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December 19, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting
#15 Supplies: Original Purchase and Adjusting Entry On January 1, the company had office supplies costing $4,600. On March 23, the company bought additional office supplies costing $8,200; the company paid cash. On December 31, a physical count of office supplies revealed ...
Monday, April 25, 2011 at 10:10pm

Accounting
#9 Unrecorded Liability: Adjusting Entry Refer to PE 4-8. (1) Make the adjusting entry necessary on the company’s books with respect to this loan on December 31. (2) Make the journal entry necessary on the company’s books on the following April 30 to record payment ...
Monday, April 25, 2011 at 10:08pm

Accounting
Compute the price of $7,936,343 received for the bonds by using the tables of present value in Appendix A. (Round to the nearest dollar.) Your total may vary slightly from the price given due to rounding differences. Present value of the face amount $ Present value of the ...
Monday, April 25, 2011 at 8:40pm

accounting
On July 1, 2010, Brower Industries Inc. issued $8,900,000 of 9-year, 10% bonds at an effective interest rate of 12%, receiving cash of $7,936,343. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. ...
Monday, April 25, 2011 at 8:25pm

Accounting
What is the equation for a simple interest rate of 47,000 note at 12 percent in 3 years? Please help resolve.
Monday, April 25, 2011 at 11:50am

Accounting
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:
Saturday, April 23, 2011 at 4:20pm

Principles of Accounting
Hot Dawgs! Inc. has 3 managers that work in shifts throughout the day and night. The company also employs 4 cooks and 2 waitresses per shift. There are 3 shifts: morning, afternoon, and evening. The managers are paid an annual salary with a 2% bonus every December. The ...
Saturday, April 23, 2011 at 2:17pm

accounting
: Are there any differences between the organizations that adopt a particular accounting method? Please explain your answer.
Thursday, April 21, 2011 at 11:06pm

HEALTH CARE FINANCIAL ACCOUNTING
The local school district has asked your clinic to submit a proposal to do pre-employment physicals for 60 bus drivers. What financial or accounting information do you need to submit the proposal? What will you charge the school district?
Thursday, April 21, 2011 at 9:59pm

accounting
Partial balance sheets for ABC Company and additional information are provided below. ABC Company, Partial Balance Sheets, As of December 31 2009 2008 Equipment $100,000 $75,000 Accumulated depreciation (25,000) (20,000) Common stock, $5 par 180,000 100,000 Paid in capital 20,...
Thursday, April 21, 2011 at 8:37pm

accounting
Would like to start a college fund. It was estimated that the cost for college to be 60,000 per year. How much should be deposit into the account each month for 18 years to accumulate a total of 240,000 @ 12% interest earned.
Thursday, April 21, 2011 at 9:30am

accounting
Carlton company had assetsof $280,000 & liabilities of $120,000 at the beginning of the year and assets of $400,000 & liabilities of $140,000 at the end of the year. During the year, the owner invested an additional $40,000 in the business, and the company made withdrawals of...
Wednesday, April 20, 2011 at 3:15pm

accounting
explain the nature of minority interest and its proper presentation on a consolidated balance sheet
Wednesday, April 20, 2011 at 1:53pm

accounting
jones company acvquired and 80% interest in the smith company ant the beginning
Wednesday, April 20, 2011 at 1:39pm

accounting
Shott Farm Supplies Corporation purchased 800 shares of General Motors stock at $50 per share and paid a brokerage fee of $1,200. Two months later, the shares were sold for $53 per share. The brokerage fee on the sale was $1,300. perpare entries for the purchase and the sale.
Wednesday, April 20, 2011 at 1:17pm

statistics
a study by Hewitt Associates showed that 79% of companies offer employees flexible scheduling. suppose a researcher believes that in accounting firms this figure is lower. The researcher randomly selected 415 accounting firms and through interviews determines that 303 of these...
Tuesday, April 19, 2011 at 11:54pm

accounting
MKTG205-1101B-07 Principles of Marketing Assignment Name: Unit 5 Individual Project Deliverable Length: 2-3 pages Details: Select a global company of your choice in the service industry. Using your selected global company as the subject matter, research the principles of ...
Tuesday, April 19, 2011 at 8:20pm

accounting
If you decide to buy a car for $17,500 and get $2,500 on a trade-in. If the bank finances the remainder at 7.8%, and you want to pay off the loan in 5 years, how much will your monthly payments be? (Assume that interest is compounded monthly.)
Tuesday, April 19, 2011 at 2:36pm

Accounting
If your credit card company charges you 1% per month on your balance, what effective annual rate of interest is it charging?
Tuesday, April 19, 2011 at 9:44am

Accounting
(Present Value) What is the present value of an annuity that pays $250,000 in 30 years if interest accumulates at a rate of 7.5% compounded semiannually? (i.e. How do you have to pay NOW for the policy? You make no payments other than your lump sum payment.)
Tuesday, April 19, 2011 at 9:42am

accounting
accounting and Organizational Cultures: A Field Study of the Emergence of a New Organizational Reality"
Tuesday, April 19, 2011 at 5:18am

Accounting
a. IPC purchases real estate in prime locations where an existing theatre chain does not adequately serve the market. After purchasing the real estate, IPC engages a contractor to build a theatre complex. During fiscal 2009, IPC received a $2,000,000 payment from a contractor ...
Monday, April 18, 2011 at 7:10pm

Accounting
How is a contract penalty recorded for the company that hires a contractor?
Monday, April 18, 2011 at 6:51pm

Accounting
How does an inventory write-off effect the cash flow statement?
Monday, April 18, 2011 at 5:56pm

accounting
(TCO 8) Partial balance sheets for ABC Company and additional information are provided below. ABC Company, Partial Balance Sheets, As of December 31 2009 2008 Equipment $100,000 $75,000 Accumulated depreciation (25,000) (20,000) Common stock, $5 par 180,000 100,000 Paid in ...
Monday, April 18, 2011 at 12:39am

accounting
Accountants follow ethical guidelines in the conduct of their work. What are these guidelines made for? Why are ethical principles considered important? In the event the accountants do not follow the ethical principles what do you think the effect would be?
Sunday, April 17, 2011 at 6:51am

accounting
The local school system asks you to submit a proposal to do preemployment physicals for 60 bus drivers. What financial or accounting information do you need to submit the proposal?
Wednesday, April 13, 2011 at 5:23pm

economical management sciences/accounting
please help! Why are some goods zero-rated?
Wednesday, April 13, 2011 at 12:15pm

accounting
Compute inventory turnover for 2005 and 2004. The inventory balance at December 31, 2003, was $294 million. Do the trend of net income from 2004 to 2005 and the change in the rate of inventory turnover tell the same story or a different story? Explain your answer.
Tuesday, April 12, 2011 at 9:54pm

accounting
Cost-Volume-profit (CVP) analysis is based entirely on unit costs. Do you aree? Explain
Tuesday, April 12, 2011 at 9:24pm

accounting
I attend penn foster i an working on chapter 1 example number 06168900 and want to know how do i began to do a 3 month accounting period using a fiscal year calendar?
Tuesday, April 12, 2011 at 9:01pm

accounting
A merchandising company wants to include the cost of operating its warehouse in the cost of inventory. The company’s controller argues that the cost of the warehouse is a reasonable and necessary cost of getting the inventory ready for sale and, therefore, should be ...
Tuesday, April 12, 2011 at 7:18am

accounting
a merchandising company wants to include the cost of operating its warehouse in the cost of inventory. The company’s controller argues that the cost of the warehouse is a reasonable and necessary cost of getting the inventory ready for sale and, therefore, should be ...
Tuesday, April 12, 2011 at 6:59am

Accounting
Cost-Volume-Profit Analysis and Decision-Making In order to recover from the recent operating losses that the Biggie Widget Company has experienced, management has made some tentative new decisions and believes that the use of CVP analysis will be useful when evaluating these ...
Monday, April 11, 2011 at 11:41pm

Accounting
A company just starting a business made the following four inventory purchases in June: June 1 150 units $390 June 10 200 units 585 June 15 200 units 630 June 28 150 units__ ____
Monday, April 11, 2011 at 11:17am

accounting
A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later returned $250 worth of merchandise and paid the invoice within the 2% cash discount period. What is the total amount paid for this merchandise is?
Sunday, April 10, 2011 at 10:00pm

accounting
a merchandising company wants to include the cost of operating its warehouse in the cost of inventory. The company’s controller argues that the cost of the warehouse is a reasonable and necessary cost of getting the inventory ready for sale and, therefore, should be ...
Sunday, April 10, 2011 at 3:58pm

accounting
identify whether each descripition best applies to a periodic or a perpetual inventory system
Friday, April 8, 2011 at 6:52pm

English
Urgent! Can someone please look these over? The sentences are very vague (welcome to online schooling, I guess). Some of them are questionable. Please help! Need to write whether the sentence is a "POINT" or "TOPIC" sentence. Point Sentence-Announces the ...
Thursday, April 7, 2011 at 8:48pm

Advanced accounting
Up owns 80% of Down. During 2009 Down began selling merchandise to Up at gross profit margin of 20%. Sales by Down to Up for the year totaled $80,000, of which $10,000 remain unsold. In 2010 Down sold $100,000 merchandise to Up at gross margin of 40%. Up’s Ending ...
Thursday, April 7, 2011 at 11:12am

introduction to accounting
a merchandising company wants to include the cost of operating its warehouse in the cost of inventory. The company’s controller argues that the cost of the warehouse is a reasonable and necessary cost of getting the inventory ready for sale and, therefore, should be ...
Thursday, April 7, 2011 at 9:15am

accounting
Dsoft manufactures PC’s. The company’s Notebook Division reports the following results for the current year: Sales Revenue $2,000,000 Operating Income $500,000 Average Operating Assets $5,000,000 Dsoft’s management’s required rate of return on invested ...
Thursday, April 7, 2011 at 12:43am

accounting
a merchandising company wants to include the cost of operating its warehouse in the cost of inventory. The company’s controller argues that the cost of the warehouse is a reasonable and necessary cost of getting the inventory ready for sale and, therefore, should be ...
Wednesday, April 6, 2011 at 9:58pm

Accounting
Janes Company provided the following information on intangible assets: a. A patent was purchased from the lou Company for $700,000 on January 1, 2007. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou's accounting records...
Wednesday, April 6, 2011 at 8:34pm

Accounting
Alteran Corporation purchased a machine for 1.5 million in 2006. The machine is being depreciated over a 10-year life using the sum-of-the-years'-digits method. The residual value is expected to be $300,000. At the beginning of 2009, Alteran decided to change to the ...
Wednesday, April 6, 2011 at 8:22pm

accounting
your firm, which is on accrual basis has a 100,000 mon-fri weekly payroll, and friday is payday. if the year ends on a Tuesday, what adjusting journal entry will you record??
Tuesday, April 5, 2011 at 9:09pm

Accounting III
What arguments can be advanced in favor of treating fixed manufacturing overhead costs as product costs? What arguments can be advanced in favor of treating fixed manufacturing overhead costs as period costs? Which arguments do you find to be the most valid? Explain.
Tuesday, April 5, 2011 at 11:03am

Managerial Accounting
what management position is responsible for each variance: Sales Materials Labor Overhead General, Selling & Administrative What causes these variances?
Tuesday, April 5, 2011 at 1:33am

Managerial Accounting
Determining and interpreting flexible budget variances Use the standard price and cost data supplied in problem 15-18. Assume that Holligan actually produced and sold 31,000 books. The actual sales price and costs incurred follow. Actual price and variable costs: Sales price $...
Tuesday, April 5, 2011 at 12:05am

Managerial Accounting
Flexible budget planning Sam Yu, the president of Centech Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertains to fiscal ...
Tuesday, April 5, 2011 at 12:02am

accounting
Santa Fe Company purchased merchandise for resale from Mesa COmpany with an invoice price of $24,000 and credit terms of 3/10,n/60. The merchandise had cost Mesa $16,000. Santa Fe paid within the discount period. Prepare entries that Santa Fe Company should record for the ...
Monday, April 4, 2011 at 8:00pm

ACCOUNTING
In its financial statements, Trio uses straight-line depreciation with the half-year convention. The book value of the equipment at December 31, 2006, will be: a $29,000. b $35,000. c $31,000. d Some other amount.
Monday, April 4, 2011 at 2:55pm

Accounting
This spreadsheet assignment will require you to use multiple approaches to estimating manufacturing overhead costs for a fictitious company, including the high-low method and regression analysis This exercise will require you to perform regression analysis to determine the ...
Saturday, April 2, 2011 at 2:47am

accounting
prepare entries to record the following summarized operations related to production for a company using a job order cost system: a. materials purchased on account-$167000 b. prepaid expenses incurred on account-$12200 c. materials pequisitioned: for production orders-$153700 ...
Friday, April 1, 2011 at 7:34pm

Finance/Cost accounting
The XYZ Corporation is contemplating the introduction of a new machine tool which will be used solely in the manufacture of a rotor shaft. 50,000 units per year are expected to be manufactured, and the time study group anticpates a standard of 2.5 hours per piece. The labor ...
Friday, April 1, 2011 at 7:16am

Finance/Cost Accounting
You are given the following data: Annual demand is 1600 pieces Cost per piece is $50 Cost of money factor is 30 percent What is the EOQ point?
Friday, April 1, 2011 at 7:03am

accounting.plz urgent
If an item is purchased with terms of 2/EOM, n/60, there is a discount for paying within 60 days
Wednesday, March 30, 2011 at 4:10pm

Accounting
A company has two major businesses that it operates. One business manufactures and sells unicycles for commercial use in circuses and so forth (total sales of $150M), and the other sells bicycles to the public (total sales of $20M). The unicycle business occupies 75,000 square...
Tuesday, March 29, 2011 at 9:46pm

accounting
what is the total liabilites and the owners equity in the balance sheet you prepared in exam figure 4? a. $,5,906.54?
Tuesday, March 29, 2011 at 3:02pm

Accounting
If Grant House Furnishing accepted a ten month 8% interest rate, $3000 note from one of its customers on april 1, 2008. How much interest will Grant House Furnishing accrue for the month of April?
Tuesday, March 29, 2011 at 9:53am

accounting
Neer Department Store uses the retail inventory method to estimate its monthly ending inventories. The following information is available for two of its departments at August 31, 2011. Sporting Goods Jewelry and Cosmetics Cost Retail Cost Retail Net sales $1,000,000 $1,160,000...
Tuesday, March 29, 2011 at 8:39am

accounting
Assume that the following transactions affected owners' equity for De Soto Inc. during 2011. Feb. 1- Sold 40,000 shares of common stock in the market. Apr. 1- Purchased 3,000 shares of common stock to be held as treasury stock. Paid cash dividends of $0.50 per share. May 1...
Monday, March 28, 2011 at 2:27pm

Managerial Accounting
The questions in this exercise are based on JetBlue Airways Corporation. To answer the questions, you will need to download JetBlue’s 10-K/A for the year ended December 31, 2004 (10K/A with a filing date of March 8, 2005). You do not need to print the 10-K/A to answer the...
Monday, March 28, 2011 at 11:23am

business
The conceptual framework developed by the Financial Accounting Standards Board
Sunday, March 27, 2011 at 11:53pm

accounting
P20-2A For the year ended December 31, 2010, the job cost sheets of DeVoe Company contained the following data. Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $25,000 $24,000 $28,800 $77,800 Current year's costs 30...
Sunday, March 27, 2011 at 7:14pm

linguistics please!!!
1. (a) Mary murdered the platypus (b) Mary killed something Select a maxim that is being flouted in this conversation. A.Quantity B. Manner C. Quality D. Relevance 2. Bob: Do you want to grab a cup of coffee sometime? Sally: Sure! I absolutely love spending time with people ...
Sunday, March 27, 2011 at 3:18pm

accounting
sa traders who use the perpetual inventory system, purchased merchandise on the 1 feb 2011 form africa limited for 500. the purchase was subject to a cash discount of 5% if settled within 20 days and a trade discount of 25%
Saturday, March 26, 2011 at 11:14am

Economics
U.S. Pharmaceutical of Korea* U.S. Pharmaceutical of Korea (USPK) was formed in 1969. Its one manufacturing plant is located just outside Seoul, the capital. Although the company distributes its products throughout South Korea, 40 percent of its total sales of $5 million were...
Friday, March 25, 2011 at 1:09pm

accounting
$36,000 PAYABLE AT THE END OF THE SEVENTH, EIGHT, NINTH, AND TENTH PERIODS AT 12%
Monday, March 21, 2011 at 4:34pm

Accounting
E3-5 Drew Carey Company has the following balances in selected accounts on December 31,2008. Accounts Receivable $ -0- Accumulated Depreciation—Equipment -0- Equipment 7,000 Interest Payable -0- Notes Payable 10,000 Prepaid Insurance 2,100 Salaries Payable -0- Supplies 2,...
Monday, March 21, 2011 at 2:33pm

Math
Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 26. The units have a list price of $500 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a periodic inventory system. 1. prepare ...
Sunday, March 20, 2011 at 2:07pm

Math
On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts. 1. prepare the journal entries to record ...
Sunday, March 20, 2011 at 1:56pm

Accounting writen report
Why is it important for a business to prepare a monthly bank reconillation statement? state two points (b)what should the internal auditor do about this? Name two points
Sunday, March 20, 2011 at 1:01pm

Accounting
What should the internal auditor do this? Name two point
Sunday, March 20, 2011 at 2:58am

accounting
True or false ? The columns of the employee earnings record consist of the amount columns in a payroll register and accumulated earnings column? Can you help me answer this question ? thank you.
Tuesday, March 15, 2011 at 10:42pm

accounting
When Collum Corporation was organized in January 2011, it immediately issued 10,000 shares of $60 par, 5 percent, cumulative preferred stock and 20,000 shares of $10 par common stock. The company's earnings history is as follows: 2011, net loss of $15,000; 2012, net income...
Sunday, March 13, 2011 at 5:19pm

accounting
Jackson Company invests in a new piece of equipment costing $40,000. The equipment is expected to yield the following amounts per year for the equipment's four-year useful life: Cash revenues $ 60,000 Cash expenses (32,000) Depreciation expenses (straight-line) (10,000) ...
Friday, March 11, 2011 at 11:54pm

accounting
Van Meter Company is considering the purchase of the following computer equipment, which is considered 5-year property for tax purposes: Acquisition cost $500,000 Annual cash flow $180,000 Annual operating costs $30,000 Expected salvage value $-0- Cost of capital 12% Tax rate ...
Friday, March 11, 2011 at 11:53pm

accounting
Information about a project Darcy Company is considering is as follows: Investment $1,000,000 Revenues $700,000 Variable costs $140,000 Fixed out-of-pocket costs $80,000 Cost of capital 12% Tax rate 40% The property is considered 5-year property for tax purposes. The company ...
Friday, March 11, 2011 at 11:42pm

Accounting
American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2011. The lease agreement for the $4 million (fair value and present value of the lease payments) machine ...
Thursday, March 10, 2011 at 9:36am

Accounting
On June 30, 2011, Georgia-Atlantic, Inc., leased a warehouse facility from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $585,423 over a three-year lease term, payable each June 30 and December 31, with the first ...
Thursday, March 10, 2011 at 9:35am

accounting
Lone Star Theatre Inc. owns and operates movie theaters throughout Arizona and Texas. Lone Star Theatre has declared the following annual dividends over a six-year period: 2005, $7,500; 2006, $9,000; 2007, $30,000; 2008, $30,000; 2009, $40,000; and 2010, $48,500. During the ...
Wednesday, March 9, 2011 at 12:20pm

financial accounting
I am having trouble figuring out my accounts payable and capital. Any help on going about and solving this would be greatly appreciated. I have listed the data below... Travis Fortney, an architect, opened an office on April 1, 2010. During the month, he completed the ...
Tuesday, March 8, 2011 at 11:36am

accounting
onlinesolutionproviders Get free homework and earn as well
Monday, March 7, 2011 at 12:10pm

accounting 1
what accounting principle would changing methods every year violate?
Monday, March 7, 2011 at 10:26am

accounting
Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2011, its fiscal-year end, based on a physical count, was determined to be $326,000. Capwell's unadjusted trial balance also showed the following account balances: ...
Sunday, March 6, 2011 at 6:58pm

accounting
please help me to get the answers choices below just choice the letter provied. thanks a lot 1.Asset would be increased by : a.Debit to Prepaid Insurance b.Debit to expense c.Credit to Cash d.Debit to Notes Payable 2.Failure to record a bill from Meralco for services already ...
Sunday, March 6, 2011 at 6:52pm

accounting
please help to get the correct of questions beloww..thanks i hope you can help me thanks ang god bless you always. 1.the cost-benefit constraint 2.importance of financial accounting 3.explain nuetrality and how can you say if an accounting information is nuetral?
Sunday, March 6, 2011 at 9:43am

advanced accounting
prepare the investment-related entries on pert company's books for 2009
Saturday, March 5, 2011 at 9:01pm

cost accounting
prepare the necessary journal entry to close the overhead account if the balance is considered immaterial
Saturday, March 5, 2011 at 3:52pm

accounting management
please help me to define these words below thanks a lot differentiate Management and Financial Accounting
Saturday, March 5, 2011 at 3:00pm

management accounting
kindly please can you help me to get the correct answer for this question below thanks a lot.. differentiate Accounting from Auditing and Bookkeeping
Saturday, March 5, 2011 at 2:59pm

accounting
kindly please can you help me to get the correct answer for this question below thanks a lot.. differentiate Accounting from Auditing and Bookkeeping
Saturday, March 5, 2011 at 3:15am

accounting management
please help me to define these words below thanks a lot differentiate Management and Financial Accounting
Saturday, March 5, 2011 at 3:13am

accounting
For each of the following, indicate the accounting concept or constraint that has been violated, if any: 1) The company currently records its accounting transactions and prepares its financial reports manually. The cost of using a new computerized accounting system to do these...
Friday, March 4, 2011 at 10:22am

ACCOUNTING
Department A had 10,000 units in work in process that were 30% converted at the beginning of the period at a cost of $10,000. During the period, 15,000 units of direct materials were added at a cost of $60,000, 16,000 units were completed, and 9,000 units were 40% completed. ...
Thursday, March 3, 2011 at 8:13am

Accounting
In 2014 ABC Company reported net income of $100,000. What would be the effect on retained earnings on ABC Company's balance sheet and on its 2015 income statement if it didn't record a closing entry?
Wednesday, March 2, 2011 at 11:08pm

Accounting
What is the journal entry for the following? Stan opened a bank account in the name of SSRC and deposited $10,000 of his savings into the account.
Wednesday, March 2, 2011 at 6:37pm

Accounting
Cadzow Inc purchases all of its inventory on credit. On January 1, 2008 Cadzow had $1,750,000 of Inventory. Cost of goods Sold during 2008 was $5,650,000. The beginning and ending balances in Cadzow’s Accounts Payable account on January 1, 2008 and December 31, 2008 were...
Wednesday, March 2, 2011 at 6:18pm

accounting
Brianna Moore is an accountant for New World Pharmaceuticals. Her duties include tracking research and development spending in the new product development division. Over the course of the past six months, Brianna noticed that a great deal of funds have been spent on a ...
Wednesday, March 2, 2011 at 9:38am

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