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December 21, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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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

accounting
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 transactions that comprise the dollar amount for each account listed on the income statement and ...
Monday, August 2, 2010 at 2:12pm

accounting
A new inventory management system for ABC Company could be developed at a cost of $200,000. The estimated net operating costs and estimated net benefits over six years of operation would be: Year Estimated Net Operation Estimated NetBenefits 0 200,000 0 1 7,0000 $ $52,000 2 9,...
Monday, August 2, 2010 at 11:50am

accounting
Your CEO has limited knowledge of management accounting but of course, is vitally interested in forecasting profitability under different scenarios. He asked you, the management accountant, to begin your report by answering a few basic questions he's always wondered about...
Saturday, July 31, 2010 at 9:47pm

accounting-explain
Create a table comparing the gross profit for this product’s sales for the month of June under each of the two formulas (1) FIFO and (2) average. Calculate the gross profit margin under each formula. Can you please help me wiht this question. just explain the questions. i...
Friday, July 30, 2010 at 6:52pm

childcare
plz check homework ...thanks 1. Which one of the following categories makes up the largest percentage of a child care operating budget? A. Supplies C. Food B. Salaries and benefits D. Mortgage or rent 2. Child care operating budgets generally contain a pro forma income ...
Friday, July 30, 2010 at 11:12am

accounting
is it ethical for a bookkeeper to take it upon herself to set aside a delinquent account to keep it from going to collections?
Thursday, July 29, 2010 at 8:42pm

accounting
Can someone give me the site where I can do practice problems for Managerial Accounting. My instructor bases his exam on the CPA, the homework is easy. He said that he wants us to think outside the box. I need practice. All were word problems.
Thursday, July 29, 2010 at 8:06pm

Accounting
o What are the advantages of the four different special journals? When would you use each type?
Thursday, July 29, 2010 at 3:26pm

College/Healthcare Accounting
What is the profit variance of 0.3 million? And how is it converted into millions (0.3)
Wednesday, July 28, 2010 at 6:16pm

accounting
Write a 700-word paper answering Question 2 in Ch. 24. Explain the need for full disclosure in financial reporting. Identify possible consequences of failing to properly disclose certain items in financial statements.
Tuesday, July 27, 2010 at 10:27pm

accounting
E11-6 The following direct materials and direct labor data pertain to the operations of Batista Manufacturing Company for the month of August.
Tuesday, July 27, 2010 at 12:48pm

Financial Accounting
Prepare adjusting journal entries for the year ended December 31, 2011 for each of the independent situation in (a) to (f). Assume that prepaid expenses are initially recorded in asset accounts. Assume that fees collected in advance of work are initially recorded as ...
Sunday, July 25, 2010 at 9:38pm

accounting
Data provided: Estimated manufacturing overhead cost for year....$93,000 Estimated direct labor cost for the year... $75,000 Actual manufacturing overhead cost for the year... $84,000 Actual direct labor cost for the year... $64,000 Requirements: 1. Compute the predetermined ...
Sunday, July 25, 2010 at 7:54pm

accounting
express in journal entry form: incurred and paid web site expenses, $2,000
Sunday, July 25, 2010 at 7:46pm

Accounting
1. Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption? 1. $1,200 gain 2. $17,000 gain 3. $1,200 loss 4. $17,000 loss 2. Which of ...
Sunday, July 25, 2010 at 4:05pm

Accounting
1. The price of a bond is equal to the sum of the interest payments and the face amount of the bonds. 1. True 2. False 2. When a corporation issues bonds, it executes a contract with the bondholders, known as a bond debenture. 1. True 2. False 3. A corporation issues $100,000...
Sunday, July 25, 2010 at 4:01pm

accounting
Mr. and Mrs. Garcia have a total of $ 100,000 to be invested in stocks, bonds, and a money market account.The stocks have a rate of return of 12%/ year, while the bonds and the money market account pay 8% and 4%/ year, respec-tively. They have stipulated that the amount ...
Wednesday, July 21, 2010 at 1:14pm

accounting for health care environment
Assume you are the financial director of a clinic that is a part of an organization named Getwell Clinics Incorporated. Your clinic—named after you—serves a suburban community with a population of about 24,000, of which 25% are expected to become patients of the ...
Tuesday, July 20, 2010 at 12:41pm

Accounting
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw ...
Tuesday, July 20, 2010 at 11:37am

accounting
How you would expect the following events to affect each type of lag: a. The company imposes a service charge on late payers. b. A recession causes customers to be short of cash. 1. C. The company changes its terms from net 10 to net 20.
Tuesday, July 20, 2010 at 12:32am

Accounting
It's approaching year-end, and your president has asked you, the management accountant, to visit his office for a heart-to-heart talk. After he closes the door, he tells you that profits for the year will end up below plan and that he's disappointed. He had just ...
Monday, July 19, 2010 at 8:00pm

Accounting
How can I project profits using tradition format ?
Monday, July 19, 2010 at 2:01pm

Managerial Accounting Practices
Your general manager called you into his office to discuss an ongoing problem. He explains that in the past, whenever he wanted to know how the projected income statement might change if sales volume changes, it would take weeks to have the accounting department redo the ...
Sunday, July 18, 2010 at 8:49pm

accounting
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 observed the inventory and that you are satisfied that the inventory was accurately counted. However, you need to test ...
Saturday, July 17, 2010 at 12:15am

accounting
I am showing a $8100 debit balance on prepaid insurance at the end of august. The pre-paid insurance was purchased in Feb. for 12 months. what should my adjusting entry to pre-paid insurance be for the month of Sept. which is the end of my fiscal year? Those are the only ...
Thursday, July 15, 2010 at 7:10pm

payroll accounting
4. First Case Manufacturing Company has annual payroll of $100,000. Voluntary contribution are allowed in the State where this company does business. Total unemployment taxes paid into the State’s unemployment fund amounts to $24,000. Cumulative unemployment benefits paid...
Wednesday, July 14, 2010 at 7:41pm

accounting
What are the different criteria for recognizing revenue?
Wednesday, July 14, 2010 at 3:48pm

accounting
Why is cost recognized as an expense at the time of a sale?
Friday, July 9, 2010 at 10:46am

accounting
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 2010, the costs to date were $3,795,000 and the estimated total costs to ...
Thursday, July 8, 2010 at 3:20pm

accounting
On January 2, 2010, Wine Corporation wishes to issue $2,000,000 (par value) of its 8%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 10%. Using the interest factors below, compute the amount that Wine will realize from the...
Thursday, July 8, 2010 at 3:05pm

accounting
The Ritz Manor is a popular seaside resort. A double room costs $220 for one night. To reserve a room, guests must pay one night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for ...
Wednesday, July 7, 2010 at 1:38pm

accounting
The Ritz Manor is a popular seaside resort. A double room costs $220 for one night. To reserve a room, guests must pay one night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for ...
Wednesday, July 7, 2010 at 1:34pm

Accounting
The income statement section of the worksheet of Smith Company for the year ended December 31, has 169,000 recorded in the Debit column and 193,434 in the Credit column on the line for the Income Summary account. What were the beginning and ending balances for Merchandise ...
Saturday, July 3, 2010 at 7:48pm

accounting
$8,000 in 5 years at a semiannual discount rate of 6%
Friday, July 2, 2010 at 2:06am

xacc 280
If there has been anyone that has taken this class could get a little help. I am not looking for the answers just some more info. I am not understanding it. Instructions For each of the three situations, say if the accounting method used is correct or incorrect. If correct, ...
Thursday, July 1, 2010 at 11:53pm

accounting
On January 2, 2006, Grant Corporation leases an asset to Pippin Corporation under the following conditions: 1. Annual lease payments of $10,000 for twenty years. 2. At the end of the lease term the asset is expected to have a value of $2,750. 3. The fair market value of the ...
Thursday, July 1, 2010 at 5:36am

Individual Income
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 daughter. For the current year, Ann should file her tax return as: a. ...
Wednesday, June 30, 2010 at 5:52pm

business
The ABC Company purchased a solar powered electrical generator on March 9, 2005 for $1.5 million. At that time, it was estimated that the generator would have a useful life of 20 years and a salvage value of $50,000. Over its life span, it was estimated that the generator ...
Tuesday, June 29, 2010 at 6:46pm

accounting
__a__ 1. A responsibility center that incurs costs (and expenses) and generates revenues is classified as a(n) a. cost center. b. revenue center. c. profit center. d. investment center. _a___ 2. The most useful measure for evaluating a manager's performance in controlling ...
Tuesday, June 29, 2010 at 12:54am

accounting
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. 1. What is your profit / loss? You are thinking of increasing your advertising by $200,000. Based on previous data, you know that ...
Sunday, June 27, 2010 at 7:50am

accounting
How formulate your transcations on a general journal then post it to a general ledger
Saturday, June 26, 2010 at 6:57pm

Cost Accounting
For 2008, Southwest Industrial has a monthly overhead cost formula of $42,900 + $6 per direct labor hour. The firm's 2008 expected annual capacity is 156,000 direct labor hours, to be incurred evenly each month. Making one unit of the company's product requres three ...
Saturday, June 26, 2010 at 6:50pm

accounting
For the year ending December 31, 2010, Johnson Manufacturing Company had depreciation totaling $38,000 on its office equipment. Give the journal entry to record the adjusting entry.
Saturday, June 26, 2010 at 4:28am

accounting
What were the begining and ending balances for MERCHANDISE INVENTORY when $169,000 was recorded in the debit column and $193,434 was in the credit column on the line for the INCOME SUMMARY account
Friday, June 25, 2010 at 1:23pm

Accounting
Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance sheet as of December 31, 2005.Account Title Debit Credit Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,000 Accounts receivable...
Thursday, June 24, 2010 at 9:14pm

Accounting information system
1.The number of symbols in data fow diagrams. 2. Type of phrase associated with a process 3. Descriptor for entities outside the system.
Wednesday, June 23, 2010 at 7:37pm

business
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 following topics: o Adjusting lower of cost or market inventory on valuation o ...
Wednesday, June 23, 2010 at 6:14am

accounting
Why does the source document discloses information about the consumers?
Monday, June 21, 2010 at 11:24pm

Accounting
Please describe how the following transactions affects the accounting equation: Provide service for cash Increase, decrease of no change from the following accounts Assets, Liability and Owners Equity
Monday, June 21, 2010 at 9:59am

COLLEGE ACCOUNTING
Sunset Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost 1/1 Beginning Inventory 200 $6.20 1/20 Purchase 300 $6.50 7/25 Purchase 200 $6.80 10/20 Purchase 300 $7.00 A physical count of inventory on December 31 ...
Friday, June 18, 2010 at 8:04pm

accounting
If a company sold inventory that had cost 5,000 for 8,000, where would you place these figures on the balance sheet?
Friday, June 18, 2010 at 12:00pm

accounting
Prepare a journal entry for the purchase of office supplies on October 14 for 9,000, paying $1,800 cash and the remainder on account????????? if anyone knows how to do this can you help me out please!!!! (this is accounting - journal entry for asset purchase)
Wednesday, June 16, 2010 at 10:30pm

accounting
I don't understand how I'm suppose to properly write this. Ratio 2009 2008 Current Ratio .89 1.13 Debt-to-Equity 527% 240% Earnings Per Share $.96 $1.37 We can use financial ratios to evaluate a company's performance over time. Based on the 3 ratios above, how has ...
Wednesday, June 16, 2010 at 4:06pm

Accounting
What is the journal entry for a bounced check. For exemplar, on May 10, Mr. Smith pays his $1000 bill the a certain company, cash receipt #1. On May 12 the check is returned marked Not Sufficient Funds. Would the journal entry look like this. debit credit Accounts Receivable $...
Wednesday, June 16, 2010 at 12:43pm

accounting
wat is the difference between total share capital & Equity Share Capital ?
Tuesday, June 15, 2010 at 12:25pm

accounting
How do I figure out the cost of merchandise purchases for the year?
Monday, June 14, 2010 at 5:06pm

basic accounting edit plz
STEVENS REALTY Paid $300 to send employees to realtor's workshop. is it: Salaries Expense (DEBIT) Cash (CREDIT) OR Salaries Expense (DEBIT) Salaries Payable (CREDIT)
Sunday, June 13, 2010 at 11:58pm

basic accounting!plz help!
STEVENS REALTY Paid $300 to send employees to realtor's workshop. is it: Salaries Expense (DEBIT) Cash (CREDIT) OR Salaries Expense (DEBIT) Salaries Payable (CREDIT)
Sunday, June 13, 2010 at 9:09pm

accounting
Fundamental Accounting Princples Problems 5-A, 6-1A, 6-6B,and 6-7B hope you can help ,desperate
Sunday, June 13, 2010 at 5:23pm

Managerial Accounting
Gladmark company produces two types of get well cards scented and regular drivers for the four activities as follows: Scented Regular Inspection hours 40 160 Set up hours 50 50 Machine hours 200 600 Number of moves 225 75 1. Calculate the consumption ratios for the four ...
Sunday, June 13, 2010 at 3:17pm

Managerial Accounting
Tiger Golf Accessories sells golf shoes, gloves and laser-guided range finder that measures distance Below are unit cost and sales data. Shoes Gloves Range find Unit sales $100 $30 $250 Unit VC 60 10 200 Unit CM $40 $20 $50 Sales Mix 40% 50% 10% Fixed cost are $620,000 a.) ...
Sunday, June 13, 2010 at 3:11pm

Accounting
Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
Sunday, June 13, 2010 at 1:44pm

managerial accounting
Accounting homework Gladmark company produces two types of get well cards scented and regular drivers for the four activities as follows: Scented Regular Inspection hours 40 160 Set up hours 50 50 Machine hours 200 600 Number of moves 225 75 1. Calculate the consumption ratios...
Saturday, June 12, 2010 at 7:34pm

accounting
I need help wit Acc/225 week 2 and the exercise is 2-5 I have to do a T-account and Trial balance for Pose Pics and it is really confusing me
Saturday, June 12, 2010 at 2:07pm

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