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September 17, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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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

accounting
I am stumped on my last question which is using the discounted cash flow formula.... what effect will increase the required rate of return on the present value. I'm getting that it will be increased. Is this right?
Tuesday, April 27, 2010 at 5:34pm

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 3:07pm

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 1:52pm

Accounting
Based on the following values, calculate the Return on Assets? Gross Income = $2.7M || Net Income = $1.8M || Net Assets = $900K || Current Assets = $450K I'm having a hard time with this and unsure of the formula to use. Can you please help?
Tuesday, April 27, 2010 at 9:18am

accounting
take suitable example and explain the impact of costs and volume on profits of a business.
Tuesday, April 27, 2010 at 4:06am

Accounting
When the owner of a company invests his personal funds into the business, would it be entered as a credit to his drawings in the Ledger or would it be entered in a new column under the company's revenue?
Monday, April 26, 2010 at 2:55pm

accounting
debit and credit journal entries- Sold merchandise with retail value of $6,000 and a cost of $4,080 to Chang Corp., invoice dated Jan. 13.
Monday, April 26, 2010 at 1:57pm

ACCOUNTING
Gain on redemption of bonds 1,150 Income tax: Applicable to continuing operations Applicable to loss from discontinued operations Applicable to gain from redemption of bonds 247,509 100,000 150 Interest expense 778,266 Interest revenue 2,025 Loss from disposal of discontinued ...
Monday, April 26, 2010 at 9:38am

ACCOUNTING
if a company issued $32,000,000 of 10-year, 12% bonds at an effective interest rate of 13%, receiving cash of $30,237,139 and interest on the bonds is paid semiannually how do you calculate the first semiannual interest payment and the amortization of the bond discount?
Monday, April 26, 2010 at 7:41am

accounting
what effect would the change in predetermined overhead rate have on the company's inventory values?
Monday, April 26, 2010 at 1:22am

accounting
Shania Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000 and $45,000 of drafting equipment to launch the business in exchange for its common stock. Which journal entry would this be?
Sunday, April 25, 2010 at 5:10pm

accounting
The following data represent total revenues (from all sources) for the Palmdale Human Service Agency for the past four fiscal years: 20X1 $15,000,000 20X2 $14,250,000 20X3 $14,000,000 20X4 $13,500,000 Forecast total revenues for fiscal year 20X5 using moving averages, weighted...
Sunday, April 25, 2010 at 5:10pm

Accounting
The following are all of the accounts of Mean Green Company that have a balance at the end of August, the company's first month of operation: Accounts receivable $11,000 Cash $10,100 Equipment 39,700 Advertising expense 3,000 Service revenues earned 32,000 Accounts payable...
Sunday, April 25, 2010 at 1:19pm

Accounting
Sam's grocery store had the following at the end of 20X5: Cash $22,000 Accounts receivable 49,000 Accounts payable 17,000 Fees earned 61,000 Rent expense 12,000 Insurance expense 3,600 Salary expense 18,000 Supplies 15,000 Sam, capital 49,600 Sam, withdrawals 8,000 If all ...
Sunday, April 25, 2010 at 1:18pm

Accounting
Janfer Book Store purchased a new automobile that cost $10,000, made a down payment of $3,000, and signed a note payable for the balance. The entry to record this transaction is: Cash 3,000.00 Note Payable7,000.00 Automobile 10,000.00 Cash 3,000.00 Automobile 3,000.00 ...
Sunday, April 25, 2010 at 1:16pm

accounting
The following transactions occurred during July: (1) Received $700 cash for photography services provided to customer during the month. (2) Received $1,500 cash from Barbara Hanson, the owner of the business. (3) Received $800 from a customer in partial payment of his account...
Sunday, April 25, 2010 at 12:24pm

accounting
Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial ...
Sunday, April 25, 2010 at 11:42am

accounting
how do you find the percent of $20768 ?
Sunday, April 25, 2010 at 8:23am

accounting
consider the purpose of the trail balance. do you feel it is important? How would you use this with your own records?
Sunday, April 25, 2010 at 12:05am

Accounting
Target corp is currently seeking additional capital to expand it's operation. Two companies have shown interset. The first company would like to have part ownership. Company 2 would like to provide target with a loan. Write a memo in which you explain what information from...
Saturday, April 24, 2010 at 7:13pm

Accounting
What conclusions can be drawn about the frequency of compounding interest? What conclusions can be drawn about the length of time an amount is compounding?
Friday, April 23, 2010 at 6:37pm

accounting
Select a business in your community and observe its internal control over cash receipts and cash payments. The business could be a bank, bookstore, restaurant, department store, or other retailer. What are the strengths and weaknesses? What would you do to correct the ...
Friday, April 23, 2010 at 3:26pm

accounting
Invest $5,000 in a savings account at 6.6% interest compounded monthly.
Friday, April 23, 2010 at 12:06pm

accounting
Explain, with examples, the internal controls which you would expect the partnership to maintain.
Friday, April 23, 2010 at 9:20am

Accounting
I am trying to figure out if I am doing this accounting problem correctly? Old van was purchased 5 years ago at 20,000. estimated life was 5years with salvage value of 5,000. van has to have repairs enging and tranny for 4000 and will extend life of van by 5years. new tires ...
Thursday, April 22, 2010 at 9:12pm

Accounting
what dificulties will a business face if it does not prepare a bank statement at regular intervals?
Thursday, April 22, 2010 at 7:00pm

Accounting 2
Can someone help me with this problem. At least get me started so I can figure out how to do this. Your manager, Mr. Smith, has asked you to prepare a report, for a client, based on the following inquiry (see below). This report will be reviewed by Mr. Smith and used to ...
Thursday, April 22, 2010 at 6:23pm

Accounting
I hope you can help me. My assignment is called costs and cost control. I have all the definitions and examples of the given terms, except for one. I need to know what shadow cost centers are and an example for shadow cost centers. Thank you and have a great day.
Thursday, April 22, 2010 at 3:11pm

college accounting 12 edition chapters 1-24
Chapter 2 Exercises 2.8 and 2.9 Chapter 3 Exercises 3.3 and 3.4
Thursday, April 22, 2010 at 8:21am

accounting
The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. a. The transaction would increase ...
Thursday, April 22, 2010 at 8:17am

accounting
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?
Thursday, April 22, 2010 at 12:46am

accounting
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?
Thursday, April 22, 2010 at 12:39am

ACCOUNTING
Considering the following pricing concepts; Markup Methods (markup on Total Cost, Variable Cost, and Product Cost) and Target Costing, explain when it is appropriate (and why) to use each of the methods. (Hint: use multiple choice questions 1 and 2 to start you in the right ...
Wednesday, April 21, 2010 at 1:50am

ACCOUNTING
Considering the following pricing concepts; Markup Methods (markup on Total Cost, Variable Cost, and Product Cost) and Target Costing, explain when it is appropriate (and why) to use each of the methods. (Hint: use multiple choice questions 1 and 2 to start you in the right ...
Wednesday, April 21, 2010 at 1:49am

Accounting 541Accounting Theory and Research
Efficient markets assume that stockholder wealth is affected by the amount and timing of cash flows. Which alternative is more favorable to them: purchasing before year-end or waiting until January? Explain your answer.
Monday, April 19, 2010 at 7:41pm

accounting
Ms, Sue can you hlep me?
Sunday, April 18, 2010 at 6:33pm

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 ...
Sunday, April 18, 2010 at 6:06pm

accounting
I'm preparing a finacial statement worksheet.
Sunday, April 18, 2010 at 5:50pm

accounting
I'm having trouble computing the accured salaries for appendix e of an assignment can you help. The accured slary for the month is 280 and the salary expense is 560
Sunday, April 18, 2010 at 5:33pm

Accounting (ACC/230)
Can someone please explain to me what the effective tax rate says about a company and means for a company? I am lost.
Sunday, April 18, 2010 at 12:14pm

Accounting (ACC/230)
Where would "asset impairment and store closing charges" appear on a multiple-step income statement? I am not quite sure if it goes under operating expenses or other income and expenses. Could someone please clarify this for me?
Sunday, April 18, 2010 at 9:39am

Accounting
The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____. A. increasing ...
Sunday, April 18, 2010 at 12:53am

Accounting
I need help with this problem. Could someone possibly explain to me how to prepare the journal entry for this problem? Prepare journal entries to record each of the following purchases transactions of a merchandising company. Show supporting calculations and assume a perpetual...
Saturday, April 17, 2010 at 2:33pm

Accounting
Hanson Corp uses a process costing system. Materials are added at the start of the process. Beginning inventory for January consisted of 1,900 units (40% complete for conversion) with a cost of $15,000. 10,900 units were started and completed during January. On January 31, the...
Saturday, April 17, 2010 at 6:29am

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 Property, ...
Friday, April 16, 2010 at 6:07pm

accounting
I just have a small question about how to calculate the shares of common stocks, no par having the information below, thanks. The following stockholders' equity accounts arranged alphabetically are in the ledger of Tyner Corporation at December 31, 2010. Common Stock ($5 ...
Thursday, April 15, 2010 at 10:24am

accounting
What is the impact on the financial statements of missing a step when completing the accounting cycle?
Thursday, April 15, 2010 at 1:59am

accounting
Exercise 9-13: Accounts receivable turnover L.O. A1 The following information is from the annual financial statements of Lucilla Company. 2009 2008 2007 Net Sales $ 262,000 $ 193,000 $ 245,000 Accounts Receivable, net (year-end) 42,700 40,500 37,200...
Wednesday, April 14, 2010 at 3:14pm

accounting
On june 1, coble company ltd borrows $40,000 from first bank on a 6-month, $40,000, 9% note. The note matures on December 1
Wednesday, April 14, 2010 at 12:19pm

Accounting Math
Please how do i calculate this problem. Your girlfriend just won the Power Ball lottery. She has the choice of $10,000,000 today or a 30-year annuity of $500,000, with the first payment coming today. What rate of return is built into the annuity?
Wednesday, April 14, 2010 at 7:31am

human resources
In 1992, Deloitte & Touche, LLP, was celebrating the tenth year in which approximately 50 percent of its new hires were women. Because it takes nearly a decade to become a partner, the accounting firm based in Wilton, Connecticut, was now sitting back waiting for all the women...
Tuesday, April 13, 2010 at 9:16pm

Accounting
Compare and contrast adjusted book value with market value. What are some of the strengths and weaknesses of each approach? Which method do you think is more accurate? Explain your answer. I DON'T UNDERSTAND!
Tuesday, April 13, 2010 at 8:53pm

human resources
In 1992, Deloitte & Touche, LLP, was celebrating the tenth year in which approximately 50 percent of its new hires were women. Because it takes nearly a decade to become a partner, the accounting firm based in Wilton, Connecticut, was now sitting back waiting for all the women...
Tuesday, April 13, 2010 at 5:46pm

accounting
How do we treat a long term investment in the B/S, does it go under fixed assets or under current assets? Thanks
Tuesday, April 13, 2010 at 9:34am

accounting
You are a hard-working analyst in the office of financial operations for a manufacturing firm that produces a single product. You have developed the following cost structure information for this company. All of it pertains to an output level of 10 million units. Using this ...
Monday, April 12, 2010 at 10:47pm

Accounting
Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the transactions. July 1 Invested $14,000 cash in the business 1 Purchased a used truck for $10,000 paying $3,000 cash and the balance on account. 3 Purchased cleaning ...
Monday, April 12, 2010 at 8:34pm

Accounting
The cost principle requires that when assets are acquired, they be recorded at
Monday, April 12, 2010 at 7:22pm

Accounting/Valuing Assets
What do they mean by compare and contrast adjusted book value with marketvalue? Are there any strengths or weaknessses of these approachs?
Monday, April 12, 2010 at 4:04pm

accounting
A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current month of October: Record these ...
Sunday, April 11, 2010 at 5:04pm

Advanced Accounting
Estimated and Actual Goodwill Passion Company is trying to decide whether or not to acquire Desiree Inc. The following balance sheet for Desiree Inc. provides information about book values. Estimated market values are also listed, based upon Passion Company’s appraisals. ...
Sunday, April 11, 2010 at 4:52pm

accounting
create a balance sheet for this company from May 1 to August 31.Deposit$1000,$600 loan,August 31-balance of checkbook=$690,$400 supplies,Owe employees$1900.00+$200more,$600 for 6 month lease in advance,$300 repair bill,$300 trailor for equipment,$460 withdraw for owner. Need ...
Saturday, April 10, 2010 at 9:55pm

accounting
Total vending machine sales were $2,300 for the month of May. What account are affected
Saturday, April 10, 2010 at 7:35pm

accounting
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 ...
Saturday, April 10, 2010 at 1:35pm

accounting
A guest become ill and was unable to stay the entire week. A refund was issued in the amount of $1,000. What account was affected?
Saturday, April 10, 2010 at 12:10pm

ACCOUNTING/Bobpursley
Yes I do,but just wondering if there was a website or two that would be helpful. I am about 200 words shy of 750. I thought that adding additional information would bust things up a bit.
Friday, April 9, 2010 at 6:00pm

ACCOUNTING
This is our next assignemt due. I do not know where to begin looking. Any ideas? The analysis of financial statements is critical for determining the financial health of any organization. Financial statement analysis, however, demands a thorough understanding of accounting ...
Friday, April 9, 2010 at 5:51pm

accounting
I've solved most of the problem below, however I'm confused about the kind of information they need in the second part: Prepare the entry to allocate Snider's debit balance to Mantle and Mays. Prepare the entry to record the final distribution of cash. Account/...
Friday, April 9, 2010 at 3:44pm

accounting
The partners in New Yorker Company decide to liquidate the firm when the balance sheet shows the following. NEW YORKER COMPANY Balance Sheet May 31, 2010 Assets Liabilities and Owners' Equity Cash $27,700 Notes payable $13,140 Accounts receivable 24,790 Accounts payable 27...
Thursday, April 8, 2010 at 5:55pm

Accounting
I know that you cannot answer homework questions directly, but in my accounting class we have to do a financial statement for Arcadia Hospital which is our checkpoint for Axia College of University of Phoenix. I did see previous question hoping to get more of a general idea of...
Thursday, April 8, 2010 at 1:04am

accounting
Prepare adjusting journal entries for the year ended (or date of) December 31, 2005, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as ...
Tuesday, April 6, 2010 at 7:25pm

accounting
I have the postclosing trial balance of the company from the previous month. I also have the AR closing & the AP closing numbers. Do these numbers get transfered into the new month general journal and ledger accounts as balances forward?
Tuesday, April 6, 2010 at 7:04pm

accounting
Explain each step of the accounting cycle. Describe at least one transaction that would occur at the company you selected in each of these steps.
Tuesday, April 6, 2010 at 9:21am

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