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Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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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

business accounting
Lakie uses a perpetual inventory system. Ending inventory consists of 500 units, 400 from the July 28 purchase and 100 from the Dec19 purchase. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c...
Friday, June 11, 2010 at 12:53pm

accounting
JULY 12 Paid $300 to send employees to realtor’s workshop. Cheque 614. is this right:::: Salaries expense (Debit) Cash (Credit)
Monday, June 7, 2010 at 5:04pm

Accounting
Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have little or no work history in a responsibility center. The purpose of this training session is to explain the ...
Monday, June 7, 2010 at 3:45pm

accounting
What are some internal controls related to cash? Why is control over cash important? What are the pros and cons of segregation of duties over cash?
Monday, June 7, 2010 at 1:34pm

accounting
Why is a bank reconciliation considered an internal control over cash? How does it provide control? What control violations might the bank reconciliation highlight?
Monday, June 7, 2010 at 1:32pm

accounting help plz
Sent a cheque for $40 to help sponsor a local road race to aid the poor. (This is not to be considered an advertising expense, but it is a business expense.) Cheque 616. i knoe that Cash is Credit BUT im not sure what EXPENSE is Debit?
Sunday, June 6, 2010 at 6:02pm

accounting edit plz
June: 1)Sold a house and collected a $6,000 commission. Ans: Cash (debit) Commission earned (credit) 2)Sold a building lot and earned a commission, $6,500. Payment is to be received on July 8. Ans: Accounts recievable (DR) comission Earned (CR) 3)Received advertising bill for...
Sunday, June 6, 2010 at 5:17pm

Accounting
Can anyone help me with writing a book report for Accounting. It is due on Tuesday, it can pertain to anything in accounting. TIA
Sunday, June 6, 2010 at 1:04pm

accounting
Would Pastin's approach also work in a merger situation? Look at past mergers to see what worked and what did not?
Saturday, June 5, 2010 at 11:37pm

accounting
"Harris Company manufactures and sells a single product. A partically completed schedule of the company's total and per unit cost over the relevant range of 30,000 to 50,000 per units produced and sold are: United produced and Sold: 30,000 ; 40,000; 50,000 Total costs...
Thursday, June 3, 2010 at 5:43am

ACCOUNTING
Mary and Jack Gray, local golf stars, opened the Chip-Shot Driving Range on March 1, 2008, by investing $25,000 of their cash savings in the business. A caddy shack was constructed for cash at a cost of $8,000, and $800 was spent on golf balls and golf clubs. The Grays leased ...
Wednesday, June 2, 2010 at 4:39pm

(basic)accounting help plz!
June 1: Rented office space and paid three months’ rent in advance, $3,000, cheque 601. Ans: Rent expense (DEBIT) Cash (CREDIT) adjustment: a) One month’s rent had expired. i think it will be: prepaid rent (DEBIT $2000) rent payable (CREDIT $2000) CAN U CHECK IF ...
Tuesday, June 1, 2010 at 6:25pm

Managerial Accounting
Which of the following is a characteristic of ABC? 1. improved financial reporting 2. aid to managers in determining product cost 3. used in place of job or process costing 4. use restricted to manufacturing entities
Tuesday, June 1, 2010 at 6:01pm

Managerial Accounting
Which of the following is not a benefit of implementing ABC:? 1. more accurate cost assignments 2. better cost control 3. cheaper to implement 4. more efficient operations 5. all of the above
Tuesday, June 1, 2010 at 5:57pm

Taxation
81. Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any significant inventories of the specialized assets that he sells. Joe reported the following ...
Monday, May 31, 2010 at 8:34pm

edit accounting plz!
June: Sold a house and collected a $6,000 commission. Ans: Cash (debit) Commission earned (credit) Sold a building lot and earned a commission, $6,500. Payment is to be received on July 8. Ans: Accounts recievable (DR) comission Earned (CR) Received advertising bill for June...
Monday, May 31, 2010 at 7:58pm

accounting
Describe Your Perfect Job:
Monday, May 31, 2010 at 7:19am

ACCOUNTING
COM-220 Writing skills assessment week 8
Monday, May 31, 2010 at 2:18am

Writting 4
Part IV: Punctuation In this section of the final, insert appropriate commas and semicolons in the following sentences. In the space provided, indicate the number of marks you added. Write 0 if you add none. 51. Rich accepted the position in May but took a leave of absence in ...
Sunday, May 30, 2010 at 2:11pm

accounting
• Write a 200- to 300-word response explaining what information would be found in each of the following groupings on a classified balance sheet and how that data might indicate the future success or failure of a business: o Current assets o Long-term investments o ...
Saturday, May 29, 2010 at 2:36am

Accounting
I am having a technical problem using Simply Accounting 2008 (student version). I am creating my own company and entering the accounts in the Chart of Accounts. However, there is a problem with the drawings account. Most equity accounts have a credit balance, but a drawings ...
Friday, May 28, 2010 at 10:13pm

Accounting
I am having a technical problem using Simply Accounting 2008 (student version). I am creating my own company and entering the accounts in the Chart of Accounts. However, there is a problem with the drawings account. Most equity accounts have a credit balance, but a drawings ...
Friday, May 28, 2010 at 1:44pm

Writing
Part III: Revision In this section of the final, revise the sentences provided to correct the grammar errors indicated. (In many cases there will be more than one correct alternative to the sentence provided; credit will be given for all correct answers.) Revise the following ...
Friday, May 28, 2010 at 12:46pm

Accounting
1. What would you think of a company's ethics if ti changed accounting methods every year? 2. What accounting principle would changing methods every year violate? 3. Who can be harmed when a company changes its accounting methods too often? How?
Wednesday, May 26, 2010 at 10:14pm

Cost Accounting
What are the differences between job-cost and process-cost systems? When would it be appropriate to use each type of system? How does each system affect the cost of a product?
Tuesday, May 25, 2010 at 11:33am

Cost Accounting
What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not?
Tuesday, May 25, 2010 at 11:29am

accounting
what is the percentage of 600000 tha equals 120000
Monday, May 24, 2010 at 10:19pm

accounting info. systems
The last step in the revenue cycle is cash collections. The accounts receivable department must know when customers pay their invoices, yet segregation of duty controls dictate that the collection and recording functions be kept separate from each other. What is a solution to ...
Sunday, May 23, 2010 at 11:53pm

ACCOUNTING
cost,volume and profit formulas
Sunday, May 23, 2010 at 9:54pm

accounting
I am looking for the answer to this assignment. I am not an accounting major and have no clue. Please help Assignment Name: Unit 4 Individual Project Deliverable Length: 2-3 paragraphs Details: Les Fleurs, a boutique in Paris, France, had the following accounts in its ...
Friday, May 21, 2010 at 5:00pm

accounting
please explain how a large variance from budget would you consider important to address on a monthly hospital variance report:5% 10% 25%
Wednesday, May 19, 2010 at 8:04pm

accounting
solution 5 -- The Accounting Cycle: Reporting Financial Results Comprehensive Problem 1 - Tony's Rentals
Wednesday, May 19, 2010 at 4:40pm

accounting
Post a 200- to 300-word response to the following: You have been hired into a new company to oversee the accounting department. What type of financial reports would you expect to see in your department? How will you use the financial reports available to you to make business ...
Tuesday, May 18, 2010 at 4:16pm

accounting
At the end of April, ABC company had a balance of $37,910 in vacations benefits payable account. During May, employers earned an additional $2,790 in vacation benefits, but some employee used vacation days amounting to $2,050 of vacation benefits.. The $2,050 was charged to ...
Tuesday, May 18, 2010 at 1:08pm

Accounting
Mr. jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a perodic savings plan to do this. If he makes equal annual payments into a savings account that pays 4 percent interest per year, how large must ...
Monday, May 17, 2010 at 10:44am

accounting
Fixed Company produces a single product selling for $30 per unit. Variable costs are $12 per unit and total fixed costs are $4,000. What is the contribution margin ratio? (Points :1) 1.67 2.50 0.40 0.60
Sunday, May 16, 2010 at 11:46am

accounting
Canine Company produces and sells dog treats for discriminating pet owners. The unit selling price is $10, unit variable costs are $7, and total fixed costs are $3,300. What are breakeven sales? (Points :1) $11,000 $4,714 $3,300 $7,700
Sunday, May 16, 2010 at 11:42am

accounting
What would be the fee for a buyer to purchase 2 discount points on a home with a sale price of $275,000?
Sunday, May 16, 2010 at 11:38am

Math
I am looking for a website or two so that I can help my daughter with her accounting homework. Usually my husband helps her, but he was just deployed to Iraq a few days ago. Can you help me locate some websites? I found a few, but I am not willing to pay for them.
Saturday, May 15, 2010 at 3:08pm

Accounting
Case 1. Steve and Linda Hom live in Bartlesville, Oklahoma. Two years ago, they visited Thailand. Linda, a professional chef, was impressed with the cooking methods and the spices used in the Thai food. Bartlesville does not have a Thai restaurant, and the Homs are ...
Saturday, May 15, 2010 at 2:53pm

Finance
You are provided the following information on a company. The total market value is $40 million. The capital structure, shown here, is considered to be optimal. Accounting Value Market Value Bonds, $1000 par, 6% coupon, 6% YTM $10,000,000 $10,000,000 Preferred Stock, 7%, $100 ...
Wednesday, May 12, 2010 at 6:21pm

accounting
how can financial managers budget for unforseen events that require large capital outlays?
Tuesday, May 11, 2010 at 10:41pm

Intermediate Accounting
A note receivable Mild Max Cycles discounted with recourse was dishonored on its maturity date. Mild Max would debit: A. A loss on dishonored receivable. B. A receivable. C. Dishonored note expense. D. Interest expense.
Tuesday, May 11, 2010 at 10:00pm

Accounting
Are "trading assets" and "deferred tax assets" considered quick assets? Thanks.
Tuesday, May 11, 2010 at 4:12pm

business
On a Corporation's balance sheet, a large tract of company-owned land is reported at its original cost of $50,000. The owner of the company is upset, because he thinks the land's true value is ten times that amount. He fears the low-cost figure may hurt the company as ...
Tuesday, May 11, 2010 at 2:01pm

accounting
Think back over what you have studied and learned in this course. Do you have a new perception of or appreciation for the field of accounting and how it contributes to business? Explain
Tuesday, May 11, 2010 at 9:16am

accounting
Cash Management Matrix For each principle in the matrix,describe how the principle ensures the reliability of a company's financial statements and provide at least one example of how the principle might work in a real company. Principles of Internal Control Establishment ...
Monday, May 10, 2010 at 11:43pm

accounting
Cash Management Matrix For each principle in the matrix,describe how the principle ensures the reliability of a company's financial statements and provide at least one example of how the principle might work in a real company. Principles of Internal Control Establishment ...
Monday, May 10, 2010 at 11:42pm

Accounting
Physicians practicing in Eastern University’s hospital have the following compensation agreement. Each doctor bills the patient (or Blue Cross Blue Shield) for his or her services. The doctor pays for all direct expenses incurred in the clinic, including nurses, medical ...
Monday, May 10, 2010 at 9:56pm

Marketing
9. The annual planning at Century Office Systems, Inc. had been arduous but produced a number of important marketing initiatives for the next year. Most notably, company executives had decided to restructure its product-marketing team into two separate groups: (1) Corporate ...
Monday, May 10, 2010 at 4:35pm

accounting
pg76 excercises 2-4 and 2-5
Monday, May 10, 2010 at 2:44pm

accounting
P13-4A The following financial information is for Inca Company. INCA COMPANY Balance Sheets December 31 Assets 2007 2006 Cash $ 70,000 $ 65,000 Short-term investments 55,000 40,000 Receivables 104,000 90,000 Inventories 230,000 125,000 Prepaid expenses 25,000 23,000 Land 130,...
Sunday, May 9, 2010 at 8:07pm

MARKETING
8. Net-4-You is an Internet Service Provider that charges its 1 million customers $19.95 per month for its service. The company's variable costs are $.50 per customer per month. In addition, the company spends $.50 per month per customer. or $6 million annually, on a ...
Saturday, May 8, 2010 at 12:19am

Accounting
The Landis Corporation had 2008 sales of $100 million. The balance sheet items that vary directly with sales and the profit margin are as follows: Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5% Accounts receivable...
Friday, May 7, 2010 at 12:57pm

Accounting
I am trying to tell the difference between trade credit and opportunity costs, but now liking what I find on the internet. Is there a link that shows both? I could not find one. In order to do my assignment I need to compaire the two so I could figure out how opportunity costs...
Thursday, May 6, 2010 at 5:17pm

College Finance
Aunt Sally's Food Inc. is considering expansion. Sally has paid $100,000 for a marketing study to assist in the potential valuation. The study indicates that the new product will have sales of $1,500,000 per year each year for the next 6 years. However, existing product ...
Thursday, May 6, 2010 at 12:30pm

Finance
Aunt Sally's Food Inc. is considering expansion. Sally has paid $100,000 for a marketing study to assist in the potential valuation. The study indicates that the new product will have sales of $1,500,000 per year each year for the next 6 years. However, existing product ...
Thursday, May 6, 2010 at 12:29pm

Accounting
Which of these assets are "quick assets"? -Cash and cash equivalents -Short-term investment -Trading assets -Accounts receivable -Inventories -Deferred tax assets -Other current assets I am thinking "cash and cash equivalents" and "accounts receivable&...
Thursday, May 6, 2010 at 11:23am

accounting
Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken’s modified adjusted gross income for purposes of the bond interest ...
Thursday, May 6, 2010 at 11:10am

accounting
Assuming Alexa receives $20,000 in gross rental receipts, answer the following questions: a. What effect does the rental activity have on her AGI for the year? b. Assuming that Alexa’s AGI from other sources is $90,000, what effect does the rental activity have on Alexa&#...
Thursday, May 6, 2010 at 11:06am

accounting
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any significant inventories of the specialized assets that he sells. Joe reported the following ...
Thursday, May 6, 2010 at 11:04am

ACCOUNTING
COM/220 Grammer exercise week 3 1) dangling modifiers 2) misplaced modifiers 3) correcting dangling or misplaced modifiers
Thursday, May 6, 2010 at 8:54am

Accounting
If you were buying a business what would you look for in the company's financial statement?
Thursday, May 6, 2010 at 1:40am

Accounting
If the owner invests additional capital in the business during the month, how would that new investment be shown in the financial statements?
Thursday, May 6, 2010 at 12:16am

Accounting
Which of these assets are "quick assets"? -Cash and cash equivalents -Short-term investment -Trading assets -Accounts receivable -Inventories -Deferred tax assets -Other current assets I am thinking "cash and cash equivalents" and "accounts receivable&...
Wednesday, May 5, 2010 at 10:37pm

Accounting
Which of these assets are "quick assets"? -Cash and cash equivalents -Short-term investment -Trading assets -Accounts receivable -Inventories -Deferred tax assets -Other current assets I am thinking "cash and cash equivalents" and "accounts receivable&...
Wednesday, May 5, 2010 at 6:51pm

Accounting
Which of these assets are "quick assets"? -Cash and cash equivalents -Short-term investment -Trading assets -Accounts receivable -Inventories -Deferred tax assets -Other current assets I am thinking "cash and cash equivalents" and "accounts receivable&...
Wednesday, May 5, 2010 at 2:27pm

accounting
can anyone help me with accounting
Monday, May 3, 2010 at 2:11am

Accounting
Jones Company had 100 units in beginning inventory at a total cost of $10,000.The company purchased 200 units at a total cost of $26,000. At the end of the year, Jones had 80 units in ending inventory. Instructions (a) Compute the cost of the ending inventory and the cost of ...
Sunday, May 2, 2010 at 5:36pm

accounting
Enter the trial balance on a worksheet and complete the worksheet. E4-2 The adjusted trial balance columns of the worksheet for Goode Company are as follows
Saturday, May 1, 2010 at 6:13pm

accounting
Indicate whether each of the followings accounts normally has a debit balance or a or a credit balance 1.Mary Amos,Capital 2.Cash 3.Fees income 4.Accounts Payable 5.Supplies 6.Salaries Expense 7.Accounts Receivable 8.Equipment
Saturday, May 1, 2010 at 2:29pm

accounting
At the beginning of September,Alex Parker started parker investment services, a firm that offer advice about investment and managing money.on sept 30,th accounting record of the business showed the following information prepare an incom statment for the month of september2010.
Saturday, May 1, 2010 at 2:20pm

accounting
On december1 Doris opened a speech and learning clinic.during december,her firm had the following transaction involving revenue and expenss.did the firm earn a net income or incur a net loss for the period? what was th amount? Paid 2,600 for advertising. provided service for 2...
Saturday, May 1, 2010 at 2:11pm

Accounting
The general manager of a business encounter many types of business transaction provide an example of a transaction?
Friday, April 30, 2010 at 11:53pm

Accounting
How does one determine variance analysis? I am trying to understand this and my text book is confusing me. Also, to determine this, would one find the the answers in the balance sheet or cash flow statement, or from the revenue and expenses?
Friday, April 30, 2010 at 2:21pm

accounting tutoring
these guys are very good in accounting tutoring
Friday, April 30, 2010 at 4:01am

accounting
The transaction would decrease one liability account and increase another liability account
Friday, April 30, 2010 at 12:33am

accounting
E11-9 The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Marvel Corporation at December 31, 2007. Common Stock ($5 stated value) $1,500,000 Paid-in Capital in Excess of Par Value—Preferred Stock 45,000 Paid-in Capital in Excess...
Thursday, April 29, 2010 at 4:57pm

accounting
At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries.
Thursday, April 29, 2010 at 4:28pm

Accounting
I am going to post the Arcadia work sheet so you will have a better understanding for my question: Arcadia Hospital Income Statement YTD Dec 31, 2005 (Dollars in Millions) Operating Revenues 2005 % of rev Budget Over/(Under) Patient revenues 500 550 less: Allowance for ...
Thursday, April 29, 2010 at 12:50pm

Accounting
If the owner of a business invests personal funds into the business, will it be a credit to his drawings? For example,if the owner had drawings of $5000 and then he invested $2000 of his personal funds into the business, would the drawings account then be $3000? Thanks.
Tuesday, April 27, 2010 at 9:52pm

Accounting
If the owner of a business invests personal funds into the business, will it be a credit to his drawings? For example,if the owner had drawings of $5000 and then he invested $2000 of his personal funds into the business, would the drawings account then be $3000? Thanks.
Tuesday, April 27, 2010 at 8:47pm

Accounting
If the owner of a company invests personal funds into his company, where does that fit into the balance sheet. I know the cash will increase, but I don't know how it put it in the equity section. For example, If Greg Jones invests $2000 into his company, would to equity ...
Tuesday, April 27, 2010 at 8:01pm

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