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April 2, 2015

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

accounting,life science,history and maths literacy
What can I study after matric and what career job can I persue? Please help I'm confused
Thursday, January 22, 2015 at 11:35am

business studies n maths lit n accounting n geo
Do I need pure maths in These subjects or is maths lite fine to get me to the point of being a entreprenuer in my life
Wednesday, January 21, 2015 at 10:05am

accounting
The Bean Company makes a sale with an invoice price of $97,000 on 10/1/14. The note is due on 10/1/17. There is no interest rate stated in the note. The market rate for similar notes is 10%. Assume annual compounding of interest. Prepare the journal entries for 10/1/14, 12/31/...
Monday, January 19, 2015 at 10:26pm

accounting 1
Holden Graham started The Graham Co.,a new business that began operations on May 1. The Graham Co. completed the following transactions during its first month of operations
Thursday, January 15, 2015 at 11:22pm

accounting
All-American Sports can purchase sneakers for $450 per dozen less trade discounts of 14/12 from Ideal Shoes. Fancy Footwear is offering the same sneakers for $435 less trade discounts of 18/6. Which supplier offers a lower net price?
Tuesday, January 13, 2015 at 10:43pm

Maths literacy, accounting, economics and business studies
Are ther any possibilities of studying an Accountant career with this subjects?
Monday, January 12, 2015 at 5:26am

Accounting
Can someone please tell me how to set this up? I tried doing (45+1.50 - 47) x 150 but I don't think this is right. thank you An investor in a Corporation. On January 1, Year One, purchased 150 shares of the corporation’s capital stock at a price of $45 per share. On ...
Sunday, January 11, 2015 at 7:47pm

Accounting
On Sept. 1, 2012, Parsons Company purchased $84,000 10 year 7% government bonds at 100 plus accrued interest. The semi-annual interest payment dates are June 30 and Dec. 31. Journalize the entry to record the bond purchase.
Thursday, January 8, 2015 at 10:45am

Accounting, maths literacy, business studies, economics
am doing matric this year so I dnt knw which career I can do next year with those subjects.......plz I need help
Tuesday, January 6, 2015 at 6:29am

accounting
how to jounalize the transaction with simecolon?
Saturday, January 3, 2015 at 2:24am

math lit, accounting, business studies, cat
Can i study (b com)supply chain management in varsity. My main concern is math lit.
Friday, January 2, 2015 at 6:20am

Accounting
Explain Accounting and book-keeping and enumerate the differences (if any) between the two
Tuesday, December 16, 2014 at 10:57am

easy geometry
Can you please show you solution and final answer here. Thanks! 1.Find the altitude,perimeter and area of an isosceles trapezoid whose sides have lengths 10 cm, 20 cm, 10 cm and 30 cm. 2. The formula A=P(a+r)^2 is used to find the amount of money A in an account after P pesos ...
Sunday, December 14, 2014 at 2:02am

accounting
Amazon Appliance Company has three installers. Larry earns $355 per week, Curly earns $460 per week, and Moe earns $585 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.2% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee...
Sunday, December 7, 2014 at 9:42pm

Managerial Accounting, MBA
A company produces a single product. Variable production costs are $12 per unit and variable selling and administrative expenses are $3 per unit. Fixed manufacturing overhead totals $36,000 and fixed selling and administrative expenses total $40,000. Assuming a beginning ...
Friday, December 5, 2014 at 2:12am

accounts
Diane Gobin is the founder and manager of Gobin's World. Diane has approached the local bank for a loan to expand her business. As part of the loan application, Diane was asked to prepare Financial Statements for the business. She prepared the following balance sheet and ...
Thursday, December 4, 2014 at 7:54am

Managerial Accounting
Garcia Veterinary Clinic expects the following operating results next year: Sales (total) $600,000 Variable expenses (total) $120,000 Fixed expenses (total) $300,000 What is Garcia's break-even point next year in sales dollar?
Thursday, December 4, 2014 at 12:35am

Managerial Accounting
Garcia Veterinary Clinic expects the following operating results next year: Sales (total) $600,000 Variable expenses (total)
Thursday, December 4, 2014 at 12:34am

accounting
If preferred dividends are limited to the stated rate of dividend, the preferred stock is: A. noncumulative B. Cumulative C. participating D. Nonparticipating
Tuesday, December 2, 2014 at 12:43am

business
New Orleans’s Mt. Sinai Hospital is a large, private, 600-bed facility complete with laboratories, operating rooms, and X-ray equipment. In seeking to increase revenues, Mt.Sinai’s administration has decided to make a 90-bedadditiononaportionofadjacent land currently...
Sunday, November 30, 2014 at 8:52pm

accounting 2
if amores has the capital of 1,616,000 while andrada is to invest sufficient cash to give him a one-third interest in the partnership. how much andrada's capital?
Tuesday, November 25, 2014 at 9:40am

accounting
On October 10, 2010, 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 wait until January 10, 2011, to make the purchase. The cost of the equipment...
Monday, November 24, 2014 at 11:28am

American Government
I need some help with some Government questions: 1. All of the following are ways that formulating our budget has changed EXCEPT: A. Budget and Accounting Act of 1921 B. transfer of Office of Management and Budget to the Executive Office of the President C. Congressional ...
Sunday, November 23, 2014 at 9:10pm

accounting
which is an operating expense a salaries expense b payroll expense
Saturday, November 22, 2014 at 1:39pm

Government
I need some help with some Government questions: 1. All of the following are ways that formulating our budget has changed EXCEPT: A. Budget and Accounting Act of 1921 B. transfer of Office of Management and Budget to the Executive Office of the President C. Congressional ...
Thursday, November 20, 2014 at 5:49pm

accounting
Starbucks-. Locate the company’s annual report as outlined previously. Find the company’s segment information; it should be in the “Notes to Consolidated Financial Statements” or other similarly named section. Look for the word “Segment” in a ...
Thursday, November 20, 2014 at 5:22pm

accounting 1
how much is total liabilities? accounts recievable 20,000 accounts payable 30,000 taxes and licenses 40,000 uncollectible account 10,000 rent payable 8,000 utilities payable 5,000
Wednesday, November 19, 2014 at 10:35pm

Accounting
The Fairport Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Cost of Electricity (Y) $13,000 $15,000 $17,000 $14,500 Direct Labor-Hours (X) 1,500 1,700 2,000 1,600 What would be the best equation using ...
Wednesday, November 19, 2014 at 11:05am

Accounting
computer equipment beginning balance is 20,000 working on the adjusted general journal and the scenario is the computer has a 4 year life with no salvage value not sure how to log this
Saturday, November 15, 2014 at 3:55pm

accounting
a 10 year coupon bond that yield 5% is issued with a 1000 par value. what is the issuance price of the bond
Thursday, November 13, 2014 at 10:04am

Accounting
On Jan.1, Pedigo Corporation purchased a small company and recorded goodwill of $150,000. its useful life is indefinite. may 1- purchased for 475,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.Prepare adjusting entries at December 31 to ...
Saturday, November 8, 2014 at 12:16pm

corporate accounting
meaning of reserve capital
Friday, November 7, 2014 at 8:53am

Intro to Accounting
Jimenez Enterprises issued 8%, 9-year, $2,486,400 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2014, and are issued on that date. The discount rate of interest for such bonds on April 1, 2014, is 8%. What cash proceeds ...
Wednesday, November 5, 2014 at 8:33pm

accounting
How to make a journal entry
Monday, November 3, 2014 at 6:03pm

Accounting
Hanover Corp. obtained the following information from its absorption costing accounting records: Operating Income = $24,000 Total Product Costs Incurred During The Period = $16,000 Value of Beginning Work-In-Process and Finished Goods Inventories = $0 Value of Ending Work-In-...
Monday, November 3, 2014 at 10:28am

STAT
1. In a study of the income of U.S. factory workers, a random sample of 100 workers shows a sample mean of $35,000. Assume that the population standard deviation is $4,500, and that the population is normally distributed. A) Compute the 90%, 95% and 99% confidence intervals ...
Sunday, November 2, 2014 at 7:34pm

Accounting
A company uses activity-based costing. The company produces two products, 001 and 002. Information relating to 001 is as follows: Units produced: 38,000 Machine-hours: 15,000 Direct labor hours: 16,000 Materials handling (number of moves): 8,000 Setups: 10,000 Information for ...
Sunday, November 2, 2014 at 5:28pm

accounting
8 cost categories that variable and which are fixed
Sunday, November 2, 2014 at 4:17pm

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