s sales”
“Intergrated case application-Pinnacle Manufacturing:Part V(5). And Part VI(6).
I need chaper 15-35, and chapter 16-35 solutions.Please.”
“Can you make this excersise for me? because I don’t understand this:
Requiered: Prepare working papers to consolidate the financial statements of Pan Corporation and Subsidiary at and for the year”
The accounting for defined contribution pension plans is easy because each year:
“During December, LP Products incurred the following costs:
Advertising Expense
General & Administrative Costs
Property Taxes on Factory”
Oran Refiners, Inc., processes sugar cane that it purchases from farmers. Sugar cane is processed in batches. A batch of sugar cane costs $76 to buy from farmers and $18 to crush in the company’s plan
Exhibit 18-11 resembles the schedule Paul has in mind. Use it to determine the ending inventories of direct materials, work in process, and finished goods. 2. Draft an insurance claim letter for th…
On January 1, 2010, Janik Corp. acquired a machine at a cost of $500,000. It is to be depreciated on the straight-line method over a five-year period with no residual value. Because of a bookkeeping e…
CHAPTER 3 /JACKSONVILLE FINANCIAL SERVICES CO,UNADJUSTED TRIAL BALANCE AT DECEMBER31,2010Week 3 Assignment Read the following scenario, and complete the form on the following worksheet: Jacksonville F…
hi, expert, thank you very much for your reply, i really want to paid more for your quality answer, but there is no money left from my bank card, that’s the last amount i have, but this work is really…
Distinguish between joint and separable costs. How do these distinctions differ between a firm with truly joint products and a firm with only a major product and by-products?
A company reported net income of $100,000 and average total assets of $425,000. Calculate its return on total assets.
Jones Design wishes to estimate the value of its outstanding preferred stock. The preferred stock issue has an $80 par value and pays an annual dividend of $6.40 per share. Similar-risk preferred stoc
“a) Since August of 2010, Bowe-Whitney has been involved in labor disputes at two of its facilities. Negotiations between the company and the unions have not produced a settlement and, since January 20”
“””Sanchez co. sold land ot Benita Sanchzes for $100,000 who owns 60% of the outstanding stock of Sanchez. The company;s adjusted basis in the land was $120,000.
Compute the company’s realized an”
Problem 14-18 Top executive officers of Leach Company, a merchandisin
“in LIFO,FIFO petperual system, what is the different between “keep in units only, and keep in dollars”?
“A patent was purchased for $670,000 with a legal life of 20 years. Management estimates that the patent has an 8-year economic life. The entry to record amortization would include?
an increase in”
Assignment Type: Individual Project Deliverable Length: 1 page and 1 Excel Spreadsheet Consider the following scenario: Deer Valley Lodge, a ski resort in the Wasatch Mountains of Utah, has plans to e…
“If a city acquires a new office building under a capital lease agreement,
1)The cost of the building should be reported in the __
2)The “”cost”” of the building is computed as ____
3)A governmental”
The accounting department reports that the balance of accounts receivable is $210,000. You are willing to accept that balance if it is within $15,000 of the actual balance. Using a variables sampling
Compare and contrast the use of the three inventory costing methods (FIFO, LIFO & Avg Cost Method).
“Presented below are data for Caracas Corp.
2013 2014
Assets, January 1 $4,560 ?
Liabilities, January 1″
“Juan Ortiz is unable to reconcile the bank balance at January 31. Juan’s reconciliation is shown here. (Round all answers to 2 decimal places, e.g. 12.25.)
Cash balance per bank $4,154.88
Add:”
“Chapter 10
#12: Explain the difference between the average return you calculated in Problem 11(a) and the real-ized return you calculated in Problem 10. Are both numbers useful? If so explain wh”
Granberry is going to sell Christmas tree lgihts for $20 a box. The lights cost Marsha $5 a unit and any unsold lights can be returned for a full refund. She is planning to rent a booth at the up
Auditors found that the entity has not capitalized a material amount of leases in the financial statements. When considering the materiality of this departure from GAAP, the auditors would choose betw
The board of directors of Berweck Corporation declared a cash dividend on January 18, 20×7, to be paid on February 18, 20×7, to shareholders holding the stock on February 2, 20×7. Given these fact
“Popson inc incurred a material loss which was not unusual in character, but was clearly an infrequent occurrence. The loss should be reported as:
an extraordinary loss
a seperate line betw”
“The items below represent the ratios to be calculated for McDonald’s Corp.
Debt to Equity Ratio
Times Interest Earned Ratio
Earnings Per Share
Price Earnings Ratio”
The examination is open book. As a result, the examination is challenging. You may have to use the index in the textbook and search engines on the Web to research certain terms that are not in the
Gonzalez Company makes a product that is expected to use 1.2 pounds of material per unit of product. The material has a standard cost of $2 per pound. Gonzalez actually used 1.1 pounds of material per
i just posted an assignment, placed a pledge to pay, and i wasn’t logged in and now i can’t find it. if anyone has a clue please let me know.
please help COMPREHENSIVE PROBLEM: CHAPTERS 13, 14, AND 15 Nordham Corporation’s trial balance at December 31, 2010, is presented below. All 2010 transactions have been recorded except for the items d…
“Defining and Identifying Relevant Information
Bob’s Burger is in the fast food restaurant business. One component of its marking strategy is to increase sales by expanding in foreign markets. It us…”
Create a chart with the cost, replacement cost, ceiling, floor, market value, and lower of cost or market. (Data in attachment)
Why do you think that re-entering data because of keypunch errors is both internal and external failure cost?
Gasco Clinic uses patient-visits as its measure of activity. During August, the clinic budgeted for 2,000 patient-visits, but its actual level of activity was 2,100 patient-visits. The clinic uses the
Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy, I
“Estimated manufacturing overhead for the year = $30,000
Estimated director labor hours for the year = 2,000 hours
Two jobs were worked on during the year: Job A-101 and Job A-102. The number”
see the attachement The following selected transactions are from Chantay Company: 2008 Dec. 16 Accepted a $14,400, 60-day, 8% note dated this day in granting Adam Bakko a time extension on his past-du…
Howard and Dick are equal partners in a partnership. The partnership has 450 shares of IBM stock (per share FMV = $100, Adjusted Basis = $10) and 820 shares of Xerox stock (per share FMV = $95, A…
In January 2010, the Remy Corporation purchased a patent for $231,000 from Nel Company that had a remaining legal life of 14 years. Remy estimated that the remaining economic life would be seven years
“Preferred stock returns Bruner Aeronautics has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of $2, and its current price is $80.
What is its”
Attached is the problem in excel form. There are 3 pages in the excel sheet.Please show all calculation. If you get a number from another cell use the = sign then click on the cell. I ask that you do …
Frank and Bob are equal members in Soxy Socks, LLC. When forming the LLC, Frank contributed $50,000 in cash and $50,000 worth of equipment. Frank’s adjusted basis in the equipment was $35,000. Bob con…
“WHat might happen if:
revenue accounts are not closed?
expense accounts are not closed?
dividends are not closed?”
“Balance Sheet and Income statement
The fiscal year for honshu ends on may 31, Resulst for the year ended may 31, 21×1
Cash and cash aquipment 000
Cost of goods sold 0″
“3. Parker is a 100% shareholder of Johnson Corp. (an S corporation). At the beginning of 2011, Parker’s basis in his Johnson Corp. stock was $14,000. During 2011, Parker loaned $20,000 to Johnson Corp”
On July 1, 2002, Big acquires 100% of Little. Both companies have a fiscal year end of 12/31/02. At 12/31/02, how much of the fair market value adjustment associated with inventory should be amortized
Analyze the effects of these events on the accounting equation of the medical practice of cindy Surrette, MD. Use a format similar to that of Exhibit 1-8, with headings for cash, medical supplies, lan
“Knowledge about the behavior pattern of a cost is important to understanding the effect on net income of a change in sales volume because as sales volume changes:
net income will change proportiona”
“In 2011, the internal auditors of KJI Manufacturing discovered the following material errors made in prior years:
Equipment was purchased on June 30, 2009, for $100,000. The purchase was incorrect”
What are the proportions of sales by distribution channel for McDonald’s Corp.? Please provide references.
see the attach Selected comparative financial statements of Adobe Company follow: ADOBE COMPANY Comparative Income Statements For Years Ended December 31, 2010-2004 ($ thousa 2010 nds) 2009 2008 200…
domino foods, inc., manufactures a sugar product by a continuous process, involving three production departments- refining, sifting, and packing. assume that records indicate that direct materials, di
A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value. How would I do a journal entry to
“When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000.
What amount should have been reported for the land in”
“An appropriate activity index for a college or university for budgeting faculty positions would be the
faculty hours worked.
credit hours taught by a department.
number of administ”
“1. Which of the following is ordinarily considered an “”extended procedure”” in external auditors’ independent audits of financial statements?
Send positive confirmations on recorded customer ac”
“On November 1, 2008, Bob’s Skateboards Store signed a $12,000, 90-day, 5% note payable to cover a past due account payable.
What amount of interest expense on this note should Bob’s Skateboards”
“which of the following entries records the withdrawal of cash by sue martin, owner of a proprietorship, for personal use?
debit sue martin, capital credit cash
debit salaries expense, credit s”
Peasant purchased 80 percent of slave at the beginning of 2005 for book value and used the equity method to account for its investment. Peasant’s investment account balance at teh beginning of 2006
Prepaid the $200 shipping charge. Using the perpetual inventory method, which of the following entries will Red Co. Make if Red Co. Pays within the discount period? Accounts Payable-Orange Co.,
“3. Capital Structure and Growth Edwards Construction currently has debt outstanding with
a market value of $90,000 and a cost of 9 percent. The company has an EBIT of $8,100 that is
expected”
Which of the following fund types uses the modified accrual basis of accounting? A) Private purpose trust fund. B) Pension Trust Fund. C) Special revenue fund. D) Internal service fund. 8. When the…
“Please note that this was in the Course Hero System for 2009, the year has changed and so have 179 limitations…
Jack Jones, age 35, is single and has no dependents. At the beginning of 2010, Jack”
“9. The standard quantity allowed for the units produced was 6,500 pounds, the standard price was $2.50 per pound, and the materials quantity variance was $375 favorable. Each unit uses 1 pound of mate”
“The sales, income from operations, and invested assets for each division of Salem Company are as follows:
Income from Invested
Sales Operations Assets
Division C $4,000,000 $410,000 $3,500,0″
You are the bookkeeper at a small merchandising firm. You are comparing the income statements from the last three years. You notice the Purchases Returns and Allowances account has been increasing a
Ethyl owns a small strip mall that has an adjusted basis of $950,000 but is subject to a mortgage of $240,000. She transfers the strip mall to Bert and receives from him $150,000 in cash and an office
“The income statement for Christensen, Inc., appears below.
CHRISTENSEN, INC.
Income Statement
For the Year Ended December 31, 2011
Sales $395,800
Cost of goods sold 234,500″
“Individual Assignment: Lee Corporation Equity Scenario
Review the following information:
Lee Corporation, a U.S. company, began operations on January 1, 2004.
During its first 3 years of operati…”
Comparative balance sheets for Bayshore Industries, Inc. as of December 31 year 2 and year 1 are presented below. Prepare the cash from operations section of the statement of cash flows using the DIR
What do purchases equal when beginning inventory is 20,000, ending inventory is 32,000, cost of goods sold is 238,000, and purchases returns and allowances is 5,000?
I have attached a copy of the article from which to extrapolate the data. It is question…11. Prepare a table that illustrates the percentage change in costs between the volume-based system and the s…
“anthony is a surety on a debt owed by victor to day. which of the following is correct?
Day must satisfy the Uniform Commericail Code’s filing frquremen in order to perfect his security interest”
“which of the following acts by a CPA who is not in public practice would most likely be considered a violation of the ethical standards of the profession
using the CPA designation without disclos”
Please answer the questions and give solutions. Please give the accounts and whether or not it debit or credit. Answer:____________ Solution: Answer:_________ Solution: Answer:_____ Solution: Answer:_…
I need the help with the Glo-bright payroll accounting project. JOURNAL Page 41 POST. DATE 20– Oct. DESCRIPTION 9 Payroll Cash Cash REF. DEBIT 12 11 9 Administrative Salaries Office Salaries Sales Sa…
“1.
(Points: 1)
The primary purpose of hiring a public accounting firm to examine the financial statements of the company is
to assure no fraud has been committed by the company’s manageme”
Case assignment expectations: Main Line vs. Basinger In 1991, Main Line Pictures, Inc. sued actress Kim Basinger (and others) for breach of contract. Basinger had been in negotiation with Main Line to…
Martin and Rachel are married and have a 3-year-old child. Martin is going to medical school full-time for 12 months of the year and Rachel earns $45,000. Their child is in day care so Martin can go t
Consolidated Industries is studying the addition of a new valve to its product line. The valve would be used by manufacturers of irrigation equipment. The company anticipates starting with a relativel
“In a statement of cash flows, all of the following would be classified as operating activities except:
interest paid to creditors.
dividends received on stock in another company held as an”
Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy, I
“On January 1, 20X5, Taft Company acquired all of the outstanding stock of Vikix, Inc., a Norwegian
company, at a cost of $151,200. Vikix’s net assets on the date of acquisition were 700,000
..”
13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separa…
Discuss the practical problems of budgeting and budgetary control within an organisation. How might these be overcome?
“Complete the following three exercises and submit to your instructor. Be sure to show your work for calculations to earn full credit. Sales and Production Budgets (8-12): The marketing department of …
“In this Web Field Trip, you will research some information about the inventories of two major companies that sell merchandise to customers online: Amazon.com and Dell Inc.
Amazon http://phx.corpor”
what is the revenue recognition principle and what is viewed as a major criticism of GAAP regarding revenue recognition?
Hi There, I hope you can help answer these questions. Regard, Benz 10. In the current year, the CAR Partnership received revenues of $200,000 and paid the following amounts: $120,000 in rent, utilitie…
“The explanatory notes to the financial statements:
should be referred to if more than a cursory, and perhaps misleading impression of a firm’s financial position and its results of operations”
Department A had total sales of $84,000 and Department B had total sales of $36,000. Other office expenses, totaling $2,500 are allocated on the basis of total sales. The amount allocated to Departm
On September 19, 2006, Rosen Co. purchased machinery for $190,000. Salvage value was estimated to be $10,000. The machinery will be depreciated over eight years using the sum-of-the-years’-digits meth
“Fernando Designs is considering a project that has the following cash flow and WACC data. What is the project’s discounted payback?
WACC: 00%
Year 0 1″
Net income is $132,000, accounts payable increased $10,000 during the year, inventory decreased $6,000 during the year, and accounts receivable increased $12,000 during the year. Under the indirect me
“A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company’s total asset turnover equals:
Answer
82.
90.
“
“Here’s a client email.
“”I’ve formed a corporation to conduct a business of selling holiday related items. The sales of the business will be largest in October through December ( estimate 80% of”
“under the general rule of revenue recognition, revenue is recognized when
marketability and market price are assured
a contractual agreement exists, and cash collection is assured
the ear”
“2. Entries for Bonds Payable.Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co.(a) On April 1, 2009, Quirk issued $500,000, 9% bonds for $537,868 incl”
“The city of Cedarcrest signed a lease for a photocopy machine at $2,000 per month and $.02 per copy.
Operating costs for toner, paper, operator salary, and so on are all variable at $.03 per copy.
D”
This closes tomorrow at 11:59 pm Est. Please complete. See attached. Please reissue the $20 owed from the other request. See earlier messages. 5.3 – Mastery (3 out of 4 answers Must Be Correct)…?…
Jannelle exchanges a machine used in her trade or business for another machine. In addition, she gives 200 shares of Intel stock which have a fair market value of $38,000 and a basis of $29,000. The
“7. Madsen Company reported the following information for 2012:
Sales revenue $1,530,000
Cost of goods sold 1,050,000
Operating expenses 165,000
Unrealized holding gain on available-for-sale secur”
John is 42 years old. His employer provides him with $300,000 of group term life insurance as a fringe benefit. The policy costs his employer $40 per month. For tax purposes, how much income does J
A-corp distributed $10,000 cash to John, its sole Class A common stockholder in May, 2009. It also made a $10,000 cash distribution to Bill, its sole Class B common stockholder in December, 2009. Th
“Below is information for year ended 12/31/00 for Company A and Company B. Use this information to solve the Questions 1, 2, 3, and 4 below:
—Company A—
Interest expense: $ 400
Tax expense”
How can we position our companies to be more flexible to handle economic swings?
Tie in Bradley’s test counts on the client’s count sheets to Apollo’s Inventory Warehouse Report. Finally, tie the Inventory Warehouse Report to Apollo’s Inventory Status Report supplied by Ka…
See attached excel sheet for problem. Please identify where all calculations if any come from.
The standard direct material cost to produce a unit of Lem is 4 meters of material at $2.50 per meter. During May 2005, 4,200 meters of material costing $10,080 were purchased and used to produce 1,00
$25 dollars to answer 15 multiple choice questions that you have 5 days to complete and without question probably will only take a few minutes to answer? That’s too much. Question 1 Which one of the f…
Sharp and Townson had capital balances of $60,000 and $90,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $30,000
“3. Calculating Cost of Debt Shanken Corp. issued a 30-year, 9 percent semiannual bond 4 years
The bond currently sells for 112 percent of its face value. The company’s tax rate is
35 pe…”
Smackey Dog Foods, Inc. started in the kitchen of Sarah, Kim, and Jillian’s family home in the suburbs of Chicago. The three sisters initially bought the ingredients for their natural dog food reci…
“Find the latest 10k of Domino’s pizza and please answer the following: Compute the inventory turnover ratio. How is a low or high turnover ratio significant? Should they do better?”
“1. Which of the following can influence a company’s pricing decisions?
Manufacturing costs.
Customer demand.
Pricing laws.
All of the above.
Which of the following”
On December 1, Miser Corporation exchanged 3,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site. The treasury shares were acquir
Poster Inc. owns 35 percent of Elliott Corporation. During the calendar year 2003, Elliott had net earnings of $300,000 and paid dividends of $36,000. Poster mistakenly accounted for the investment
“A Management Report
“”There are three things that I wish I had to make my decision easier. First, I’d like to have a summary
report that shows what the composition of the next weeks occupancy…”
“Operating lease.
Kirby Co. purchased a machine on January 1, 2008, for $1,000,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be dep”
“The New Age Manufacturing Company assembles printers from components supplied by various suppliers. Listed below are some of the costs that were incurred by the company this year:
Factory Insurance”
Final Project: Evaluating Financial Health • Resources: Appendix A, Ch. 1 PowerPoint®, and Ch. 6 of Understanding Financial Statements • Write a 750- to 1,050-word paper evaluating the financi…
“Whiley Company issued a $100,000, five-year, 10 percent note to Security Company on January 2, 200
Interest was to be paid annually each December 31. The stated rate of interest reflected the ma”
“Small Fry Company has sales of $1,000,000, variable costs of $400,000, and fixed costs of $450,000. Small Fry’s degree of operating leverage is:
80.
50.
67
00.”
You need to select an article related to managerial accounting (ABC costing, budgeting, cost of quality, variable & fixed costing, etc.). You can use the internet or the library.
What’s the opportunity cost of cash balances to a firm?
“Which of the following would be considered a cash outflow in the investing activities section of the statement of cash flows?
a Purchase of equipment.
b Dividends paid to the company’s own stockho”
See attached, need answer for Exercise 2-8 & 2-10, Problem 2-1 & 2-5
“Which one of the following costs should NOT be considered an indirect cost of serving a particular customer at a Dairy Queen fast food outlet?
the salary of the outlet’s manager.
the wag”
Explain why transfer prices based on total actual costs are not appropriate as the basis for divisional performance measurement. 2. Using the market price as the transfer price, determine the contr…
Describe the nature of damages that result in the loss of household services.
What is a budget? What are some major benefits to be gained from budgeting?
International Accounting: A User Perspective CHAPTER 4—QUESTIONS International Accounting: A User Perspective TRUE/FALSE 1. With the GPLA model, the adjustment factor for non-monetary items is compr…
“North Division has the following information:
Sales $900,000
Variable expenses 480,000
Fixed expenses 465,000
If this division is eliminated, the fixed expenses will be allocated to the company’s”
What was the major conclusion of the 1931 Ultramares case
Wood Corporation uses no debt. The weighted average cost of capital is 9%. If the current market value of the equity is $23 million and there are no taxes, what is EBIT?
Edgar Co. acquired 60% of Kindall Co. on January 1, 2009. During 2009, Edgar made several sales of inventory to Kindall. The cost and selling price of the goods were $140,000 and $200,000, respectivel
“Write a memorandum to your client Dr. Green addressing each of the issues listed below. The memorandum should be no less than one page and no more than three pages in length.
APPLICABLE LAW
Us”
“Which of the following defenses may a surety assert against a creditor to avoid liability after the debtor’s default?
lack of notice of the debtor’s default
lack of consideration for the suret”
attched Franco Corporation was organized on January 1, 2008. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated valu…
“South-Western Federal Taxation Comprehensive Volume 2011
APPENDIX E Problem 2 PAGE E4-E8″
Smith Company has a simple capital structure. At December 31, 2008, it had $500,000 of $100 par value 6% preferred stock outstanding, and $1,000,000 of $5 par value common stock outstanding. Net incom
The company’s revenues in the last two quarters have dropped from $4.2 million to $3.9 and $3.4 million respectively. With the current trend they estimate that within the next two quarters their cos…
1 Ground Rules: 1. Read and follow directions carefully. Enter answers in the places indicated. 2. Be sure to show all your computations and related work. Part 1 – ACCOUNTS RECEIVABLE AND ALLOWANCE …
“2. The City of Charlotte levied property taxes in 2012 in the amount of $10 million. It is estimated that 2% will be uncollectible. During 2012, $9,000,000 was collected, and it is anticipated that”
You are the assistant controller in charge of general ledger accounting at Riverside Bottling Company. Your company has a large loan from an insurance company. The loan agreement requires that the com
You are working in the office of the vice president of administration at International Telecon (IT) as a senior financial planner. IT is a fortune 500 firm with sales approaching $1 billino. IT provid
This is for CP5-1:Financial Reporting Project:Mini Practice Set out of Principles of Accounting. ISBN#978-0-07-352684-3 by Mcgrawhill. Do you have access to this or able to assist. I could type the
What happens if the temporary accounts don’t zero out?
Recently, governmental investment policies have been sharply criticized because of some significant losses incurred by certain governments. What is the nature of the problem that is being criticized?
Isaac Co. sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice is dated on April 15 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the
“7. Only a cash basis partnership is concerned with the problem of “”unrealized receivables””.
True or False
Rachael and Ray form an equal partnership R&R on January 1, 20X1. Rachael contrib…”
what is the formula for calculating current ratio and acid test ratio after a transaction. For example, a Company has $1,000,000 of current assets, a current ratio of 1.8:1 and an acid test ratio of
“Mirrlees Furniture earned $500,000 last year and had a 40 percent payout ratio. How much did the firm add to its retained earnings?
choices are 200,000, 300,000 There isn’t enough info or None of the”
Occasionally the SEC makes accounting rule deceisions. In a couple of paragraphs explain why The SEC should NOT be responsible for deciding accounting rules?
What irregularities should a fraud examiner look for in the payroll function within a firm?
Consider two companies: Quantum Products and Aquafin Products. Senior managers at Quantum Products are evaluated in terms of increases in profit. In fiscal 2011, Quantum Products had a net operating p…
“the taxpayer is a ph.d. student at state university. the student is paid $1000 per month for teaching two classes. the total amount received for the year is $9000.
$9000 is excludible if the money”
Isaac Co. sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice is dated on April 15 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the
“If the exchange rate for Canadian and U.S. dollars is 0.82777 to 1, this implies that 3 Canadian dollars will buy ____ worth of U.S. dollars.
Answer
$ 0.2759
$0.82777
$1.82777
4″
“egarding the tax formula and its relationship to form 1040, which if any of the follwing statements is correct:
Most exclusion from gross income are reported on page 2 of form 1040.
An “”above th”
A company has $27 per unit in variable costs and $1,000,000 per year in fixed costs. Demand is estimated to be 100,000 units annually. What is the price if a markup of 40% on total cost is used to d
Madison Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2011 totaled $18,000 of materials, $9,000 of direct labor costs, and $6,000 of ma
“Wilma is CEO of and owns 100 percent of WT Enterprises, a cash-basis, calendar-year
The company has always been profitable but over the last five years Wilma’s
salary has increased fr…”
“QUESTION 1
Aero Technology produces two types of optical mouse: model XT100 and model FT100. The two products are processed through the same production department – Assembly and Packaging. Demand…”
“A project produces cash inflows of $8,300 a year for 4 years. The PI is 1.08 at a discount rate of 12.5 percent. What is the initial cost of the project?
$23,099
$25,407
$27,…”
what is attorney-client privilege and how does it differ from accountant-client privilege?
Describe the two-stage process for departmental overhead rates.
“The deferred tax expense is the
decrease in balance of deferred tax asset minus the increase in balance of deferred tax liability.
increase in balance of deferred tax asset minus the inc”
Lem Lumberjack sells 100 shares (basis of $5,000) of Redwood Corporation common stock on March 8, 2008 for $4,000. On March 29, 2008, Lem purchases 50 shares of Redwood Corporation common stock for $2
Describe the Sarbanes-Oxley Act of 2002 and its impact on internal controls and financial reporting
“On July 1, 2011 Jekel & Hide Inc. purchased land and incurred other costs relative to the construction of a new warehouse. A summary of economic activities is listed below:
Purchase price: 185,000
T”
“answers to problem 6-22 no.4
the marketing department thinks a new package would increase packaging costs by 75 cents per unit. how many units need to be sold each month to make a profit of 9750.
sa”
Suppose that you just purchased a $1,000 Treasury Inflation-Indexed Bond which carried an original interest rate of 3.375%. The consumer price index just increased by 5% increasing the par value o
“When a CPA is associated with financial statements that do not comply with promulgated GAAP because the statements would be misleading without the departure, the CPA is not required to disclose
“
“Question 1
On April 1, 2003, Penny Corporation sells land to its 60%-owned subsidiary, Sahl
Corporation, at a $15,000 gain. The land is still held by Sahl on December 31, 2003.
What is the effect”
A, B, C, and D are sole proprietors, each individually engaged in the business of free-lance court reporting. All four individuals report their income on the cash method. They decide to form an equa
Financial Accounting Problems and Issues None of the following statements are correct. In each case, identify the error and correct the statement. A. household’s current savings includes its current…
“””Which of the following group of accounts are all assets?
Accounts Receivable, Revenue, Cash
Prepaid Expenses, Buildings, Patents
Unearned Revenues, Prepaid Expenses, Cash
Cash, Accoun”
What is the difference between a static planning budget versus a flexible budget? What are some of the possibilities that actual results may differ from what has been budgeted at the beginning of a pe
“Discuss the purpose of a bank reconciliation.
need 150 words please”
sorry tell me if this works. I really like the notes that you leave back on the attachment on how you got the answers please continue that E13-3 During its first year of operations, Harlan Corporation…
“The following information for 2009 relates to Sparrow Corp a calander year accural method taxpayer.
Net income per books after-tax $134,700
Federal income tax expense per books 59,300
Tax exempt i”
Using the adjusting and closing entries that you prepared in Week 04, prepare the statements listed below. Refer to the trial balance provided to you in Week 04 for last year’s balances. You will need…
“A company reports the following comparative income statements:
2011 2010
Net Sales…………….$736,000 $840,000
Cost of Golds sold…….518,880 571″
“Drop unprofitable segments
Perform an Internet search on “”close underperforming stores”” or similar phrase or locate an example of a company that has closed unprofitable stores or other segments.”
the due date is 29th in the morning Accounting for leasing – by lessee On 1 July 2011, Cerise Ltd leased a crane from Azure Ltd. The crane cost Azura Ltd $120,697. The lease agreement contained the fo…
“Sable sells a passive activity with an adjusted basis of $245,000 for $305,000. Suspended losses attributable to this property total $45,000. The total gain and the taxable gain are:
$”
On Feb. 23, 1981, the town of Lincoln, which operates on the calender year, issued 4% general obligation bonds with a face value of $300,000 payable Feb 23, 1991, to finanace the construction of
“E16-20 (EPS with Convertible Bonds, Various Situations) In 2006 Chirac Enterprises issued, at par,
60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues”
“Consider the following information pertaining to a year’s operations of Youngstown Manufacturing:
Units sold 1,400
Units produced 1,600
Direct labor $4,200
Direct materials used 3,500
Fixed man…”
“The following items were taken from the financial statements of Hinz, Inc., over a four-year period:
Item 2011 2010 2009 2008
Net Sales $725,000 $640,000 $575,000 $500,00″
Maranantha Box Corporation is considering adding another machine for the manufacture of corrugated cardboard. The machine would cost $692,286. It would have an estimated life of 6 years and no salvage
on July 1, 2008, candace purchased a 10-year $10,000 bond. the bond has a stated interest rate of 5%, payable annually on july 1. On june 1, 2009, 335 days from the last interest payment, candace so
“50. John, the secured party, perfects its security interest by filing a financing statement? What is the effect of perfection of John’s security interest?
The secured party has priority in t…”
“1. Sandra Sherman incorporates her apartment building. It has a basis of $50,000, a value of $150,000, is subject to a mortgage of $70,000 and has a depreciation recapture potential of $12,000. If Sa
“The rule of 72
The “”rule of 72″” states that the number of periods n that it would take to double an investment whose rate of return r percent is approximately 72/r. That is, nr is approximately equ”
“3-38 Mixed Cost, Choosing Cost Drivers, and High-Low and Visual-Fit Methods
Cedar Rapids Implements Company produces farm implements. Cedar Rapids is in the process of
measuring its manufacturing co”
Investment A requires a net investment of $800,000. The required rate of return is 12% for the four-year annuity. What are the annual cash inflows if the net present value equals zero
“7. A part of the Recovery of Investment test (90% Test), includes minimum lease payments. Which of the following is not included in the minimum lease payments test:
Bargain purchase option.
N”
“What are the advantages of the four different special journals? When would you use each type?
What is a subsidiary ledger and what purpose does it serve?
What is a control account and wh”
So far in the course we have dealt with primarily two consolidation methods – acquisition and purchase method. In both cases upon acquisition, goodwill may be created. What does goodwill represent? …
Black Company sold Red Company merchandise on account FOB shipping point, 2/10, net 30, for $10,000. Black prepaid the $200 shipping charge. Which of the following entries does Black make to record th
prepare a ratio analysis table to compute the quick and current liquidity ratios and dupont ratio
How does the balanced Scorecard approach differ from traditional approaches to performance measurement? What, if anything, distinguishes the Balanced Scorecard approach from a measure everything, and
I need all the questions at the bottom of the case answer in detail in an essay form, approximately 10 pages double spaced.
The board of directors declared cash dividends totaling $242,000 during the current year. The comparative balance sheet indicates dividends payable of $48,000 at the beginning of the year and $63,000
Reynold Enterprises sells a single product for $25. The variable expense per unit is $15 and the fixed expense per unit is $5 at the current level of sales. The company’s net operating income will inc
Need Help understanding FNT1 task 1, not sure if I’m coming up with correct figures and need correct info before I write business memo portion of task.
“Explain the difference between short-term and long-term investments. Cite examples of each.
Answer
Please nedd 200 words and cite examples for each(see above)”
Equipment that cost $55,000 and has accumulated depreciation of $25,000 is for similar equipment with a fair value of $40,000 and $10,000 cashi is received. The gain to be recongnized from the exchang
“Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively.
Assuming that the exchange has commercial s”
“””Problem 18-17A Process cost system cost of production report
Hamby Company had 250 units of product in its work in process inventory at the beginning of the period
and started 2,000 additional unit”
the manager of Kim’s Food Mart estimated operating costs for the year will include $900,000 in fixed costs. find the break-even point in sales dollars with a contribution margin ratio of 40 percent
Beeman Corporation estimates that a 3% increase in retained customers is estimated to cause the organization’s gross margin ratio to increase by 2.4%. Beeman’s current sales are $20,000,000 and the co
) Pilgrim Corporation processes frozen turkeys. The company has not been pleased with its profit margin per product because it appears that the high value items have too few costs assigned to them, wh
“The following expenses were incurred by a merchandising business during the year. In which wxpense section of the income statement should each be reported (a) selling, (b) administrative, or (c) othe
Tolan Co. purchased 60,6% Irick Company bonds for $60,000 cash plus brokerage fees of $600.Interest is payable semiannually on July 1 and january 1.If 30 of the scurities are sold on July 1 for $32,00
The trial balance of the Trishia Company on December 31, 2010 (the end of its annual accounting period), included the following account balances before adjustments: Notes Receivable-$10,000 debit; Ins
Dobbs Wholesale Antiques makes all sales under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers. For orders rece
“Which of the following is the most appropriate and modern definition of accounting?
The interconnected network of subsystems necessary to operate a business.
Electronic collection, organiz”
“Each share of preferred stock is convertible into one share of common stock, and each bond is convertible into 25 shares of common stock.
Assume weighted-average outstanding shares of 92,700.”
Abis Corporation uses the weighted-average method in its process-costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage…
The effective interest on a 12-month,zero-interest-bearing note payable 0f $300,000, discounted at 10% is
Papa John’s vs. Dominos You are to select a US-based company and one of its competitors that are both publicly traded and therefore file reports with the SEC. The decision context is that of an inve…
“51. The following trial balance of Reese Corp. at December 31, 2012 has been properly adjusted except for the income tax expense adjustment.
Reese Corp Trial Balance December 31, 2012
Cr…”
Purchased a deliver truck 31000 on Jan 1 2010 with useful life of vehicle of 5 years and the estimated salvage value is 1000 and the company expects the automobile to be driven 200000 miles during its
The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchasing them. The equipm
Sylva Company had sales of $500,000, variable costs of $240,000, and direct fixed costs totaling $120,000. The company’s operating assets total $960,000, and its required return is 12%. How much is …
Attached is my assignment. Can anyone help? ASSIGNMENTChapter 21 – Intermediate Accounting Question 1 On December 31, 2010, Harris Co. leased a machine from Catt, Inc. for a fiveyear period. Equ…
“The carrying value of a long-term note payable:
Is computed as the future value of all remaining future payments, using the market rate of interest.
Is the face value of the long-term note”
Beachside Coffee Shop, in an effort to stream line its accounting system, has decided to utilize a Cash Receipts Journal in its operation. What will be recorded on the post ref column of this trans
47-On August 13, a CPA completed field work on an engagement to audit financial statements for the year ended June 30. On August 27, an event came to the CPA’s attention that should be disclosed in …
. A company is authorized to issue 50,000 shares of $50 par value, 8%, cumulative, fully participating preferred stock, and 750,000 shares of $5 par value common stock. Prepare journal entries to reco…
#NAME?
Individual Assignment: The Audit Report and Internal Control Evaluation . Resource: pp. 62-63 in Ch. 3 of Auditing and Assurance Services: An Integrated Approach . Evaluate the evidence provided by …
I need answers to #’s 5-9. I do well working problems backwards. From the solution. Then I don’t make mistakes figuring everything out reinforcing wrong behavior. The assignment is attached. Thanks Ac…
“20. Under the Documents of Title Article of the UCC, which of the following statements is(are) true regarding a common carrier’s duty to deliver goods subject to a negotiable bearer bill of lading?
…”
“nancial accounting problem 7-1A
Question Details
Scott and Quick are accountants for Millenium Computers. They disagree over the following transactions that occurred during the calendar year 2008.”
“I am working on a different problem now and was wondering if you could help. I am working on the Blades Case, in Chapter 11 of the 10th edition of International Finance text by Jeff Madura.
I am”
“Indicate where the event purchased land and a building with a mortgage would appear,if at all ,on the indirect statement of cash flows ?
A)Operating activities section
B)Investing activities section”
“Portfolio required return Suppose you are the money manager of a $4 million investment fund. The fund consists of 4 stocks with the following investments and betas:
Stock Investment Beta
A $ 400,00″
“South-Western Federal Taxation Comprehensive Volume 2010
Problem 2 APPENDIX E PAGES E5-E8″
Write a 500-700 word paper responding to questions 1 and 2 of the Candela Corporation Case
the high low level of activity last year was 60,000 units of product produced in May and 20,000 units produced in November. Machine maintenance costs were $39,000 in May and $15000 in November. usin
Problem 4 a.) Prepare a cost of production report for the Sifting Department for May. Footnote all calculations. ACC211 Accounting for Managers Exam #1 – Fall II Evenings 2011 Ms. Ann Marie Tromer P…
In January of 2004, Forrest and Bubba form Bubba-Gump Shrimp, a 50/50 partnership. Forrest contributes $10,000 and Bubba contributes a “shrimpin’ boat” with a $10,000 FMV and a $5,000 adjusted b…
“5 The January contribution format income statement of Brotherton Corporation appears below:
sales 179800
variable expenses 75400
contribution margin 104400
fixed expenses 75700
net operating inco”
You have calculated, using the high-low method, a variable cost per machine hour of $0.80 for your production power costs. Power costs at 6,000 machine hours are $5,400; at 9,000 machine hours, they a…
“All the following statements regarding a horizontal analysis are true EXCEPT:
A horizontal analysis is used to compare an item in a current statement with the same item in prior statements.
b”
“As corporate controller for Apollo Shoes you are tasked to find any irregularities in the case.
What procedures will be used to collect accounting evidence?
What sampling tools and techniques wi”
Parent Corporation acquired some of its subsidiary’s bonds on the open bond market, paying a price $40,000 higher than the bonds’ carrying value. How should the difference between the purchase price a
Acme Manufacturing is a decentralized corporation. Divisions are treated as investment centers. In recent years, Acme has been running about 11% ROA for the corporation as a whole, and has a cost of c…
..there is no mention of this company in the textbook… Instructor is basically saying that “I” own that company and are doing year-end financial statements…the three questions are then prov
“Investments in trading securities:
Answer
1)include only equity securities.
2)are reported as current assets.
3)include only debt securities.
4)are reported at their cost, no matter what”
“Answer True or False
It is important to learn the language of business in order to understand the impact of economic events on a specific company. _________
Common everyday terms have precise”
You have been hired as a new management trainees by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has d
“Chapter 10:Questions 1, 7, 8, and 19
Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia
correct? Explain.
(a) Wha…”
“Seahawk Inc. builds sailboats. On January 1, 2004, the company had the following account balances:
$40,000 for both cash and common stock. Boat 25 was started on February 10 and finished on May
“
Samson Company is a wholesaler of men’s hairproducts. The following transactions relate to certain securities by Samson Company, which has a fiscal year ending on December 31: 2006 Jan. 3. Purchased 4…
I need the answwer to Assignment 8 A and B in Apple Blossom Cologne Company 5th Edition by Jack Paul
Annie gives her son stock with a basis in her hands of $52,000 and a fair market value of $48,000. No gift tax is paid. Son subsequently sells the stock for $49,000. What is his recognized gain or
“Four professional general standards and responsibilities for Certified Public Accountants are quality control and assurance, professional judgment, competence, and:
knowledge
integr”
“The December 31, 2010 balance sheet of Wolfe Co. included the following items:
5% bonds payable due December 31, 2018 $1,200,000
Unamortized discount on bonds payable 48,000
The bonds were iss”
see the attach Shopko issues $175,000 of 9%, three-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $185,500. Their market rate is 8% at …
Construct a yield curve for Nabisco. Maturities must be 1, 5, 10, 20, 30 years.
“Which of the following is not a required segment reporting disclosure according to the International Financial Reporting Standards?
segment profit or loss
segment assets
segment liabilit”
Describe the process of preparing a trial balance. What is the purpose of preparing a trial balance? If a trial balance does not balance, identify what might be the reasons why it does not balance. If
northwood company manufactures basketballs.the company has a ball that sells for $25. the ball is manufactured in a small plant that relies on direct worker labors. variable costs are high, totalling
Earnings per share.Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond
Should Mr. Jones purchase the stock of Smith outright, leaving Smithon intact? What about issuing debt in his Johnson Services company to pay for the Smith company â would that raise debt to equ
Bjerg Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets
“1.
If substantial batch-level or product-level costs exist, then overhead allocation based on a measure of volume such as direct labor-hours alone:
a)
is a key aspect of the activity-based”
During 2008, Denson Manufacturing expected Job No. 51 to cost $450,000 of overhead, $750,000 of materials, and $300,000 in labor. Denson applied overhead based on direct labor cost. Actual production
jeff jones earns 1200 per week he is married and claims four withholding allowances. the fica rate is as follows social security rate if 6.2% on 97,500 Medicare rate is 1.4% to date his cululative wag
Flynn Inc. has two temporary differences at the end of 2012. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Flynn’s accounting …
“The controller for Yi Company wants to maximize the gross margin (gross profit) for the year, without violating any GAAP. Which of the following would accomplish this?
Defer paying suppliers unti”
“8. Small Industries has fixed costs of $ 100,000 and breakeven sales of $ 800,000. What is the firm’s estimated pre-tax profit at $ 1,200,000 sales?
$75,000
$50,000
$25,000
$ 5,0…”
“27) The EU Privacy Directive presents problems for the United States in that
data may not be transferred to a non-EU entity unless guarantees are provided that equal security measures are in”
Type youChapter 13: Case 13-36 Hood FurniturePPS Sampling Problem (Mt. Hood FurniturePPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory com…
On December 31, 2010, Superior, Inc. had 600,000 shares of common stock issued and outstanding. Superior issued a 10 percent stock dividend on July 1, 2011. On October 1, 2011, Superior reacquired
The management of International Cookwares believes that delivery performance measures must be improved if the company is to maintain its competitive edge. The following data are considered to be typic
I am attaching, hoping it goes to you to see if you can help me out. I will be working on it at the same time, I usually always work with a partner but they just dropped the class so I’m left without …
“Prepare a brief of no more than 750 words for Kudler Fine Foods management in which you address the following:
Evaluate the design elements of the data tables from an accounting perspecti”
Which of the following businesses would not report cost of sales on their income statements? A) A large law firm B) An automobile dealership C) A pizza restaurant chain D) A computer chip manufacturer…
I am currently working on case 12-28. Attached you will 3 attachments: brief reading, questions, and the excel templet.
“Company A and Company B have the same profit margin and the same total asset turnover, but company A has a higher return on equity. This may result from ____________
Company B has more comm”
“There is only one question in the document I submitted:
Examine the company’s statement of cash flows. Does Home Depot’s cash flow from operating activities appear adequate to cover its curren…”
A company’s January 1 goods in process inventory contained 30,000 units that were 1/4 complete with respect to direct labor. The beginning inventory was completed this year and another 120,000 units w
No, I attached all the questions….they are all just questions to be answered….doesn’t matter the limit of pages..just so long as you answer the questions that I attached…. EXERCISE 6-12. Problem…
Franco Company uses IFRS and owns property, plant and equipment with a historical cost of 5,000,000 euros. At December 31, 2011, the company reported a valuation reserve of 8,365,000 euros. At Decembe
“Why would an Allowance for Doubtful Accounts have a debit balance?
Compare the direct write-off and allowance methods of accounting for uncollectible accounts.”
Please discuss the most critical concepts involved with the International Financial Reporting Standards. Can certain steps be overlooked? Why or why not?
“The Patuxent Rail Company’s sales for the next three months are as follows:
February
$165,000
March
$170,000
April
$155,000
Collection history for the company indicates that 60% of”
“The risk-free rate is 6%; Stock A has a beta of 1.0; Stock B has a beta of 2.0, and the market risk premium, rM – rRF, is positive. Which of the following statements is correct?
(Points: 3)”
“Use the following to answer questions 1 – 5.
Updike Inc. has the following information for its product, Rabbit Redux:
Units produced this period – 1000
Direct Material – $10 per unit
..”
“The ledger of Thurston Rental Agency on March 31 of the current year includes these selected accounts before adjusting entries have been perpared.
Prepaid Insurance Debit $3,600
Supplies”
“use the appropriate information from the data provided below, prepare the income statement (with the appropriate sub-totals) for the year ended December 31, 2004:
Cost of goods sold $117,000
Gener”
“When credit terms for a sale are 2/15, n/40, the customer saves by paying the bill early. Approximately what percenatge would this savings amount to on an annual basis?
18%
20%
30%
“
“Users of financial statements have a different perception concerning the nature of auditors’ services than the actual objectives of an audit. This difference is known as
diverse liability percepti”
Jan Green established a savings account for her son’s college education by making annual deposits of $6,000 at the beginning of each of six years to a savings account paying 8%. At the end of the sixt
What is the difference between the “physical flow of goods” and the “flow of costs” through a company and would a company’s inventory costing method have to match the products actually sol…
“Use the following to answer questions 2 – 5:
Abracadabra Co. manufactures magic sets. The sales planned for next year are 22,000 sets. Beginning material inventory is sufficient to produce 5,000 set”
on april 1 2009 joy ltd sold a land for $100,000. the note will be colleccted as follows: $20,000 in 2009, $30,000 in 2010 and $50,000 in 2011. the property had cost yo $20,000 when it was purchased i
The Dynamaco Company uses cost-plus pricing with a 50% mark-up. The company is currently selling 100,000 units at $12 per unit. Each unit has a variable cost of $6. In addition, the company incurs
“(Equity Method)
Parent Co. invested $1,000,000 in Sub Co. for 25% of its outstanding stock. Sub Co. pays out 40% of net income in dividends each year.
Instructions
Use the information in the fol”
in an adverstisers records, a newspaper ad submitted and published this week with the agreement to pay for it next week would
under what conditions might the auditors omit testing the effectiveness of control procedures?
Adams Brothers Outdoor Adventures currently owns a 12-passenger van that is used to transport clients to and from its outdoor adventure sites. The van was purchased 4 years ago at a cost of $20,000. A
attachment BE13-4 On June 1, Mendoza Inc. issues 3,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 …
Peyton Company payroll for the year is $737,910 of this amount, $472,120 is for wages paid in execess of $7,000 to each individual employee. The SUTA rate in Peyton company’s state is $2.9% on the fir
Describe the accounting for direct costs, indirect costs and issuance costs under: (1) The pooling-of-interests method; (2) The purchase method; and (3) The acquisition method. Be specific for each it…
“Explain how both a stock split and a stock dividend affect the computation of the weighted average number of shares outstanding.
Answer
Please need 200 words”
Managerial accounting emphasizes short-term profit analysis, so the income statement is very important. Consequently, we’ll examine and discuss income statements in this first case. The assignment f…
“1. How does the current system capture manufacturing costs and assign them to products? (Prove the overhead rate is 105% of material cost).
Calculate the volume-based (traditional) cost per reel”
“Browning Inc. production budget for Product X for the year ended December 31 is as follows:
Product X
Sales 640,000 units
Plus desired ending inventory 85,000
Total 725,000
Less estimated begi”
“Need assistance on following multiple choice questions.
Please send answers to carin_mccrae@yahoo.com Thanks
Assume that a gov’t entity has, in addition to the General Fund, four other governme”
Braeburn issues $2,500,000 of 8%, 15-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. (a) Prepare the January 1, 2009, journal entry to record the bonds’ is…
When a CPA is associated with financial statements that do not comply with promulgated GAAP because the statements would be misleading without the departure, the CPA is not required to disclose 15. A.
“6.Which one of the following characteristics of preferred stock would make the stock resemble a liability?
A)The preferred stock is callable.
B)The preferred stock is convertible.
C)The preferre”
Given the following information for Evenflow Power Co., the WACC is_______________ Assume the company’s tax rate is 33 percent. (Do not include the percent sign (%). Round your answer to 2 d
Montana Woolen Products has two divisions: a Fabric division that manufactures woolen fabrics, and a Clothing division that manufactures woolen dresses, coats, shirts, and accessories. All fabric used
“Missouri company has a current production capacity level of 200,000 units per month. At this level of production, variable costs are $0.50 per unit and fixed costs are $0.50 per unit. Current monthly
Larry Corporation purchased a new precision casting machine for its manufacturing facility. The machine cost $2 million, and another $150,000 was spent on installation. The machine was placed in servi
“Timmons Corporation is considering three long-term capital investment proposals. Relevant data on each project are as follows.
Project
Brown Red Yellow
Capital investment”
The excess of the issuance price over the stated value of a no-par common stock should be credited to the Answer A. Retained Earnings account. B. Common Stock account. C. Treasury Stock. D. Additi…
What factors as the auditor of record, should you consider in deciding whether to issue a qualified or an adverse opinion in your final audit report?
“Producing more nonbottleneck output (Points : 5)
creates more inventory and increases throughput contribution.
creates less pressure for the bottleneck workstations.
allows fo”
“Net Operating Losses
Assume the following facts:
2005 taxable income (modified) $19,000
2006 net operating loss ($24,000)
2007 taxable income (modified) $24,000
2″
“All A’s company (a calendar year company) purchased a debenture of High Rate, Inc. on 4/1/CY (cy=current year)
Face $100,000
Interest Pymt Semi-Annual
Coupon 6%
Aniversary 1/1/2010
Term 4yrs
Pu”
“””SECTION I – MULTIPLE CHOICE (Choose your response from one of the possible answers provided)
Which of the following is not a tort?
breach of contract
Negligence
gross negligence
Fraud”
“I wasn’t sure if you would be willing to workd on the assignment or not; I have comple most of it.
here is what I havn’t complete yet, so tell me how much you are willing to take for. This is urgen”
see the attachement On October 29, 2008, Bram Co. began operations by purchasing razors for resale. Bram uses the perpetual inventory method. The razors have a 90-day warranty that requires the compan…
“1. On December 31, 2009 Colonial Corporation had the following account balances related to credit sales and receivables prior to recording adjusted entries:
Accounts receivable $25,0″
Cash Budget Problem for Exam #3, Managerial Accounting 201-06 Background CBC Company sells specialty computer chips to various manufacturers. The controller, Mr. Mercken, has instructed you as the sen…
“In accordance with the debit and credit rules, which of the following is true?
Debits increase assets
Debits increase both assets and capital
Credits increase assets
Credits”
Adler Company is considering purchasing new equipment for $417,700. It is expected that the equipment will produce annual net income of $13,690 over its 7-year useful life. Annual depreciation will be
“b) The profit margin for Domino’s is 5.6% and is computed by Net Income / Revenue, 87,917/1,570,894. A profit margin of 5.6% means that for each dollar of sales that Domino’s generates it is contri…”
“anheuser-busch companies, inc., reported the following operating information for a recent year (in millions):
net sales 15,717.1
————————————-
cost of go”
“Please refer to attachment. Thank you for your help.” Assignment 1-3 Worksheet Part I: A. Calculate the following ratios for East Coast Yachts and compare them to those for the industry: Liquidity or…
“””Comprehensive Problem. Heintz and Parry. College Accounting 19th Edition.
PERIOD 1
The Account Cycle
Bob night opened “”The general’s favorite Fishing Hole”” The fishing camp is open from April”
What is the significance of goodwill in the consolidation process
“Ryan had the following capital gains and losses for 2010: $6000 STCL, $5000 28% gain, $2000 25% gain, and $6000 0% gain. Which of the following is correct:
The net capital gain is composed of $100″
The allowance for uncollectible accounts currently has a debit balance of $200. The company’s management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. W
“1. Alonzo Co. acquired 60% of Beazley Corp. by paying $240,000 cash. There is no active trading market for Beazley Corp. At the time of the acquisition, the book value of Beazley’s net assets was $300”
“The primary purpose of a fund is
To segregate an organization’s resources according to the purpose(s) for which they are to be used.
To provide expenditure authority for a government or not-fo”
see the attach At September 30, the end of Chan Company’s third quarter, the following stockholders’ equity accounts are reported. Common stock, $14 par value Paid-in capital in excess of par valu…
“E18-3 (Installment Repossession Entries) Selected transactions of TV Land Company are presented below:
A television set costing $540 is sold to Jack Matre on November 1, 2010, for $900. Matre makes”
“Return on total assets measures a company’s ability to:
Answer
1)produce net income from net sales.
2)produce sales from net assets.
3)produce net income from net assets.
4)increase its”
The United Arab Emirates (UAE) has a fixed exchange rate with the United States but not the U.K. No matter what the inflation is in these three countries, the exchange rate remains AED 3.78/$. This me
“1.) A company purchases 300 shares of its $100 par value common stock at $110 per share. It then reissues 50 shares at $114 per share. The entry upon reissue of the stock would include a credit to
A”
Obtain McDonald’s Corp audited financial statements for the last three years. Otherwise, review them for the last two years.
“for which of the following would bond discount or premium be amortized?
A)bonds issued:no;bonds held as investments:no
B)bonds issued:no;bonds held as investments:yes
C)bonds issued:yes;bonds hel”
Company produces a single product. Last year, the company’s net operating income under absorption costing was $4,400 lower than variable costing. The company sold 8,000 units during the year, and …
“8. T /F There is a presumption which exists that once a company adopts an accounting principle, it should not change. If false please explain.”
DeArmond Corporation has budgeted sales of 18,000 units, target ending finished goods inventory of 3,000 units, and beginning finished goods inventory of 900 units. How many units should be produced n
Suppose a company uses machine hours as a cost-allocation base for factory overhead. How does the company compute a budgeted overhead application rate? How does it compute the amounts of factory overh
Haig Aircraft is considering a project that has an up-front cost paid today at t = 0. The project will generate positive cash flows of $60,000 a year at the end of each of the next five years. The pro
The first and last years of MACRS depreciation deductions for a 5-year asset costing $10,000 using the half-year convention are: 1. $2,000 and $2,000 2. $2,000 and $1,152 3. $2,000 and $576 4. $2,0…
“If the fair value of an available-for-sale investment declines for a reason that is viewed as “”other than temporary””,
the investment is not written down to fair value.
the investment is writt”
Why is money laundering considered a serious criminal activity if it only involves the transfer of money from one location to another?
see the attachement Austin Company began year 2009 with 33,000 units of product in its January 1 inventory costing $17 each. It made successive purchases of its product in year 2009 as follows. The co…
I need help with P 4-2 I’m sending you attachment this is the only problem I need help with Thanks for any help you can give
“The Golden Gate Company had the following Sales and Expenses during its first year of operations:
Freight in $30,000
Purchases $75,000
Advertising $35,000
Salaries – Sales staff $90,000
Sales $…”
Suppose Harry Davis issues 30- year debt with a par value of $ 1,000 and a coupon rate of 10%, paid annually. If flotation costs are 2%, what is the after- tax cost of debt for the new bond issue?
“The December Eurodollar futures contract is quoted as 98.40 and a company plans to borrow $8 million for three months starting in December at LIBOR plus 0.5%.
What rate can then company lock in”
When a firm purchases supplies for use in its business, and the cost of the supplies purchased is recorded as an asset, the following adjustment to recognize the cost of supplies used will probably be
“You need to prepare a memo (GA-5) addressing materiality for Apollo Shoes. Remember that the workpapers document that we are following Generally Accepted Auditing Standards. In the memo,
Briefly d”
On January 1, 2009, Jason Company issued $4 million of 10-year bonds at 8% stated interest rate to be paid annually. Calculate the issuance price if the market rate of interest is 10%.
Homework due by 10:00 p.m. – 20 multiple choice – 5 true and false – on stocks, stock valuation, stock market equilibrium, cost of capital, the basics of capital budgeting, dividend payout
The Question is “Legal Stars has four employees. FICA Social Security taxes are 6.20% of the first $106,800 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, its FUTA taxes
What is the maximum amount at which inventory can be valued when the goods have experienced a permanent decline in value?
Answer all the question in the attachment spreadsheet 15 Points Seebach corporation Income Statement 15 Points Margin = 30,000,000 8,000,000 3.75 Turnover= ROI Residual = 1,170,000 30,000,000 0.039 = …
Examine the GAO’s goals and operations, including the agency’s responsibilities, core values and accomplishments.
explain the net revenue approach to revenue recongnition employed in general fund and special revenue fund (and other governmental fund) accounting and reporting, including why it is used.
“The sale of tax-supported bonds at par for the eventual construction of a new city jail would require recognition in which of the following funds and/or activites?
A debt service fund, capital projec”
What is meant by aging of accounts receivables, and how can it be usefully applied?
Berkley Company, a manufacturer of many different products, changed its inventory method from FIFO to LIFO. The LIFO method was determined to be preferable. In addition, Berkley changed the residual v
If a gain of 9000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activites section of the amount of cash …
“Which one of the following is a correct definition of an Ibbotson and Sinquefield investment category as used to report historical returns in your textbook?
S. Treasury bills: 1-year debt”
“VI. The Comet Company received a seven year, noninterest bearing note on February 28, 2010 in exchange for property it sold to the Franco Company. There was no established exchange price for this”
. Northern Company is preparing a cash budget for June. The company has $12,000 cash at the beginning of June and anticipates $30,000 in cash receipts and $34,500 in cash disbursem*nts during June. No
“The Wiley Department Store is located near the Village shopping mall. At the close of the year ended December 31, 2007, the following accounts appeared in two of its trial balances.
Trial Bala”
“Comprehensive Problem 1 Period 2 The Accounting Cycle
Assets Revenues
101 Cash 401 Registration Fees
122 Accounts Receivable 404 Vending Revenue
142 Office Supplies
144 Food Supplies Expens”
Could you please solve these problems? Problem 2 Selected ledger accounts of Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead ___________________________…
Paige Candy Company offers a coffee mug as a premium for every ten 50-cent candy bar wrappers presented by customers together with $1.00. The purchase price of each mug to the company is 90 cents; in
you are 35 years old, and you decide to save$5000 each tear( with first deposit one year from now), in an account paying 8% interest per year. you will make your last deposit 30 years from now when y
In what respects is this brief analysis incomplete for audit purposes?
I’m preparing the cash flows from operating activities section of the statement of cash flows, and I’m trying to determine the amount of cash paid for salaries. I have the following information: The s…
“P10-4 Comparing Bonds Issued at Par, Discount, and Premium (Straight-Line Amortization) LO2, 3, 4
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bo”
One idea that the consultant had was to reduce prices to bring in more customers. If average prices were reduced ten percent (10%), and the number of sales tickets (unit sales) increased to 7,500, wou
The October 5, 1998 issue of business week includes the article “who can you trust?” authored by Sarah Bartlett. Among other dubious accounting practices, the article describes a trick known as th…
Does McDonald’s Corp. use e-mail for marketing notifications to customers? Please provide references.
your client, Harper company, has a contractual commitment as a part of a bond indenture to maintain a current ratio of 2.0. if the ratio falls below that level on the balance sheet date, the entire bo
. The purchase price was $25, the selling price is 38, estimated cost to complete is $5.8, the replacement cost is $21.8 and the normal profit margin as a percentage of selling price is 25%. The v
Kim is the sole shareholder and CEO of KimTech, Inc., a technology company valued at approximately $5,000,000. KimTech is a C corporation for federal tax purposes. In 2007, KimTech had net pretax
“6. Which type of retirement plan would not be available to a corporation with 3,000 employees?
ESOP
401(k)
SIMPLE plan
Profit sharing plan”
At the current year, Accounts Receivable has a balance of $700,000; allowance for Doubtful Accounts has a credit balance of $5,500;and net sales for the year total $3,500,000. Bad debt expense is esti
On March 1, 2004, A Company purchased for $5,000 a two-year certificate of deposit that paid 6 percent annual interest. On December 31, 2004, the adjusting entry to record accrued interest would
Belle opens an investment account on April 1, 2011. At that time she deposits $2,500 into her account. The account will earn 5% annually. If she repeats this deposit for the next 14 years, how muc
Weaver, Inc. has budgeted direct materials purchases of $150,000 in March and $240,000 in April. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and t
Elite Kitchenware has come out with a new line of dishes that it plans to test market through a series of demonstrations at the local mall throughout the month of August. If the demonstrations result
“Which of the following best describes the auditors’ typical observation of plant and equipment?
The auditors observe a physical inventory of plant and equipment, annually
The auditors obser”
Caldwell Corporation sold a factory building for $300,000. The building originally cost $600,000 and had an adjusted basis of $200,000 due to the $400,000 depreciation taken when it was sold. What
“””Acquiring Corporation (A) has 50,000 shares of common stock outstanding (value — $10 per share) and
$500,000 of accumulated earnings and profits. Target Corporation (T) has assets with an aggregate”
Julie Molony opened Julie’s Maids Cleaning Service Inc. on July 1, 2008. During July, the company completed the following transactions. July 1 Issued $14,000 of common stock for $14,000 cash. 1 Purc…
IFRS uses a fair value test to measure impairment loss. However, IFRS does not use the first-stage recoverability test under U.S. GAAP – comparing the undiscounted cash flow to the carrying amou…
attached BE13-4 On June 1, Mendoza Inc. issues 3,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 pe…
How is preferred stock reported for IFRS when it is redeemable at the option of the issuer? a. As a liability b. As mezzanine equity c. As temporary equity d. As equity e. None of the above
A key internal control in the sales and collection cycle is the separation of duties between cash handling and record keeping. The objective most directly associated with this control is to verify …
“Following information is Gum Company for the month of March:
# of Units Cost of Materials
Beginning work in process”
(Learning Objective 1: Reporting payroll expense and liabilities) Potvin Talent Search has an annual payroll of $160,000. In addition, the company incurs payroll tax expense of 9%. At December 31, Pot
Acme Manufacturing is a decentralized corporation. Divisions are treated as investment centers. In recent years, Acme has been running about 11% ROA for the corporation as a whole, and has a cost
“1.) Royer Corporation engaged in this transaction:
Purchased one-year insurance policy for cash.
Indicate which section, if any, each transaction would appear in, or relate to, on a statement of”
“Willis and Hoffman, Maloney, Raabe, (2010). South-Western Federal Taxation: Comprehensive Volume
Comprehensive problem 2.
Celeste A. Hart, age 45, is single and lives with her dependent mother”
Internal control risks which have been identified within Apollo Shoes
Financial Statement Case Amazon.com’s financial statements in Appendix A at the end of this book reveal some interesting relationships. Answer these questions about Amazon.com: 1. What is most unusu…
Miller and Davis, partners in a consulting business, share profits and losses in the ratio of 3:2, respectively. Prior to recording the admission of Shaw as a new partner, Miller has a capital balance
Question For each of the numbered items, choose the appropriate classifications from the lettered items for a manufacturing company. If in doubt about whether the cost behavior is basically variabl…
explain the nature and purpose of the reserve for encumbrances account (a) during the year and (b) at year end.
some questions in smithville 1. [Para. 7-b-1] Billings to customers of the Solid Waste Disposal Fund totaled $1,890,800 for the year, including $13,700 billed to City of Smithville departments account…
“How do the provisions of SFAS No. 123(R) differ from the bill introduced by members of Congress
(Dreier and Eshoo), which would require expensing for options issued to only the top five officers
in”
“19) Which two governmental funds are commonly used to acquire capital assets?
General Fund & Capital Projects Fund
Capital Projects Fund & Debt Service Fund
General Fund & Deb”
. The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V. Ace, Capital account was $54,500 on June 30 of the prior…
Assistance please with attached cost accounting problem 10-38 Margins and Turnover Accountants often express ROI as the product of two components—capital turnover and return on sales. You are consid…
On October 10, 2005, Mason Engineering Company completed negotiations on a contract for the purchase of new equipment. Under the terms of the agreement, the equipment may be purchased now or Mason may
“AMR Stockholders Equity
AMR Corporation has outstanding 2,000,000 shares of common stock of a par value of $10 each. The balance in its retained earnings account at January 1, 2007, was $24,000,000,”
In a service organization, accounting charges overhead to jobs based on hours worked on the job. Actual overhead incurred is $15,000. Actual hours worked for client A is 200 hours, for client B is 100
“The shocking demise of Mr. Thorndike.” It was one of Morse’s most puzzling cases. That morning Rupert Thorndike, the autocratic CEO of Thorndike oil, was found dead in a pool of blood on his bedroom
“. As a general rule, revenue is normally recognized when it is
measurable and earned.
measurable and received.
realizable and earned.
collected (the cash is received).
“
“Please help me solve this problem. I don’t just want the answer, I would like to know how to solve the problem. Thanks!
“”The Clark Company makes a single product and uses standard costing. Some”
A newspaper ad submitted and published this week, with the agreement to pay for it next week would, in the newspaper’s records: Increase assets and increase revenues
“8-4
What is the distinction between equivalent units under the FIFO method and equivalent units under the weighted-average method?”
the Whiner Corporation had net income of $150,000 during 2008, with 10,000 shares of common stock outstanding. It also had 1,000 shares of nonconvertible 5%, $100 par preferred stock, and $25,000 par,
re submit Assignment 5 BE5- 10 Hawthorn Corporation’s adjusted trial balance contained the following accounts at December 31, 2010. Retained Earnings $120,000; Common Stock $750,000; Bonds Payable $…
“McIntosh Enterprises produces giant stuffed bears. Each bear consists of $12 of variable costs and
$9 of fixed costs and sells for $45. A wholesaler offers to buy 8,000 units at $14 each, of which
M”
“Prepare written answers for the following assignments from Ch. 1, 2, & 7 of Financial Accounting:
Chapter 1:
Exercise E1-1
Exercise E1-5
Exercise E1-12
Exercise E1-13
Chapter 2:
Exercis”
Gold Coast Supplies had 80,000 shares of common stock outstanding at January 1. On May 1, Gold Coast Supplies issued 21,500 additional shares of common stock. Outstanding all year were 30,000 shares
Please see question in the picture format ( scanned)
How are accounting policies defined in the literature of the FASB Accounting Standards Codification? Thank you and I will be sure to leave positive feedback.
On January 10, 2007, Maxim Corporation acquired equipment for $124,000. The estimated life of the equipment is 3 years or 24,000 hours. The estimated residual value is $10,000. What is the depreciatio
“Assume the following cost information for Janice Company:
Selling price per unit $144
Variable costs per unit”
Attach Assignment At December 31, Penny Corporation has total stockholders’ equity of $5,500,000. There are no shares of preferred stock outstanding.At year-end, 250,000 shares of common stock are o…
An owner takes $35,000 out of his business as a salary for 2009. Compare the income and FICA or self-employment tax burdens of an individual who owns a business that has operating income of $60,
T/F The Cash Flow Statement gives you the answer to the question, you need to develop the question that it answers. If false please explain.
“Assume the following comments were recently overheard at an international management accounting conference. For each group of comments below, state whether or not you agree with each set of comments,
“Prepare justifications for substantive procedures by using the Apollo Shoes Casebook for detecting irregularities in each of the following audit cycles for accounts receivable.
The makeup of this”
“Problem 1
Blue Ridge Company manufactures a product that sells for $60 per unit. Blue Ridge incurs a variable cost per unit of $38 and $4,128,000 in total fixed costs to produce this product. It is”
“When a governmental entity is decreasing the fair market value of an investment, the appropriate debit would
be to
Investment income.
Loss on investments.
“
A company had 130,000 shares of common stock outstanding on January 1 and then sold 30,000 additional shares on March 30. Net income for the year was $495,625. What are earnings per share?
“Teresa wons a condominium in Florida. During the current year, she incurs the following expenses related to the property:
Mortgate interest: $10,200
Property taxes: $1,500
Utilities: $800
Mai”
“1. Patent laws (Points: 1)
reduce incentive to innovate by restricting market entry
reduce incentive to innovate by making it difficult to use the patented innovation
incr”
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: DMG 5018 – TUTORIAL 6 Exercise 3 Lynch Company manufactures an…
On January 1, 2010, Fishbone Corporation purchased 300 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2020, and pay interest annually beginning January 1, 2
Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manufactured by Lollie Corp. The machine can be used for 10 years and then so
Outram Corporation is presently making part 114 that is used in one of its products. A total of 8000 units of this part are produced and used every year. The company’s Accounting Department reports
Frank Caster and George Wilson were equal partners of the F&G partnership, which reported its income on a fiscal year ending September 30. For fiscal year 2009-2010, the partnership’s ordinary incom…
“Use the following information to solve the Questions 1, 2, and 3 below:
The treasurer of Simmons Corporation, a newly formed software company, is trying to ascertain Simmons’s cash flows for the n”
“When the amount of interest receivable decreases during an accounting period:
accrual-basis interest revenues exceed cash collections from borrowers
accrual-basis net income exceeds cash-bas”
Sherman Company has a cash balance on January 1 of $123,219. Given the following data, compute Sherman’s budgeted cash balance on March 31. Round all amounts to the nearest dollar. Past and budgeted…
LLC enjoys the benefits of corporation and partnerships. What about the disadvantages for the LLC form?
“The Lake Shore Inn is trying to determine its break-even point. The inn has 50
rooms that it rents at $60 a night. Operating costs are as follows.
Salaries $7,200 per month
Utilities $1,500 per mon”
The case questions are attached. The recommendation should be around 500-600 words. please, help me
When an income statement shows data for segments of the organization, and data for each segment are added together to get totals for the whole organization:
What are the differences between fair value cash flow and foreign currency hedges?
“Rich, Inc. acquired 30% of Doane Corp.\’s voting stock on January 1, 2010 for $400,000. During 2010, Doane earned $160,000 and paid dividends of $100,000. Rich\’s 30% interest in Doane gives Rich the
“TAX STRATEGY PROBLEM
Pedro Bourbone is the founder and owner of a highly successful small business and, over the past several years, has accumulated a significant amount of personal wealth. His portf”
All costs are either fixed or variable. The only difficulty in cost analysis is determining which of the two categories each cost belongs to.Do you agree? Please explain.
“. In its Statement of Net Assets, a government reported:
assets of $90 million, including $30 million in capital assets (net), and
liabilities of $50 million, including long-term debt…”
see the attachment Rusio Company’s adjusted trial balance on August 31, 2009, its fiscal year-end, follows: Debit Merchandise inventory Other (noninventory) assets Total liabilities Common stock Ret…
“Prepare journal entries to record the following transactions and events of Kodan Company.
2008
2 Purchased 30,000 shares of Goreten Co. common stock for $408,000 cash plus a broker’s fee of $3″
Explain why the overhead cost related to website optimization was first divided into two categories (unframed prints and framed prints) and then allocated based on number of prints.
There isn’t a $35 in the drop down, only $30 and $40, please advise
“The bank portion of the bank reconciliation for the Fixar Company at January 31,2010 is as follows:
FIXAR COMPANY
Bank Reconciliation
January 31, 2010
Cash balance”
“Nature of retained earnings
Prepare an opening balance sheet of
Cash – $1,500
Paid-in-capital – $1,500
Purchase inventory for $500 cash. Prepare a balance sheet. A heading is unnecessary”
On September 1 of the current year, Mario Irrevocably transfers a $ 100,000 whole life insurance policy on his life to Mario, Jr. as owner. On September 1, the policy’s interpolated terminal reserve…
Shannon Inc. has been manufacturing its own shades for its table lamps. The company is currently operating at 100% of capacity. Variable manufacturing overhead is charged to production at the rate of
J-Mobile provides cellular phone and Internet services with a plan that provides up to 1,000 minutes of airtime usage for a flat rate of $99.99 per month plus a charge for any minutes used over this a
Orono Corp.’s sales last year were $435,000, its operating costs were $362,500, and its interest charges were $12,500. What was the firm’s times interest earned (TIE) ratio?
“All of the following relate to the balanced scorecard’s learning and growth perspective
How do we achieve greater employee satisfaction?
What new products do we create?
How do we provide”
It turns out I will need to turn this in by Tuesday, May 25, 2010 before midnight. Do you think you can take a look at this?
“The following transactions were completed by Hobson INC., whose fiscal year is the calendar year:
2010
July 1. Issued $10,000,000 of 10-year callable bonds dated July 1, 2010, at an effective rate”
In this module you are going to have your final application to your organization. Identify a decision that has recently been made or will be made in the near future in your organization. Identify two
Superior Medical System’s 2005 balance sheet showed total common equity of $2,500,000. The company had 110,000 shares of stock outstanding which sold at a price of $56 per share. By how much did the f…
Complete David and Lauren’s tax return for the year. Make all computations (including any special elections required) to minimize the Hammacks’ tax liability based on current tax law. Please compl…
E8-13 Lane & Bookstore has a liberal return policy. A customer can return any product for a full refund within 30 days of purchase. When a customer returns merchandise, Lane & Goble policy specifies:
I am struggling with this whole problem. Don’t even know how to start. Thanks PROBLEM 8-16A Comprehensive Variance PROBLEM (LO1, LO2, LO3, LO4) CHECK FIGURE (1) Standard cost: $33.75 (3) 2.70 yards pe…
Stock A has an expected return of 10% and a beta of 1.0. Stock B has a beta of 2.0. Portfolio P is a two-stock portfolio, where part of the portfolio is invested in Stock A and the other part is inves
39 multiple choice questions governmental and non profit accounting 1) Under GASB rules for the financial reporting entity: A. component units must be reported in columns (discrete presentation) separ…
Real Life Fraud – Describe a fraud that you have personal knowledge of. Two or Three Paragraphs No Word Limit.
Assume that December 31 forecast shows the estimated uncolecti le accounts to be $27,860 for the next year. The Allowance for Doubtful Accounts current shows a debit balance of $1,575 also on December
Acme Manufacturing is a decentralized corporation. Divisions are treated as investment centers. In recent years, Acme has been running about 11% ROA for the corporation as a whole, and has a cost o
A firm had 600 units in process inventory at the beginning of a month. Of these units, 30% were complete with respect to labor, materials, and overhead during the month. It had 500 units of which 40
Cruise Division of Harold’s Company’s operating results include: controllable margin, $200,000; sales $2,200,000; and operating assets, $800,000. The Cruise Division’s current ROI is 25%, the mi…
“Question 1
Record the following transactions on the books of Kenney Co. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)
On July 1 Kenney Co. sold merchan”
Adco*ck Corp. had $500,000 net income in 2007. On January 1, 2007 there were 200,000 shares of common stock outstanding. On April 1, 20,000 shares were issued and on September 1, Adco*ck bought 30,000 s
“Canine Company produces and sells dog treats for discriminating pet owners. The unit selling price is $10, unit variable costs are $7, and total fixed costs are $3,300. What are breakeven sales?
A)”
A retail hardware store was organized on January 1, 2010. Its taxable income in the first year is $300,000. It makes no distribution to its shareholders during that year of during the first 2.5 months
Kahil exchanges a press that is used in his business for another press. The old press had an adjusted basis of $5,000 and the new press has a fair market value of $30,000. What is Kahil’s recognized g
A corporation issues for cash $2,000,000 of 8%, 15-year bonds, interest payable annually, at a time when the market rate of interest is 7%. The straight-line method is adopted for the amortization of
“Calculating WACC
Shadow Corp. has no debt but can borrow at 6.5 percent. The firm’s WACC
is currently 10.4 percent, and the tax rate is 35 percent.
What is Shadow’s cost of equit…”
The bank account as a control device that helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement r
“xacc/280 week 4
CheckPoint: Subsidiary Ledgers and Special Journals
Explain in 250 to 300 words, your answers to the following:
What are the advantages of the four different special …”
Mark’s business was in financial trouble. Six months prior to filing bankruptcy, he transferred some assets to his brother’s corporation in exchange for some stock to be issued after bankruptcy. The t
Betty, a single taxpayer with no dependents, has the gains and losses shown below. Before considering these transactions, Betty has $45,000 of other taxable income. What is the treatment of the gains
Lorikeet Corporation acquired a 80% interest in Nectar Corporationon January 1,2000 at a cost equal to book value and fair value. In the same year Nectar sold land costing $30,000 to Lorikeet for $50,
“Durham Inc. is preparing its annual budgets for the year ending December 31, 2010. Accounting assistants furnish the following data.
Product LN 35 Product LN 40
Sales budget:
Antic”
need this answer by 2.30 pm if possible Pacific Airlines has three service departments; ticketing, baggage handling, and aircraft maintenance. Costs of these departments are allocated to two revenue p…
“””1. Learning Team Assignment: Audit Sampling Case Memo
Resources: Modern Auditing: Assurance Services and the Integrity of Financial Reporting.
Prepare a 1,400- to 1,750-word memo to the A…”
“AC 550
Project 2
Part 1 Gross Profit Method
Horton, Inc. suffered an inventory loss due to a flood. The following information is available to you.
Beginning inventory $100,000
Net purchase”
On October 5, Lane Company buys merchandise on account from O’Brien Company. The selling price of the goods is $6,710, and the cost to O’Brien Company is $3,170. On October 8, Lane returns defecti
Need entire Chapter 7 answers for 2010 Payroll Accounting
“Lessee accounting—capital lease.
Eubank Company, as lessee, enters into a lease agreement on July 1, 2010, for equipment. The following data are relevant to the lease agreement:
The term of t…”
“1. What is a company’s functional currency?
The currency of the primary economic environment in which it operates.
The currency of the country where it has its headquarters
The currency …”
“Four Oaks Golf Inc. was organized on July 1, 2010. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown here.
FOUR OAKS GOLF INC.”
Milsap corporation reported total assets of $2,500,000, total current liabilities of $900,000, and total long-term liabilities of $800,000. Therefore, the stockholders’ equity was
“Word limit is however much it takes to answer question, not more than a page.
Can you gather information from Applebees Restuarant? Please compile important information from the last three year”
Taxpayer receives stock as a gift from his uncle. The adjusted basis of the stock is $20,000 and the fair market value is $37,000. Taxpayer trades the stock for bonds with a fair market value of $35
In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production? (Points
“You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest retained”
“Assume that on September 1 Office depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September these transactions occurred.
6″
Hello, This’s a managerial accounting case problem. Please just solve the Charley’s (B)’s question #3 (This case has two stories (A) and (B), don’t need to solve any questions in (A)). Please explain …
On January 1, 2010, Doone corporation acquired 60 percent of the outstanding voting stock of Rockne company for 300,000 consideration. At the acquisition date, the fair value of the 40 percent noncont…
“Which of the following Statements is true regarding the sale of a partnership interest?
The selling partner’s share of partnership liabilities is disregarded in determining the gain or loss on”
Bonds that mature at different dates with the result that the entire principal amount is repaid gradually over a number of periods are known as:
The MACRS allows the company to defer tax payments to the future. What is the rationale for deferring the tax payments?
The Corbit Corp. sold merchandise for cash, $7,200. The cost of the merchandise sold was $3,950. The journal entry(s) to record this transaction would be 1. Cash 7,200 Sales 7,200 Cost of Merchandise
“Hoyt rented office space two years ago to Harris, receiving the first and last months’ rent plus a
security deposit of $2,400. In early January of this year, Harris moves and Hoyt refunds $1,050 of”
“1. Which of the following distinguishes governments from nongovernmental not-for-profit organizations?
Absence of profit motive.
The power to enact and enforce a tax levy.
Resource provid”
“Based on your readings, do you agree with the notion of value costing for the 21st Century organizations. Why or Why Not?
Also based on the above article and other readings, why types of situations”
“2) Company ABC purchased equipment worth 11.1M Euros from an Italian co
at the beginning of the year. The transaction was denominated in Euros. The
exchange rate at the time was US $1.40 = 1 E”
Beeman Corporation estimates that a 3% increase in retained customers is estimated to cause the organization’s gross margin ratio to increase by 2.4%. Beeman’s current sales are $20,000,000 and the co
“Smith and Jones each own tracts of land. Because of the location of their current operations, each would prefer to have the other’s land. Smith and Jones agree to exchange tracts. Jones pays Smith
“Effective annual interest rate:
Your credit card agreement states that interest on any outstanding balance is computed monthly and at a rate of 1.25% on the outstanding balance. What is the effecti”
The costs of staffing and operating the accounting department at Central Hospital would be considered by the Department of Surgery to be: direct costs; indirect costs; incremental costs; or opportuni
Neeley Company incurs the following expenditures in purchasing a truck: cash price $30,000, accident insurance $2,000, sales taxes $1,500, motor vehicle license $100, and painting and lettering $400.
“8. Errors and irregularities are defined as intentional distortions of facts.
Errors Irregularities
A) No Yes
B) No No
C) Yes No
D) Yes Yes
On December 31, 2011 Dean Company chang”
Readings •Read Ch. 8 & 9 of Core Concepts of Accounting Information Systems. •Read Ch. 3, 4, & 6 of Core Concepts of Information Technology Auditing. 9.Individual Assignment: Internal Control a…
Review the Regression Help document Estimate the revenue, receivables, inventory, or payables of a stock. Find their financial data at http://finance.yahoo.com/ calculate a projection for the next 12
“Edmondson Inc. produces and sells a single product. The selling price of the product is $200.00 per unit and its variable cost is $50.00 per unit. The fixed expense is $205,500 per month
The break-e”
Could i please get help with the attached assignment? The Case: Universal Chemicals In November 2005, Tom Smith, general manager of Universal Chemicals, received a letter from the Coastal Pipeline Com…
During the first year of operations, employees earned vacation pay of $35,000. The vacations will be taken during the second year. The vacation pay expense should be recorded in the second year as t
“5. Compare all transactions recorded for 4 days before and after the balance sheet date with related receiving reports and vendor’s invoices to determine the appropriate recording period.
..”
Consider the following statements regarding traditional costing systems
Baker Co. has two departments (Processing and Packaging) and uses a job order costing system. Baker applies overhead in Processing based on machine hours and on direct labor cost in Packaging. The f
I need assistance with answering the following questions. Please provide detailed explanations. Advanced Cost Accounting 1) Promoting the idea of continually finding ways to help organizations make th…
Overhead is applied on the basis of direct labor hours. Three direct labor hours are required for each product unit. Planned production for the period was set at 8,000 units. Manufacturing overhead fo
“””Use the following information to answer questions # 7 through 15
Enron Corporation
Balance Sheet
12/31/XX
(in thousands of dollars)
Cash $ 150 Accounts Payable $100
Accounts Receivable 250″
“1. The condensed balance sheet and income statement for Marjoram Company are presented below.
Marjoram Company
Balance Sheet
At December 31, 2009
Cash $19,000
Temporary investments in”
“1.
Direct material purchased and used, 80,000 gallons
Standard quantity of direct material allowed for May production, 76,000 gallons
Actual cost of direct materials purchased and used, $176,000
U”
“Which of the following is not a control activity?
Answer
Dual custody
Systems of authorization
Documents and records
Internal audit department”
As of the beginning of the quarter, you have a cash balance of $250. During the quarter you pay your suppliers $310. Your accounts receivable collections are $420. You also pay an interest payment…
Sophia Sweeny, the present of Sweeny Enterprises, is considering two investment opportunities. Because of limited resources, she will be able to invest in only one of them. Project A is to purchase
The president wants to upgrade the company’s fringe benefits and is considering a cafeteria plan. He has asked you as CFO to report back to him on how a cafeteria plan works and some of the advantag
Case study Identify an organisational crisis (e.g., an accident, a product safety/health hazard, or a scandal) and investigate how the organisation reacted to by means of information releases (e.g., p…
Krim, president and CEO of United Co., engaged Smith CPA to audit United financial statements so that United could secure a loan from First Bank. Smith issued an unqualified opinion on May 20, but th
on june 30, the end of the current fiscal year, the following information is available to sterling company’s accountants for making adjusting entries:on june 29 the company completed negotiations and
A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the ga
“Internal control is concerned only with enhancing the accuracy of the accounting records. Do you agree? Explain.
Respond”
Summarize McDonald’s Corp. sales by product for the current and past year.
Ranch Corporation sells five acres of land in 2010 for a total contract price of $125,000. The company received a down payment of $25,000 and is to receive $20,000 in each of the following five years.
“Instructions: 2 page maximum research Paper with Bibliography. Double Spaced. Font size 11.
Topic: AICPA
Paper should include:
When it was established.
The Formation and legal status of the or”
“2002 2001
COGS $2,500,000 $2,000,000
Inventory $180,000 $140,000
Net income $125,000 $100,000
Retained earnings $500,000 $400,000
LIFO reserve $40,000 $30,0…”
I need some guidence in the following attached problems. Text Problem Sets · Complete the following problem sets: o Copley: 5-7 & 5-10 part a o Copley: 6-3 & 6-10 o Copley: 7- 6 part a The Vi…
“1. Jeff and Geri are married and have AGI of $95,000 and three young children. Geri pays $6,000 a year to day care providers so she can teach a yoga class and do household errands. Geri earns $4,000 t”
A client is considering adding merchandise to his business. The client, who is a home repair contractor, wants to know if selling books on how to do minor home repairs, is a good idea. Your manager, M
one year ago, you purchased 400 shares of stock for $12 a share. the stock pays $0.22 a share in dividends each year. Today, you sold your shares for $28.50 a share. What is your total dollar return o
12) Leather Company makes two types of women’s handbags. Making a standard handbag requires 2 hours of labor while making a deluxe handbag requires 5 hours of labor. During the most recent accounting
On August 1, Westside issued 10,000 shares of its $10 par value common stock in exchange for some equipment. The equipment’s fair market value is estimated at $180,000 by an outside appraisal. On th
“1. Which of the following is not a reason for a business combination to take place?
Cost savings through elimination of duplicate facilities.
Quick entry for new and existing products into dom”
“Record transactions.
Use the horizontal model, or write the journal entry, for each of
the following transactions that occurred during the first year of operations at Kissick Co.
Issued 200,000″
“Find true statement(s):
If a company has rapidly growing earnings per share, their return on assets must be increasing, too.
The relationship of operating leverage to financial leverage f”
“A company sells is considering a new site that will require a $2 million investment for land acquisition and construction costs. Teh following operating results are expected:
Sales revenue $980000″
“Which of the following is considered property, plant, and equipment on a classified balance sheet?
Copyright
Land
Supplies
Investment in Intel Corporation stock
Thank you!”
“Yesterday, a bond had a clean price of $927.40. Today, the same bond had a clean price of $933.80. Based on this information, you know that:
the bond pays its semiannual interest payment today”
Required rate of return Assume that the risk-free rate is 6 percent and the expected return on the market is 13 percent. What is the required rate of return on a stock with a beta of 0.7?
“WHICH OF THE FOLLOWING IS TRUE ABOUT THE ASSUMPTIONS UNDERLYING BASIC CVP ANALYSIS?
ONLY SELLING PRICE IS KNOWN AND CONSTANT
ONLY SELLING PRICE AND VARIABLE COST PER UNIT ARE KNOWN AND CONSTAN”
“Which of the following was not given as a reason for acquirers paying too much in an acquisition?
Overbidding
Overuse of conventional financial statements
Overoptimistic appraisal of marke”
“Subsidiary ledgers
are used only for Accounts Payable and Accounts Receivable
may be used for various ledger accounts
may be used for only those accounts specified by the FASB
are never”
(4 points) On December 31, 2010, M Company sold some inventory to X Company in exchange for a $25,000 10% note receivable. The note principal will be collected as follows – $5,000 on December 31, …
Kade Gulliver turned 20 yrs old today. His grandfather established a trust fund that will pay Mr. Gulliver $60,000 on his next birthday. However, Mr. Gulliver needs money today to start this college
Jen owns a sole proprietorship and Steve is the sole shareholder of a C (regular) corporation. Each business sustained a $14,000 operating loss and a $3,000 capital loss for the year. Evaluate how the
the uses and limitations of an income statement.
“Greta, a calendar-year taxpayer, acquires 5-year tangible personal property in 2009 and places the property in service on the following schedule:
Date placed in service Acquisition Cost
January 1″
At the start of the year Huish Company issued $18,000,000 of 12% bonds along with warrants to buy 1,200,000 shares of its $10 par value common stock at $18 per share. The bond matures over the next 10
“Watson Company’s comparative balance sheet and income statement for last year appear below:
Ending balance beginning balance
cash 44000 40000
accounts receivable 39000 45000
inventory 62000 48000″
“Individual Income taxes, comprehensive tax return proble 1. Appendix E
Marvin L. and molly S. Hall are married and live at 310 poplar avenue,fort wayne IN 46802.They file a joint return and are calen”
Lynn purchases a house for 52000 she converts the property to rental property when the fair market value is 115000 after deducting depreciation cost recovery expense of 1130 she sells the house for 12
“Individual Assignments – prepare written responses to the following questions and be prepared to discuss:
Of the several regulatory bodies, which has the most effect on companies? Why? Do both…”
01/01/07 A company issued $100,000, six year bonds, carrying a coupon rate of ten percent (10), interest payable annually on December 31 each year. The bonds were issued at an effective yield (market
“1 If the internal rate of return exceeds the required rate of return for a project, then the net present value of that project is positive.
True
False
The following labor standards have been”
14) In the Statement of Net Assets for proprietary funds, GASB requires a classified format where current assets, noncurrent assets, current liabilities and noncurrent liabilities are presented:
A bond with a 5 percent coupon ($50 a year) that matures after eight years is selling for $779. What is the yield to maturity? 2.If a preferred stock pays an annual $4.50 dividend, what should be t…
What was the Topps inventory turnover ratio and average days to selli inventory for 2006 and 2005?
“20.
Which of the following industries would most likely have joint costs in production?
new home construction
oil production
meat processing
both c and b”
“. As the price of a resource (e.g., labor) decreases, (Points: 1)
demand for that resource increases
the quantity demanded of that resource decreases
the supply of that re”
Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% price reduction. Gershwin would record this reduction by credi
how does the securities act of 1933, which imposes civil liability on auditors for misrepresentations or ommisions of materials facts in a registation statement, expand auditors liabiltiy to purchuser
Hi this problem is already done but I wanted to ask if you can show me or beak it down for me in notes on how all the problems on the attachment got their answers. For example, example 114 allowance f…
“The items below represent the ratios to be calculated for McDonald’s Corp.
Gross Profit Percentage
Net Income Percentage
Profit Per Person
Cash Flow Return on Assets
..”
(TCO A) Listed below are several information characteristics and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application. (Points: 30
“Rhodes Corporation manufactures a product with the following standard costs:
Direct materials (20 yards @ $1.85 per yard) $ 37.00
Direct labor (4 hours @ $12.00 per hour) 48.00
Variable factory o”
On July 23 of the current year, Dakota Mining Co. pays $4,836,000 for land estimated to contain 7,800,000 tons of recoverable ore. It installs machinery costing $390,000 that has a 10-year life and no
Gunflint adventures operates an airplane service that takes fishing parties to a remote lake resort in north Manitoba, Canada. Individuals must purchase their tickets at least one month in advance du
Need both the narrative explanation and the work show in excel. ACC 650 Team Blue CLC Assignment Info Case: C-14-62 Found on page 634 (type in 670) of textbook. Ontario Pump Company, a small manufactu…
for Garland company, sales is $1,000,000, fixed expenses are $300,000, and contribution margin ratio is 36%. What are th total variable expenses?
“Which of the following ratios can be used as a guide to a firm’s ability to carry debt from an income perspective?
Times interest earned
Debt/equity
Debt to tangible net worth
…”
“A gain from changing an estimate regarding the obligation for pensions and other postretirement benefit plans will: (Points : 1)
Increase assets.
Decrease liabilities.
Decreas”
“What is the Debt to Equity Ratio of Bank of America Corporation for 2009 and 2010, and how was it calculated?
/”
12) When payrolls and other liabilities are incurred and must be paid before substantial amounts of cash will be collected, what type of short-term note is desirable and secured by a government’s powe
“9.
(Points: 1) Which of the following statements is true?
An initial public offering (IPO) occurs when the company first offers their stock for sale to the public.
A seasoned new i”
Note there is an extra answer for number 4 on the updated time extension questions
Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs. The company’s work-in-process on December 31, 20×1, consisted of one job (no. 2077), which was carried on the
Legal Stars has four employees. FICA Social Security taxes are 6.20% of the first $106,800 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, its FUTA taxes are 0.80% and SUT
“Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursem*nts
journal, and a general journal.
The following transactions occur in the month of June.
June”
A taylor, clothing manufacturers have appionted you as their management accountant. You are anxious to prove yourself to the company and feel you can make a valuable contribution to the new system of …
Proposals M and N each cost $800,000, have 6-year lives, and have expected total cash flows of $1,200,000. Proposal M is expected to provide equal annual net cash flows of $200,000, while the net cash
What is the best cost management system (like job order costing, process costing, etc) for a retail business? Explain the reason.
“Filing Status, Dependency Exemptions, and Child Credit. For the following taxpayers,
indicate which tax form should be used, the applicable filing status, and the number of
personal and dependency e”
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $4,000,000 on March 1, $3,300,000 on June 1, and $5,000,000 on De
The transactions below took place at Juan’s Sporting Goods, a retail business that sells outdoor clothing and camping equipment. Indicate the numbers of the general ledger accounts that would be debit
Susan Sweets is a 40 percent shareholder in Acclaim Inc., a theatrical supplies company. She transfers a fully depreciated car with a value of $2,000 to the corporation, but does not receive any consi
“The total on the “”schedule of accounts payable”” at January 31 should equal
the sum of the accounts payable and notes payable controlling accounts totals at January 31
the total of the purchase”
“1.d
a
b
d
a
c
b
d
a
d
c
b
a
d
d
c
a
b
b
a”
Glover Corporation issued $2,000,000 of 7.5%, 6 year bonds dated March 1,2011, with se miannual interest payments on September 1 and March 1. The bonds were issued on Mrch 1, 2011, at 97. Glover’s ye
Fairbanks Corporation purchased 300 shares of Sherman Inc. common stock as an investment in trading securities for $9,900. During the year, Sherman paid a cash dividend of $3.05 per share. At year-end
“The Old Republic Company manufactures calculators from components supplied by various suppliers. Listed below are some of the costs that were incurred by the company this year:
Cost of plastic case”
“For the fiscal year, sales were $4,125,800 sales discounts were $380,000, sales returns and allowances were $186,750 and the cost of merchandise sold was $2,475,500.
What was the amount of net sal”
“26. NF Toy Company is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $30 and NF Toy would sell it for $65. The cost to assemble the product”
Dennis Company is an 80%-owned subsidiary of Kay Industries. Dennis Company issued 10-year, 8% bonds in the amount of $1,000,000 on January 1, 20X1. The bonds were issued at face value, and interest i…
Which of the following is not a characteristic of a like-kind exchange? 1. The holding period for like-kind property includes the holding period of the property surrendered. 2. Receipt of boot can …
“The trial balance before adjustments of pratt company reports the following balances:
Accounts receivable (debit) 100000
Allowance for doubtful accounts (credit) 2500
Sales (all on credit) 650,000(“
Explain why Bank of America, in the financial services industry, has a relatively low rate of operating leverage, while a manufacturing firm like Honda has a much higher degree.
“””Tryon Manufacturing Company has four operating divisions. During the first quarterof 2009, the company reported aggregate income from operations of $135,000 and the divisional
results shown below:”
“Capital lease amortization and journal entries.
Hughey Co. as lessee records a capital lease of machinery on January 1, 2011. The seven annual lease payments of $350,000 are made at the end of each y”
Suppose we are thinking about replacing an old computer with a new one. The old one cost us $309,600; the new one will cost $627,800. The new machine will be depreciated straight-line to zero over
“As part of a divorce decree, Janet must give her ex-spouse Herman her half-interest in stock
with a total value of $120,000 (total basis = $70,000) in exchange for his half-interest in their
home wi”
which of the following statement is false: a)volume of production is a cost driver of direct manufacturing costs, b)fixed costs have cost drivers over the short run, c)over the long run all costs have
Hazel has investments in two nonrental passive activities: Activity A, acquired seven years ago and profitable until the current year, and Activity B, acquired this year. Currently, Hazel’s shares of
Mallet Company has only Job 844 in process on March 1 of the current year. The job has been charged with $2,040 of direct material cost, $2,480 of direct labor cost, and $1,984 of manufacturing overhe
Idler Co. has an investment in Cowl Corp. for which it uses the equity method. Cowl has suffered large losses for several years, and the balance in the investment account has been reduced to zero. How
Hi See the attached assigment. PLEASE SPECIFIC WHICH SIDE IS DEBIT OR CREDIT WHEN ANSWERING ……. 3.4 Mastery (5 of 6 problems must be correct) 1. Knight Industries produces chairs for sporting faci…
On Janary 31, Chloe Inc, issued Check 3144 to replenish its petty cash fund. An analysis of payments from the fund showed these totals: Supplies, $48; Delivery Expense, $39; and Miscellaneous Expense,
“15-5
Sales Price $7.50 per unit
Variable Manufacturing costs 00 per Unit
Fixed Manufacturing costs 3,000 total
Fixed selling and administrativ”
Commonsize the Balance Sheet and Income Statement and answer questions related to the data Fenway Enterprises (1) (2) Commonsize the Balance Sheet and Income Statement 2009 2010 2009 2010 Total Assets…
“I noticed the following questions have already been asked, you can prob use the existing questions and answers and send them to me. Would that work?
(Points: 1)
The cash budget must be pr”
The following data were extracted from the accounting records of Meridian Designs for the year ended
How are variable costs (both in total and per unit) affected by changes in volume?
If I have 5 oranges and sally takes 5 oranges but gives me 3 apples how many oranges do I have.
“Bozeman Corporation manufactures a single product. Monthly production costs
incurred in the manufacturing process are shown on page 231 for the production of
3,000 units. The utilities and maintenan”
Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making
Please show me how you got the answers As an auditor for the CPA firm of Bunge and Dodd, you encounter the following situations in auditing different clients. 1. Desi Corporation is a closely held cor…
“You own Widgets ‘R Us and are considering the future direction of your company. One choice is to fund expansion with outside financing. Your other option is to sell your stores and retire.
..”
“Calculate Break even point if demand is 20,000 shirts at a cost of .50 pero shirt.
Monthly expenses:
Expense Item Monthly Amount
Trabsit station rent $2,800
Delivery van 500″
“1. (Points: 10)
Charrd Corporation manufactures a gas operated barbecue grill. The following information relates to Charrd’s operations for last year:
What is Charrd’s variable costin”
“I am working on a financial analysis paper recommending a company to a set of investors and need help answering the following question.
What does a Rate Earned on Total Assets of 12.7% mean for inv”
“””Answer each of the following questions related to various short- term liabilities:
On September 1, 2011, a company borrowed $ 100,000 from its bank and signed a nine- month note with 8% interest.”
elaborate on the concept of compounding. Discuss how to calculate the net present value and the significance of this indicator for decision
The revenues of profit-seeking organizations are based on user charges. Users may be charged for various services provided by G&NP organizations as well. However, the nature and purpose of user charge
Section 1 Louis and Sandy Roman were married with two children Eddie age 13 and Nancy age 20. On July 7 2011 Louis died. Nancy is a full-time student at the state university. The Romans own their home…
“Below is selected information from Tricrop. Use this information to solve the Questions 1 and 2 below:
—Year 1—
Assets/common equity: 1.37
Net profit margin: 19%
Income tax rate: 47%
Reve”
“E9.9
For several years, a number of Food Lion, Inc. , grocery stores were unprofitable. The company closed some of these locations. It was apparent that the company would not be able to recover the”
“17. A firm wants to use an option to hedge 12.5 million New Zealand dollars in receivables from New Zealand firms. The option premium is US$0.03/NZ$. The exercise price is US$0.55/NZ$. If the option i”
On January 1, 2004, Alison, Inc., paid $60,000 for a 40 percent interest in Holister Corporation. This investee had assets with a book value of $200,000 and liabilities of $75,000. A patent held by Ho…
“5-7
The Village of Harris issued $5,000,000 in 6 percent general obligation, tax-supported bonds on July 1, 2008, at 101. A fiscal agent is not used. Resources for principal and interest payments are”
“need help completing the right forms for the accounting cycle whith these comp problems
ACT 101 – Comprehensive Problem
On July 1, 2008 you established a consulting business, Your Name Consulti”
“Department B had net sales of $70,000, gross profit on sales of $35,000, total expenses of $9,000, and indierect expenses of $6,000 Department B’s contribution margin is:
a)$20,000
b)$29,000
c)$2″
Badonsky Manufacturing needs to obtain a gear-cutting machine, which can be purchased for $75,000. Badonsky estimates that repair, maintenance, insurance, and property tax expense will be $20,000 f
Wholesale/Distributor Sample File Balance Sheet As of December 15, 2007 Dec 31, 07 Dec 31, 08 ASSETS Current Assets Checking/Savings Company Checking Account 36,857.66 84,444.87 Company Savings Accoun…
“(12) Blank Company sells three different categories of tools (small, medium and large). The cost and market value of its inventory of tools are as follows.
Cost Market
Small $65,088 $7″
17) A statewide pension plan exists for all local governments in a certain state. The provisions of the plan indicate that each qualifying retiree receive 2% multiplied by the number of years active e
plans to produce 8,000 units in June, what are budgeted sales for July? 1. Topaz Company has the following expected pattern of collections on credit sales: 70 percent collected in the month of sale, 1…
“Target costing
Case 2:modern Office Machine
comppute a target cost for the pencil sharpener?”
Big Al’s Pizza Managerial Accounting 4,5,6,7,8,9 part project solution
“• Design tests of controls, substantive tests of transactions, and analytical procedures for the following Apollo Shoes cycles (a minimum of 900 words):
Sales and collection cycle
Payroll an…”
Lang Co. uses the percentage of receivables basis to record bad debts expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $400,000 at the end of the…
“Question 1 2 points Save
Stockholders of a corporation directly elect:
the president of the corporation.
the board of directors.
the treasurer of the corporation.
all o”
“Which of the following statements best describes Congress’s rationale for limiting the taxable years a partnership may use?
The partnership’s tax year should generally be as close as possible t”
I am sending attached my assignment for unit 4…I only made a B on the first assignment..I’m not going to pay more than $20.00 if I can’t get an A…so please respect that… Sharon Ragusa Exercises …
“What sources other than financial statements are used to analyze a company and what information is available from those sources? Anyone??
subject accounting
have three free questions for to”
The Cheyenne golf and tennis club requires its members to purchase stock in the corporation and to make a deposit of $50,000. The deposit is to be repaid in 30 years, and no interest is charged. Is
“The Koski Company has established standards as follows:
Actual production figures for the past year were as follows:
The materials price variance is:
$150 U
$160″
“Background information:
Leasing transactions represent a very significant portion of the capital investments of many companies. The accounting classification of these leases can have a dramatic impac”
“Suppose the opportunity cost of capital is 10 percent and you have just won a $1 million lottery that entitles you to $100,000 at the end of each of the next ten years.
What is the minimum lum”
“Fleming Company developed the following standard costs for its product in 2012:
Standard Cost Card
Direct materials (4 pounds @ $3 per pound)
Direct labor (5 hours @ $9 per hour)
Manufact”
On December 1, 2010, Richards Company sold some machinery to Fleming Company. The two companies entered into an installment sales contract at a predetermined interest rate. The contract required four
“2) According to GASB Statement No. 44, all of the following is a recommendation category for the CAFR’s statistical section EXCEPT:
operating information
comparative information
…”
On Jan 1, Quest Corp issues 8%, 20 year bonds payable with a maturity value of $100,000. The bond sell at 98 and pay interest on Jan. 1 and July 1.Quest amortizes bond discounts and premium by straigh
Alpha acquired 100% of Beta’s common stock for $400,000. On this date the Fair Market Value of some of Beta’s assets and liabilities were: Land $180,000 Building $50,000 Bonds Payable $75,000 Prepare …
“1) A primary characteristic that distinguishes not-for-profit entities from business entities is
the need to generate revenues equal to or in excess of expenditures or expenses.
the corr”
Focus Foot Company reported the following amounts in the stockholders’ equity section of its December 31, 2006, balance sheet
.On June 30, 2011, O’Hara Co. declared and issued a 10 percent stock dividend. Prior to this dividend, O’Hara had 60,000 shares of $10 par value common stock issued and outstanding. The market value o
EZ Rental Car offers rental cars in an off-airport location near a major tourist destination in Florida. Management would like to better understand the behavior of the company’s costs. One of thos…
please see attached Student Name: Class: Problem 4-14 BUILDER PRODUCTS, INC. Cooking Department Production Report 1. Equivalent Units of Production Materials Conversion Transferred to next department …
need help on checkpoint accounting 1. CheckPoint: Ratio, Vertical, and Horizontal Analyses The calculations you perform for this CheckPoint form the basis of your analysis of your capstone project. ?…
Constant growth valuation Harrison Clothiers’ stock currently sells for $20 a share. It just paid a dividend of $1.00 a share (that is, Do=$1.00). The dividend is expected to grow at a constant rate
“E. 4-2
The following relate to Hudson City for its fiscal year
ended December 31, 2011.
On January 31, 2011, the city purchased as an
investment for its debt service fund a fifteen-year,
6 pe…”
“2. FREE CASH FLOW AS VALUATION TECHNIQUE
Instead of focusing on dividends, another approach is to focus on free cash flow. Moreover, concentrate on positive free cash flow.
Question: Why would a”
“13-67 Straightforward Problem on Standard Cost System
Study Appendix 13.
The Winnipeg Chemical Company uses flexible budgets and a standard cost system.
Direct-lab…”
assignment is attachment BYP13-3. Most publicly traded companies are analyzed by numerous analysts. These analysts often don’t agree about a company’s future prospects. In this exercise you will find …
“I need these answers by the deadline.
Review Questions
15-1. An auditor generally follows a substantive strategy when auditing long term debt and capital accounts because . The auditor may follo”
“The following is a pre-closing trial balance for Sun City’s General Fund as of June 30, 2011:
What is the fund balance as of June 30, 2011, after all closing entries have been made? Show you”
Here are the ratios I need to get from the attached financial report. I need the calculations shown so I can see where the numbers are coming from. I need the ratios computed for 2005, 2006, and 2007 …
“Journalize the following transactions of Upton Drugs:
1 Received a 90-day, 10% note for $36,000, dated March 1, from Burke Co. on account.
May 30 The note of March 1 was dishonored.
11 Ac”
(TCO D) Irving Music Shop gives its customers coupons redeemable for a poster plus a Dixie Chicks CD. One coupon is issued for each dollar of sales. On the surrender of 100 coupons and $5.00 cash,
Brumlow Company has a contribution margin ratio of 25%. the company is considering a proposal that will increase sales by $100,000. What increase in profit can be expected assuming total fixed costs
“””The net changes in the balance sheet accounts of Eusey, Inc. for the year 2011 are shown below:
Account Debit Credit
Cash $ 105600
Accounts receivable $ 64,000
Allowance for doubtful accounts 1″
Explain why an auditor is likely to set both inherent and control risks at 100% for most segments. And explain the relationship of acceptable audit risk to planned detection risk and the effect of pla
“When a CPA is associated with financial statements that do not comply with promulgated GAAP because the statements would be misleading without the departure, the CPA is not required to disclose
“
On December 31, 2010, Faital Company acquired a computer from Plato Corporation by issuing a $600,000 zero-interest-bearing note, payable in full on December 31, 2014. Faital Company’s credit
Hello tutors! Good day. Would you please help me? Accounting Information System Subj. . My dream company is like a zara or ham company Organization Finance Information Management Production Ma…
“Pr. 16-130—Earnings per share.
Adco*ck Corp. had $500,000 net income in 2007. On January 1, 2007 there were 200,000 shares of common stock outstanding. On April 1, 20,000 shares were issued and on S…”
“Which one of the following inventory methods is often impractical to use?
LIFO
FIFO
Average cost
Specific identification”
“1. Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2009, for $75,000. The land originally cost Leo $60,000. Stiller reported net income of $125,000 and $”
“5.Given the following information concerning a convertible bond:
Principal $1000
Coupon5%
Maturity15 years
..”
“Use the following to answer questions 41-45:
Hernandez Inc. has two divisions, P and Q, with the following information:
P
Market price of finished component $33
Variable cost of finish”
“Creat a business process level REA model for Quandrax Computers’ acquisition/payment process. Be sure to include all relevent entities,relationships,attributes,and participation cardinalities.
List a”
“Paro Company purchased 80% of the voting common stock of Sabon Company for $900,000. There are no liabilities. The following book and fair values are available for Sabon:
Book Value Fair Value
Cu”
“Accounting Question.
Admission of a New Partner
Adam Jones is admitted to a partnership. Prior to his admission, the partnership books show Sean Graham’s capital balance at $100,000 and Kelly Ot”
I have attached the forms I have to use. For E-2 FIFO costing, using first in, first out; perpetual inventory costing; and the following information, determine the cost of materials used and the cost …
Younger Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2008, at a cost of $168,000. Over its 4-year useful life, the bus is expected to be d
Queation 2) Jounalize the following transactions of the Grinch Corp an international christmas decorations manufacturer Jan 1 Issued 10,000 share os no-par common stock at $15 per share. Mar 1 Purchas…
Okay, I have to prepare a statement of cash flows using the direct method along with a reconciliation schedule. I have read the chapter from the text, but I’m still confused, please help Week 4 Indivi…
“The stockholders’ equity section on the 12/31/08 balance sheet of Wheat Corporation was:
Stockholders Equity
Contributed capital:
Common Stock, $?? par value, authorized 30,”
“1. A business cannot be taxed as a corporation unless it is incorporated under local law.
True/False
When a corporation receives property from a shareholder its basis equals that of the sha”
Jills Manufacturing produces light bulbs for big department stores. For 201X, the two production departments had budgeted allocation bases of 100,000 machine hours in Department 1 and 50,000 direct ma
“The adjusted trial balance of Ryan Financial Planners appears below. Using the information from the adjusted trial balance, you are to prepare for the month ending December 31:
an income statem”
Rex Santos, a cost accountant, prepares a product profitability report for Jane Gates, the production manager. Much to Rex’s surprise, almost one-third of the company’s products are not profitable…
delaney company leases an automobile with a fair value of 8,725 from John Simon Motors Inc on the following terms
Discuss the possible effect on human behavior of a preoccupation with variance in financial control?
“Actual Sales 150,000 units
Productioon 160,000 units
Selling price $34 per unit
Direct Materials $4 per unit
Direct Labor $4 per unit
Fixed manufacturing costs $5 per unit
Variable Over”
A clinic is evaluating two different computer systems for handling provider claims. There are no incremental revenues attached to the projects, so the decision will be made on the basis of the present
Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay 1/3 of the sales price of a jet ski when they initially purchase the ski, and then pay another 1/3 each year fo
On June 1, 2009, Kirby, Inc, issued $600,000, 6% bonds for %587,470, which includes accrued interest. Interest is payable semiannually
“when the debtor has defaulted on its obligation, the creditor is entitled to recover from the surety unless which of the following is present?
the surety is in the process of exercising its right”
“a. Identify three potential users and design a subschema for each. Justify your design by explaining why each user needs access to that data element.”
“Use the following information to solve the Questions 1 and 2 below:
Below is selected data for Gertup Corporation as of 12/31/02:
Total assets: $ 5,500
Current assets: $ 2,750
Long-term deb”
Washington Farms Inc. is in the process of decentralizing. However, they have discovered that one of the divisions that they want to set up as a profit center does not have an external market for its
how does interest paid on a home loan (mortgage interest) impact taxes paid by home owners?
Question 5) After discontinuing the ordinary business operations and closing the accounts, the ledger of the partnership of Ichabod, Jezebel, and Shadrack indicated the following: Cash……………….
“Ex. 16-120â��Convertible Bonds.
Dahl Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2006 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2006 with inte…”
Most CFOs do not have much technical background. However, there are several common sense type of points CFO should keep in mind when discussing technical strategies with the IT staff. Can you name a f
“UESTION 1
Aero Technology produces two types of optical mouse: model XT100 and model FT100. The two products are processed through the same production department – Assembly and Packaging. Demands…”
issued $1,000,000 10% 5 year bonds for $1,250,000
Why are budgets useful in the planning process? (Points: 2) They provide management with information about the company’s past performance. They help communicate goals and provide a basis for evalua…
Short Corporation purchased Hathaway, Inc. for $252,000,000. The fair value of all of Hathaway’s identifiable tangible & intangible assets was $48,000,000. Short will amortize any goodwill over the ma
What is Bank of America Corporation’s accounts receivable balance the last two years?
Lamar Industries warrants its products for one year.The estimated product warranty is 3% of sale.Assume that sales were $190,000 for June. In July, a customer recived warranty repairs requiring $185 o
“The subject is regulation CPA:
Which of the following corporations are subject to the accounting requirements of the Foreign Corrupt Practices Act (FCPA)?
All corporations whose securities a”
Blake Henderson and Anna Kraft are preparing a plan to submit to venture capitalists to fund their business, Education Solutions. The company plans to spend $380,000 on equipment in the first quarter
“The Granger Co. had the following information about its pension plan for 2008:
Projected benefit obligation 400,000
The company granted prior service
benefits to employees on”
A financial manager is considering two possible sources of funds necessary to finance a $10,000,000 investment that will yield $1,500,000 before interest and taxes. Alternative one is a short-term com
International Accounting: A Users Perspective by Shahrokh M. Saudagaran Variety of the spice of life! Patricia duong, having recently obtained her MBA, has been hired by one of the last of the large i…
“the comprehensive annual financial report(CAFR) of a governmental unit should contain a statement of revenues, expenses, and changes in net assets for
both proprietary and governmental funds
b)p”
Duke and Pat Collins have adjusted gross income of $500,000. They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 71/2% of adjusted gross income ,$3,000 in pro
“9. Calculating Profitability Index Bill plans to open a self-serve grooming center in a storefront.
The grooming equipment will cost $210,000, to be paid immediately. Bill expects aftertax cash
in”
what are the tax advantages of home ownership, and Can you provide specific and numerical examples?
Royal Carpet cleaning provided $90,000 of services during 2011, its first year of operations. All customers paid for the services with major credit cards. royal submitted the credit card receipts to t
A company has a total assets of $120,000, current assets of $80,000, total liabilities of $50,000 and current liabilities of $25,000. What is the current ratio? a)4.80 to 1 b)3.20 to 1 c)2.40 to 1 d)1…
“Find the latest 10k of Domino’s pizza and please answer the following: What amount of inventory does the company have at the end of the year? Did it increase or decrease over the last year?”
please help me understand these questions I have to turn in my answers and explanation tonight but i don’t understand these question. Study Questions 1.) Electron Company manufactures an innovative au…
Gonzalez, Inc. reported net income of $1.6 million in 2010. Depreciation for the year was $160,660, accounts receivable decreased $324,650, and accounts payable decreased $287,230. Compute net cash pr
“James owns a sole proprietorship. James pays his son Albert, age 17, $8,000 and his daughter
Chloe, age 19, $11,000 for their work in the business. Both wages are reasonable for the work
they perfor”
. On January 1, 2009, G Corp. granted stock options to key employees for the purchase of 80,000 shares of the company’s common stock at $25 per share. The options are intended to compensate employees
“16-2
Kade Gulliver turned 20 today. His grandfather established a trust fund that will pay Mr Gulliver $60,000 on his next birthday. However, Mr. Gulliver needs money for college today. His father”
Both the NPV method and the IRR method are considered financially sophisticated. Why would one be preferred to the other? Is your answer influenced by the audience, application, etc.? Think in terms o
Courtney purchased and consumed 50,000 gallons of direct-material that was used in the production of 11,000 finished units of product. According to engineering specifications, each finished unit ha
The Sales to Working Capital Ratio. What does it measure? Is it an effective measurement?
What components can be included in a cafeteria plan? Please provide reference.
“On a CVP graph for a profitable company, the total expense line will be steeper than the line representing fixed costs.
True
False
Data concerning Lancaster Corporation’s single product appear”
“You asked:
“”Referencing question ID: 7727213
I will pay $25″”
Sent to Accounting Expert Tutor on 12/4/2011 at 9:40pm”
What kind of authorization and approval process should be in place in accounts receivables write-off?
What are the general IRS rules behind SEC filing benefits? Can other companies replicate such strategy?
A company that wishes to acquire another company must place a value upon the company to be acquired. How is this done? How much do you think should be placed on intangible asset? Are there times when
See attachment 25 multiple choice questions. Please provide info about how you got the correct answers.
“(Debt-Related Transactions) Prepare the general journal entries (bugetary and actual) to record the following transaction of the Quinones County General Fund:
Quinones County borrowed $1,000,000 b”
Hello! I have to hand in the filled in proforma tables of the Income Statement and Balance Sheet and to write at most 3 pages what I would do and how I would decide as Karen Dennison. It’s due on Tues…
“The principle reason for converting a customer’s account receivable to a note receivable is:”
On January 2, 2010, $100,000 of 11%, 10-year bonds were issued for $97,000. The $3,000 discount was charged to Interest Expense. The bookkeeper, Mark Landis, records interest only on the interest paym
“The information below relates to Lennon Company’s trading securities in 2007 and 2008.
Prepare the journal entries for the following transactions. (45 points)
May 1, 2007 Purchased $250,000″
4-7. On July,1 2010, Dexter Corp. buys a computer system for $260,000 in cash. Assume that the computer is expected to have a four-year life and an estimated salvage value of $20,000 at the end of tha
Several years ago, Miller purchased a structure for $200,000 that was originally placed in service in 1929. In the current year, he incurred qualifying rehabilitation expenditures of $250,000. The a
I am unable to understand the assignment. I am supposed to identify the accounting and reporting issues in each situation.
“The annual report for Costco Wholesale Corporation, the large discount company, contains the following statement:
“”The Company periodically evaluates the realizability of long-lived assets for impa”
Credits are used to record: A) decreases in assets and owner’s equity and increases in liabilities. B) decreases in assets, liabilities, and owner’s equity. C) decreases in liabilities and increases i…
“””””The more the better!”” Was a comment made by the CEO of a major company when asked about allocation of sales, general, and administrative costs to products. Do you agree? Explain.
“”The step-…”
I have attached a file with it 1. Sierra Company incurs the following costs to produce and sell a single product. Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead…
How do you account for investment activities subsequent to initial acquisition?
Depreciation question:The Ministry of Finance published the FY2009 Tax Reform ( Main Points) on December 19, 2008. Included in the Reform is the introduction of a 2- year measure allowing immediate de
“The following audit procedures are concerned with the tests of details of general cash balances:
List the check number, payee, and amount of all material checks not returned with the cutoff bank s”
Rockwell Corporation had a net income of $150,000 for the year ending 2009. The company decided to payout 40% of earnings per share as a dividend. Rockwell has 120,000 shares issued and outstanding.
“Attached is seaside simulation, i need to create a worksheet with income statement, balance sheet, and cash flows…to get into seaside use my name ihor kanskyy, product id: 2aixjx
section id:2249 i”
“can you make little note on how you got the answer please
thanks”
Cost Allocation is a method to identify and distribute indirect costs. Direct costs are costs assignable to a specific cost objective, whereas indirect costs are costs incurred for multiple cost objec
“(Equity Method)
Gator Co. invested $1,000,000 in Demo Co. for 25% of its outstanding stock. Demo Co. pays out 40% of net income in dividends each year.
Use the information in the following T-acc”
In a good system of internal control, the person who initiates a transaction should be allowed to effectively control the processing of the transaction through its final inclusion in the accounting re
“MUST HAVE STEP BY STEP ANSWER. THANK YOU.
(TCO 3) Keefe, Inc., a calendar-year corporation, acquires 70% of George Company on September 1, 2009 and an additional 10% on April 1, 2010. Total annual”
“26. A plant asset has a cost of $32,000 and a salvage value of $8,000. The asset has a three-year life. If depreciation in the third year amounted to $4,000, which depreciation method was used?
D”
“About states apply unitary system of business income taxation.
Explain why these states are attracted to the unitary theory and a combined reporting scheme of multistate income taxation.
Is t”
“see the attached file.
Portia Carter is the president of a company that owns six multiplex movie theaters.Carter has delegated decision-making authority to the theater managers for all decisions …”
“26-20
Which of the following may compromise the independence of an internal auditor?
Reviewing IT systems before implementation.
Performing an audit where the auditor recently had operatin”
In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production? (Points…
Hello, This this a case of managiral accounting. Please provide the analyses as much as you can. I need the analyses much more than the calculations. Thanks!!
15-1 Referencing the readings for the week, define the concepts of present value, payback method, internal rate of return, or net present value and elaborate on your interpretation of their value as a…
Comparative financial statements for Weller Corporation for the fiscal year ending December 31 appear below
Hello Michael, Can you also help with this assignment? I have another that I will email below . Thank You, Benjamin O’Henry has owned and operated O’Henry’s Data Services since its beginning ten years…
“Case 10-3
Restructuring Costs
Pharma Co. is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accordance with (1) U.S. GAAP for reporting to its U.S.-based lender and”
“Compare the traditional, parent-company, and entity theories of consolidated financial statements.
Th word limit should be between 100-250.”
I:5-38 Sale of Assets Received as a Gift and Inherited. Daniel receives 400 shares of A&M Corporation stock from his aunt on May 20, 2009, as a gift when the stock has a $60,000 FMV. His aunt purchase
Williams Company’s direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, the direct labor cost
Our long-term debt represents the remaining balance on a 30-year loan taken out in 1991 at 13 percent with options to refinance every 10 years. If we refinance for the remaining 10 years at 7 percent,…
“Questions:
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.
Solution:
Type your answer here
Q2: Discuss the essential activities involved in the”
Hello 🙂 There is no attachment mentioned for this assignment. Thanks! Number 21 on page 295 21. Decision Trees Young screenwriter Carl Draper has just finished his first script. It has ac- tion, dram…
This is a start-up business, use any figures you feel appropriate. “Our ratio analysis will be limited to the pro forma financial statements and will ignore any ratio analyses based on inventories, tu…
“Did you receive the attached questions from the July 24th request for help? I have resubmitted the questions. Have you received them?
Beth”
“Sorry, I am unable to increase the deadline.
“”Suzy owns a 25% capital and profits interest in the calendar-year SJDV Partnership. Her adjusted basis for her partnership interest on July 1 of the cu”
“The items below represent the ratios to be calculated for McDonald’s Corp.
The question is not incomplete. Need to calculate/ find out the ratios for the following items below for McDonald’s Corp.”
In a general way, explain how you can use the Du Pont method to analyze a firm’s profitability and return on equity (ROE).
A company is authorized to issue 50,000 shares of $50 par value, 8%, cumulative, fully participating preferred stock, and 750,000 shares of $5 par value common stock. Prepare jounral entries to record
“28) Tom Donaldson and Tom Dunfee are proponents of ethical guidelines related to technology that are based on differentiating hypernorms from nonhypernorms. This theory is known as
Transparen”
AC 550 Project III Edmond Company exchanged machinery with an appraised value of $1,755,000, a recorded cost of $2,700,000 and Accumulated Depreciation of $1,350,000 with Rosen Corporation for machin…
“3.
Sales revenue $1,500,000
Gross margin 600,000
Net income 90,000
Average operating assets 450,000
Owners equity 200,000
Playbacks margin is: (Points: 5)
40%.
20%.
15%.
6%.”
“SECTION 1:
Micro Chip Corporation (MCC) has a special PO Box for customer payments. Jane is responsible for:
going to the post office every day,
emptying the post office box,
opening the ma”
jamie wants 2,000,000 for her retirement in 25 years. How much should she save annually if she thinks she can earn eight percent on her investment?
Instructions: Enter the trial balance on a worksheet and complete the worksheet. BRISCOE COMPANY Worksheet For the Month Ended June 30, 2008 Trial Balance Account Titles Dr. Cr. Cash $2,320 Accounts R…
“Depreciation is a process to allocate the cost of long -life assets to each period’s income statement and adjusts the value of the assets on the balance sheet.
Explain how the double-declini…”
“1. When the investor sells inventory to the investee it is known as a
Upstream sale
Downstream sale
Side sale
Intercompany transfer of assets
When the investee sells inventory to t”
“I am having difficulty solving this problem.
Bar T Ranches, Inc. is considering buying a new helicopter for $350,000. The company’s old helicopter has a book value of $85,000, but will only bring”
see the attachment. I see the question is probally submit in this site before. The following information is available to reconcile Hamilton Company’s book balance of cash with its bank statement cash …
“arkansas corporation provided the following information regarding its product-tables:
selling price per unit $65
direct material used 150000
direct labor 225000
variable factory overh”
Garr Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2010 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2010 with interest payable April 1 and October 1.
Henry Hawkins owns 20 percent interest in the HI Partnership. On July 1 he sold 100 shares of stock of IPR Corporation to the partnership for $10,000, its fair market value. The stock had cost him $5,
(CMA adapted) Rum Company has developed a new product that will be marketed for the first time during the next fiscal year. Although Rum’s Marketing Department estimates that 35,000 units could be sol
“Use the table “”Food and Beverage Sales for Luigi’s Italian Restaurant”” to answer the questions below.
Food and Beverage Sales for Luigi’s Italian Restaurant
($000s)
Month …”
Intermediate Accounting question Intermediate Accounting question It is November 1, 2010, the first business day of the month, and you have just been hired as the accountant for ABC Corporation, which…
Joe Java is a chain of 55 coffee shops. The standard amount of ground coffee per cup is 0.80 ounces. During the month of September, the company sold 350,000 cups of coffee and the 55 shops reported us
Why is public accounting often viewed as a guarantor of results, or even as a provider of assurance that one’s investment is of high quality? To what extent is it reasonable to view the auditor as a…
“Which of the following substantive procedures would auditors most likely perform to obtain evidence about the occurrence of subsequent events?
A)Recompute a sample of large-dollar transactions occuri”
Melvin Motor Sales exchanged a car from its inventory for a computer to be used as a noncurrent operating asset. The following information relates to this exchange that took place on July 31, 2011:
“67. Delta Corporation, a calendar year s corporation, has accumulated adjustments
account of $8,000. It also has accumulated earnings and profits from pre 1983
years of $12,000. The sole shareho”
“3. What is the primary accounting difference between accounting for when the subsidiary is dissolved and when the subsidiary retains its incorporation?
If the subsidiary is dissolved, it will not”
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest rev
see attached. I am willing to pay $ 30 Sampson Company uses a job order cost system with overhead applied to products based on direct labor hours. Based on previous history, the company estimated its …
What is the asset turnover and profit margin on sales of Bank of America for the past two years?
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income? (Points: 2)
Charter Corporation, which began business in 2011, appropriately uses the installment sales method of accounting for its installment sales. The following data were obtained for sales made during 2011 …
“Birch company manufactures a part for its production cycle. the costs per unit for 5,000 units of this part are as follows:
Direct materials $3
Direct Labor $5
Variable factory overhead $4″
“The accuracy of financial statements rely on fraudless operations and controls placed in each area. Please list some key controls in each of the following accounts.
Cash”
“The December 31, 2010, balance sheet of Hess Corporation includes the following items:
9% bonds payable due December 31, 2019 $1,000,000
Unamortized premium on bonds payable 27,000″
Bonds usually sell at their: A. Maturity value. B. Face value. C. Present value. D. Statistical expected value. Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2009. LPC’s accountant h…
Whitman company began operations on January 01 2008 and uses the average cost method of pricing inventory. management is contemplating a change in inventory methods for 2011. The following informati
“Turgo Corp. had total variable costs of $180,120, total fixed costs of $168,000, and total revenues of $300,200. Compute the required sales in dollars to break even.
$…………”
“direct manufacturing labor-hours 10,000 50,000
machine hours 40,000 20,000
manufacturing overhead 200,000 400,000
machinning assembl”
Examples of nonfinancial budgets include all of the following EXCEPT
Prepare 300 words Executive Summary, using the information contained in the company’s balance sheet and income statement, answering the following questions, noting that annual reporting period and f…
Madison Corporation has a $1000 par value bond outstanding paying annual interest of 7%. The bond matures in 20 years. If the present yield to maturity for this bond is 9%, calculate the current pri
Tell, Inc. leased a building from Lott Corp. Tell paid montly rent of $500 and was also responsible for paying the building’s real estate taxes. On January 1, Vorn Co. and Tell entered into an agree
“1 All business owners are personally liable for the debts of their businesses.
Generally accepted accounting principles, or GAAP, are the rules and procedures established by the Financial Accoun”
What is the command structure of McDonald’s Corp? Please provide references.
The controller of Gomez Corporation believes that company’s yearly allowance for doubtful accounts should be 2% of net credit sales. The president of Gomez Corporation, nervous that the stockholders m…
(5 Points). Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 25% for
ACCT 613 Fall semester 2010 Entity Tax Case The Rite-Way Plumbing Co. began business March 1, 2006 in Sarasota. Its business address is 124 Division Lane, Sarasota, FL 33645. Its employer identificati…
Marianne is a 50% partner in the BAM Partnership. At the beginning of the tax year, Marianne’s basis in the partnership interest was $200,000, including her share of partnership liabilities. Durin
“In order to reduce its overall quality costs, a company should focus most of its efforts on:
prevention costs.
appraisal costs.
internal failure costs.
external failure”
“””Rocklin Corporation reports the following components of stockholders’ equity on December 31,2009.
Common stock, $25 par value, 100,000 shares authorized, 45,000 shares issued and outstanding $1,12″
“1. DIVIDEND PAYOUT AS VALUATION TECHNIQUE
A company paying dividends are usually viewed as more favorable compared to a company that is not paying (or paying less) dividends. In fact, often times, so”
C Penny, a large retail company, has an inventory turnover of 3.4 times .Dell Corporation, a well-known computer manufacture, has an inventory turnover of 75.0 Dell achieves its high turnover throug
Joe Quick and Jane Reddy are equal partners in the Quick and Reddy partnership. On the first day of the current taxable year, Joe’s adjusted basis in his partnership interest is $10,000 and Jane’s adj
why might trial balance amounts be projected when considering planning materiality?
Translation of financial statements A U.S.-based MNC has a subsidiary in France (local currency, euro, ;). The balance sheet and income statement of the subsidiary follow. On 12/31/09, the exchange ra…
“___________ are a qualitative factor of a make-or-buy decision
variable manufacturing costs
avoidable costs
long-term relationships with suppliers
opportunity costs”
“The following data for Butler Co. relate to the payroll for the week ended December 4, 2010:
Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax S. Savings
Bonds Accumulated
Ear”
“1. The costs that are easiest to trace directly to products are
direct materials and direct labor.
direct labor and overhead.
direct materials and overhead.
none of the above; all thre”
“1. When a company uses LIFO for external reporting purposes and FIFO for internal reporting purposes, an Allowance to Reduce Inventory to LIFO account is used. This account should be reported
on t”
“Find true statement(s):
If a company has a low price to book value and a high price earnings ratio, this is an indicator that the stock is most likely under-priced.
If a company’s return”
“Evaluating payment alternatives:
Suppose you can earn a 6-month return of 2.5% on invested cash. Which is a better deal: $1,000 at the end of 1 year or $495 at the end of 6 months and another $495″
“Here’s a client email.
“” My corporation owns land that was purchased many years ago for $600,000. I’d like to give the land to Golden Gate University as a charitable contribution. How much can”
Began business by making a deposit in a company bank of 12,000 in exchange for 1200 shares of 10 par value common stock. During its first month of operation, the Rawls Repair Corporation, which specia…
Discuss the reasons why a company may want to sell their receivables and the advantages and disadvantages of this practice.
A $1,000 par value bond pays interest of $35 each quarter and will mature in 10 years. If your nominal yield to maturity is 12% with quarterly compounding, how much should you be willing to pay for th…
“(1)For federal tax purposes, royalty income not derived in the ordinary course of a business is classified as: (Points:
a-Active income
b-Passive income
c-Portfolio income
d-None of the above.”
A dilutive security can be either a bond or a preferred stock. The reason they are referred to as a dilutive security is because the security can be converted into common stock and share in the ‘earni
Movies Galore distributes DVDs to movie retailers,including dot.coms.Movies Galore’s top management meets monthly to evaluate the company’s performance.Controller Allen Walsh prepared the following pe
“For the fiscal year, sales were $4,125,800 sales discounts were $380,000, sales returns and allowances were $186,750 and the cost of merchandise sold was $2,475,500.
What was the amount of net sal”
Last year’s sales were $10 million, and Apex estimates it will need to raise $2 million in new debt and equity next year. You have identified the following facts: (1) it pays out 30% of earnings as di
“Use the following to answer question 50:
Financial statements for Larned Company appear below:
Larned Company
Statement of Financial Position
December 31, 19X6 and 19X5
(dollars in th”
How, if at all, should a company report the unrealized holding gains on Available For Sale securities within the Statement of Cash Flows? What GAAP and SEC proof of this can you find?
“The questions in this exercise are based on the Benetton Group, a company headquarters in Italy
Please show me how you got the answers thank you During its first year of operations, Harlan Corporation had the following transactions pertaining to its common stock. (List multiple debit/credit entr…
SEK Corp. factors $400,000 of accounts receivable with Mays Finance Corporation on a without recourse basis on July 1, 2010. The receivables records are transferred to Mays Finance, which will receiv
“Select the incorrect statement regarding postaudits of capital investment decisions.
A postaudit should be conducted at the end of the project.
The postaudit help management determines whether”
“True/ False questions
In tax planning, the average tax rate is more important than the marginal tax rate.
For a taxpayer in the 35% marginal tax bracket, a $100 tax CREDIT saves the taxp”
jenny’s has annual sales of $367,200 and cost of goods sold of $198,600. the average accounts receivable balance is $16.400. how many days on average does it take the firm to collect its accounts rece
A firm is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. The CEO wants to use the IRR criterion, while the
“P9-6A
Mendosa Company closes its books monthly. On September 30, selected ledger account balances are:
Notes receivable
$33,000
Interest receivable
$170
Notes Receivable include the fo”
You are planning to use nonstatistical sampling to evaluate the results of accounts receivable confirmation for the Meridian Company. You have already performed tests of controls for sales, sales retu
At December 31, 2009, the account balances of HD Services showed income taxes payable of $80 million and a deferred tax asset of $120 million before assessing the need for a valuation allowance in 200
A U.S. company is considering an investment project proposal to extend its operations in Germany. As part of the proposed project, the German operation is required to pay an annual royalty of 500,00
“On january 1, 2008…” (Info attached) Questions: a) total interest incurred by sky airlines for 2008 (max) b)weighted average cost of debt(excluding debt used to fun this specific project) c) capita…
“Jan-08 January 2008 Budgeted
Budgeted Amount of Cost driver Used
Activity Cost Driver Cost Driver Rate Soft Drink Fresh Product Packaged Food
Ordering Number of PO 90 14 24 14
Delivery Num”
Provide examples of resources that are temporarily restricted as to: (a) purpose; (b) time; and (c) the occurrence of a specific event. Provide an example of permanently restricted resources.
“34. A company projects an increase in net income of $225,000 each year for the next five years if it invests $900,000 in new equipment. The equipment has a five-year life and an estimated salvage valu”
E-10. I have to prepare Journal entries for the following: 1.recording the payroll.2.paying the payroll.3.Distributing the payroll.(assume that overtime premium will be charged to all jobs worked on d…
“””1)Prepare materiality memo 1/4/2011 p48/146
2)Prepare planning impact 1/6/2011 p50/146
3)Prepare Cash AWP p66/146
4)Prepare AR AWP p73/146
5)Prepare Payroll AWP p123/146
6)Prepare Inventory AWP”
“Chapter 15 Case 2:
Business is going well for Email Designers. The board of directors of this family-owned company believes that Email Designers could earn $1,000,000 income before interest and taxe”
“John Smith, Esq.
<graphic: Lawyer with briefcase, suit>
I worked on this case for over two years. The jury awarded my client $2,000,000 in damages, of which my fee was $300,000 plus recovery of expe”
Motorola has employed its Six Sigma approach to managing quality for many years. (“Six Sigma” refers to the probability of a defect occurring based on the area under a normal probability curve that i
What constitutes a pledge or contribution for not-for-profit organizations?
“Mia-Tora Company purchased a fast-food restaurant for $1,400,000. The fair market values of the assets purchased were as follows. No liabilities were assumed.
Equipment $320,000″
“The accuracy of financial statements rely on fraudless operations and controls placed in each area. Please list some key controls in each of the following accounts.
Occupancy expenses”
“bonds with a face value of $200,000 were issued at 103. The entry to ercord the issuance will include a credit to the bonds payable account for:
a)$206,000
b)$200,000
c)$103,000
d)$230,000″
In 2001, Ross was granted an incentive stock option(ISO) by his employer as part of an executive compensation package. Ross exercised the ISO in 2003 and sold the stock in 2005 at a gain. Ross’s pro
“Michael,
I only need 5, 6 & 7 answered tonight. Is there any way you can surmise those for me? Thanks.
Best,
Eric”
What is a value chain? Sketch the significant processes in the value chain for a local franchise of Starbucks. How does the local franchise fit into the larger value chain for Starbucks as a who
“The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2009.
VILLAGE OF PARRY-PRINT SHOP FUND
Statement of Revenues, Expenses, and Changes in Ne”
Could you explain why net income is higher under IFRS than US GAAP (especially how differences in goodwill measurement affect net income under the two methods)
revenue estimate and appropriations enacted are standard against which performance is subsequently measured. what implication can be drawn at year end if there are variances from these standards? if
Rockville, Inc., which uses a job-costing system, began business on January 1, 20×3 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 20×3:
Summary Jordan-Williams Incorporated (JWI) is considering a strategic partnership with NetKnowledge (NK) and senior management of JWI is evaluating the financial analysis in a report from its due dili
Please see attached AC552 Week 6 Homework Please complete the below problems and submit your answers in the Week 6 Drop Box. See "Syllabus/Due Dates for Assignments & Exams" for due date…
Why is there no unequivocal way to allocate truly joint costs (before split-off)?
Cramer Corporation and Mr. Chips formed a general partnership. Cramer contributed $500,000 cash, and Mr. Chips contributed a building with a $500,000 FMV and $300,000 tax basis. The partnership immedi
“19) Which of the following would represent the order in which most master budgets are prepared?
Purchases, Sales, Cash, Income Statement
Income Statement, Cash, Sales, Purchases”
In 1980, Marie and Hal (mother and son) purchased land for $600,000 as joint tenants with the right of survivorship. Of the $600,000 as joint tenants withthe right of survivorship. OF the $600,000 pur
“Gator Co. invested $1,000,000 in Demo Co. for 25% of its outstanding stock. Demo Co. pays out 40% of net income in dividends each year.
Use the information in the following T-account for the inves”
Why should current earnings/profits be accounted for separately than accumulated earnings/profits?
On december 31 prior to adjustment, allowance for Doubtful Accounts has a credit balance of $400. An aging analysis of the accounts receivable produces an estimate of $2000 of probable losses from unc
In firms using activity-based costing (ABC), budgeted total factory overhead varies with changes in
“A company had the following partial list of account balances at year-end:
Sales Returns and Allowances $500
Accounts Receivable 9,000
Sales Discounts (a contra account) 700
Sales Reven”
Everhart Company issues $10,000,000, 6%, 5-year bonds dated January 1, 2010 on January 1, 2010. The bonds pays interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What
Please show steps. 3. Tuttle Buildings Inc. has decided to go public by selling $5,000,000 of new common stock. Its investment bankers agreed to take a smaller fee now (6% of gross proceeds versus the…
“Here are my final questions for this assignment! Thanks again.
Question 1
Xtreme Sports has $100,000 of 8% noncumulative, nonparticipating, preferred stock outstanding. Xtreme Sports also has $500″
On January 1, 2009, Vacker Co. acquired 70% of Carper Inc. by paying $650,000. This included a $20,000 control premium. Carper reported common stock on that date of $420,000 with retained earnings of
if the payroll register for the week ended January 15 for Harter Insurance agency indicates gross ernings of$4,000 and total deduction of $1,200.What would the amount charged to Wages and salaries exp
please compare and contrast Foreign currency options and forward contracts
Joan bought a business Machine for $15,000 on January 1, 2010, and later sold the machine for $12,800, when the total allowable depreciation is $8500. The depreciation actually taken on the tax return
“Information about the seven segments of the Kenny Corporation is presented below. Determine which of the segments are reportable and why.
segment 1
revenue from all sources – 17,450,000
cost of”
What is the doubtful account expense for the year ended December 31, 2009 if the Accounts receivable at December 31, 2009 is $440, the Allowance for Doubtful Accounts at January 1, 2009 is $64, the Ac
Peterson Foods Manufactures pumpkin scones. For January 2009 it budgeted to purchase and use 15,000 of pumpkin at 0.89 a pound. Actual purchases and usage for January 2009 were 16,000 pounds at 0.8
Ryan Fuller, a sole proprietor, entered into a partnership with another individual. Fuller’s investment in the partnership included equipment that cost $32,000 wgeb ut was purchased. The equipment h
“22
Kile Company borrows $61,177 on July 1 from the bank by signing a $61,177, 9%, 1-year note payable. Prepare the journal entries to record (a) the proceeds of the note and (b) accrued interest at”
“Calculate the Present Value of a terminal investment that has the following features.
Par Value: 10,000
Coupon rate: 6%
Yield: 4.5%
Maturity: 10 years”
The standard cost of Product B manufactured by TLC Company includes 3 units of direct materials at $5.80 per unit. During June, 28,000 units of direct materials are purchased at a cost of $5.45 per un
“Which of the following is not a required segment reporting disclosure according to International Financial Reporting Standards?
Segment profit or loss.
Segment assets.
Segment liabilities.”
Attached is my problem for prepare Entries for Special Assessments, Capital Projects & Debt Service Funds for government statements.
Please distinguish between the accrual basis and the cash basis of accounting.
Wamser Company’s standard labor cost per unit of output is $27 (2.1 hours × $13.00 per hour). During August, the company incurs 2,370 hours of direct labor at an hourly cost of $13.65 per hour in mak…
“Part1:
Mindy Feldkamo and her two colleagues, Oscar Lopez and Lori Melton, are personal trainers at an upscale health spa/resort in Tampa, Florida. They want to start a health club that specializes i”
I am working on Assignment 8 in Apple Blossom Cologne Company 5th ed by Jack Paul. It is the Accounts Payable assignment In part A, I have done the flowchart. I am pretty confused on the rest of A and
Selected financial data for Irvington Company appear below: Account Balances Beginning of year End of year Preferred stock $125,000 $125,000 Common stock 300,000 400,000 Retained earnings 75,000 185,0…
“Financial interpretation No. 46R, “Consolidation of Variable Interest Entities,” reference several FASB Concepts Statements in motivating the need to identify and consolidate variable interest ent
Carol owns 40% of CJ Partnership. The partnership reports $170,000 of revenue, $60,000 cost of goods sold, and $70,000 of other expenses that include $1,500 of doctor bills paid for Carol, a $2,000
“Bill has a $15,000 passive loss, a $12,000 passive gain, $20,000 of active income, and a
$14,000 active loss. What is Bill’s current year net taxable income or loss?
$20,000 income
$6,000 i…”
Doug Stevens, CPA is interested in testing the fairness of the ending inventory balance at an audit client. Doug has relatively little experience using statistical sampling methods and, does not like
The owner of a fish market determined that the average weight for a catfish is 3.2 pounds with a standard deviation of 0.5 pound. Assuming the weights of catfish are normally distributed, the probabil
Gross Profit Margin – What does it measure? What is the main trouble this approach possess?
Louis Gallo owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr. Gallo
“16. LO.2 (Underapplied or overapplied overhead) At the end of 2010, Jackson Tank
Company’s accounts showed a $66,000 credit balance in Manufacturing Overhead
In addition, the company had …”
“Kwikeze Company set the following standard costs for one unit of its product.
Direct materials ((3.0 Ibs. @ $5.0 per Ib.) $ 00
Direct labor (1.7 hrs. @ $11.0 per hr.) 7″
“””5. Given the following information, prepare an income statement for year ended December 31.
($000)
Stockholder’s equity 500
Accounts payable 150
Cost of goods sold 55
Accumulated depreciatio…”
I need some help in how to do a powerpoint 10 slide presetation on the subject Responsibility Center Presentation.
Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30.
A project to build a new sports complex involves a capital outlay of £2,400,000. Profits before depreciation each year would be £50,000 for 6 years. The cost of capital is 12%. Is the project worthw…
“Problem1. Using present value techniques to evaluate alternative investment opportunities.
Fast Delivery is a small company that transports business packages between New York and Chicago. It operates”
“Having trouble with this problem…
The Long Run Golf & Country Club details the following accounts in its financial statements.
(a.)Classify each of the accounts below as an: asset, liability…”
will adoption of a different inventory cost flow assumption for different types of goods or merchandise violate the consistency principle? explain the consistency principle”
Need a full audit report for the Apollo Shoes Case. (http://www.mhhe.com/business/accounting/louwers2e/apollo.html)
“What is a variable interest entity? Explain the difference between the voting interest model and the risk and reward model?
The word limit should be between 100-250″
The management concept of customer orientation encourages a company to set up its production system to produce large quantities of the same product for all customers.
“The following audit procedures are concerned with the tests of details of general cash balances:
Compare the bank cancellation date with the date on the cancelled check for checks dated on or shor”
Scoff Division of World-Wide Paint currently is losing money; therefore senior management is considering selling or closing it. Scoff’s only product an intermediate chemical called Binder is used prin
A company’s contribution per unit is £8 and its fixed costs are £240,000. It is offered a special order for 90,000 units by a customer, which would reduce contribution for that order to only £2. No…
“A company that receives an interest bearing note receivable will
debit Notes Receivable for the face value of the note.
credit Notes Receivable for the maturity value of the note.”
“• Review the following information:
Lee Corporation, a U.S. company, began operations on January 1, 2004.
During its first 3 years of operations, Lee reported net income and declared dividends a…”
Lyons Company consists of two divisions, A and B. Lyons Company reported a contribution margin of $50,000 for Division A and had a contribution margin ratio of 30% in Division B, when sales in Divisio
Tillery Company’s production V.P. has a problem. Because of the pattern he has detected in the direct and indirect labor variances, he has been investigating the situation. The investigation has turne
“The following information concerns two business units within an organization:
Division A currently sells its product to outside parties at a price of $20 per unit. It incurs variable costs of $7 p”
“Calculate the percent increase or decrease for each of the following financial statement items:
2010 2009
…………………………………………. …”
is it possible to complete this assignment? TOPIC Being a service industry, consulting companies have a unique and interesting accounting control system in place to assure payment for services rendere…
“A local youth group was contacted to provide concessions to the public and
divide the profits with the Circular Club. The Auburn Circular Club Pro Rodeo
Roundup would be held on June 1, 2, and 3. Th”
“The following information is related to the Hedge Co. post-retirement (“”pension””) benefits plan for 2011:
Service Cost $168,000
Discount Rate 10%
EPBO, January 1, 2011 820,000
APBO”
“25
Mahon Corporation issued 1,000 6%, 5-year, $3,344 bonds dated January 1, 2010, at face value. Interest is paid each January 1.
Prepare the journal entry to record the sale of these bonds”
27) The Zintrozak Company reported net income of $50,000 on sales of $300,000. The company has total assets of $500,000 and total liabilities of $100,000. What is the company’s return on equity rat
Worthington Company purchased a machine on January 1, 2008, for $3,600,000. At the date of acquisition, the machine had an estimated useful life of six years with no salvage. The machine is being depr
“Gain Sharing
Sakura Snack Company manufacturers a line of snack foods, such as cheese crackers, granola bars, and cookies. The production worders are part of a gain-sharing program that works”
“In January, Reyes Tool & Dye requisitions raw materials for production as follows: Job 1 $900, Job 2 $1,200, Job 3 $700, and general factory use $600.
During January, time tickets show that the fact”
What are fringe benefits? Name some of the components of fringe benefits
“Scott Company was organized on January 1, 2007, by 3 friends. Each organizer invested $50,000 in the company and, in turn, was issued 10,000 shares of stock.
To date, they are the onl”
On May 10, Romano Corporation issues 1,000 shares of $10 par value common stock for cash at $18 per share. Journalize the issuance of the stock.
“Dec. 31, 2009
Gain on sale of land $12,000
Proceeds from sale of land $20,000
purchase of bonds(face value $200,000) $360,000
amortization of bond discount $4,000
cash dividend”
As a newly minted CPA, you obtain your first significant position as a tax professional: Senior Tax Accountant for one of the offices of a regional accounting firm. Of course, the firm runs a notice
Are there new markets in which the products can be sold for McDonald’s Corp.? Please provide references.
“Direct Materials: .74 per meat pizza and .62 per veggie pizza
Direct Labor: 2.51 per meat pizza and 2.78 per veggie pizza
Mothly fixed selling and admin: 15,300
Monthly fixed Manuf Over: 2,85″
“Could you please help me with this two problems?
Case 13-4 Application of SFAC No. 13
On January 1, 2006, Lani Company entered into a noncancelable lease for a machine to be used in its manufacturin”
Marc and Michelle are married and earned salaries this year (2009) of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500…
“Delta company produes a single prouct. The cost of producing and selling a single unit of this product at the company normal activity of 60,000 units per year is:
direct materials $5.10
Direct labor”
One of the typical risk managers’ jobs is to “supervise a loss prevention program, including planning to minimize losses from anticipated crises”. Please apply this strategy to your organization and c
see the attachment The following financial statement information is from five separate companies: Company A December 31, 2008 Assets Liabilities December 31, 2009 Assets Liabilities During year 2009 S…
“Use the following to answer questions 21-24:
Fortes Co. uses the following per unit standards in the production of its only product:
Direct material – 18 pounds at $24 per pound
Direct labor – 6″
“Explain the following in a short memo to your instructor.
The comparative advantages and disadvantages of ideal versus normal standards.
The factors that should be included in setting the pr”
On June 30, 2013, Omara Co. had outstanding 8%, $4,000,000 face amount, 15-year bonds maturing on June 30, 2023. Interest is payable on June 30 and December 31. The unamortized balances in the bo
the responsibility to review the work of the accountants and issue opinions as to the fairness of the financial statements rests with: a. the external auditor, b. the board of directors, c. the intern
A whistle-blower in her allegations made in a qui tam suit, alleged that her former employer fired her because she told the company that it was “padding the bills” to the federal government for the co
Clark Paints: The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchasing t
Rene Rogers has adjusted gross income of $40,000. She has medical expenses of $5,000 and $3,000 of miscellaneous itemized deductions subject to the two-percent-of-AGI limit. In addition, she has a cas
“You asked:
“”Matthews Co. obtained all of the common stock of Jackson Co. on January 1, 2009. As of that date, Jackson had the following trial balance:
During 2009, Jackson reported net income o”
During 2010, Martin Corporation sold merchandise costing $2,100,000 on an installment basis for $3,000,000. The cash receipts related to these sales were collected as follows: 2010, $1,200,000; 2011,
What are some of the costs involved with Hedging?
Entry Way Manufacturing produces two types of entry doors: Deluxe and Standard. The assignment basis for support costs has been direct labor dollars. For 2010, Entry Way compiled the following data fo…
comparative balance sheets for Bayshore Industries, Inc, as of December 31, year 2 and year 1,
“””The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2010.
In 2010, 15000 shares were authorized and 7000 shares of common stock ($50 par value) w”
Please help needed ASAP accounting all the question must be answer at the attachment.
“Get your custom answer from our expert tutors to this homework question:
4-5A HOGAN THRIFT SHOP
PAYROLL REGISTER
FOR PERIOD ENDING December 18 20
MARITAL STATUS NO. OF W/H ALLOW. DEDUCTIONS”
“””You are an accountant in a medium-sized manufacturing company. You have been asked to mentor an accounting clerk who is new to your accounting department.
Explain why adjusting entries are necessa”
“Consider the passive loss limitations (under IRC 469) discussed in the text.
What potential or actual abuse was Congress attempting to curtail?
Has Congress been successful in light of the fact that”
“Find the latest 10k of Domino’s pizza and please answer the following:f) What is the basic earnings per share (EPS) for continuing operations as it appears in the income statement for the past two yea”
“Get your custom answer from expert tutors on course hero to this homework question:
Problem:
Exercise 18-4A Job-order costing in a manufacturing company
Seahawk Inc. builds sailboats. On January 1″
thank you Module 7 Exercises Problem 1 An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts of Conard Corp. uncovered the following items. …
“Are my questions being worked on or am I out in the cold on these questions? It is past the deadline requested. Please respond ASAP. I need to know whether they are being worked on or not.
Beth”
A company has sales of $100,000, ending finished goods inventory of $9,000, variable manufacturing costs of $50,000, and fixed manufacturing costs of $28,000 for the year. Assuming the company uses d
“18. Firm Value Young Corporation expects an EBIT of $16,000 every year forever. The company
currently has no debt, and its cost of equity is 15 percent.
Suppose the company ca”
Largo Company recorded for the past year sales of $730,000 and average operating assets of $365,000. What is the margin that Largo Company needed to earn in order to achieve an ROI of 14%?
I still have not received any reply from my request 5-7: The Village of Harris issued $5,000,000 in 6 percent general obligation, taxsupported bonds on July 1, 2008, at 101. A fiscal agent is not us…
“5. Useful lives for realty include all of the following except:
25 years
5 years
39 years
40 years”
“The following transactions took place at serene trails hike and bike shop. Indicate the general ledger account numbers that would be debited and credited to record each transaction.
General Ledger ac”
“Dylan Co. set up a petty cash fund for payments of smallamounts. the following transactions involving
the petty cash fund occurred in May (the last month of thecompany’s fiscal year).
May 1 Prepar”
I have reduced the questions .. 1. 3. Which of the following accounting concepts/principles is most significant in the development of a capitalization policy? a. Matching of revenue and expense. b. Ma…
“The Audit Report and Internal Control Evaluation. This paper should be posted as a Microsoft® Word attachment in the Assignment Section and should adhere to APA formatting style.
Please note ther…”
“ABC Company produces the fuzzy bear which is a stuffed animal with 99 percent natural fibers.
Each fuzzy bear requires a standard of four square yards of cotton cloth. The standard price is $1.0″
payroll and accouting 2010 end of the chapter project see: attachment JOURNAL DATE 20– Oct. DESCRIPTION 9 Payroll Cash Cash Page 41 POST. REF. DEBIT 12 11 9 Administrative Salaries Office Salaries Sa…
“Nikeya sells land (adjusted basis of $60,000) to her adult son, Shamed, for its appraised value of $50,000.
Which of the following statements is correct?
Nikeya’s recognized loss is $10,000 ($5…”
Roberts Inc. transferred all its assets to Acquisition Inc. for $300,000 worth of its voting preferred and $50,000 in cash to the sole shareholder (Ann) of Roberts Inc. Ann’s basis in her shares was…
discuss the advantages and disadvantages of secret reserves in accounting.
Elder Attorney had practiced law for several years and had accumulated $50,000 in accounts receivable. He reported his income for tax purposes under the cash receipts and disbursem*nts method. Elder f
Bradley sent me a copy of his test of controls work that he did on sales transactions. (Please tell him to send his work to you, rather than me.) Based on what Bradley found, there looks to be some se
Several years ago Polar Inc. purchased an 80% interest in Icecap Co. The book values of Icecap’s asset and liability accounts at that time were considered to be equal to their fair values. Polar paid
A retail company begins operations late in 2000 by purchasing $600,000 of merchandise. There are no sales in 2000. During 2001 additional merchandise of $3,000,000 is purchased. Operating expenses (ex
“15) Congress Manufacturing is currently working on two jobs. The job order cost sheets for Job 101 and Job 102 showed the following information:
Job 101 Job 102
Direct Materials $12,000 $15,000″
P2-2A Jane Kent is a licensed CPA. During the first month of operations of her business, Jane Kent, Inc., the following events and transactions occurred. May 1 Stockholders invested $25,000 cash in ex…
“Budget 09 Actual 09
Direct material used 2000000 1900000
direct manufacturing labor cost 1500000 1450000
manufacturing OH cost 270″
I have an accounting assignment need to finish before 12/7/2011. FINANCIAL ACCOUNTING – Eighth Edition Solutions Manual ACCT 212 : Course Project 2 Learning Objectives : Preparing commonsize stateme…
Most of us probably use computers on a regular basis and those within the accounting field, of course, utilize accounting software. As we know, there are limitations on computers and software. Describ
“For each of the following situations, determine the necessary adjustments.
A firm purchased a two-year insurance policy for $3000 on July 1, 2010. The $3000 was debited from the Prepaid Insuranc”
“When a firm purchases supplies for its business:
The supplies account should always be debited.
The supplies expense account should always be debited.
Either the supplies account or the suppli”
Jose wants to cash in his winning lottery ticket. He can either receive five, $5,000 semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. Wh
Problem 1 (Reference A1 & P1) Examine the following transactions and identify only those that create revenues for your unincorporated sole proprietorship. Prepare this month’s (July) general journal…
How would U.S. Treasury bonds be classified on the balance sheet?
What is the difference between technical default and actual default.
“4 On a CVP graph for a profitable company, the total expense line will be steeper than the line representing fixed costs.
True
False
The Kafusi Company has the following budgeted sales:”
How do restricted contributions, gifts, and bequests are accounted for by nongovernmental VHWOs (a) at receipt) and (b) upon expenditure.
Dirk has $228,000 of earned income in 2010. What is the amount he can contribute to a SEP?
Identify the process of cost commitment during various phases of some product’s life cycle. Try to find serveral examples so that you can contrast the rate of cost commitment for different products ?
attachment E13-13 The stockholders’ equity section of Jarvis Corporation at December 31 is as follows. JARVIS CORPORATION Balance Sheet (partial) Paid-in capital Preferred stock, cumulative, 10,000 …
“You need to prepare a memo (GA-5) addressing materiality for Apollo Shoes. Remember that the workpapers document that we are following Generally Accepted Auditing Standards. In the memo,
Briefly”
“multiple choice have- three free questions for today
Which of the following is not likely to be a fixed cost?
Direct materials
Rent
Depreciation
Salary of the human r”
14 Soenen A/S is a fully owned Norwegian subsidiary of Mehta Montana Co. (MM), a U.S.-based corporation. The budgeted income statement of Soenen A/S for 20×3 follows. Soenen is expected to transfer it
Mark Company currently sells a video recorder with a selling price of $300 per unit. The variable expense per unit is $175 and fixed expenses are $100,000. If the company reduces variable expenses by
“On December 31, 2007, the payee on a $4,500, 120-day, 10% note dated November 1, 2007, will recognize: (Points: 5)
interest receivable, $150.
interest receivable, $75.”
A real estate company borrowed $415,000 to develop some condos. It amortized the loan to pay monthly for 4 years at 7% interest. Find the amount of each monthly payment. THANKS!!
“1.
(Points: 1)
With respect to a corporation, select the statement that is correct.
Its organization requires an approved charter which is governed by state law.
Ownership rights to th”
“3. Which of the following is true? The choice of LIFO versus FIFO will:
not affect net income or cash flow from operations
not affect net income but will affect cash flow from operations
C)”
I have attached the problems that I have to do. E5-2 Using the following data, determine which figures should be inserted in the blank spaces. Beginning Units started Units Ending units Equivalent uni…
Vandall Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During April, the company budgeted for 7,300 unit
Discuss the three different types of activities—operating, investing, and financing—associated with a statement of cash flows.
“Gross Profit Method
King Co. requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $76,000. Purchases since January 1 were $144,000;
freight-in,”
Vern’s makes all sales on account, and has the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the se
“The City of Happy Valley records the following property tax transactions. Prepare the journal entries.
Property taxes of $10,000,000 are levied and 5% are estimated to be uncollectible.
“
On December 1, 2010, Richards Company sold some machinery to Fleming Company. The two companies entered into an installment sales contract at a predetermined interest rate. The contract required four
On audit, an IRS agent determines that $90,000 of the amount paid to each of the shareholders is unreasonable compensation. What effect will the IRS agent’s finding have on the taxable income of the s
What is the role of the CPA and how does it differ from other accountants? What is the value of the accounting function in your organization, both internally and externally?
“Michael,
Hello how how are. It was a quiz and all I know is got wrong. However, the book does not go with this class. This is how she gave it us. No one in the class understands her either.
Be”
“12. T F The lesser must expense immediately any costs paid to independent third-parties for things such as appraisal fees, finder’s fees and cost of credit checks. If false please explain.”
Please can you answer the following questions. Thanks 3. Lighthouse Corporation uses the NPV method for selecting projects, and it does a reasonably good job of estimating projects’ sales and costs….
“• Strategic/ Critical Thinking
Recommend improvements that align with the company’s strategy, goals, and culture. Assume your group has been employed as consultants by your company. Discuss the …”
“An examination of the RB Partnership’s tax books provides the following information for the current year:
Operating (ordinary) income before guaranteed payments $225,000
Qualified dividend inco…”
Mobile Co. issued a $45,000, 60-day, discounted note to Guarantee Bank. The discount rate is 6%. At maturity, the borrower will pay: A.) $45,000 B.) $42,300 C.) 45,000 D.) $44,550
“Which of the following is an example of an organization that would use job-order accounting?
an oil refinery.
a custom construction company.
None of the answers is correct.”
Retleb Manufacturing Company noticed that, during its busiest month of 20xx, maintenance costs totaled $15,400, resulting from the production of 32,000 units. During its slowest month, $12,600 in mai
“Macready Company is considering introducing a new compact disc player model at a price of $105 per unit. Macready’s controller has compiled the following incremental cost information based on an esti
“The occurrence that most likely wold have no effect on 2010 net income is the
a)stock purchased in 1996 deemed worthless in 2010
correction of an error in the financial statements of a prior per”
Hardy Inc. has an investment in available-for-sale securities of $80,000. This investment experienced an unrealized loss of $5,000 during the current year. Assuming a 35% tax rate, the effect of this …
“The sales, income from operations, and invested assets for each division of Garner Company are as follows:
Income from Invested
Sales Operations Assets
Division E $3,000,000 $470,000 $2,500,00″
“3. Cook’s Outlet has been an S corporation since its inception six years ago. On January 1 of the current year, the corporation’s two equal shareholders, Davis and Dane, had adjusted bases of $150,000”
Can you please answer my questions on accounting? It is attached to this.
“E5-22A (Learning Objective 3: Using the allowance method for bad debts) On September 30, Hilly Mountain Party Planners had a $30,000 balance in Accounts Receivable and a $2,000 credit balance in Allow”
At the end of 20C, Allen Corporation reported a retained earnings credit balance of $50,000. During 20D, Allen reported the following amounts: Cash dividends declared and paid $15,000, net income of $
Crede Manufacturing Company uses a standard cost accounting system. In 2005, 33,000 units were produced. Each unit took several pounds of direct materials and 11⁄3 standard hours of direct labor at …
TAX RESEARCH MEMORANDUM ASSIGNMENT WEEK 7 RESEARCH PROJECT (Set #2) ACCT 429 DeVry University IMPORTANT NOTE TO STUDENTS This assignment is being distributed solely for your use in completing the Week…
“Which of the following best describes the auditors’ approach to the audit of the ending balance of property, plant and equipment for a continuing nonpublic client?
Direct audit of the ending balan”
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company’s income statement for the 2011 fiscal year reported the following i
“Professor Shinedling
A dilutive security can be either a bond or a preferred stock. The reason they are referred to as a dilutive security is because the security can be converted into common stock”
Quantacc Ltd. began operations on January 1, 2009 and uses IFRS to prepare its consolidated financial statements. Although not required to do so, to facilitate comparisons with companies in the US, Qu
“P5-3 (Balance Sheet Adjustment and Preparation) The adjusted trial balance of Side Kicks Company
and other related information for the year 2007 are presented on the next page.
(L0 3)
(L0 3)
(L0 3″
“Intermediate Accounting, 13th Edition, Kieso, Weygandt, and Warfield.
I need answer for Chapter 20, Problem 7 (p20-7)
Hanson Corp. sponsors a defined-benefit pension plan for its employees. On”
“1.Browning Inc. production budget for Product X for the year ended December 31 is as follows:
Product X
Sales 640,000 units
Plus desired ending inventory 85,000
Total 725,000
Less estimated be”
What is a formal means of distinguishing between random and nonrandom variation in an operating process?
Problem Two: Adjusting from LIFO to FIFO Below are selected numbers extracted from Harnischfeger’s Year X2 financial statements (numbers are in thousands). Inventories valued using the LIFO method …
“Prepare an internal brief of no more than 1,050 and accompanying 5- to 8-slide Microsoft® PowerPoint® presentation in which you address the following:
Describe how the selected computer assis…”
Madison Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2012 totaled $18,000 of materials, $9,000 of direct labor costs, and $6,000 of ma
“I’ve been working on these problems for a while now, and I can’t seem to understand them, please help.
The Patuxent Rail Company’s sales for the next three months are as follows:February $165,000
M”
Problem 1 – Picture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various sizes. Historically, the average frame requires four feet of framing, one square f
(TCO B) Adjusting Entries: Accumulated depreciation-equipment at 1/1/10 was $230,000. At 12/31/10 the balance of the account was $380,000. During 2010, one piece of equipment was sold. The equipmen
“PROBLEM TWO
Car Corp. (a U.S.-based company) sold parts to a Korean customer on December 16, 2006, with payment
of 10 million Korean won to be received on January 15, 2007. The follo”
Purchased equipment paying $20,000 down and signed a non-interest-bearing note requiring the balance to be paid in four annual installments of $20,000 on the anniversary date of the contract. Based on
“P10-7A The intangible assets section of Redeker Company at December 31, 2008, is presented
Patent ($70,000 cost less $7,000 amortization) $63,000
Franchise ($48,000 cost less $19,200 amortiz”
“Sele Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2010, the company incurred the following costs.
Variable Cost per Unit
Direct materials $6.50″
On December 1, Doris Turner opened a speech and hearing clinic. During December, her firm had the following transaction involving revenue and expenses. Did the firm earn a net income or incur a net lo
which is income statement approach? perecnt of sales or aging of accounts receivable E xam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the s…
17-8 What is the advantage of recognizing materials price variances at the time of purchases rather than at the time of use?
Software Solutions, Inc., was started by two young software engineers to market SpamBlocker, a software application they had written that screens incoming e-mail messages and eliminates unsolicited m…
“35-If management declines to present supplementary information required by GAAP, the auditor should express
sibAn unqualified opinion with an additional explanatory paragraph.
An adverse opi”
Willow Corporation exchanged land valued at $250,000 (adjusted basis = $175,000) for a building owned by Tree Corporation valued at $350,000 (adjusted basis = $200,000) and $50,000 cash. In additio
Why are differences in reported amounts for deferred taxes among the most frequent between the IFRS and the U.S., despite the fact that the two follow similar approaches for accounting for taxation?
“Business Analysis & Valuation 4th edition
Authors: Palepu & Healy
Computer Associates International Inc. Case (Page 143-161)
What was CA trying to accomplish by the change in its business mo”
“13.
Standard Company has developed standard manufacturing overhead costs based on a capacity of 180,000 direct labor hours as follows:
Standard overhead costs per unit:
Variable portion 2 hour”
“1) Information related to Company ABC (British subsidiary) include the following:
British pound sterling (millions)
a) Net Sales 12,051
b) Gross Profit 4,891
Income”
“””1.
Direct material purchased and used, 80,000 gallons
Standard quantity of direct material allowed for May production, 76,000 gallons
Actual cost of direct materials purchased and used, $176,000″
“THE GENERALS FAVORITE FISHING HOLE:
Bob night opened the generals favorite fishing hole the fishing camp is open from April through September & attracts many famous college basketball coaches during”
When you know of a change in tax rates, you should make a change in the deferred taxes in the year you become aware of the change. T/F if false, please explain.
Bantay Co. allows select customers to make purchases on credit. Its other customers can use either of two credit cards: Zisa or Access. Zisa deducts a 2.50% service charge for sales on its credit card
It has to be done at evening. I can pay extra. Assignment 5 BE5- 10 Hawthorn Corporation’s adjusted trial balance contained the following accounts at December 31, 2010. Retained Earnings $120,000; C…
“(Gross Profit Method)
Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May.
Inventory, May 1″
“Supler Company produces a part used in the manufacture of one of its products. The unit product cost is $18, computed as follows:
Direct materials $8
Direct labor 4
Variable manufacturing overhe”
“Nature and Recognition of an Estimated Liability
5.
The decision to recognize and record a liability is sometimes a matter of judgment. People who use General Motors credit cards earn rebates to”
“The Defiance College sells season tickets for four home football games at a price of $15. For the 2011 season, 5,000 season tickets were sold. Each part is worth 5 points.
Question:
Where on the b”
“Software Solutions, Inc., was started by two young software engineers to market SpamBlocker, a
software application they had written that screens incoming e-mail messages and eliminates unsolicited”
Mosbey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $16,000. Budgeted cash receipts total $188,000 and budgeted cash disbursem*nts total $187,000. The desired
“QUESTION 1(TCO D) The following balance sheet was prepared by the bookkeeper for Purple Company as of December 31, 2011
Purple Company
Balance Sheet
as of December 31, 2011
Cash”
For people who own their own company, their FICA tax rate on income up to about $90,000 is 15.3%. That is a lot on top of their other taxes. If they are in a federal 27% rate, and have state and city
“Yoni Corporation manufactures skateboards and is in the process of preparing next year’s budget. The pro forma income statement for the current year is presented below:
Sales (60,000 units) $1,8…”
Differentiate between the operating and financial budgets that are contained n a master budget. Why are both types needed?
“””Which of the following activities is most likely to be classified as value-added for a manufacturing company?
storing
ordering
inspecting
assembling
Which of the following”
“Comprehensive Problem for Chapters 1-5
Completing a Merchandiser’s Accounting Cycle”
Exercise E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for com…
“Ratio Analysis
The current ratio for a company with current assets of $70,000, quick assets of $30,000, total assets of $150,000 current liabilities of $50,000 and net sales of $80,000 would be:”
1 Pg. 94-95 (Predetermined OH rate) For 2010, Omaha Mechanical has a monthly overhead cost formula of $42,900 + $6 per direct labor hour. The firm’s 2010 expected annual capacity is 78,000 di…
The city council of Greenville adopted a budget for the general operations of the government during the new fiscal year. Revenues were estimated at $695,000. Legal authorization for budgeted expendi
“Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The
following information pertains to Wheal Company on the date of acquisition:
Book Value Fair Value
“
“Which of the following items should be considered in addition to simplicity by managers when designing
cost-benefit balances should be considered
behavior implications should be considered”
“P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows.
PORTER COMPANY
Worksheet
For the Year Ended December 31, 2008
Adjusted
Account Trial Balance
Acco”
“On May 31, 2007, Core Company issued 1,000, 14%, 10-year $1,000 bonds at 105. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at 102, but the ma
“Explain the following in a short memo to your instructor.
The comparative advantages and disadvantages of ideal versus normal standards.
The factors that should be included in setting the pr”
I have attached the assignment. Please help. University of Phoenix Online Accounting 423 Week 5 – Individual Assignments James L. Eads, CPA, MST, MSF Grading: This assignment is worth a total of 75 …
“This week’s discussion focuses on Activity 4-2, located on p. 161 of your textbook, which reads as follows:
The Eclipse Video Store Co. is owned and operated by Jared Helms. The following is an…”
“5. Which of the following may not be partners in a partnership? (Points : 5)
Sole proprietorship
Corporation
S corporation
LLC
All may be partne”
Phantasy, Inc. is a research and development company that primarily develops and patents products. Phantasy, Inc. then licenses other companies to produce and sell the products. In return, Phantasy, I
Tobias sells equipment for $16,000 which had been purchased for $90,000 and on which $60,000 of depreciation had been taken. He had used the equipment in his business for several years. Tobias has:
“You asked:
“”PROBLEM # 2
Condensed financial data of Fulton Corp. for 2008 and 2007 are presented below.
FULTON CORP.
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2008 AND 2007
2008 2007
Cas”
Most of the countries in Europe are engaging in a a unified organization in order to combat the effects of the US in the western hemisphere and Japan in the far east. What effect do you think this
Loan A has the same original principal, interest rate, and payment amount as Loan B. However, Loan A is structured as an annuity due, while Loan B is structured as an ordinary annuity. The maturity da
“Assume that Taft uses the basic equity method. Record all journal entries that relate to its investment
in the Norwegian subsidiary during 20X5. Provide the necessary documentation and
support for t”
the factor 1.08160 is taken from the 4% column and 2 periods row in a certain table. From what table is the factor taken?
Swan’s sportswear is considering bringing out a line of designer jeans. Currently, it is negotiating with two different well-known designers. Because of the highly competitive nature of the i…
On December 31, 2002, Podil Corp. purchased 75% of the common stock of Sumy Co. for $2,317,500. On that date, the fair value of the noncontrolling interest was $772,500, and Sumy had common stock with…
discuss how different stakeholders will benefit from segment financial reporting.
Mantle Corp. acquired a 25% interest in Babe Ruth Co. on January 1, 2010, for $500,000. At that time, Babe Ruth Co. had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2010,
“Dinkel Manufacturing Corporation accumulates the following data relative to jobs started and finished during the month of June 2010.
Costs and Production Data
Actual
Standard
Raw materials u”
Rank Alanson, Boyne, and Conway from most profitable to least profitable according to the initial system’s estimate of the contribution of each customer to Jamestown’s bottom-line profitability. Wh…
On January 15, 2011, Vancey Company paid property taxes on its factory building for the calendar year 2011 in the amount of $560,000. In the first week of April 2011, Vancey made unanticipated major r
“The income statement for a merchandising company shows each of these features except:
gross profit.
cost of goods sold.
a sales revenue section.
All of these are present.
Th”
On January 2, 2011, Kinnaird Hospital purchased a $100,300 special radiology scanner from Faital Inc. The scanner has a useful life of 5 years and will have no disposal value at the end of its useful
“The Keaton, Lewis, and Meador partnership had the following balance sheet just before entering liquidation:
Keaton, Lewis, and Meador share profits and losses in a ratio of 2:4:4. Noncash assets”
“If you make the entry:
DR supplies expense
CR accrued expenses
and don’t make a reversing entry, what is the entry when you pay the bill for supplies?”
“23
Farm Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $10,835. All sales are subject to a 5% sales tax. Compute sales taxes payable and mak”
Casin Company sells $800 of merchandise on account to Delta Exploration with credit terms of 2/10, n/30. If Delta Exploration remits a check taking advantage of the discount offered, what is the amoun
If the total fixed costs are $850,000, the sale price is $110 and the variable cost per unit is 25, what is the breakeven volume?
Khiem, Inc. manufactures baseball gloves that normally sell for $55 each. Khiem currently has 400 defective gloves in inventory that have $35 of materials, labor, and overhead assigned to each glove. …
“In my advanced accounting course we are studying formation,operation, termination and liquidation of partnerships. I have researched this problem with no luck. Here is the question:
Under what circ”
“9-15. Identify one or more control procedures (either general or application controls, or both) that would guard against each of the following errors or problems.
Leslie Thomas, a secretary at the”
In 2010, Dooling Corporation acquired Oxford Inc. for $250 million, of which $50 million was attributed to goodwill. Dooling tests for goodwill impairment at the end of each fiscal year. At the end of
Blue Mountain Power Company obtained authorization to issue 20-year bonds with a face value of $10 million. The bonds are dated May 1, 2011, and have a contract rate of interest of 10 percent. They pa
“Deer Valley Lodge has a plan to add 5 new lifts. One lift costs $2million
preparing the slope & installing another lift costs $1.3 million.
Lift allows 300 add’tl skiers on slope, however,there are”
“1.Calculate the value of duration for a four-year, $1,000 par value U.S.
government bond purchased today at a yield to maturity of 15 percent. The
bond’s coupon rate is 12 percent, and it pays int…”
“Parcell Company contracted on 4/1/07 to construct a building for $2,500,000. The project was completed in 2005. Additional data follow:
2007 2008 2009
Costs incurred to date $”
What would you summarize as the single most important factor in selling your budget to the key decision making person or people in your organization?
Determine the seasonality of revenue, if applicable for for McDonald’s Corp. Please provide references.
Terri Ronsin had recently been transferred to the Home Security Systems Division of National Home Products. Shortly after taking over her new position as divisional controller, she was asked to develo…
do u have an answer for Fargo publishing case 13-2 accounting information systems
The Village of Harris issued $5,000,000 in 6 percent general obligation, tax supported bonds on July 1, 2011, at 101. A fiscal agent is not used. Resources for principal and interest payments are to c
“At December 31, 2008, the trial balance of Worcester Company contained the following amounts before adjustment.
Debits Credits
Accounts receivable $385,000
Allowance for doubtful accounts $2,000″
On March 1, Gridley sold an additional 250,000 shares on the open market at $20 per share. Gridley issued a 20% stock dividend on May 1. On August 1, Gridley purchased 140,000 shares and immediately
“The following selected accounts appear in the ledger of Clear Skies Environmental Corporation on July 1, 2008, the beginning of the current fiscal year:
Preferred 2% stock, $100 par (25,000 shares”
“Ruxton, Inc. accounts for all sales of its merchandise on the installment basis. Following is the unadjusted trial balance at 12/31/09:
Cash $ 90,200
Installment Accounts Receivableâ��2007 17…”
Given the following information for Evenflow Power Co., the WACC is Assume the company’s tax rate is 33 percent. (Do not include the percent sign (%). Round your answer to 2 decimal places.
“20) A credit to an asset account was posted to an owner’s equity account. This
error would cause:
assets were overstated.
owner’s equity was overstated.
liabilities were overstated.
…”
Depreciation is a process to allocate the cost of long-life assets to each period’s income statement and adjusts the value of the asset on the balance sheet. (1) Explain how the Double-declining-balan
“You asked:
“”4. Calculate earnings per share for the following:
Net income $500,000
Interest expense $ 50,000
Preferred Dividends paid $ 75,000
Common Dividends paid $100,000
Preferred shares o”
(8 Points total, 4 points each). Assume that you are considering the purchase of a $1,000 par value bond that pays $70 each six months and has 10 years before it matures. If you buy this bond t
“have three free questions for today
multiple choice question
Which of the following steps is not involved in the ABC approach?
Identify activities which cause costs to be incurred.
A”
Riter Corporation manufactures water toys. It plans to grow by producing high-quality water toys at a low cost that are delivered in a timely manner. There are a number of other manufacturers who prod
“AE9-9
(Purchase Commitments)
Prater Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed a long-term noncancelable purch”
Fleming Company sells a product for $50 per unit. The fixed costs are $525,000 and the variable costs are 60% of the selling price. As a result of new automated equipment, it is anticipated that fixed
“Outsourcing decision
Sunny Hazel, the manager of Cyber Web Services, must decide whether to hire a new employee or to outsource some of the web design work to Ky To, a freelance graphic designer. If”
“Number 7 on page 263 –
Project Evaluation – Dog Up! Franks is looking at a new sausage system with an installed cost
of $430,000. This cost will be depreciated straight-line to zero over the pro”
Augustus owns five activities. He elects not to group them together as a single activity under the “appropriate economic unit” standard. He participates for 140 hours in Activity A, 165 hours in Act
What are the commonly used components when measuring economic damages in a wrongful discharge case?
Using Landry’s Restaurants, Inc. 2003 Annual Report located in Appendix A of the text, Fundamentals of Financial Accounting, prepare a 1,050-1,750-word paper in which you answer ALL of the following q
Attached homework question due on Sunday evening, please let me know if you can help. Session 5 Problem 1 The Gigi Company has the following transactions during the months of April and May: Date April…
“Project A 0=-6000
1=2000
2=2000
3=2000
4=2000
5=2000
Project B 0=-18000
1=5600
2=5600
3=5600
4=5600″
“13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separ…
“1. how does the consolidation process tend to disguise information needed to analyze the financial operations of diversified organization?
The management approach requires a firm to define segme”
An item that cost Rs. 2300 was marked up 38 % of the selling price. After some time the item is markdown 30 %. Calculate the sale price after markdown.
“The current ratio is…
current assets divided by current liabilities.
current assets minus current liabilities.
current assets times current liabilities.
current assets plus c”
Royal Financial Services (RFS) provides front end loan origination services for a number of banks who process and maintain loan portfolios. RFS accepts applications from customers and processes them t…
COMPANY A Has been offered a contract by a customer,Company B,to purchase 4000 units of a product X at a price of RM120 per unit.The management of COMPANY A have estimated that the production resour
attached During its first year of operations, Harlan Corporation had the following transactions pertaining to its common stock. (List multiple debit/credit entries in descending order of amount.) Jan….
“Comprehensive Problem for Chapters 1-5
Completing a Merchandiser’s Accounting Cycle
A: Supplies consumed during the month $1,500. Half is selling expense, and the other half is general expense.
B”
“Problem
Knoxville musical sales, Inc. is located at 5500 Kingston Pike, Knoxville , TN 37919The corporation uses the calendar year and accrual basis for both book and tax purposes. It is engaged in”
“1) Compute the actual hours worked, rounded to the nearest hour.
Compute the actual purchase price per unit of materials, rounded to the nearest penny
Standard direct labor rate$14.00
..”
“5. Which of the following is not a characteristic of a like-kind exchange? (Points : 5)
The holding period for like-kind property includes the holding period of the property surrendered.”
from the following list of activity bases for an automobile dealership, select the base that would be most appropriate for each of these costs: (1) preparation cost (cleaning, oil, and gasoline costs)
“9) Lance and Wanda Dean are married. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time by a law firm as a paralegal.
During 2011, the Deans h”
. The following cost items relate to the Brock Company. Classify each cost as a variable cost, a fixed cost, or a mixed cost by placing an X in the appropriate column. Each cost should be evaluated in
Assume that on January 012011 Kimberly ClarkCorp signs a 10 year noncancelable lease agreement tolease a storage builing from trevino storage company the following information pertains to this lease:
“Michael I will pay $100, but I need it by 6PM or I am going to have to to else where. Im sorry.
When property is transferred, the gift tax is based on
replacement cost of the transferre”
“Question 2
At the end of 2009, Tatum Co. has accounts receivable of $695,739 and an allowance for doubtful accounts of $34,061. On January 24, 2010, it is learned that the company’s receivable from”
Robert Johnson contributed equipment, inventory, and $42,000 cash to the partnership. The equipment had a book value of $25,000 and market value of $28,000. The inventory has a book value of $50,000
TMTOMH Company reported in its annual report software refinement expenses of $12M, $15M and $18M for fiscal years 2007, 2008 and 2009, respectively. At the end of fiscal 2009 it had total assets of $
Assuming a company uses GAAP to determine financial income, what is the process for computing a corporation’s taxable income?
A)On July 25, 1981, office supplies estimates to cost $2,390 were ordered for the city’s manager’s office of Bullersville. Bullersville, which operates on the calender year, does not maintain an i
Soto, Inc. purchased land, building, and equipment from Henry Corporation for a cash payment of $346,500. The estimated fair values of the assets are land $66,000, building $242,000, and equipment $88
Irvine Company began the current period with a $35,000 credit balance in the M. Irvine, Capital account. At the end of the period, the company’s adjusted account balances include the following tempora
Document attached. Need help with as many as possible please!
Why are temporary and permanent accounts different when it comes to closing them (or not)?
“Enviro Corportation manufactures a special liquid cleaner at its Green Plant. Operating data for june follow
Material $714,000
Labor 61,200
Manufacturing Overhead”
On January 1, 2011, John decides to start saving for a vacation trip. He begins making semiannual deposits of $400 to a special account on June 30, 2011. This account pays interest at the rate of 4%,
“6-1A on p. 251.
Parker Company uses a perpetual inventory system. It entered into the following calendar-year 2005 purchases and sales transactions”
A company had common stock with a total par value of $18,000,000 and fair value of $62,000,000; and 7% preferred stock with a total par value of $6,000,000 and a fair value of $8,000,000. The book val
“A company issues 9%, 20-year bonds with a par value of $750,000. The current market rate is 9%. The amount of interest owed to the bondholders for each semiannual interest payment is.
Answer
$”
“The curve that shows the change in total revenue that accompanies a change in quantity sold is called the:
marginal revenue curve.
average cost curve.
profit curve.
demand curve.
r”
Seahawk Inc. builds sailboats. On January 1, 2004, the company had the following account balances: $40,000 for both cash and common stock. Boat 25 was started on February 10 and finished on May 31. To
The records of Mandy’s Boutique report the following data for the month of April. Sales $110,200 Purchases (at cost) $63,800 Sales returns 2,320 Purchases (at sales price) 102,080 Markups 11,600 Purch…
I need help with P 4-2 I’m sending you attachment this is the only problem I need help with Thanks for any help you can give Intermediate Accounting LP 3: Question: Q 16- Indicate where the following …
Purchasing power parity In the spot market 7.8 Mexican pesos can be exchanged for 1 U.S. dollar. A compact disc cost $15 in the United States. If purchasing power parity (PPP) holds, what should be
“12-45
You have been with Zaird & Associates for approximately three months and are completing your work on the BizCaz produces pullover knit shirts to address the business casual market for both men”
do you know the Apple Blossom Cologne Company Audit solutions
“Please help with this HW question
Feltzen CO. reports sales of $10,000,000 for 2002 with a gross profit margin of 40%. 20% of its sales are on credit.
2001 2002
AR”
Willingham Construction Company uses the percentage-of-completion method. During 2007, the company entered into a fixed-price contract to construct a building for Richman Company for $30,000,000. The
“hello,
I still confuse about this case
can you help me again, this is about “”lehigh steel””
Lehigh Steel is a specialty steel manufacturer that plummeted from record profits to record losses in”
“A local school district issued a short-term note payable to purchase $500,000 of recreation equipment. The note
will be repaid with General Fund resources. The General Fund would report
Expenditu”
“1) Chartreuse Company has two investment opportunities. Both investments cost $5,000 and will provide the following net cash flows:
Year Investment A Investment B
Year 1 3,000 3,000
Year 2 3,000″
Foxworthy, Inc. is a manufacturer with a calendar accounting year. A physical inventory is taken on January 1, and any items not in inventory are charged to cost of goods sold. The current year is 2
“Ackerman Company was organized on May 31 of the current year. Projected operating expenses for each of the first three months of operations are as follows:
June $64,000
July 81,000
August”
Your trust fund will pay distribute $60,000 per year over the next 20 years. Using a 10% rate of return, what is the present value of the distributions?
“1. what is a father-son-grandson relationship?
when an indirect ownership is present, why is a specific ordering necessary for determining the incomes of the component corporations?”
what information would be found in current assets, long-term investments, property, plant and equipment, and intangible assets on a classified balance sheet?
“On April 1, 2003, Penny Corporation sells land to its 60%-owned subsidiary, Sahl
Corporation, at a $15,000 gain. The land is still held by Sahl on December 31, 2003.
What is the effect of the inte”
“Prepaid expenses are classified as current assets if the services purchased are expected to expire within 12 months or the operating cycle, if that is longer.
true
false”
On January 1, a company issues bonds with a par value of $300,000. The bonds mature in 5 years and pay 8% annual interest each June 30 and December 31. On the issue date, the market rate of interest i
“7) What is the effect on the General Funds’ unreserved fund balance when capital assets are purchased during a year from General Fund revenues?
None of the above, capital assets must be pu…”
“Gross profit will result if:
operating expenses are less than net income.
sales revenues are greater than operating expenses.
operating expenses are greater than cost of goods sold.”
Putnam Company’s 2010 financial statements contain the following selected data: Putnam’s times interest earned for 2010 is (Points: 4) 3 times 4 times. 5 times. 6 times.
“18. Firm Value Young Corporation expects an EBIT of $16,000 every year forever. The company
currently has no debt, and its cost of equity is 15 percent.
What will the value of the fi”
On January 1, 2009, Boxter Inc. issued $100,000 of five-year bonds due December 31, 2013, for $103,604.79 less bond issue costs of $3,000. The bonds carry a face rate of interest of 13% payable annual
“2. Stockholder Incentives Do you agree or disagree with the following statement: A firm’s
stockholders will never want the firm to invest in projects with negative net present values.
Why?”
Del-Ware Gap Company: Income Statement (for the Year Ended December 31, 2008) Sales (20,000 units): $500,000 Variable expenses: $300,000 Contribution margin: $200,000 Fixed expenses: $120,000 Net inco…
“1.
Examples of opportunities for multinationals in Europe include:
the Single European Act.
the removal of the Berlin Wall.
All of the answers a”
“CASE I
ACG 4151
ACCOUNTING STANDARDS CODIFICATION
For each of the items below, provide the appropriate Accounting Standards Codification (ASC) citation:
Accounting treatment for Held to”
I still need the answers to Case 9-30. Please let me know if you are going to be able to send me the assignment.
“13. SML and WACC An all-equity firm is considering the following projects:
PROJECT BETA EXPECTED RETURN
W .75 11%
X .95 13%
Y “
blowing rock railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. the activity base used by bl
Backlog of Orders Received to Sales Ratio. What does it measure? Is it an effective measurement?
“29. When a tax-free right is received, the shareholder may be able to allocate basis to it from his stock, or it may simply have a zero basis.
True/False”
“1). Joint Costs and Additional Processing
Good Earth Products produces orange juice and candied orange peels. A 1,000-pound batch of oranges, costing $400, is transformed using labor of $40 into 10″
I need some help on the cash-basis and accrual-basis income statement and the cash-basis balance sheet and accrual-basis balance sheet. I have attached what I’m supposed to do…please help Week One A…
On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share. Prior to the split, Daniel had 200,000 shares of $15 par value stock. After the split, Daniel’s outstanding
“16) Which of the following is not one of the assumptions underlying cost-volume-profit analysis?
All costs can be segregated into fixed and variable components
Revenues are non-linea”
Hugh owns 90% of Quartz Corporation and Stacy owns the other 10%. In exchange for all of the Quartz stock, Hugh receives 1,000 shares of Turquoise Corporation common stock (value $20,000), and Stacy r…
Cassidy Manning is assistant controller at LeMar Packaging, Inc., a manufacturer of cardboard boxes and other packaging materials. Manning has just returned from a packaging industry conference on ac
Ray, Ronnie, and Joe are partners in a limited partnership. Ray and Ronnie, the limited partners, each own 45% of the partnership, and Joe, the general partner, owns the other 10%. The partnership
What is Bank of America Corporation’s percentage of the accounts receivable balance to total assets for the last two years? If the ratio percentage has changed what accounts for the change?
Mitchell Company uses a flexible budget for overhead based on direct labor hours (DLH). Master budget figures, based on 900,000 direct labor hours, and actual overhead for March, when 88,000 labor hou
“3. A troubled debt restructuring will generally result in a
gain by the debtor and a loss by the creditor.
loss by the debtor and a gain by the creditor.
gain by both the debtor and the c”
Taylor Corporation has used a periodic inventory system and the LIFO cost method since its inception in 2004. The company began 2011 with the following inventory layers (listed in chronological order
“””The following information is available for Remmers Corporation for 2010.
Depreciation reported on the tax return exceeded depreciation reported on the income statement by””
$120,000″
Bing was employed as a taxi driver by Speedy, Inc. While acting in the scope and course of his employment with Speedy, Bing collided with a van driven by Hart. Hart was an independent contractor mak
“Problem1: Identifying cash inflows and outflows
Indicate which of the following items will result in cash inflows and which will result in cash outflows:
Initial investment
Salvage values”
Lake Shuttle Inc. is considering investing in two new vans that are expected to generate combined cash inflows of $20,000 per year. The vans’ combined purchase price is $65,000. The expected life an
“The 7.5 percent preferred stock of tanners floors is selling for $57 a share. What is the firm’s cost of preferred stock if the tax rate is 35 percent and the par value per share is $100?
69 pe”
Lara Company’s budget includes the following credit sales for the current year: September, $25,000; October, $36,000; November, $30,000; December, $32,000. Experience has shown that payment for the c
“Cost Accounting
Which of the following activities is most likely to he classified as value-added for a manufacturing company?
storing
ordering
inspecting
assembling
Which”
Redstone Industrial Resources Company (RIRC) has several divisions. However, only two divisions transfer products to other divisions. The Mining Division refines toldine, which is then transferred to
Acme Manufacturing is a decentralized corporation. Divisions are treated as investment centers. In recent years, Acme has been running about 11% ROA for the corporation as a whole, and has a cost of c
Leasing transactions represent a very significant portion of the capital investments of many companies. The accounting classification of these leases can have a dramatic impact on the financial positi
“Action Items – 1.Read the closing case for chapter 2, Cash Flow at East Coast Yachts, on pages 43-44 in Corporate Finance. 2.Complete the Cash Flow worksheet. I am attaching the cash flow worksheet a…
There are two major types of retirement plans – the defined Benefit Plans and Defined Contribution Plans. What are the major differences between these two? From the employer perspective, which one is
This is a 2 part Assignment, Im putting a deposit of $20, but will pay $30. DATA FOR PROJECT TWO FOR ADVENTURES ADVANTAGE INC. Situation: The firm builds thrill rides for amusem*nt and theme parks. Th…
“9. What is Alexander’s net gain or loss on the liquidation of his 100% interest in an S corporation if the corporation distributes the following three assets to him in exchange for his stock?
…”
“Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2011 purchases and sales transactions.
Date Activities Units Aquired Units Sold”
At December 31, Penny Corporation has total stockholders’ equity of $5,500,000. There are no shares of preferred stock outstanding.At year-end, 250,000 shares of common stock are outstanding and 20,…
Attached two problems. Paying for both. Problem # 1(30 Points ) The following calendar year information about the Tahoma Corporation is available on December 31: The company applies overhead on the ba…
Outright purchase of Smithon stock: a. Should Mr. Jones purchase the stock of Smith outright, leaving Smithon intact? What about issuing debt in his Johnson Services company to pay for the Smith Co…
“Ex. 169
Ogleby Boat Company’s bank statement for the month of September showed a balance per bank of $7,000. The company’s Cash account in the general ledger had a balance of $5,459 at September 30.”
Warren Company is planning to produce 2,000 units of product in 2010. Each unit requires 3 pounds of materials at $5 per pound and a half hour of labor at $16 per hour. The overhead rate is 70% of dir
“uestion 3 (10 points) – Time and Materials Pricing
Richard’s Auto sells and installs automobile alarms. It uses time and materials pricing to set
The following budgeted cost data”
Sloane is a shareholder in a calendar-year S corporation. At the beginning of the year, her stock basis is $10,000, her share of AAA is $2,000, and her share of corporate AEP is $5,000. She receives a
“22-16 (Error Analysis and Correcting Entry) You have been engaged to review the financial statements of Longfellow Corporation. In the course of your examination you conclude that the bookkeeper hired”
(P6-3) Expected interest rate The real risk-free rate is 3 percent. Inflation is expected to be 2 percent this year and 4 percent during the next 2 years. Assume that the maturity risk premium is
Identify the items that are included in merchandise inventory. (In your answer address the special situations of goods in transit, consigned goods, and damaged goods.)
The Fashion Shoe Company operates a chain of women’s shoe shops around the country. The shops carry many styles of shoes that are all sold at the same price. Sales personnel in the shops are paid a …
Ron’s Shingle Corporation is considering the purchase of a new automated shingle-cutting machine. The new machine will reduce variable labor costs but will increase depreciation expense. Contribution
“Marvin L. and Molly S. Hall are married and live at 310 Poplar Avenue, Fort Wayne,
IN 46802. They file a joint return and are calendar year, cash basis taxpayers.
Marvin is a self-employed clai”
distinguish between a debt and equity security. Please also explain the three types of classifications for investments in debt securities.
On January 1, 2009, D Corp. granted an employee an option to purchase 6,000 shares of D’s $5 par common stock at $20 per share. The options became exercisable on December 31, 2010, after the employee
“””Capital Investment Decision: Comprehensive
The Arcadia Manufacturing Company, based in Arcadia, Florida, is one of the fastest -growing companies in its industry. According to Ms. Prinze, the comp…”
“do you have a completed case study?
need help with questions 4,7,10,11,12,13,14,15,16″
Connie (CFO): Well, you know about our “famous” Robert Company acquisition a couple of years ago. We booked $5,000,000 of goodwill from that acquisition, and the accounting rules require us to…
“The standard costs and actual costs for factory overhead for the manufacture of a specified quantity of product are as follows:
Standard Costs
19,000 hours at $6.00″
see the attach Franco Company has 20 employees, each of whom earns $2,600 per month and is paid on the last day of each month. All 20 have been employed continuously at this amount since January 1. Fr…
Discuss the different economic roles of accounting in countries across the world. What are some of the factors that determine the primary role of accounting in a country?
“Our client, Debbie desires to freeze the value of her estate. Explain which of the following assets you would recommend that Debbie transfer during her lifetime:
Life insurance on her life •C…”
30. Received a loan from “The Other Bank:” (acct 27200). You will also need to set up account 27201 for the Discount on the Note. It is a zero interest loan of $15,000 that must be paid…
Neville Company’s standard materials cost per unit of output is $10 (2 pounds × $5). During July, the company purchases and uses 3,800 pounds of materials costing $19,570 in making 1,530 units of fin…
“What is the problem. The question were sent as two different questions. I dont care which one is answered first.
“”Wolfe, Inc., began operations on January 1 of the current year with a $12,000 cash”
payroll project 2010….glo-brite paint company JOURNAL DATE DESCRIPTION Page 41 POST. REF. DEBIT CREDIT 20– Oct. 9 Payroll Cash Cash 12 11 10,988.49 10,988.49 9 Administrative Salaries Office Salari…
Lyman Nurseries purchased seeds costing $25,000 with terms of 3/15 net 30 EOM on January 12. How much will the firm pay if it takes the cash discount? What is the approximate cost of giving up the cas
Bangor Company incurred $70,000 of research costs in year one. In May of year two, it began to sell the products developed through this research. Which of the following is correct regarding these e
P11-3C Hyer Drug Store has four employees who are paid on an hourly basis plus time-anda-half for all hours worked in excess of 40 a week. Payroll data for the week ended February 15,2012, are present
“Which of the following would be least likely to address control over the initiation and
execution of equipment transactions?
Requests for major repairs are approved by a higher level than the de”
“can you please show me how to do the following problem…explain the steps for me so i can seehow you got the answers.
The following event took place for Gantt Manufacturing Company during March,”
Before considering a net operating loss carryforward of $80 million, Fama Corporation reported $200 million of pretax accounting and taxable income in the current year. The income tax rate for all pre
I saw that this question had already been answered on this site, so I assumed you would refer to that. It is Case 5 – Auburn Circular Club Pro Rodeo Roundup from manegerial Accounting: Fourth A
“1. Bilton Company reported net income of $30,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was re
How do we prepare going forward, when we have a downturn? If we cut back to reduce costs, do we then gear up again when we see demand growing?
“15. Zachary purchased a new car on August 1, 2011 for $14,500. His records indicate that he uses
the car 45 percent for business and 55 percent for personal use. What are his cost recovery
deduction”
Financial Statement Analysis Project — A Comparative Analysis of The Hershey Company & Tootsie Roll Industries
Granite Enterprises acquired a patent from Southern Research Corporation on 1/1/09 for $4 million. The patent will be used for five years, even though its legal life is 20 years. Rocky Corporation has
“Lynn purchases a house for 52000 she converts the property to rental property when the fair market value is 115000 after deducting depreciation cost recovery expense of 1130 she sells the house for 1…
“Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions.
February 17 Purchased $100,000 of U. S. Treasury 6% bonds, paying 102 plus accrue”
“Multiple Choice Questions Select the ONE, BEST Answer
Equivalent units of production are equal to:
The number of units that could have been completed if all effort had been applied to un”
Euromarket investment and fund raising A U.S.-based multinational company has two subsidiaries, one in Mexico (local currency, Mexican peso, MP) and one in Japan (local currency, yen, ¥). Forecasts o…
“1. On March 15, 20X9, Troy, Peter, and Sarah formed Picture Perfect general partnership. This partnership was created to sell a variety of cameras, picture frames, and other photography accessories. W”
“Are any of the following losses deductible on an individual’s income tax return? If so, is the loss deductible “”for”” or “”from”” AGI? Explain each loss.
Loss
Loss on sale of stock by individual’s busi”
“o Explain the components of cost-volume-profit analysis.
What does each of the components mean?
Based on the formulas you have reviewed, what happens to contribution margin per unit when u”
“1. Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic U”
“A shareholder receives a tax-free preferred stock dividend on her common stock. Subsequently, she sells both her common and preferred stock to her aunt. She will not have any dividend income.
True/”
Good earth Products produces orange juice and candied orange peels. A 1,000 pound batch of oranges costing $400, is transformed using labor of $40 into 100 pounds of orange peels and 300 pints of juic
When the market rate of interest was 11%, Munson Corporation issued $1,000,000, 12%, 8-year bonds that pay interest semiannually. The selling price of this bond issue was
What basic questions must be answered before the amount of the depreciation charge can be computed?
LoBianco Company’s record of transactions for the month of April was as follows. Purchases Sales April 1 (Balance on hand) 600 @ $6.00 April 3 500 @ $10.00 4 1,500 @ $6.08 9 1,300 @ $10.00 8 800 @ $6….
“Individuals that believe they relied on misstated financial statements to make a decision and have suffered losses as a result will issue an action know as
breach of contract
tort
securiti”
Sucher Company uses a standard cost system in which manufacturing overhead costs are applied to units of product on the basis of standard machine-hours. The company’s standards are based on variable m
One Department in a company had a contribution margin of $15,000 and a net loss from operations of $2,000. The indirect expenses allocated to this department would have been incurred whether or not t
“2. Which one of the following is a characteristic of a business combination that should be accounted for as an acquisition?
The combination must involve the exchange of equity securities only.
“
USCo, a domestic corporation, earns $50 million of taxable income from U.S. sources and $10 million of taxable income from foreign sources. What amount of taxable income does USCo report on its U.S. t
Equipment costing $10,000 with accumulated depreciation of $7,500 is traded for equipment priced at $17,000, minus a trade-in allowance of $2,000. Under the income tax method of recording no gain or l
Bilton Company reported net income of $30,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was record
“Veronica Company allocates overhead costs to jobs on the basis of directo labor-hours. Its estimated average monthly factory ocosts for 2005 were as follows:
Direct material cost = $60,000
Direct”
“What is general journal entry for a public university for the following:
Fees assessed to students for the fall and spring semesters for fiscal 2010-2011 totaled $1,000,000. In addition, the allowanc”
“3.Espinola Corporation’s most recent balance sheet and income statement appear below:
BALANCE SHEETS
2006 2005
ASSETS
Cash & equivalents $320,000 $180,000
Accounta receivable ..”
“””You are trying to determine which of two companies is the most profitable. Which of the following would be the best indicator of relative profitability?
highest net income
highest retained”
Please see attached 1 Which of the following would be most likely to lead to higher interest rates on all debt securities in the economy? Answer Households start saving a larger percentage of their in…
“Problem 8-66
Profit-sharing plan at oechst Celanese
Hoechst Celenase, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to mot”
“The following relate to Data Original in 2008. What is the ending inventory?
Purchases $540,000
Beginning Inventory 80,000
Purchase Returns 10,000
Sales 800,000
Cost of Goods Sold 490,000″
“1. (TCO 1) Which financial statement is prepared first? (Points : 4)
Balance sheet
Income statement
Retained earnings statement
Statement of cash flows”
Natalie is busy establishing both divisions of her business (cookie classes and mixer sales) and completing her business degree. Her goals for the next 11 months are to sell one mixer per month and to…
“The total of the individual customer account balances should equal the balance in accounts receivable, which is the
control account
master account
nominal account”
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a 700-1050-word letter that explains how you plan to begin the
What kinds of problems might result if a financial report is not reliable, relevant, consistent, or comparable?
Identify an organisational crisis (e.g., an accident, a product safety/health hazard, or a scandal) and investigate how the organisation reacted to by means of information releases (e.g., press releas
“Internal controls procedures are required to safeguard the company assets and to ensure ethical operations of the business.
Explain how smart hiring practices can satisfy the purpose of internal c”
“1. Which of the following was one of the characteristics of Stephen Jobs’ managerial style during his second time with Apple?
championing of the Lisa project
abrasiveness
“”stretch?…”
The Sadie School District is considering six different options for purchasing new computer equipment. REQUIRED: Show the journal entries that would be required in the District’s General Fund to bo…
P2-2 (Transaction Analysis) a. Analyze the effects of the following transactions on the accounting equations of the various funds and nonfund accounts of a state or local government. (For any borrowin…
“CVP and Financial Statements for a Mega-Brand Company Procter & Gamble Company is a Cincinnati-based company that produces household products under
brand names such as Gillette, Bounty, Crest, Folger”
“Background
The California Cooking Oil Company (CCO) has been using machine-hours as the basis to determine overhead costs for all products. An ABC project team points out that the firm manufac”
Assume your goal in life is to retire with 1 million dollars. How much would you need to save at the end of each year if investment rates average 9% and you have a 15-year work life?
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On December 31, 2003, Sloan Corporation issued $ 1,000,000, 10%, 5-year bonds for $ 1,250,000. The par value of each bond is $ 1,000. The stated interest rate on the bond is 10% payable annually on De…
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“”I am going to work for a hospital, which is a not-for-profit organization. Because there are no profits, I will not be able to apply any CVP analysis in my work.”” Do you agree with this st…”
