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Homework Help: Business: Accounting

Recent Homework Questions About Accounting

accounting
which is an operating expense a salaries expense b payroll expense

Government
I need some help with some Government questions: 1. All of the following are ways that formulating our budget has changed EXCEPT: A. Budget and Accounting Act of 1921 B. transfer of Office of Management and Budget to the Executive Office of the President C. Congressional ...

accounting
Starbucks-. Locate the company’s annual report as outlined previously. Find the company’s segment information; it should be in the “Notes to Consolidated Financial Statements” or other similarly named section. Look for the word “Segment” in a heading—that is ...

accounting 1
how much is total liabilities? accounts recievable 20,000 accounts payable 30,000 taxes and licenses 40,000 uncollectible account 10,000 rent payable 8,000 utilities payable 5,000

Accounting
The Fairport Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Cost of Electricity (Y) $13,000 $15,000 $17,000 $14,500 Direct Labor-Hours (X) 1,500 1,700 2,000 1,600 What would be the best equation using ...

Accounting
computer equipment beginning balance is 20,000 working on the adjusted general journal and the scenario is the computer has a 4 year life with no salvage value not sure how to log this

accounting
a 10 year coupon bond that yield 5% is issued with a 1000 par value. what is the issuance price of the bond

Accounting
On Jan.1, Pedigo Corporation purchased a small company and recorded goodwill of $150,000. its useful life is indefinite. may 1- purchased for 475,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.Prepare adjusting entries at December 31 to ...

corporate accounting
meaning of reserve capital

Intro to Accounting
Jimenez Enterprises issued 8%, 9-year, $2,486,400 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2014, and are issued on that date. The discount rate of interest for such bonds on April 1, 2014, is 8%. What cash proceeds ...

accounting
How to make a journal entry

Accounting
Hanover Corp. obtained the following information from its absorption costing accounting records: Operating Income = $24,000 Total Product Costs Incurred During The Period = $16,000 Value of Beginning Work-In-Process and Finished Goods Inventories = $0 Value of Ending Work-In-...

STAT
1. In a study of the income of U.S. factory workers, a random sample of 100 workers shows a sample mean of $35,000. Assume that the population standard deviation is $4,500, and that the population is normally distributed. A) Compute the 90%, 95% and 99% confidence intervals ...

Accounting
A company uses activity-based costing. The company produces two products, 001 and 002. Information relating to 001 is as follows: Units produced: 38,000 Machine-hours: 15,000 Direct labor hours: 16,000 Materials handling (number of moves): 8,000 Setups: 10,000 Information for ...

accounting
8 cost categories that variable and which are fixed

Sociology/Social Responsibility
I don't know how to set up the journal entry (when I Google it it just gives me accounting journals). I also am not sure how to go about answering the questions. Could someone please help!! Write a 2-3 paragraph Journal entry addressing the following questions. What ...

Accounting
How can I calculate the setup costs of a product using the activity-based costing method?

accounting
Can a cost can be incremental but not relevant or relevant and not incremental?Provide an example of each.

cost accounting
how to compute contribution per unit , in dollars and percentages

Financial accounting 4e
Tybalt invested $6000 cash in the business in exchange for more common stock during year 2013 ( the December 31,2012 credit balance of retained earning was $168900) Tybalt construction is required to make a $16500 payment on its long-term notes payable during 2014.

accounting 1
Ethic Case The Controller for Anderson Electric, Ron Foss, is reviewing the year-end adjusting entries prepared by the accounting staff for approval before they are posted to the general ledger. Angela Bennett, the company president, has suggested the December accrual for wage...

accounting
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. Halifax only makes credit sales. The company began 2013 with an allowance for sales returns of $300,000. During 2013, Halifax ...

Managerial Accounting
The overhead rate for materials handling is $10 per part based on an estimated total cost of $900. Products X & Y have 320 and 280 parts respectively. What is the overhead allocated to X & Y? A. Product X $3,200, Product Y $4,400 B. Product X $4,800, Product Y $4,400 C. ...

Accounting
I need to know how to journalize this in a General Journal, but I don't know if it is required to even write down. Signed a lease agreement to rent office space for $975 per month, beginning Feb 1st. Nothing was paid today. (This happened on Jan 15)

accounting
Blanche invested $9800 in a savings account with a yearly interest rate of 2% for 15 years. How much simple interest did she earn?

Accounting
On the balance sheet under current assets there is an amount called Accounts receivables less allowances. Does it mean its already the net accounts receivable? or do i have to subtract it to get the net?

Principles of Accounting
Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $24,000 and credit terms of 3/10, n/60. Prepare entries that the buyer should record for the purchase

accounting 100
Moteki Company accumulates the following adjustment data at December 31 Indicate the type of adjustment (prepaid expenses, accrued revenues and so on), and the status of accounts before adjustment (overstated or understated). (Enter answers in alphabetical order.) Supplies of...

Accounting
Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions.

managerial accounting
Equipment reported in the December 31, 2013, balance sheet was purchased in January 2013. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January...

accounting
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013.

accounting
A company purchased and installed a machine on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The machine was disposed of on July 1 of the fourth year. The company uses the ...

accounting
Accrued salaries 1 Bill’s Company Partial Worksheet For the Year Ended December 31st, 2012 Account Titles Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Merchandise Inv. 16 Store Supplies 10 Store Equipment 20 Accum. Depr. Store Equip...

Managerial Accounting
I have a homework problem that asks me to do the following: 1. Prepare a schedule of total cash collections for October through December. 2. Prepare a schedule of total cash disbursements for October through December. 3. Prepare a cash budget for October through December. I ...

accounting
Jesper Parnevik borrowed $70,000 on March 1, 2012. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2022. To retire this debt, Alex plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2017, and for the ...

accounting
Hamilton Company owns 51,600 of Hennie Company's 120,000 outstanding shares of common stock. Hennie Company pays $33,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:

Accounting Please help me
Bethany Link delivers parts for several local auto parts stores. She charges clients $0.75 per mile driven. She has determined that if she drives 2,100 miles in a month, her average operating cost is $0.55 per mile. If Bethany drives 4,200 miles in a month, her average ...

Accounting 5
Bethany Link delivers parts for several local auto parts stores. She charges clients $0.75 per mile driven. She has determined that if she drives 2,100 miles in a month, her average operating cost is $0.55 per mile. If Bethany drives 4,200 miles in a month, her average ...

Accounting
Anheuser-Busch InBev Companies, Inc reported the following operating information for a recent year. In addition assume that Anheuser-Busch InBev sold 200 million barrels of beer during the year. Assume that variable costs were 75% of the cost of goods sold and 40% of selling, ...

accounting
Pike Corporation paid $100,000 for a 10% interest in Salmon Corp. on January 1, 2010, when Salmon's stockholders' equity consisted of $800,000 of $10 par value common stock and $200,000 retained earnings. On December 31, 2011, after receipt of the year's dividends from Salmon...

Accounting
During the year, Shor Company issued several series of bonds. For each bond, record the journal entry that must be made upon the issuance date. (Round to the nearest dollar; a calculator is needed for 2 and 3.) On January 20, a series of 15-year, $1,000 par value bonds with ...

Accounting
On January 1, you will purchase a new car. The automobile dealer will allow you to make increasing annual December 31 payments over the following four years. The amounts of these payments are $4,000: $4,500: $5,000: $6,000. On the same January 1, your mother will lend you just...

Accounting
An increase or decrease in accounts payable during a fiscal period has no effect on the net cash provided by operating activities.

accounting
Wallace Inc., a developer of radiology equipment, has stock outstanding as follows: 30,000 shares of cumulative preferred 2% stock, $90 par and 125,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: ...

accounting
Swan Creek Company has 40,000 shares of cumulative preferred 2% stock, $60 par and 50,000 shares of $50 par common stock. The following amounts were distributed as dividends:year 1 30000 my answer was 18000 common stock

Accounting
Dr. Rees: Ruth, good to see you again. Why didn’t you call me when you were in Denver? We could have had dinner together. Dr. Turner: Actually, I never made it to Denver this year. My husband and kids went up to our Vail condo twice, but I got stuck in Fort Lauderdale. I ...

Accounting
1. Compute the estimated uncollectible accounts at the end of the year using the following rates: Current 1% 1–30 days past due 3% 31–60 days past due 9% Over 60 days past due 25% 2. As of December 31, 2013, there is a credit balance of $208.20 in Allowance for Doubtful ...

Accounting
Ultra Leather Products sells leather clothing at both wholesale and retail. The company has found that there is a higher rate of uncollectible accounts from retail credit sales than from wholesale credit sales. Ultra computes its estimated loss from uncollectible accounts at ...

Veterinarian assisted
1. In the __________, an animal patient's hair is clipped and its skin is scrubbed to prepare for surgery.  A. hospital ward  B. surgical suite  C. treatment area  D. grooming area  2. Supervision of the treatment area is usually the responsibility of the  A. veterinary ...

Accounting
On March 1, 2013, the company lent a supplier $23,000 and a note was signed requiring principal and interest at 9% to be paid on February 28, 2014. If the journal entries are intrest recievable intrest revenue how much should I allocate to each section?

business
Describe the components of the accounting conceptual framework?

microeconomics
Using MS Excel or a table in MS Word, complete Table-1 (Joseph Farms, Inc., Cost and Revenue Data). Assume that the price is $165. Assume the fixed costs are $125, at an output level of 1. Assume that the data represents a firm in pure competition. Show your calculations. ...

accounting
. Preference Decisions: NPV vs. IRR vs. Profitability Index Stephens Industries is contemplating four projects: Project P, Project Q, Project R, and Project S. The capital costs and estimated after- tax net cash flows of each project are shown in the table that follows. ...

Accounting 10 PLEASE HELP ME!
Oscar Corp. applies manufacturing overhead to production at 150% of direct labor cost. During 20x5, manufacturing overhead of $180,000 was applied to production; actual manufacturing overhead was $199,000. Beginning Work in Process Inventory was $20,000 and ending Work in ...

Accounting 9
The following information is available for Baker Industries: Cost of goods manufactured $320,000 Beginning finished goods inventory $45,000 Ending finished goods inventory $35,000 Compute the cost of goods sold.

Accounting 8
The following information is available for Walker Industries: Beginning work in process inventory $30,000 Ending work in process inventory $25,000 Cost of goods manufactured $180,000 Compute total current manufacturing cost?

Accounting 3
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts $350,000 Factory machinery depreciation $55,000 Factory supervisor ...

Accounting 2 PLEASE HELP ME!
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,...

Stats
You have many old textbooks in your apartment. You have 6 math books, 7 econ, and 4 accounting. Assume that each textbook is different than the other. A) What is the probability that the last book is one of the economic textbooks? B) What is the probability that none of the ...

Accounting 9
The following information is available for Baker Industries: Cost of goods manufactured $320,000 Beginning finished goods inventory $45,000 Ending finished goods inventory $35,000 Compute the cost of goods sold.

Accounting 8
The following information is available for Walker Industries: Beginning work in process inventory $30,000 Ending work in process inventory $25,000 Cost of goods manufactured $180,000 Compute total current manufacturing cost?

Accounting 7
Job 31 has a direct materials cost of $300 and a total manufacturing cost of $900. Overhead is applied to jobs at a rate of 200 percent of direct labor cost. Use the relationships among total manufacturing costs, conversion cost, and prime cost to determine the following costs...

Accounting 3
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts $350,000 Factory machinery depreciation $55,000 Factory supervisor ...

Accounting 2
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,...

Accounting 10
Oscar Corp. applies manufacturing overhead to production at 150% of direct labor cost. During 20x5, manufacturing overhead of $180,000 was applied to production; actual manufacturing overhead was $199,000. Beginning Work in Process Inventory was $20,000 and ending Work in ...

Accounting 9
The following information is available for Baker Industries: Cost of goods manufactured $320,000 Beginning finished goods inventory $45,000 Ending finished goods inventory $35,000 Compute the cost of goods sold.

Accounting 8
The following information is available for Walker Industries: Beginning work in process inventory $30,000 Ending work in process inventory $25,000 Cost of goods manufactured $180,000 Compute total current manufacturing cost?

Accounting 7
Job 31 has a direct materials cost of $300 and a total manufacturing cost of $900. Overhead is applied to jobs at a rate of 200 percent of direct labor cost. Use the relationships among total manufacturing costs, conversion cost, and prime cost to determine the following costs...

Accounting 3
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts $350,000 Factory machinery depreciation $55,000 Factory supervisor ...

Accounting 2
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,...

Accounting 1
Oscar Corp. applies manufacturing overhead to production at 150% of direct labor cost. During 20x5, manufacturing overhead of $180,000 was applied to production; actual manufacturing overhead was $199,000. Beginning Work in Process Inventory was $20,000 and ending Work in ...

Accounting 200
Accounting professionals must sometimes choose between two or more acceptable methods of accounting for business transactions and events. Explain and discuss why these situations can involve difficult matters of ethical concern.

Accounting - General
Should a capital asset that is increasing in value be depreciated?

Math
Randi takes the stairs at work whenever possible instead of the elevator. She must climb up 51 steps from her office to get to the accounting department. The human resources department is 34 steps below her office. How many steps are there between human resources and accounting?

Accounting/Math/Exchange rates
1. Indicate how each of the following international transactions is entered into the U.S. balance of payments with double-entry bookkeeping: a. A U.S. resident imports $500 worth of merchandise from a U.K. resident and agrees to pay in three months. b. After the three months, ...

Accounting 1
Match each of the following characteristics that describe financial accounting, managerial accounting, both financial and managerial accounting, or neither financial nor managerial accounting. A. Financial accounting B. Managerial accounting C. Both financial and managerial ...

Accounting 2
Match each of the following steps that took place as Books on Wheels moved through the decision making, production, marketing, and sale of The Campus Cart with the correct phase of the management process: planning/organizing, directing/leading, and controlling. A. Planning/...

Accounting 7
coteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy’s costs for the most recent month. Depreciation on factory equipment $800 Depreciation on CEO's company car $100 Speakers used in the keyboard $1,...

Accounting 7
Noteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy’s costs for the most recent month. Depreciation on factory equipment $800 Depreciation on CEO's company car $100 Speakers used in the keyboard $1,...

Accounting 2
Match each of the following steps that took place as Books on Wheels moved through the decision making, production, marketing, and sale of The Campus Cart with the correct phase of the management process: planning/organizing, directing/leading, and controlling. A. Planning/...

Accounting 1
Match each of the following characteristics that describe financial accounting, managerial accounting, both financial and managerial accounting, or neither financial nor managerial accounting. A. Financial accounting B. Managerial accounting C. Both financial and managerial ...

accounting II
Archie's had sales of $6,758. The state sales tax rate is 7%. All sales are cash. What amount will be debited to Cash?

accounting II
A company has $314,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The allowance for doubtful accounts now has a $1,890 debit balance. If the company estimates that $8,160 of accounts will be uncollectible based on an aging of ...

Accounting
What is the journal entry for a $10,000 deposit in exchange for $10,000 worth of common stock ? Would I name that account common stock or cash ? Thanks!

accounting II
Janice Janitorial Supplies has cash of $28,000; net accounts receivable of $33,500; short-term investments of $6,000 and inventory of $20,000. It also has $22,500 in current liabilities and $37,500 in long-term liabilities. The current ratio for Janice Janitorial Supplies is:

accounting II
Joshua owns an apartment complex with 7 tenants. Each unit rents for $1,500 per month. At the end of April, three tenants were past due on paying their rent. Which of the following represents the correct adjusting journal entry Matt should make at the end of April?

accounting
Westchase Supplies reported sales of $5,000,000, cost of goods sold of $3,200,000, operating expenses of $1,400,000 and income tax expense of $160,000 for the year What was the company’s net income for the year?

BASIC ACCOUNTING
paid two months rent deposit and one month advance, P40,500

Pre Med Major
Hi. I am an accounting major. Is there anyway I can finish my accounting degree and still finish the pre med requirements in 4 years? Can an Accounting major become a MD? I know about MCAT and everything.

Accounting
On October 10, 2010, Mason Engineering Company completed negotiations on a contract for the purchase of new equipment. Under the terms of the agreement, the equipment may be purchased now or Mason may wait until January 10, 2011, to make the purchase. The cost of the equipment...

accounting
The charter of the corporation authorized 500,000 shares of $5 par common stock, and 50,000 shares of $40 par, 3%, preferred stock. As of January 1, 2014, there were 20,000 shares of common stock issued and outstanding and 4,000 shares of preferred stock issued and outstanding...

cOLLEGE mAJORS
ACCOUNTING VS IT WHICH IS HARDER? WHICH IS EASIER?

accounting
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2013, at a total cash price of $820,000 for a building, land, land improvements, and four vehicles. The estimated market...

Human Resources
3. Design a Pilot Test. Following are descriptions of three situations in which a test has been developed. Read each situation and then design a pilot test. Answer the following questions about the pilot test: a. Who will take the test? b. What information will you gather, and...

economics,accounting,business studies and mathslit
Does i qualify to work at postoffice?

accounting
A city is served by two newspapers—the Tribune and the Daily News. Each Sunday reader purchases one of the newspapers at a stand. The following transition matrix contains the probabilities of a customer’s buying a particular newspaper in a week, given the newspaper ...

logic crtical thinking
Explain why it is important to analyze each financial transaction of a business and to report it in the Accounting Information System.

Accounting
If the net income is $50000, and the cost of goods sold is $450000. the company's gross profit rate is 40% what are the net sales??

ACCOUNTING ASSIGNMENT
case from : ACCOUNTING FRAUD WORLDCOM There will be a (7) seven page report,excluding figures, tables, appendices, and references,required for the term paper. The written report must be typed, single sided, and 1.5 lines-spaced. The following items and additional questions ...

accounting
A partner withdrew Rs.2000 at the beginning of every month.the rate of interest on drawings is 10%per annum. What is the amt. of interest?

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Homework Help: Business

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