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October 23, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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accounting
Assume Venture Healthcare sold bonds that have a ten-year maturity, a 12 percent coupon rate with annual payments, and a $1,000 par value. a. Suppose that two years after the bonds were issued, the required interest rate fell to 7 percent. What would be the bond's value? b...
Monday, October 11, 2010 at 7:57pm

accounting
“One company’s account receiveable is another company’s account payable”?
Sunday, October 10, 2010 at 10:06pm

accounting
The City of Shiloh sold a used police car. The police car had a historical cost of $17,000, a fair value of $12,000, and was sold for $5,000. Assuming that the City maintains its books and records in a manner to facilitate the preparation of the fund financial statements, what...
Sunday, October 10, 2010 at 9:44pm

Medical
if john date is responsible for accounting services for weston hospital, he's the hospital's chief what?
Tuesday, October 5, 2010 at 12:16pm

accounting
i am trying to understand porter's fiveforces, can anyone help me?
Monday, October 4, 2010 at 5:11pm

accounting
The two cases described below are independent of each other. Each case provides the information necessary to prepare the stockholders' equity section of a corporate balance sheet. a. Early in 2007, Wesson Corporation was formed with the issuance of 50,000 shares of ...
Sunday, October 3, 2010 at 9:57pm

Business Accounting
Who can be harmed when a company changes its accounting method to often? why?
Saturday, October 2, 2010 at 10:45pm

accounting
The following costs were incurred by Shumway Company in purchasing land: cash price, $84,000; removal of old building, $5,200; legal fees, $3,000; clearing and grading, $3,500; installation of fence, $3,400. (a) What is the cost of the land? (b) What is the cost of the land ...
Saturday, October 2, 2010 at 5:44pm

accounting 2
allen company sells flags with team logos. Allen has fixed costs of $588,000 per year plus variable costs of $ 5.50 per flag. Each flag sells for $ 12.50.
Saturday, October 2, 2010 at 2:04pm

accounting
What are the different methods used to calculated depreciation? How does a company decide which method they should utilize? How does their choice affect the financial statements?
Friday, October 1, 2010 at 6:16pm

Income Tax - Accounting. Help Me Please.
Tax Rates, latesha, a single taxpayer, had the following income and deductions for the year 2009. INCOME Salary $60,000 Business Income $25,000 Intrest income(bonds)$10,000 Tax-exempt bond interes $ 5,000 ________ TOTAL INCOME $100,000 DEDUCTIONS: Business Expenses $ 9,500 ...
Friday, October 1, 2010 at 1:56pm

Income tax / Accounting
Computation of taxable income: The following information for 2009 relates to Tom, a single taxpayer, age 18. Salary $1,800 Intrest income $1,600 Itemized deductions $ 600 A. Compute Tom's taxable income assuming he is self-supporting B. Compute Toms's taxable income ...
Friday, October 1, 2010 at 1:53pm

managerial Accounting
Theater owners have to make competitive bids for the right to show a movie. They must sent the film distributor a proposal with 1. The length of run they provide. 2. The percentage of box office revenues that the theater will pay the distributor per week. This usually on a ...
Thursday, September 30, 2010 at 6:49pm

managerial Accounting
Smith Co uses a standard cost system for its single product in which variable manufacturing overhead is applied on the basis of direct labor hours. The following information is given: 4 Standard costs per unit: Raw materials (1.5 grams at $16) $24.00 Direct labor (0.75 hour at...
Thursday, September 30, 2010 at 6:48pm

Accounting
What would you pay for a $50,000 debenture bond that matures in 15 years and pays $5,000 a year in interest if you wanted to earn a yield of: (Round computations to 2 decimal places and use the rounded amounts to calculate the final answer. Round the final answer to 2 decimal ...
Wednesday, September 29, 2010 at 9:12pm

college-accounting
Choose two competitor companies that are U.S. GAAP publicly traded companies.
Tuesday, September 28, 2010 at 9:44pm

accounting
during the period 1 oct to 10 october2008 the stock figure was $38 900 sales were $7800,the company makes a gross profit of30% on cost (ii)purchases were$4000 (iii)returns in wards were$1950 (iv)one stock sheet had been overadded by$800while the other had been under-added by $...
Tuesday, September 28, 2010 at 6:33pm

college- accounting
We just starting the chapters in accounting in school. We have about 10 problems to do. I will post one problem here and i need someone to show me how exactly they got it, so i understand and it could help me work on the other 9. here it is- The comparative Balance Sheets of ...
Tuesday, September 28, 2010 at 6:32pm

Accounting
What is the relationship between the amounts on the adjusted trial balance for an account and its ledger? Why is it necessary to prepare the formal financial statements if all the data are on the adjusted trial balance? I am having problems finding the answer to thsee two ...
Tuesday, September 28, 2010 at 10:32am

accounting
Which of the following is accounted for as a change in accounting principle?
Monday, September 27, 2010 at 11:13am

accounting
Assignment Please prepare the homework problems in the form of a Word and/or Excel file. Try to use one file to submit your answers if possible and include the questions with your answers. You must show your calculations. A dermatology clinic expects to contract with an HMO ...
Sunday, September 26, 2010 at 8:24pm

accounting
I have answer a hypothetical situation question as to what advice I would give to a business owner whose business in growing on how to make her accounting work more efficient. She manually enters in cash sales daily, makes purchase orders over the phone, but is now getting ...
Sunday, September 26, 2010 at 5:12pm

accounting
state 5 assumptions underlying cost- volume profit(break-even )analysis
Sunday, September 26, 2010 at 2:25pm

Accounting
The partners in New Yorker Company decide to liquidate the firm when the balance sheet shows the following.
Sunday, September 26, 2010 at 9:20am

accounting
general ledger entry: sold $700 of merchandise (that had cost $220) on credit to Sam's Company.
Sunday, September 26, 2010 at 8:33am

Accounting help
I'm trying to make an income statement...for sales revenue out of this information what do I add up? Sales Revenue Forecast: June (actual) 24,000 July (actual) 20,000 August 28,000 September 52,000 October 44,000 November 76,000 December 96,000 January 22,000 February 32,...
Saturday, September 25, 2010 at 9:09pm

college
It is stand accounting procedures, or GAAP, to make an adjusting entry to remove the current year’s principle from the long-term liabilities. This entry reduces the long-term liabilities and increases the current liabilities. You are the bookkeeper for Biker’s ...
Saturday, September 25, 2010 at 1:08pm

accounting
Target Corporation is currently seeking additional capital to expand its operations. Two companies have shown interest in providing additional capital. •Company #1 is interested in investing in the organization and, therefore, would like to have part ownership through the...
Thursday, September 23, 2010 at 7:22pm

accounting
What is the adjusting entry to this problem on Dec 31st? On October 15, the school agreed to teach a four-month class (beginning immediately) for an individual for $3,100 tuition per month payable at the end of the class. The services are being provided as agreed, and no ...
Thursday, September 23, 2010 at 6:18pm

Accounting
What is the journal entry when a company issues debt to purchase all outstanding shares of another company?
Thursday, September 23, 2010 at 7:03am

accounting
Jones Company is authorized to issue 20,000 shares of no-par, $5 stated-value common stock and 5,000 shares of 9%, 100 par preferred stock. It enters into the following transaction: 1. Accepts a subscription contract to 7,000 shares of common stock at $42 per share and ...
Wednesday, September 22, 2010 at 9:06pm

Accounting
Can financial statement users of not-for-profit hospitals’ financial statements expect to be fully informed regarding affiliated parties, such as the linkage between St. Jude Children’s Research Hospital, ALSAC, and the foundation cited?
Tuesday, September 21, 2010 at 7:59pm

Principles of Accounting I
It is standard procedures, or GAAP, to make an adjusting entry to remove the current year's principle from the long-term liabilities. You are the bookkeeper for biker's business. Biker's business has a bank loan that requires a current ratio of 1.5 times. The owner...
Tuesday, September 21, 2010 at 12:39pm

Management Accounting
Monash Company is currently manufacturing part Z911, producing 40,000 units annually. The part is used in the production of several products made by Monash. The cost per unit for Z911 is as follows: Direct Materials $9.00 Direct Labour 3.00 Variable Overhead 2.50 Fixed ...
Tuesday, September 21, 2010 at 7:26am

accounting
what kind of source documents do we collect for accounting information systems?
Tuesday, September 21, 2010 at 6:39am

Accounting
1. Assume that Sprinturf uses a job order costing system. For the three basic cost categories of direct materials, direct labor, and overhead, identify at least two typical costs that would fall into each category for Sprinturf. 2. Assume a local high school expresses an ...
Monday, September 20, 2010 at 9:00pm

Accounting
It is stand accounting procedures, or GAAP, to make an adjusting entry to remove the current year’s principle from the long-term liabilities. This entry reduces the long-term liabilities and increases the current liabilities. You are the bookkeeper for Biker’s ...
Monday, September 20, 2010 at 12:08pm

uop
A firm utilizing FIFO inventory accounting would, in calculating gross profits, assume that
Sunday, September 19, 2010 at 6:30pm

auditing
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
Sunday, September 19, 2010 at 4:14pm

grade 12 accounting
I posted a question a while ago, I was hoping someone would get back to it? Its not a difficult question, I'm just unsure whether to debit or credit accumulated amortization. This is for march 31 and the adjustment is 100 of amortization. What do I do?
Friday, September 17, 2010 at 11:57pm

grade 12 accounting
The account accumulated amortization - equipment is a credit account and it has 1,200 in it on the work sheet for the month ended march 31, 2003. I have to make an adjustment to it, and the adjustment is: amortization for march is 100. Do I credit or debit the 100 to the ...
Friday, September 17, 2010 at 8:39pm

Managerial Accounting
Rocky Mountain Outfitters manufactures cowboy boots. Information related to a recent production period is as follows: Estimated manufacturing overhead, 2004 $240,000 Estimated machine hours, 2004 12,000 Direct labor cost, September $ 8,000 Direct materials cost, September $5,...
Friday, September 17, 2010 at 5:11pm

Accounting
The proposed 'asset' investment for a new restaurant is $2,000,000. The restaurant is expected to generate cash inflows of $300,000 during its 'project' life of ten (10) years. The Weighted Cost of Capital is 10%. What is the Present Value of a 'cash' ...
Thursday, September 16, 2010 at 7:43pm

accounting 101
Preparing A Journal Entry. I need help telling whether it's accounts receivable, rent expense, etc. Also determining whether it's debit or credit. I understand everything else like the T-account and Trial Balance, just determining what they are is what I'm having ...
Thursday, September 16, 2010 at 12:24pm

accounting
Making a t account need to know how to enter this Recognized operating expenses for 2009 of 30,000 including 5,000 on credit and 25,000 cash
Wednesday, September 15, 2010 at 11:54pm

accounting
I need to make a t account for accounting homework. The statements are from 2009? Earned revenues for 2009 of 55,000 including 8,000 on credit and 47,000 cash. Received a 3,000 deposit from hospital to start January 5, 2010. Purchased supplies on account for future use. 7,000
Wednesday, September 15, 2010 at 10:15pm

Accounting
I am attempting to complete a budget matrix. Is a consultant listed as a functional budget item or a line-item budget? Are indirect costs listed as a functional budget item or a line-item budget? My understanding from the reading is that I have 1) Functional Budget to ...
Wednesday, September 15, 2010 at 9:02pm

accounting
E4-1 The trial balance columns of the worksheet for Briscoe Company at June 30, 2008, are as follows. BRISCOE COMPANY Worksheet For the Month Ended June 30, 2008 Trial Balance Account Titles Dr. Cr. Cash $2,320 Accounts Receivable 2,440 Supplies 1,880 Accounts Payable $1,120 ...
Monday, September 13, 2010 at 4:00pm

accounting
There is also a lot of companies that report their federal taxes using the accrual basis and their state taxes on the cash method. Why do you think a company would want to do this?
Sunday, September 12, 2010 at 9:37am

Business
Is internal control concerned only with enhancing the accuracy of accounting records? Why or why not?
Saturday, September 11, 2010 at 6:18pm

Business
can a company enter into a business transaction that affects only one side of the basic accounting equation?
Saturday, September 11, 2010 at 6:17pm

accounting
The stockholders' equity accounts of Lawrence Company have the following balances on December 31, 2010. Common stock, $10 par, 274,000 shares issued and outstanding $2,740,000 Paid-in capital in excess of par 1,200,000 Retained earnings 5,600,000 Shares of Lawrence Company...
Friday, September 10, 2010 at 8:02am

accounting
If a company purchases a 12-month insurance policy for $3600, what journal entry would be prepared to record the purchase? At 6 months? At year end?
Friday, September 10, 2010 at 1:16am

accounting
What role might an accounting professional play in ethical corporate decision making? Should an accounting professional play a role even when he or she is not the final decision maker? Explain your answer.
Thursday, September 9, 2010 at 7:21pm

accounting
What are the qualifications for the FASB board members?
Monday, September 6, 2010 at 1:26pm

accounting
How do I make general journal entries from a adjusted trial balance?
Monday, September 6, 2010 at 12:54pm

Financial Accounting
What is the importance of GAAP? I know GAAP is a collection of methods used to process, prepare, and present public accounting information.
Saturday, September 4, 2010 at 10:41pm

Financial Accounting
Where can I find several small articles on business and accounting ethics?
Friday, September 3, 2010 at 8:38pm

Accounting
A May 2002, Business Week story by Stanley Holmes and Mike France entitled “Boeing’s Secret” discusses issues surrounding the timing of the disclosure of information at the giant airplane manufacturer. To summarize, on December 11, 1996, Boeing closed a giant ...
Friday, September 3, 2010 at 7:07pm

accounting
initial investment in the company of $26,200 cash. Here are the assets and liabilities for the month of June, its first month of operation. Cash $4,600.00 Accounts receivable $4,000.00 Revenue $7,000.00 Supplies $2,400.00 Advertising expense $400.00 Equipment $29,000.00 Notes ...
Friday, September 3, 2010 at 3:14pm

accounting help please?!
Nancy Sly wishes to sell her business and receives the following three offers:? 1. $568,000 cash immediately. 2. $200,000 cash now plus an annual installment of $60,000 at the end of each year for 10 years, a total of $800,000. 3. An offer to manage the property for 10 years ...
Thursday, September 2, 2010 at 2:18pm

accounting help please?!
Nancy Sly wishes to sell her business and receives the following three offers:? 1. $568,000 cash immediately. 2. $200,000 cash now plus an annual installment of $60,000 at the end of each year for 10 years, a total of $800,000. 3. An offer to manage the property for 10 years ...
Thursday, September 2, 2010 at 12:34am

please help ASAP
How would you compare the accounting for an enterprise funds with those of a for-profit business? How would you compare the accounting for the business-type activities in an enterprise fund with accounting for those activities in a governmental fund? Summarize the reasons both...
Wednesday, September 1, 2010 at 9:59am

accounting
On January 1, 2004, $100,000,000 in 7.5%, 10-year callable bonds were issued at 96.64% to yield an effective rate of 8.0%. Callable at 103; interest paid annually on January1. If the bonds are called on April 1, 2006, what are the needed payments and entries to extinguish the ...
Tuesday, August 31, 2010 at 7:58pm

business
Choose one of the organizational departments, such as accounting, finance, HR, and so on of a business. What is the role of this department? What types of information does the department need? How does the department use that information?
Tuesday, August 31, 2010 at 5:37pm

Business accounting question
The standards and rules that are recognized as a general guide for financial reporting are called __________. A. generally accepted accounting principles B. operating guidelines C. generally accepted accounting standards D. standards of financial reporting
Monday, August 30, 2010 at 8:15pm

Accounting
HOW DO I find the net icome for this company with this information? Beginning of the year: ASSETS WERE $810,000 lIABILTES WERE:$324,000 eND OF YEAR: aSSETS WERE: $1,296,000 AND lIABILTES WERE:$540,000. cAPITAL STOCK OF $162,000 WAS ISSUSED dIVIDENDS OF $72,OOO WERE PAID
Sunday, August 29, 2010 at 11:37am

accounting
Unit 1 Individual Project Deliverable Length: 2 to 3 pages Details: 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 for the students the ...
Saturday, August 28, 2010 at 10:02pm

accounting
How can we determine if the adjusted entries are correct?
Saturday, August 28, 2010 at 6:52am

accounting
How do I find the net income for this company ,with this information? Beginning of year Total Assets were:$810,000 Total liabilites were:$324,000 End of year Total Assets were:$1,296,000 Total liabiltes were:$540,00 Capital stock of $162,000 was issued dividends of $72,000were...
Friday, August 27, 2010 at 12:32pm

adult education
Already Tried: Proposal to Solo Practitioner or Head of Firm For your Midterm Project, you will draw upon what you have learned so far in this course. Recall back to Unit 2, where you developed guidelines for ensuring network security in your office. In Unit 3, you summarized ...
Thursday, August 26, 2010 at 5:37pm

accounting
is the 5-question approach to ethical decision making superior to the moral standards or pastin approach
Wednesday, August 25, 2010 at 7:35pm

Accounting
Please check my answers. Identify each of the following as either assets, liabilities, or owner's equity. 1. Petty cash- Owner's Equity 2. Mortgage payable- Liabilities 3. Furniture- Assets 4. Owner's Capital- Owner's Equity 5. Food inventory- Assets 6. Profit...
Tuesday, August 24, 2010 at 8:48pm

Cost Accounting
Please somebody can help with the steps of this problem: Thank you (Comprehensive) Construction Company uses a job order costing system. In May 2008, company made a $1,650,000 bid to build a pedestrian overpass over the beach highway in Gulfport, Mississippi. Company ...
Monday, August 23, 2010 at 3:10pm

marketing
Which of the following statements best describes the modern view of marketing? A. Marketing should take over production, accounting, and financial services within a firm. B. The job of marketing is to get rid of whatever the company is producing. C. Marketing is concerned with...
Sunday, August 22, 2010 at 9:10pm

Accounting
Larry sells each unit for $500. Variable costs per unit equal $300. Totalfixed costs equal $800,000. Larry is currently sellig 5,000 units per period and would like to earn net income of $400,00. comput: Break-evn point indollras, sales units necessary to attain desired income...
Friday, August 20, 2010 at 5:01pm

Accounting
Larry sells each unit for $500. Variable costs per unit equal $300. Totalfixed costs equal $800,000. Larry is currently sellig 5,000 units per period and would like to earn net income of $400,00. comput: Break-evn point indollras, sales units necessary to attain desired income...
Friday, August 20, 2010 at 1:14pm

accounting
When fixed costs are unitized, they A. may appear to be variable costs. B. may cause managers to make decisions that are not in the best interest of the company as a whole. C. are stated on a per unit basis. D. All of the above are true.
Friday, August 20, 2010 at 7:08am

accounting
How many joint products can come from a set of common inputs?
Friday, August 20, 2010 at 7:06am

Health Care Fnancial Accounting
the local school system asks to submit a proposal to do pre-employment physicalsfor 60 bus drivers. What financial or accounting informaton is needed to submit the proposal? what shall I charge the school system?
Thursday, August 19, 2010 at 1:57am

accounting
who is hurt when accounting methods are changed often?
Wednesday, August 18, 2010 at 6:56pm

accounting
what accounting principle would changing accounting methods violate?
Wednesday, August 18, 2010 at 6:55pm

accounting
is it ethical to change accounting methods every year
Wednesday, August 18, 2010 at 6:52pm

accounting
I am calculating inventory methods and wanted to see if anyone could double check my figures? See below weighted Average Date Transaction Units 1-Apr Purchase 250 Unit Cost Ext Cost 5-Apr Sold 10 $10.00 2500 10-Apr Sold 10 15-Apr Purchase 200 $15.00 3000 20-Apr Sold 250 25-Apr...
Tuesday, August 17, 2010 at 9:53am

accounting
Write a 350- to 700-word summary indicating the ways that this memo should be changed based on its audience. In the summary, identify how and why the audience affects the style of communication. Include the following:
Monday, August 16, 2010 at 11:42pm

Child care
Financing and Budgeting 1. Which one of the following categories makes up the largest percentage of a child care operating budget? A. Supplies B. Salaries and benefits C. Food D. Mortgage or rent 2. Child care operating budgets generally contain a pro forma income statement. ...
Monday, August 16, 2010 at 2:26pm

Accounting
Candace Corporation has decided to introduce a new product that can be manufactured using either a capital-intensive method or a labour-intensive method. The predicted manufacturing costs for each method are as follows: Capital-Intensive Labour-Intensive Direct materials per ...
Monday, August 16, 2010 at 10:16am

accounting-explain
April.4 purhcase merchandise from RediX, Inc.,$1900;term 2/10, n/60,FOB shipping point, frieght of $85 added to the invoice. April 10 returned $850 of merchandise to Redix.Inc. perpetual invetory: April 4 (Debit) Inventory $1985 (Credit) Accounts Payable $1985 April 10 (Debit...
Sunday, August 15, 2010 at 10:03pm

accounting
I have need to descirbe two business factors that I might wnat to work for. I am lost can someone give me an example of what this is asking for???
Sunday, August 15, 2010 at 9:07pm

Accounting
Go to the U.S. Securities and Exchange Commission’s Web site and the Financial Accounting Standards Board’s Web site. Identify the mission and main activities of each organization. Then, analyze the similarities and differences between the roles of each entity. Which...
Thursday, August 12, 2010 at 12:58pm

Accounting 225
Use the information in Exercise 2-4 to prepare an August 31 trial balance for Pose-for-Pics. Open these T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; H. Paris, Capital; Photography Fees Earned; and Utilities Expense. Post the general journal ...
Tuesday, August 10, 2010 at 9:20pm

accounting
what control violations might bank reconcilation highlight?
Tuesday, August 10, 2010 at 5:28pm

Accounting please help in homework
The overall (weighted average) cost of capital is composed of a weighted average of : a)The cost of common equity and the cost of debt b)The cost of common equity and the cost of preferred stock c)The cost of preferred stock and the cost of debt d)The cost of common equity, ...
Thursday, August 5, 2010 at 8:37am

Accounting please help in homework
Question No: 1 Mr. A, as a financial consultant, has prepared a feasibility report of a project for XYZ Company that the company is planning to undertake. He has suggested that the project is feasible. The consultancy fee paid to Mr. A will be considered as: a)Sunk cost b)...
Thursday, August 5, 2010 at 12:28am

accounting
The overall (weighted average) cost of capital is composed of a weighted average of : a)The cost of common equity and the cost of debt b)The cost of common equity and the cost of preferred stock c)The cost of preferred stock and the cost of debt d)The cost of common equity, ...
Thursday, August 5, 2010 at 12:27am

Business finance
Question No: 1 The overall (weighted average) cost of capital is composed of a weighted average of : a)The cost of common equity and the cost of debt b)The cost of common equity and the cost of preferred stock c)The cost of preferred stock and the cost of debt d)The cost of ...
Wednesday, August 4, 2010 at 1:08pm

Business finance
Question No: 1 If sales revenue was Rs. 100,000, accounts receivable decreased by Rs. 4,000, and inventory increased by Rs. 3,000, cash received from customers would be: a)Rs. 107,000 b)Rs. 104,000 c)Rs. 101,000 d)Rs. 93,000 Question No 2: Kamran just won a lottery and want to...
Wednesday, August 4, 2010 at 12:41pm

accounting
paid $ 2.600 for advertising what is the accounting equation?
Wednesday, August 4, 2010 at 3:16am

accounting
hi,..!! i hope u can answer it,.. the following data are gathered prior to the preparation of the year end adjusting journal entries of IEMELIF enterprises: nature: last payment date: TAXES december 15, 20-7 ELECTRICITY december 22, 20-7 WATER december 10, 20-7 WAGES december ...
Tuesday, August 3, 2010 at 9:30am

fnancial accounting
Joseph Corporation needs to calculate their September 30 cash balance per books. The following information is available before any adjustments were made based on the monthly bank statement. Outstanding checks $690 Balance per books $6,111 NSF check $275 Safe deposit box fee $45
Monday, August 2, 2010 at 7:17pm

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