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April 25, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting
Can you explain what exactly is financial gain? I am doing a research paper and it must include this?
Saturday, April 3, 2010 at 12:07pm

accounting
Unit 1 Individual Project Deliverable Length: 2-3 paragraphs Details: The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheets. ...
Friday, April 2, 2010 at 7:43pm

College accounting
In order to provide snacks for guests on a 24-hour basis, Night sign a contact with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales.Estimated payments are made at the beginning of each month. Night received a ...
Thursday, April 1, 2010 at 8:07pm

Accounting
I am so confused on how to answer this question given from my instructor. I see many websites that pertain to present value. Is there an explanation somewhere on the internet that would help explain? I googled the question and found"Net present value - Wikipedia, the free...
Thursday, April 1, 2010 at 12:11pm

Accounting
I was just wondering if I was doing this right. In my accounting class we are studying furture value. I was wondering if I was doing this one right... if I was to figure out $5000 that was compounded quartery at 6% for five years, how much would that be. I did this... 5000(1....
Thursday, April 1, 2010 at 1:00am

Managerial Accounting
1) If the Cost were split simply 50-50- than allocated expense would be - Advertising Expenses - $ 2.5 M for each business and warehouse expenses - $ 1.5 M for each business 2) As per my view the Advertisement expenses should be allocated in the ratio of sales (150:20) and ...
Wednesday, March 31, 2010 at 7:19pm

accounting
I need an understanding of a few matters in my accounting class: 1) what are annuities and why is it necessary to calculate there present value? 2) How does the frequency of interest compounding, regardless of the rate of interest or period of accumulation affect the future ...
Wednesday, March 31, 2010 at 5:25pm

accounting
Select the incorrect statement about budgeting committees. A)Budgeting committees usually have responsibility for the coordination of budgeting activities. B) Membership on the budgeting committee is restricted most often to accountants because the budget involves numbers. C) ...
Tuesday, March 30, 2010 at 5:02pm

accounting
John wants to dissolve his business.His balance sheet shows assets with a value of $250,000 in total. Liabilities are shown at 200,000 leaving equity of $50,000 for John.He only expects to get $180,00,000 for his assets when he sells them because some fixed assets are old and ...
Tuesday, March 30, 2010 at 3:53pm

accounting
novelty industries is establishing a sinking fund to redeem rs 5000000 bond issue which matures in 15 years.how much do they have to put into the fund at the end of each year to accunulate the rs 5000000 assuming the funds are compounded at 7% annually.
Tuesday, March 30, 2010 at 1:29am

accounting
Deane Company issues $5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and January 1.The straight-line method is used to amortize bond discount. Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2008, assuming no ...
Monday, March 29, 2010 at 3:41pm

business
Is it necessary for a finance Manager (CFO) to understand Accounting if the firm has a professional accountant (CPA)on staff? Why or Why not?
Monday, March 29, 2010 at 2:04pm

Principle of Accounting
t 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, March 29, 2010 at 1:15am

Accounting PLEASE HELP!!!!!!!!!
Reading Foods is interested in calculating its weighted average cost of capital (WACC). The company’s CFO has collected the following information: • The target capital structure consists of 40 percent debt and 60 percent common stock. • The company has 20-year ...
Sunday, March 28, 2010 at 8:52pm

Accounting
to find noncontrolling?? you add the common stock and retained earning and then minus the investment? is this correct
Sunday, March 28, 2010 at 8:30pm

Math (Accounting)
Reading Foods is interested in calculating its weighted average cost of capital (WACC). The company’s CFO has collected the following information: • The target capital structure consists of 40 percent debt and 60 percent common stock. • The company has 20-year ...
Sunday, March 28, 2010 at 8:22pm

accounting
How is the receipt of a dividend recorded under the equity method?
Sunday, March 28, 2010 at 11:20am

Accounting
At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reversing entry.
Saturday, March 27, 2010 at 10:36am

Compound Interest!
Mr. and Mrs.Eng's property taxes,accounting to $2450, are due on July 1. What amount should the City accept if the taxes are paid 8 months in advance and the City can earn 6% compounded monthly on surplus funds?
Friday, March 26, 2010 at 10:29am

accounting
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: * Increase an asset and increase a liability. * Increase one asset and decrease another asset. * Decrease an asset and decrease owner's ...
Thursday, March 25, 2010 at 1:35pm

accounting
I need a essay on environmental accounting and describing the concepts of it
Thursday, March 25, 2010 at 1:52am

MANAGEMENT ACCOUNTING
COSTS CAN BE CLASSIFIED INTO TWO CATEGORIES FIXED AND VARIABLE COSTS THESE COST BEHAVE DIFFERENTLY BASED ON THE LEVEL OF VOLUME SUPPOSE WE ARE RUNNING A RESTAURANT AND HAVE IDENTIFIED CERTAIN COST ALONG WITH THE NUMBER OF ANNUAL UNIT SOLD OF 1000 TOTAL COST OF RAW MATERIAL ...
Wednesday, March 24, 2010 at 8:27pm

Management Accounting
I don't know which formulas to use for these questions. Many churches sponsor bingo games, a tradition stemming from the time when only specific nonprofit institutions were allowed to sponsor games of chance. Reverend Justin Olds, the pastor of a new parish in Orange ...
Wednesday, March 24, 2010 at 11:20am

Advanced Accounting
Final Exam ACC440 Problem 1 On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. RoadTime’s December 31, 20X1, trial balance in SFr is as follows: Debit Credit...
Wednesday, March 24, 2010 at 12:45am

accounting
Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general journal. The following transactions occur in the month of March: 1) Mar 2 Sold merchandise costing $300 to B Fager for $450 cash, invoice no 5703. 2) 5...
Tuesday, March 23, 2010 at 12:58am

Accounting
Your company is considering a replacement of an old delivery van with a new one that is more efficient. The old van cost $30,000 when it was purchased 5 years ago. The old van is being depreciated using the simplified straight line method over a useful life of 10 years. The ...
Sunday, March 21, 2010 at 11:53pm

Accounting
using the financial statements of landry's restaurant located in appendix a of the text fundamentals of financial accounting 1st ed by phillips libby and libby compute teh following ratios for 2002 and 2003 a. Return on Equity b. Inventory Turnover I cannot locate in ...
Saturday, March 20, 2010 at 4:52pm

Accounting
using the financial statements of landry's restaurant located in appendix a of the text fundamentals of financial accounting 1st ed by phillips libby and libby compute teh following ratios for 2002 and 2003 a. earnings per share b. return on Equity c. current ratio d. ...
Saturday, March 20, 2010 at 3:42pm

accounting
sold 7500 shares of commond stick at $86 per share, received cash
Friday, March 19, 2010 at 11:25pm

accounting
• Write a 200- to 300-word summary analyzing the implications of profitability and the net income of the company.
Thursday, March 18, 2010 at 11:44pm

accounting
preferred shares, $2,89 non-cumulative, 10,000 shares authorized, issued and outstanding for $498,700 common shares, unlimited shares authorized, 120,000 shares issued and outstanding for $946,900 and retained earnings is 450,530 the only share transactions during 2011 were ...
Sunday, March 14, 2010 at 5:19pm

Accounting
A company leases a piece of equipment to another company and appropriately records the 10 year lease as a sale. I have to determine the amount of profit to record in the first year - The lease payments are 500,000 for 10 years. The cost of the equipment is 2,675,000. The ...
Sunday, March 14, 2010 at 8:46am

accounting
At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reversing entry.
Saturday, March 13, 2010 at 8:50pm

Accounting
Explain the components of cost-volume-profit analysis . What does each of the components mean?
Saturday, March 13, 2010 at 1:33pm

Finance
The Norman Company needs to raise $50 million of new equity capital. Its common stock is currently selling for $50 per share. The investment bankers require an underwriting spread of 3 percent of the offering price. The company's legal, accounting and printing expenses, ...
Friday, March 12, 2010 at 2:26pm

Accounting
FIN 200 Checkpoint: break even analysis
Thursday, March 11, 2010 at 11:58pm

Auditing
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments. B. Recurring operating losses that may ...
Thursday, March 11, 2010 at 11:53pm

Accounting
Your department’s accounting software is extremely outdated and you have included the purchase of new software in this year’s fiscal budget. You have decided it is time to start looking into purchasing your company’s accounting software and have chosen someone ...
Thursday, March 11, 2010 at 7:02am

statistics
The accounting department at Weston Materials, Inc., a national manufacturer of unattached garages, reports that is takes two construction workers a mean of 32 hours and a standard deviation of 2 hours to erect the red barn model. Assume the assembly times follow the normal ...
Thursday, March 11, 2010 at 1:16am

financial Accounting
Johnson's boat yard Inc., is completing the accounting process fr he year just ended, Novembe. 30, 2010. The transactions during 2010 have been journalized and posted. The following data with respect to adjusting entries are available: On October 1,2010, Johnson paid $1,...
Wednesday, March 10, 2010 at 3:47pm

managerial accounting
Using the data below please do the following in an Excel spreadsheet and e-mail it directly to me. 1. Prepare an income statement using variable costing (25 points) 2. Compute the unit product cost under both absorption and variable costing (10 points) 3. If net income under ...
Wednesday, March 10, 2010 at 10:30am

accounting/auditing
(Drug Benefits and Post Retirement Liabilities) Delphi Company reduced its other post reitrement benefits by approx 500 million because of a change in the law. The federal government will not reimburse companies for prescription drug benefits that it provides to its employees ...
Tuesday, March 9, 2010 at 7:53pm

Financial Accounting
Here is the problem: if you could just help me get started in the right direction that would be great, I don't even know where to begin with this question ellar Company was established to manufacture components for the auto industry. The components are shipped the same day...
Tuesday, March 9, 2010 at 5:53pm

Accounting
On January 1, 2009, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual rent payments on December 31 of each year. The payments are $11,000 the first year and increase by $600 per year. Benefits expected ...
Monday, March 8, 2010 at 7:07pm

survey of accounting
1. A corporation issues $18,000,000 of 6% bonds to yield an effective interest rate of 7%. a) was the amount of cash received from the sale of the bonds more or less than $18,000,000? b) identify the following amounts related to the bond issue: 1) face amount, 2) market rate ...
Monday, March 8, 2010 at 6:11pm

Accounting
Assume a $4000 investment and the following cash flows for two alternatives. Under the payback method, which of the following would be concluded? a. Investment X should be selected b. Investment Y should be selected c. Investment X and Y provide the same payback period d. ...
Monday, March 8, 2010 at 11:45am

Accounting
Write 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 ...
Friday, March 5, 2010 at 7:45pm

Financing and Accounting
What does rule of thumb evaluation method mean? no matter how many times i read this, I get different answers..and how would I calculate this or what is the formula for the rule of thumb evaluation method???
Friday, March 5, 2010 at 6:55pm

Marketing
Please check and correct my answers for the following multiple choice questions: 1-For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is: *A. One of the universal functions of ...
Friday, March 5, 2010 at 6:16pm

Financial accounting
What does rule of thumb evaluation method mean? no matter how many times i read this, I get different answers..and how would I calculate this or what is the formula for the rule of thumb evaluation method??? I am supposed to compute this example: Arcadia Hospital Income ...
Friday, March 5, 2010 at 5:43pm

accounting
Control activities and monitoring are one and the same. T or F
Friday, March 5, 2010 at 2:58pm

Accounting
Rita forms Finch Corporation by transferring land (basis of 125,000; fair market value of 750,000) which is subject to a mortgage of 375,000. Two weeks prior to incorporating Finch, Rita borrows 125,000 for personal purposes and gives the lender a second mortgage on the land. ...
Thursday, March 4, 2010 at 3:07pm

accounting
Can someone give me leads on the Sachiko case. It is a comparison of US vs. Japan financial statements.
Wednesday, March 3, 2010 at 10:59am

accounting
Which factor would be greater- the present value of $1 for 10 periods at 8% per period or the future value of $1 for 10 periods at 8% per period?
Tuesday, March 2, 2010 at 8:11pm

Accounting
If you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the lowest amount after one year? a. daily b. monthly c. quarterly d. Annually
Tuesday, March 2, 2010 at 5:24pm

accounting
weekly salaries of 12,000 on Friday for a five day week ending assume the period will end on Tuesday and Wednesday?
Tuesday, March 2, 2010 at 12:08pm

federal tax
Carl bought a heavy-duty truck (5-year class recovery property) for his business service on April 30. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations. The truck has a depreciable basis of $39,080 and an ...
Monday, March 1, 2010 at 12:40pm

XACC 280 (accounting)
Does anyone have a completed Appendix E- for Axia class XACC 280 Week 4 assignment - Preparing a financial statement worksheet? I am willing to pay for this if I can verify it was completed correctly.
Sunday, February 28, 2010 at 10:14pm

Accounting
I have almost completed my assignment, but am stuck on this question. I researched my text and other outside sources and can't seem to find the answer. Can anyone provide any guidance on this for me? What are the strengths and weaknesses of the various types of accounting...
Sunday, February 28, 2010 at 8:31pm

Manageral accounting
Cost Allocation prepare responses to the following questions in a Word document: • As financial managers, it is important that you identify and allocate costs appropriately. Discuss the major cost categories. What are some of the methods used to determine the cost ...
Sunday, February 28, 2010 at 8:06am

accounting
How do you journalize on Feb 10: Paid for goods purchased on Feb 3? for feb 3 I put down Inventory and Accounts payable for $5,500.
Saturday, February 27, 2010 at 4:45pm

accounting
Els Company most recently reconciled its bank statement? Els Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,038.05 and No. 5893 for $484.25. The following information is ...
Friday, February 26, 2010 at 10:26am

Accounting
how do I calculate total margin?
Thursday, February 25, 2010 at 10:38pm

Accounting/Financing
I am so weak at this new class I started no matter how many times I read my textbook, I cannot understand how to calculate ratios can someone please show me or guide me how to work these problems, I would really appreciate it, thank you please help me.. Compute the following ...
Thursday, February 25, 2010 at 9:15pm

Accounting/Financing
I am so weak at this new class I started no matter how many times I read my textbook, I cannot understand how to calculate ratios can someone please show me or guide me how to work these problems, I would really appreciate it, thank you please help me.. Compute the following ...
Thursday, February 25, 2010 at 8:21pm

accounting
received 125000 on account from a major customer. wht is the entries for this?
Wednesday, February 24, 2010 at 11:10pm

Managerial Accounting
Instead of sales of 10,000 pair of skis, revised estimates show sales volume at 12,500 pair. At this new volume, additional equipment, at an annual rental of $10,000 must be acquired to manufacture the bindings. This incremental cost would be the only additional fixed cost ...
Wednesday, February 24, 2010 at 11:41am

Accounting
Given the data, would you have invested in Quality Department Store in 2006? Explain why or why not. Summarize your analysis of the financial data to support your reasoning. What recommendations would you make to improve the financial health of this company? Explain why.
Wednesday, February 24, 2010 at 12:07am

Management Accounting
The Minnetonka Corporation, which produces and sells to wholesalers a highly successful line of water skis, has decided to diversify to stabilize sales throughout the year. The company is considering the production of cross-country skis. After considerable research, a cross-...
Tuesday, February 23, 2010 at 12:48pm

College Accounting
The following questions contain numbers and you have to do different things with the number in each question. I'm not sure of the steps to take to figure out each answer. And, when I try to do what the book shows me I come up with wrong answers. So if you could give me the...
Tuesday, February 23, 2010 at 10:35am

programming
Week 3 - Expand Pseudo Code The accounting office indicated the code must be able to handle overtime hours. Add functionality to your pseudo code so that if more than 40 hours are worked, the hours over 40 receive time and a half (1.5 * pay rate). Your new output will need to ...
Monday, February 22, 2010 at 10:42pm

accounting
These questions are so confusing. So I was wondering what are each of the formulas to solve each question or what steps I need to take to complete them? I've been trying and I can't find the correct answer. ____ 11. The Dayton Corporation began the current year with a ...
Monday, February 22, 2010 at 6:28pm

Accounting
The following questions contain numbers and you have to do different things with the number in each question. I'm not sure of the steps to take to figure out each answer. And, when I try to do what the book shows me I come up with wrong answers. So if you could give me the...
Monday, February 22, 2010 at 4:47pm

College Accounting
A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10 %, $100 par, preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total and per ...
Monday, February 22, 2010 at 2:04pm

Accounting
____ 2. As part of the initial investment, Omar contributes accounts receivable that had a balance of $25,000 in the accounts of a sole proprietorship. Of this amount, $1,150 is completely worthless. For the remaining accounts, the partnership will establish a provision for ...
Monday, February 22, 2010 at 12:27pm

accounting
suppose that you are a manager in a general hospital.list some of the cost information that you might want to know about and have reported to you.plz help me solving this activity
Saturday, February 20, 2010 at 6:22am

accounting
Your team has been assigned the duty to diagram the audit trail for your company. In your diagram, show several transactions and how they would be tracked from the journal entry to the financial statement and back to the journal entry
Saturday, February 20, 2010 at 12:01am

accounting
The following information is for X Company for 2009: Direct materials purchased $ 36,484 Direct materials used 34,013 Direct labor 14,439 Overhead 25,464 Work in Process, January 1, 2009 4,118 Finished Goods, January 1, 2009 2,326 Work in Process, December 31, 2009 2,980 ...
Friday, February 19, 2010 at 6:20pm

Accounting
What is the effect on income before taxes if the aging category is changed on an accounts receivable by issuing a new invoice to customers with a revised date?
Friday, February 19, 2010 at 1:03am

Financing and Accounting
How would I find the formula for these problems? Please help me.. I would really appreciate it.. thank you Calculate the present value of the following: $7,000 in 5 years at an annual discount rate of 6% $7,000 in 5 years at a semiannual discount rate of 6% $7,000 in 5 years ...
Thursday, February 18, 2010 at 5:59pm

Accounting
How would I find the formula for these problems? Please help me.. I would really appreciate it.. thank you Calculate the present value of the following: $7,000 in 5 years at an annual discount rate of 6% $7,000 in 5 years at a semiannual discount rate of 6% $7,000 in 5 years ...
Thursday, February 18, 2010 at 5:32pm

accounting
what are all accounting formulas bcause i am having a hard time in mangerial
Wednesday, February 17, 2010 at 1:47pm

Accounting
Question #1 (a) I am working on the adjusting balance sheet. I am close to where I need to be in my adjustments and wondering if I am missing a step to figuring a few things out. If money is earned but not unpaid or recorded for salaries, and the next payday is after the ...
Tuesday, February 16, 2010 at 1:14pm

accounting class
Prepare a post-closing trial balance at April 30, 2008 for Goode Company.You can place summation formulas to compute totals at the end of debit and credit columns. Otherwise, you can compute totals using a calculator, then enter totals directly.
Sunday, February 14, 2010 at 9:25pm

College 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 ...
Sunday, February 14, 2010 at 12:50am

College Accounting
Your client is preparing financial statements to show the bank. You know that he has incurred a computer repair expense during the month, but you see no such expense on the books. When you question the client, he tells you that he has not received the official bill, although ...
Sunday, February 14, 2010 at 12:41am

accounting
what would happen if a company had both interest payments and lease payments
Saturday, February 13, 2010 at 1:54pm

Accounting 1
May 1 Danny and Mary Jane deposited $50,000 into business checking account May 1 Rented theater building for shows – paid 6 months rent up front - $24,000 May 1 Purchased six-month insurance policy to cover rented building and customers - $3,000 May 1 Paid utility ...
Saturday, February 13, 2010 at 3:15am

managerial accounting
Tusk pty ltd uses standard costs system for its single product in which variable manufacturing overheads is applied on the basis of direct labour hours. The following information is given: Standard costs: Raw material[R16per kg] Per unit R 24.00 Direct labour[0.75hour] p er ...
Friday, February 12, 2010 at 6:16am

accounting
What is the purpose of the chart of accounts? o Why are internal controls and audit trails important in a computerized accounting system? · This assignment can be completed using Microsoft Word or the online posting tool.
Thursday, February 11, 2010 at 9:46pm

Accounting
The City of Jamestown has agreed to acquire a new city maintenance building under a capital lease agreement. At the inception of the lease, a payment of $100,000 is to be made; nine anual lease payments, each in the amount of $100,000, are to be made at the end of each year ...
Thursday, February 11, 2010 at 12:22pm

Intermediate Accounting
The 10% bonds payable of Klein Company had a net carrying amount of $570,000 on December 31, 2006. The bonds, which had a face value of $600,000, were issued at a discount to yield 12%. The amortization of the bond discount was recorded under the effective-interest method. ...
Thursday, February 11, 2010 at 11:14am

accounting
Give a 200 to 300 word explaination of the three tools of financial statement analysis.
Wednesday, February 10, 2010 at 10:17pm

Information Technology
Choose one of the organizational departments of a business: accounting, finance, HR, or otherwise. What is the role of this department? What type(s) of information does the department need? How does the department use that information?
Wednesday, February 10, 2010 at 6:04am

accounting
Ed O'Connor Associates reported short-termed notes payable as follows: 2012 2011 current liabilities (partial) short-term n/p $16,700 $15,500 salary payable 3,800 3,200 During 2012 O'Connor paid off both current liabilities that were left over from 2011. During 2012, O...
Tuesday, February 9, 2010 at 9:42pm

accounting
What items appear in financial statements of merchandising companies that do not appear in the financial statements of service companies? Why is there a difference?
Tuesday, February 9, 2010 at 9:21pm

accounting
Jesse, Inc., located in Mesa, Arizona, manufactures high-end baby chairs. The firm’s cost accountant, Lisa, has been assigned by the CEO to determine how many baby chairs Jesse, Inc., needs to make and sell in order to break even. She is given the following data: Baby ...
Tuesday, February 9, 2010 at 1:18am

Accounting
On January 1, 2005, Lynn Corporation acquired equipment at a cost of $600,000.
Monday, February 8, 2010 at 1:23pm

accounting
the spare parts inventory account shows an unadjusted balance of 450. a physical count shows a blance on hand of 100
Monday, February 8, 2010 at 1:11pm

accounting
Which journal would you use if you invested cash in the business?
Monday, February 8, 2010 at 12:51pm

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