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April 16, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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bus3004
mission of the Accounting and Finance Functional Area
Monday, August 26, 2013 at 11:45pm

I don't know
Sorry -- but I know nothing about accounting or bookkeeping. Jiskha doesn't seem to have any regular experts in this field.
Monday, August 26, 2013 at 6:13pm

accounting
Prepare the bank reconciliation at May 31, 2011
Monday, August 26, 2013 at 11:26am

accounting
. On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by $1,200 b. Increase supplies and decrease cash by $1,200 c. Increase supplies and decrease ...
Sunday, August 25, 2013 at 3:05pm

Finance
1. Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $2,218,246. have a life of five years, and would produce the cash flows shown in the following table. Year Cash Flow 1...
Friday, August 23, 2013 at 7:41pm

Finance
Can you show me how to solve these problems? PLEASE!!! I can't figure out how to solve these. :-( 1.Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,953,490. have ...
Friday, August 23, 2013 at 3:19pm

accounting
On october 31 A fund accrued 2000.00 for legal fees. In November 2000 the fund received an invoice. for October 2008 legal fees for an amount of $2500 and paid the invoice on November. 15. Record the journal entry of october 31 2008 and to reflect transaction.
Monday, August 19, 2013 at 11:50pm

Accounting
On october 31 A fund accrued 2000.00 for legal fees. In November 2000 the fund received an invoice. for October 2008 legal fees for an amount of $2500 and paid the invoice on November. 15. Record the journal entry of october 31 2008 and to reflect transaction.
Monday, August 19, 2013 at 11:47pm

accounting
a. a zero balance explanation: income statement accounts (revenues and expenses) are temporary accounts and therefore once these accounts are closed, the balance are zero.
Friday, August 16, 2013 at 2:04pm

College 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 ...
Wednesday, August 14, 2013 at 11:31pm

mult choice / accounting
The question wants to know what the unit cost is. The only way to find the answer is to manipulate the numbers given til you get one of the answer choices. If all else fails, check your book.
Wednesday, August 14, 2013 at 7:52pm

mult choice / accounting
kinda just a guess /: im sorta confused what the questions asking
Wednesday, August 14, 2013 at 7:42pm

mult choice / accounting
How did you get D?
Wednesday, August 14, 2013 at 7:35pm

mult choice / accounting
I would go with D, but im not for sure...
Wednesday, August 14, 2013 at 7:34pm

mult choice / accounting
I don't know. However, 16,800 / 7400 equals one of your answer choices.
Wednesday, August 14, 2013 at 7:32pm

mult choice / accounting
A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the end of the month. Equivalent production for the month was 7,400 units, and production costs ...
Wednesday, August 14, 2013 at 7:27pm

accounting
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings made on the sinking fund investment includes a debit to _____and a credit to ...
Tuesday, August 13, 2013 at 4:32pm

ACCOUNTING
1.b 2.d 3.a can I please get some help?
Tuesday, August 13, 2013 at 3:43pm

ACCOUNTING
Posted by dakota on Tuesday, August 13, 2013 at 2:03am. 1. If market interest rates are higher than the rate offered on the bonds being sold, they will be sold at: A. a premium. B. a discount. C. face value. D. a loss. 2. When bonds are issued at a premium, the bond premium: A...
Tuesday, August 13, 2013 at 3:24pm

business studies.Accounting,economics
http://www.bls.gov/ooh/ Read up in any areas that interest you ... see the list at the left. Read, read, read ...
Tuesday, August 13, 2013 at 11:27am

business studies.Accounting,economics
i have a problem with choosing a career
Tuesday, August 13, 2013 at 7:48am

accounting
1. If market interest rates are higher than the rate offered on the bonds being sold, they will be sold at: A. a premium. B. a discount. C. face value. D. a loss. 2. When bonds are issued at a premium, the bond premium: A. reduces the amount of interest expense over the life ...
Tuesday, August 13, 2013 at 2:03am

accounting
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings made on the sinking fund investment includes a debit to _____and a credit to ...
Tuesday, August 13, 2013 at 1:59am

Accounting
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 2009, when Cocker had the following stockholders' equity accounts. Common Stock- 40,000 shares ...
Tuesday, August 13, 2013 at 1:20am

Accounting
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 2009, when Cocker had the following stockholders' equity accounts. Common Stock- 40,000 shares ...
Tuesday, August 13, 2013 at 1:17am

Accounting
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 2009, when Cocker had the following stockholders' equity accounts. Common Stock- 40,000 shares ...
Tuesday, August 13, 2013 at 1:12am

accounting
Adjusting entries. You have been retained to examine the records of Kathy's Day Care Center as of December 31, 20X3, the close of the current reporting period. In the course of your examination, you discover the following: •On January 1, 20X3, the Supplies account had...
Monday, August 12, 2013 at 4:23pm

BUS
PROVIDED ACCOUNTING SERVICES,AND ANALYZED THE FINANCIAL STRENGTH OF HER CLIENTS BUSINESSES. CARMEN IS WORKING AS A
Monday, August 12, 2013 at 11:09am

accounting
Working capital b. Current ratio c. Acid-test ratio d. Cash ratio e. Days' sales in receivables f. Accounts receivable turnover in days g. Days' sales in inventory h. Inventory turnover in days i. Operating cycle
Sunday, August 11, 2013 at 2:14am

accounting
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.
Wednesday, August 7, 2013 at 11:19pm

Accounting
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.
Wednesday, August 7, 2013 at 11:18pm

Intro to Accounting
If the income statement covered a six-month period ending on November 30, 2010, the third line of the income statement heading would read: a. Month Ended November 30, 2010. b. November 30, 2010., c. Six-month Period Ended November 30, 2010., or d. Month of November, 2010
Wednesday, August 7, 2013 at 10:50pm

accounting
owner got personal loan from his bank and sign note payable.what is the journal entries?
Tuesday, August 6, 2013 at 5:36pm

accounting
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
Tuesday, August 6, 2013 at 4:33pm

accounting
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
Tuesday, August 6, 2013 at 4:33pm

Accounting
When a not-for-profit facility receives a contribution from a member of the community, the cost of the capital is inconsequential when deciding how to use the contribution, because it is, in effect, free money.” Yes
Monday, August 5, 2013 at 7:40pm

accounting
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
Monday, August 5, 2013 at 6:52pm

accounting
On January 1, 2012, White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 5%, the bonds will issue at $562,757.
Monday, August 5, 2013 at 1:31am

accounting
On January 1, 2012, White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 5%, the bonds will issue at $562,757.
Monday, August 5, 2013 at 1:31am

accounting
It is a short term gain of 200 dollars. Tax is .28*200
Thursday, August 1, 2013 at 4:44pm

accounting
How do I figure out taxes associated with stock purchased in 2010 for $1000 held for 5 mths. Then sold for $1200 I am in the 28% tax bracket? (I must use the IRS regulations for capital gains in effect in 2010.) I really want to understand how to work this problem out from ...
Thursday, August 1, 2013 at 4:05pm

accounting
Both Mr. Jones and Mrs. Green earned $50,000 gross in 2009. Yet, Mr. Jones owed IRS $600 on his tax return while the IRS owed Mrs. Green $600 on her tax return. ◦What do you think were the possible reasons for the difference in the results? Explain.
Tuesday, July 30, 2013 at 9:50pm

Accounting
ain't nobody got time fo that!
Tuesday, July 30, 2013 at 3:40am

MAROECONOMICS
Question 9 of 20 5.0 Points Investment includes the purchase of: A. stock options of Enron. B. software by an accounting firm. C. global positioning units for cruise missiles by the government. D. new chalk by a local school board.
Monday, July 29, 2013 at 5:36pm

Accounting
The Clydesdale Company has sales of $4,500,000. It also has invested assets of $2,000,000 and operating expenses of $3,600,000. The company has established a minimum rate of return of 7%. What is Clydesdale Company's profit margin? A.20% B.80% C.44.4% D.18%
Sunday, July 28, 2013 at 6:48pm

Accounting
Materials used by Square Yard Products Inc. in producing Division 3's product are currently purchased from outside suppliers at a cost of $5 per unit. However, the same materials are available from Division 6. Division 6 has unused capacity and can produce the materials ...
Sunday, July 28, 2013 at 6:44pm

Accounting
Moon Shoe Factory is an investment center and is responsible for all of their net income and the use of their assets. In 2012, the invested assets totaled $475,000 and net income was $115,000. What is the rate of return on assets? A.24.2% B.25.0% C.4.0% D.413.0%
Sunday, July 28, 2013 at 6:42pm

Accounting
Chicks Corporation had $1,100,000 in invested assets, sales of $1,210,000, income from operations amounting to $242,000, and a desired minimum rate of return of 15%. The investment turnover for Chicks is: A.1.3 B.1.2 C.1.0 D.1.1
Sunday, July 28, 2013 at 6:42pm

Accounting
The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: StandardCosts Fixed overhead (based on 10,000 hours) 3 hours @ $.80 per hour Variable overhead3 hours @ $2.00 per hour Actual Costs Total variable ...
Sunday, July 28, 2013 at 6:39pm

Accounting
The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct labor 7,500 hours @ $12.00 Actual Costs Direct labor 7,400 hours @ $11.40 The amount of the direct labor rate variance is: A.$4,440 ...
Sunday, July 28, 2013 at 6:38pm

Accounting
The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was $3 per hour. Actual fixed overhead was $360,000 and actual ...
Sunday, July 28, 2013 at 6:25pm

accounting
es. Andy's recording of the transaction was correct.
Thursday, July 25, 2013 at 1:47am

Accounting
Trade credit discount. Compute the annual approximate interest cost of not taking a discount using the following scenarios. What conclusion can be drawn from the calculations? a. 1/10 net 30 b. 1/10 net 30 c. 1/10 net 40 d. 1/10 net 50 e. 1/10 net 60
Wednesday, July 24, 2013 at 4:04pm

Accounting
Direct labor rate variance (AR-SR)AH (11.6-12)(7500) = $ 3,000 favorable
Tuesday, July 23, 2013 at 3:46pm

Accounting
The following data relate to direct labor costs for the current period: Standard costs 6,000 hours at $12.00 Actual costs 7,500 hours at $11.60 What is the direct labor rate variance? Answer A.$15,000 unfavorable B.$3,000 favorable C.$17,400 unfavorable D.$2,400 favorable
Tuesday, July 23, 2013 at 2:02pm

Accounting
The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours @ $.80 per hour Variable overhead 3 hours @ $2.00 per hour Actual Costs Total variable...
Tuesday, July 23, 2013 at 2:02pm

Accounting
The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct labor 7,500 hours @ $12.00 Actual Costs Direct labor 7,400 hours @ $11.40 The amount of the direct labor rate variance is: Answer A.$...
Tuesday, July 23, 2013 at 1:48pm

Accounting
The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was $3 per hour. Actual fixed overhead was $360,000 and actual ...
Tuesday, July 23, 2013 at 1:41pm

Accounting
Past year units 6552000/(600-444) = 42000 units Coming year units 655200/ (600-450) = 43680 units
Sunday, July 21, 2013 at 12:29am

Accounting
60000/(105-70) 60000/35 = 1714.29 0r 1714 units
Sunday, July 21, 2013 at 12:18am

Accounting
Margin units = 32-20 = 12 Fixed cost = 240000 break-even = 240000/12 = 20000 Margin units = 36-20 = 16 Fixed cost = 240000 New break-even = 240000/16 = 15000 20000 units and 15000 units
Saturday, July 20, 2013 at 11:58pm

Accounting
Motorcycle Manufacturers, Inc. projected sales of 76,000 machines for 2012. The estimated January 1, 2012, inventory is 6,500 units, and the desired December 31, 2012, inventory is 7,000 units. What is the budgeted production (in units) for 2012? a. 66,000 b. 75,500 c. 65,000 ...
Saturday, July 20, 2013 at 4:06pm

Accounting
For the past year, Hornbostel Company had fixed costs of $6,552,000, a unit variable cost of $444, and a unit selling price of $600. For the coming year, no changes are expected in revenues and costs, except that a new wage contract will increase variable costs by $6 per unit...
Saturday, July 20, 2013 at 4:02pm

Accounting
If fixed costs are $240,000, the unit selling price is $32, and the unit variable costs are $20, what are the old and new break-even sales (units) if the unit selling price increases by $4? a. 12,000 units and 15,000 units b. 7,500 units and 6,667 units c. 20,000 units and 30,...
Saturday, July 20, 2013 at 3:59pm

Accounting
For the current year ending April 30, Hal Company expects fixed costs of $60,000, a unit variable cost of $70, and a unit selling price of $105.
Saturday, July 20, 2013 at 3:55pm

accounting
how can full-absorption costing be abused by management to misstate financial results
Saturday, July 20, 2013 at 1:37pm

accounting
jhjhjh
Saturday, July 20, 2013 at 12:50am

Accounting
(300000-30000)/(31-22) = 30000 units
Monday, July 15, 2013 at 1:59am

Accounting
Break-even = 250000/(125-73) = 250000/52 = 4808 units
Sunday, July 14, 2013 at 10:45pm

Accounting
If fixed costs are $350,000, the unit selling price is $29, and the unit variable costs are $20, what is the break-even sales (units) if the variable costs are decreased by $4? Answer 26,924 units 12,069 units 21,875 units 38,889 units
Sunday, July 14, 2013 at 9:43pm

Accounting
If fixed costs are $250,000, the unit selling price is $125, and the unit variable costs are $73, what is the break-even sales (units)? Answer 3,425 units 2,381 units 2,000 units 4,808 units
Sunday, July 14, 2013 at 9:42pm

Accounting
If fixed costs are $300,000, the unit selling price is $31, and the unit variable costs are $22, what is the break-even sales (units) if fixed costs are reduced by $30,000? Answer 30,000 units 8,710 units 12,273 units 20,000 units
Sunday, July 14, 2013 at 9:42pm

accounting
http://www.jiskha.com/display.cgi?id=137​3834257
Sunday, July 14, 2013 at 9:17pm

Accounting
12500
Sunday, July 14, 2013 at 9:12pm

accounting
An example of an economic entity is a: a. town. b. business. c. nonprofit hospital. d. church.
Sunday, July 14, 2013 at 9:06pm

accounting
Below is a list of account balances for Currie Hospital as of December 31, 2013. Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.)
Sunday, July 14, 2013 at 8:53pm

Accounting
Production and sales estimates for April are as follows: Estimated inventory (units), April 19,000 Desired inventory (units), April 30 18,000 Expected sales volume (units): Area A 3,500 Area B 4,750 Area C 4,250 Unit sales price $20 The number of units expected to be ...
Sunday, July 14, 2013 at 8:20pm

Accounting
Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZZZ Estimated beginning inventory 30,000 units 18,000 units Desired ending inventory 34,000 units 17,000 units Region I, anticipated sales 320,000 units 260,...
Sunday, July 14, 2013 at 8:20pm

Accounting
As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each month’s sales are for cash. Of the remaining 80% (the credit sales), 60% ...
Sunday, July 14, 2013 at 8:00pm

Accounting
Based on the following production and sales estimates for May, determine the number of units expected to be manufactured in May. Estimated inventory (units), May 1 20,000 Desired inventory (units), May 31 15,000 Expected sales volume (units): South region 20,000 West region 40...
Sunday, July 14, 2013 at 7:58pm

Accounting
Income from operation $78,000
Sunday, July 14, 2013 at 7:39pm

Accounting
a) Sales =$ 1,800,000 Variable costs = 1,080,000 Contribution margin = $720,000 contribution margin ratio = 720000/1800000 = 40% b) sales = $900,000 contribution margin ratio 32% contribution margin = 288000 less fixed cost = 210000 Income from operation = $7800
Sunday, July 14, 2013 at 7:38pm

Accounting
a) unit margin = 80-55 =25 break-even = 740000/25 = 29600 units b) (740000+140000)/25 = 880000/25 = 35200
Sunday, July 14, 2013 at 7:22pm

Accounting
a) unit margin =110-80 = 30 Fixed cost =345000 Break-even = 345000/30 = 11500 units b) new break-even = 345000/40 = 8625 units
Sunday, July 14, 2013 at 6:33pm

Accounting
a. Bryan Company budgets sales of $1,800,000, fixed costs of $1,000,000, and variable costs of $1,080,000. What is the contribution margin ratio for Bryan Company? (Enter your answer as a whole number.) % b. If the contribution margin ratio for Carnegie Company is 32%, sales ...
Sunday, July 14, 2013 at 5:52pm

Accounting
Currently, the unit selling price of a product is $110, the unit variable cost is $80, and the total fixed costs are $345,000. A proposal is being evaluated to increase the unit selling price to $120. a. Compute the current break-even sales (units). units b. Compute the ...
Sunday, July 14, 2013 at 5:51pm

Accounting
For the current year ending March 31, Ewok Company expects fixed costs of $740,000, a unit variable cost of $55, and a unit selling price of $80. a. Compute the anticipated break-even sales (units). units b. Compute the sales (units) required to realize income from operations ...
Sunday, July 14, 2013 at 5:46pm

accounting
JDub, Nunya -- please use the same name for your posts. a.
Sunday, July 14, 2013 at 4:42pm

Accounting
http://www.businessdictionary.com/defini​tion/economic-entity.html I'll be glad to check your answer.
Sunday, July 14, 2013 at 4:41pm

accounting
A firm issues periodic reports called? a. financial statements. b. summaries. c. tax returns. d. audits.
Sunday, July 14, 2013 at 4:40pm

Accounting
An example of an economic entity us a" a. town. b. business. c. nonprofit hospital. d. church
Sunday, July 14, 2013 at 4:37pm

accounting
No question.
Sunday, July 14, 2013 at 1:50pm

accounting
deer valley lodge adds 5 chairlifts, another costs $1.3. 300
Sunday, July 14, 2013 at 1:35pm

accounting
can someone please help me understand how to perform vertical analysis
Saturday, July 13, 2013 at 8:01pm

accounting
describe the main aspects of the regulatory environment which will protect the public from fraud within corporations
Monday, July 8, 2013 at 10:02pm

financial management
http://www.google.com/webhp?source=searc​h_app#sclient=psy-ab&q=finance+and+accou​nting+operating+budget&oq=finance+and+ac​counting+operating+budget&gs_l=serp.3..0​i7i5i30l2j0i8i30.477815.486764.2.489527.​2.2.0.0.0.0.106.200.1j1.2.0...0.0.0..1c.&#...
Monday, July 8, 2013 at 7:04pm

accounting
please help me with locating the information for this: describe the main aspects of the regulatory environment which will protect the public from fraud within corporations, Pay particular attention to SOX requirements.
Monday, July 8, 2013 at 7:02pm

financial management
How are finance and accounting related to an operating budget? where can I find information about this question. Basically I am asking how to break it down for easier searching any help is appreciated
Monday, July 8, 2013 at 7:02pm

Accounting
bonus if $90,000 is used as the projected annual cash flow: $94,961.62- $91,170,83= $3,790.79x0.10= $379.08 Bonus if $70,000 is used as the projected annual cash inflow $94,961.62- $15,355.09=#79,606.53x0.10=$7,960.65
Saturday, July 6, 2013 at 6:57pm

Healthcare Finance
accounting practices within health care organization
Saturday, July 6, 2013 at 10:06am

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