Wednesday
December 17, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting Corporations
Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry for tis transaction? A.Debiting Equipment for $3,000 B.Crediting Common Stock for $3,000 C....
Monday, March 10, 2014 at 12:09pm

Accounting
For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?
Tuesday, March 4, 2014 at 2:25am

Accounting
Jane has a $35,000 bank loan that she wishes to pay off in five equal annual payments with 12% interest. If the first payment is due one year from today, what will be the amount of the annual payment necessary
Sunday, March 2, 2014 at 8:33pm

accounting
A bauxite mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 95,000 tons were mined and sold. Prepare the journal entry for the year's depletion expense.
Saturday, March 1, 2014 at 11:53am

accounting
Uncollectible Accounts—Percentage of Sales Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on December 31, in general journal form, for the ...
Saturday, March 1, 2014 at 10:49am

accounting
Uncollectible Accounts—Percentage of Sales Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on December 31, in general journal form, for the ...
Saturday, March 1, 2014 at 10:48am

accounting
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round ...
Friday, February 28, 2014 at 12:20pm

accounting
Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown below, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was $21,600. ...
Friday, February 28, 2014 at 12:01pm

accounting
If on the opening day of business, you put in supplies worth $250 and $3000 cash, would that be considered a transaction OR would it be considered your beginning balances because it's the first day of business? Would it be considered beginning capital OR a credit to ...
Monday, February 24, 2014 at 9:22pm

accounting
Richard Hamilton has a fast - food franchise and must pay a franchise fee of $35000 plus 3% of gross sales. In terms of cost behavior, the total cost is a: a) variable cost b) fixed cost c) step - fixed cost d) mixed cost
Sunday, February 23, 2014 at 6:03pm

Accounting
An example of a committed fixed cost would be: a) taxes on real estate b) management development programs c) public relations d) advertising programs
Sunday, February 23, 2014 at 5:56pm

accounting
Cash flow information: Direct and indirect methods The comparative year-end balance sheets of Sign Graphics, Inc., revealed the following activity in the company's current accounts:
Sunday, February 23, 2014 at 4:08pm

Acct
One of the companies for which you provide accounting services offers office cleaning services and has 8 customers. Cleaning services are provided in the evenings, Sunday through Thursday, at a rate of $30 per day. Billing is done every Friday. During the month, revenue is ...
Thursday, February 20, 2014 at 8:43am

business,accounting,maths lit,economic
Cn i be able to do law wth maths lit,business,economics nd accounting?
Tuesday, February 18, 2014 at 2:53pm

business study,accounting,economics,mathematicaly
what job or carrer i can get when i am leaning this subjects?
Saturday, February 15, 2014 at 7:26am

accounting
Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the market rate of interest is 5%? (Round to the nearest dollar.)
Thursday, February 13, 2014 at 12:02am

Accounting
Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent had listed the land on the market for $120,000. The note calls for three equal blended payments...
Wednesday, February 12, 2014 at 4:25pm

Accounting
on January 1,20x1,A had 200,000 shares of $5 par value common stock outstanding. On January 15 declared a cash dividend of $0.5 a share
Tuesday, February 11, 2014 at 4:45pm

accounting
What is the typical time span for long-range plans? A. More than 1 year C. 3–5 years B. 2–3 years D. About 25 years
Friday, February 7, 2014 at 8:52pm

accounting
Graham maintains that formulation and implementation are phases in the strategic management process. Yolanda maintains that evaluation and estimation are also part of this process. Who is correct? A. Yolanda is correct. B. Both Graham and Yolanda are correct. C. Graham is ...
Friday, February 7, 2014 at 8:51pm

Accounting
What is Beer direct materials and raw materials? Raw materials are the basic materials and parts that are to be used in the manufacturing process Raw materials that can be physically and directly associated with the finished product during the manufacturing process are called ...
Thursday, February 6, 2014 at 4:15pm

Accounting
Please explain I'm so lost Chandler Ltd. estimates sales for the second quarter of 2014 will be as follows. Month Units April 2,550 May 2,475 June 2,390 The target ending inventory of finished products is as follows. March 31 2,000 April 30 2,230 May 31 2,200 June 30 2,310...
Wednesday, February 5, 2014 at 11:16pm

Accounting
During the fiscal period just ended some of the inventory in the warehouse of Jamie Ltd. wasn’t counted. Jamie Ltd. uses a periodic inventory control system. Explain how the following are affected by the error: • Net income • Current ratio
Wednesday, February 5, 2014 at 10:07pm

accounting
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bonds sold at $592,000. The company uses the straight-line method of amortizing bond discounts. The ...
Tuesday, February 4, 2014 at 9:43pm

accounting
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bonds sold at $592,000. The company uses the straight-line method of amortizing bond discounts. The ...
Tuesday, February 4, 2014 at 9:40pm

accounting
At the end of the current year, $19,900 of fees have been earned but not billed to clients. • a. What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease...
Tuesday, February 4, 2014 at 5:14pm

accounting
Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued revenue (accrued asset). 116117 • 2. A three-year premium paid on a fire insurance policy. • 3. ...
Tuesday, February 4, 2014 at 1:22pm

Accounting. Present Value.
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you want at the end of five years.
Tuesday, February 4, 2014 at 8:26am

Accounting
Suppose you want to have $5,000 saved at the end of five years. The bank will pay 2% interest on your money. How much would you have to deposit today to have the $5,000 you want at the end of five years?
Tuesday, February 4, 2014 at 7:30am

Accounting
What do the “transfer” items in the notes to the financial statements relate to? (in the capital assets section; Plant, property & equipment and Intangible assets)
Tuesday, February 4, 2014 at 12:03am

accounting
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity ratio for Ac
Sunday, February 2, 2014 at 2:56pm

accounting
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity ratio for Ac
Sunday, February 2, 2014 at 2:56pm

Accounting
Could the choice of recording a capital asset impairment or not, impact the financial statements significantly? Explain.
Saturday, February 1, 2014 at 3:48pm

maths literacy,business,economics,accounting
which career to look into when doing those subjects?
Wednesday, January 29, 2014 at 9:39am

HTT / 230
Nance’s Restaurant, a local independent restaurant, is evaluating new point-of-sale (POS) systems and must determine if a new installation is feasible. A new POS installation would include both software and hardware, with a total cost of $20,000. Nance’s Restaurant ...
Tuesday, January 28, 2014 at 11:23am

HELP- Accounting
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912 B. $1,152 C. $1,176 D. $1,200
Monday, January 27, 2014 at 1:48pm

HELP- Accounting
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00 A
Monday, January 27, 2014 at 1:46pm

Help_ Accounting
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00 B
Monday, January 27, 2014 at 9:32am

Help_ Accounting
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912 B. $1,152 C. $1,176 D. $1,200 D
Monday, January 27, 2014 at 9:31am

HELP- Accounting
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the marked price if the baker wishes to obtain a 75% markup on cost. A. $1.27 B. $1.31 C. $1.33 D. $1.45
Monday, January 27, 2014 at 9:29am

Help_ Accounting
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $77.00 B. $84.00 C. $92.00 D. $108.50 A
Monday, January 27, 2014 at 9:27am

Accounting, TAX
Which of the following entities may not use the cash method of accounting? A partnership with average annual gross receipts in excess of $5 million. A C corporation whose average annual gross receipts for the preceding 3 taxable years do not exceed $5 million. A C corporation ...
Saturday, January 25, 2014 at 8:28pm

finance accounting
Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. Ksh.000 Account payable 15,800 equipment 46,000 motor vehicles 25,160 Account receivable 23,080 cash at bank 29,120 cash in hand 160,000 during that ...
Friday, January 24, 2014 at 4:07am

finance accounting
Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. kSH.000 Account payables 15,800 equipment 46,000 motor vehicles 25,160 Account receivable 23,080 Cash at bank 29,120 cash in hand 160,000 during that ...
Friday, January 24, 2014 at 2:45am

Accounting
A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred B
Wednesday, January 22, 2014 at 3:18pm

Accounting
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $77.00 B. $84.00 C. $92.00 D. $108.50 A
Wednesday, January 22, 2014 at 3:17pm

Accounting
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the marked price if the baker wishes to obtain a 75% markup on cost. A. $1.27 B. $1.31 C. $1.33 D. $1.45 A
Wednesday, January 22, 2014 at 3:16pm

Accounting
A good purchased for $480 sells for $700. If the store's operating expenses are 30% of cost, what is the percentage markup on cost? A. 1.5% B. 10.57% C. 15.83% D. 45.83% c
Wednesday, January 22, 2014 at 3:15pm

Accounting
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912 B. $1,152 C. $1,176 D. $1,200 D
Wednesday, January 22, 2014 at 3:13pm

Accounting
stion 8 of 20 5.0 Points Merchandise lists for $5,000 with a trade discount of 10% and terms of 5/30, 3/60, n/90. If the purchaser is invoiced on April 12th and payment is made on June 10th, what is the actual amount paid? A. $4,275 B. $4,350 C. $4,365 D. $4,500 C
Wednesday, January 22, 2014 at 3:11pm

Accounting
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00 B
Wednesday, January 22, 2014 at 3:09pm

Accounting
A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644 D?
Wednesday, January 22, 2014 at 3:07pm

Accounting,economics,business and mathr literacy
Is possible to become a CAwith these subjects
Wednesday, January 22, 2014 at 2:50pm

Accounting
I need to know the requirements of this careir, accountant?
Wednesday, January 22, 2014 at 2:48pm

Accounting,business studies,economics and maths literacy
What career to follow wth maths literacy
Wednesday, January 22, 2014 at 2:27pm

business
In my school i'm doing that subject maths literacy,business,economics,accounting and I want to be a manager what the job i will get
Wednesday, January 22, 2014 at 11:28am

accounting
determine how the disallowance of LIFO will impact U.S. multinational firms that report under IFRS.
Saturday, January 18, 2014 at 8:25am

Accounting 212
Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, preferred stock of $40 par, and 50,000 shares of $120 par common. During its first four years of operations, the following amounts were distributed as dividends: first ...
Friday, January 17, 2014 at 11:42pm

Financial Management
Which of the following is NOT an example of an agency cost? A. Paying an accounting firm to audit your financial statements. B. Paying an insurance company to assure that building codes have been met for new construction. C. Paying a landscaping firm to maintain your firms D. ...
Friday, January 17, 2014 at 6:57pm

accounting
Numbers and measurements are the language of business. Organizations look at results, expenses, quality levels, efficiencies, time, costs, etc. What measures does your department keep track of? How are the measures collected, and how are they summarized/described? How are they...
Wednesday, January 15, 2014 at 9:30pm

accounting
What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then look at the Retained Earnings statement) What does a business owner do when there is an accumulation ...
Tuesday, January 14, 2014 at 11:26pm

accounting
ABC's Product information Current Product Expansion Product (estimate) Selling Price $14.50 $ Units produced and expected to be sold 80,000 5,000 Machine Hours 40,000 5,000 Direct Materials $1.30 per unit $5.60 per unit Direct labor dollars needed per product $2.80 per ...
Tuesday, January 14, 2014 at 12:03am

Accounting
__________ accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables C
Monday, January 13, 2014 at 7:17pm

Accounting
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory D
Monday, January 13, 2014 at 7:17pm

Accounting
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equipment $80,000 Preferred Stock $32,000 Merchandise Inventory $18,000 Retained Earnings ? Prepaid Rent $3,...
Monday, January 13, 2014 at 7:16pm

Accounting
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization C. net credit sales; average owner's equity; leverage D. net income after taxes; net sales; ...
Monday, January 13, 2014 at 7:13pm

Accounting
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False A
Monday, January 13, 2014 at 7:11pm

Accounting
The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.’s owner’s equity?
Saturday, January 11, 2014 at 3:00pm

Accounting
On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following were found: * check issued amounting to $2,500.00 has not been cashed * The bank rejected checks ...
Friday, January 10, 2014 at 9:53am

Business Ethics
Which of the following is NOT one of the key requirements for auditor independence? A. Auditors must disclose all other written communications between management and themselves. b. Public accounting firms must report if they are providing audit services to any company whose ...
Sunday, January 5, 2014 at 4:29pm

061689 bussines accounting and you
All i need detail how to do it i watch video but im not understanding if anybody have more specific explanation details Please help step by step what i need to do im so confused Thank you :)))
Tuesday, December 31, 2013 at 7:13pm

office finances
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks my answer is a
Saturday, December 28, 2013 at 7:23am

Accounting
1. On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market rate of interest was 7%. Harris uses the effective interest rate method to amortize bond premium ...
Friday, December 27, 2013 at 3:31pm

office finances
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks my answer is b
Friday, December 27, 2013 at 12:07pm

corporate accounting
Worthington Company issued 1,000,000 face value, 10% bonds on July 1 2012, when the market rate of interest was 12%. Interest payments are due every July 1 and January 1. Worthington uses a calendar year-end.
Sunday, December 22, 2013 at 7:00am

Accounting
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. Fals A
Thursday, December 19, 2013 at 8:13pm

Accounting
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization C. net credit sales; average owner's equity; leverage D. net income after taxes; net sales; ...
Thursday, December 19, 2013 at 8:12pm

Accounting
Given a net income of $90,000, what is the return on investment for 2000? A. 7.9% B. 22.22% C. 22.78% D. 24.8% C
Thursday, December 19, 2013 at 8:12pm

Accounting
Please use the following information to answer questions 4-5: Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equipment $80,000 Preferred Stock $32,000 ...
Thursday, December 19, 2013 at 8:11pm

Accounting
A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the information given A
Thursday, December 19, 2013 at 8:10pm

Accounting
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory D
Thursday, December 19, 2013 at 8:10pm

Accounting
__________ accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables C
Thursday, December 19, 2013 at 8:08pm

Fin/571
3. Bell Mountain Vineyards is considering updating its current manual accounting system with a high-end electronic system. While the new accounting system would save the company money, the cost of the system continues to decline. The Bell Mountain’s opportunity cost of ...
Monday, December 16, 2013 at 10:21pm

accounts
I need help in a project on 'accounting process' . It should begin with a storyline in which a buisness have to be chosen(i have chosen a tyres dealer). Then transactions taking place between 1 april 2013 to 30 june 2013(accounting period is 3 months). It should ...
Sunday, December 15, 2013 at 4:46am

Financial Accounting
After all events have been recorded, Lang's obligations to creditors represents what percent of total assets? a).record the events under an accounting equation b. After all events have been recorded, Lang's obligations to creditors represents what percent of total ...
Monday, December 9, 2013 at 4:03pm

Accounting
Create an adjusted trial balance & journal entries Bank charges of $932.70 were not recorded in the books for 2014. These were credit card fees charged by the bank for Edwards, INC accepting credit cards from their customers. The charges were recorded accurately on the bank ...
Wednesday, December 4, 2013 at 1:36am

HTT / 230
Can you please tell me if i am on the right tract i more to do and want to see if i am understanding it. Review the SEC website at sec and the FASB Web site at fasb Identify the mission and main activities of each organization. What are the similarities and differences in the ...
Tuesday, December 3, 2013 at 2:16pm

business law
*The below is a scenario in which I have to make an IRAC for (not sure if you know what that is) but read the scenario and see if "Faye" is able to leave legally without ramifications. You must also list the legal rules that apply to this scenario..(for example, if ...
Monday, December 2, 2013 at 3:10pm

Accounting
How can price inflation effect a university negatively in the future? Like, what are a few things in the university that will be impacted?
Sunday, November 24, 2013 at 11:34am

Principles of Accounting I - 29
The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital balance reported?
Saturday, November 23, 2013 at 4:05pm

Accounting
Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual system of inventory. July 2 – Purchased inventory for cash, $800 July 5 – Purchased store ...
Saturday, November 23, 2013 at 3:43pm

Accounting
I am doing a report on finding the major challenges in the future of my university with regards to their revenue and expenses. I have to discuss the main financial obstacles faced by the university and explain why each presents problems with future planning / budgeting. On the...
Saturday, November 23, 2013 at 12:42pm

Business
Why do you think there have been so many accounting scandals in recent years?
Friday, November 22, 2013 at 9:41am

accounting
Harry and Sally were divorced three years ago. In July of the current year, their son, Joe, broke his arm falling out of a tree. Joe lives with Sally and Sally claims him as a dependent on her tax return. Harry paid for the medical expenses related to Joe’s injury. Can ...
Monday, November 18, 2013 at 12:31pm

accounting
Exercise 5-3 Analyzing and recording merchandise transactions-both buyer and seller LO P1, P2 Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $16,000 and credit terms of 3/10, n/60. The merchandise had cost Mesa $10,912. Santa Fe ...
Sunday, November 17, 2013 at 7:53pm

Business 101
1. Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial strength of her clients’ businesses. Carmen is working as a A. public accountant. B. ...
Sunday, November 17, 2013 at 6:59pm

understanding and managing money
Carmen Santiago works for a number of businesses as a consultant. She has helped design accounting systems,provided accounting services,and analyzed the financial strength of her clients'businesses. Carmen is working as a?
Sunday, November 17, 2013 at 5:48pm

accounting
How would you summarize Apple’s cash flow position and what does this statement tell you about where the money is coming from and where it’s going? What should Apple do to improve its cash position and why?
Thursday, November 14, 2013 at 5:06pm

accounting
Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the margin of safety percentage is 45%, 55%, 64%, none of these
Thursday, November 14, 2013 at 12:23am

business accounting
the long distance company that you use charges $5.00 per month and $0.10 per minute per call. If your current bill is $25.00, how many minutes did you use?
Wednesday, November 13, 2013 at 1:45am

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