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Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting
Peck Company The Peck Company reported the following items on its financial statements for the year ending December 31, 2010. Sales - $1,560,000 Cost of Sales - $1,400,000 Selling, general and administrative expense - 40,000 Other Expense - 30,000 Dividends - 10,000 Income Tax...
Sunday, September 23, 2012 at 3:28pm

accounting
Salt River Copmany is evaluating a capital expenditure propsal that has the following predicted cash flows: Intial investment $(43,270) Operation Year 1 20,000 Year 2 30,000 Year 3 10,000 Salvage 0 a. Using a discount rate of 14 percent, determine the net present value of the ...
Friday, September 21, 2012 at 11:43pm

accounting
Salt River Copmany is evaluating a capital expenditure propsal that has the following predicted cash flows: Intial investment $(43,270) Operation Year 1 20,000 Year 2 30,000 Year 3 10,000 Salvage 0 a. Using a discount rate of 14 percent, determine the net present value of the ...
Friday, September 21, 2012 at 11:40pm

Accounting
A $15 credit to Sales was posted as a $150 credit. By what amount is Sales in error? my answer is $135 overstated
Friday, September 21, 2012 at 8:06pm

accounting
The journal entry to record the withdrawal of cash by Sue Snow, the owner, to pay a personal utility bill would include a debit to __________ and a credit to __________.
Friday, September 21, 2012 at 11:20am

Accounting
Calculate variable cost variances—explain results The standards for one case of Springfever Tonic are: Direct materials . . . . . . . . . . . . . . . . . . 8 lbs. @ $3.00/lb. = $24 Direct labor . . . . . . . . . . . . . . . . . . . . . 6 hrs. @ $1 0.00/hr. = 60 Variable ...
Thursday, September 20, 2012 at 9:22pm

Accounting
In a trial balance there are amounts in the debit side and credit side. How do i know which one is debtors or creditors? Returns are on both debit and credit side. Which one is Return Inwards?
Thursday, September 20, 2012 at 3:10pm

accounting
what affect can the incorrect intentional or unintentional posting, journalizing and reporting of financial data have on a company, an accountant or a company's stakeholders?
Wednesday, September 19, 2012 at 10:52pm

accounting
Worthington Company issued $1,000,000 face value , six-year, 10% bond on July 1, 2010, when the market rate of interest was 12%. Interest payments are due every July 1, and January 1. Worthington uses a calendar year-end. 1. Prepare the journal entry to record the issuance of ...
Wednesday, September 19, 2012 at 1:03pm

accounting
. For each of the following cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2011. (Assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance of work are initially ...
Sunday, September 16, 2012 at 9:22pm

Accounting
. Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance: _____ $20 in service charges _____ A $300 check deposited that was returned NSF ...
Sunday, September 16, 2012 at 3:59pm

accounting
if i invest in municipal bonds that earn 5% interset or in taxable bonds issued by pepsi that pay 11% what is the tax rate at 15% and 30%; and what tax rate would there be indifferent between the bonds
Saturday, September 15, 2012 at 10:12am

Economics
Suppose that a tour bus business incurred implicit costs of $600,000 and explicit costs of $7 million in a specific year. If the firm sold 125,000 tours at $60 per person, its accounting: A) profits were $100,000 and its economic profits were $500,000. B) losses were $100,000 ...
Thursday, September 13, 2012 at 11:13pm

accounting
what are examples of liability
Tuesday, September 11, 2012 at 10:28pm

accounting
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 38,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $...
Saturday, September 8, 2012 at 7:05pm

accounting
Selected T-accounts for Rolm Company are given below for the just completed year: Raw Materials Manufacturing Overhead Bal. 1/1 31,000 Credits ? Debits 390,000 Credits ? Debits 420,000 Bal. 12/31 56,000 Work in Process Factory Wages Payable Bal. 1/1 73,000 Credits 710,000 ...
Saturday, September 8, 2012 at 5:05pm

accounting
The following cost data relate to the manufacturing activities of Black Company during the just completed year: Manufacturing overhead costs: Property taxes, factory $ 3,000 Utilities, factory 4,800 Indirect labor 9,900 Depreciation, factory 23,900 Insurance, factory 5,800 ...
Saturday, September 8, 2012 at 4:49pm

accounting
1. Sharon Kent is a realtor. She organized her business, called SK Realty, as a corporation on April 1, 2011. Sharon started the business by depositing $105,000 in cash into the business bank account and issued herself common stock. Consider the following facts as of April 30...
Friday, September 7, 2012 at 3:44pm

Accounting
Marcum Company was started in 2012 when it issued a note to borrow $6,200 cash. Write an accounting equation, and record the effects of the borrowing transaction under the appropriate general ledger account headings.
Wednesday, September 5, 2012 at 5:02pm

accounting
Davis Company was started on January 1, 2012. During the month of January, Davis earned $4,600 of revenue and incurred $3,000 of expense. Davis closes its books on December 31 of each year. Required a. Determine the balance in the Retained Earnings account as of January 31, ...
Wednesday, September 5, 2012 at 4:57pm

Accounting for Managers
Question 1 of 20 5.0 Points Which of the following products probably would be manufactured using a job order costing system? A. Paper B. Baseball cards C. Computer monitors D. Company business cards Reset Selection Mark for Review What's This? Question 2 of 20 5.0 Points ...
Wednesday, September 5, 2012 at 11:11am

Accounting for Managers
Question 11 of 20 5.0 Points Which of the following accurately describes a difference between job order and process costing systems? A. In job order costing systems, overhead costs are treated as product costs, whereas in process costing systems, overhead costs are treated as ...
Wednesday, September 5, 2012 at 11:10am

Accounting
Urquhart Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $100,000 and 3,600 estimated direct labor-hours. Actual ...
Wednesday, September 5, 2012 at 12:29am

Accounting for Managers
Question 1 of 20 5.0 Points In comparing management accounting with financial accounting, which of the following statements is FALSE? A. Management accounting is primarily used by managers, employees, and supply chain partners. B. The report format for financial accounting is ...
Tuesday, September 4, 2012 at 3:18am

Managerial Accounting
Sandusky Inc. has the following costs when producing 100,000 units: Variable Costs $400,000 Fixed Costs 600,000 An outside supplier is interested in producing the item for Sandusky. If the item is producing outside, Sandusky could use the released production facilities to make...
Tuesday, September 4, 2012 at 12:26am

accounting
The following information is related to the Lilliput Veterinary Clinic for April 2010, the firm's first month of operation: Compute the cost of services rendered.
Monday, September 3, 2012 at 10:36pm

accounting
If sold inventory had cost 1500 for 2750 on a account under terms 2y10, ny45
Monday, September 3, 2012 at 11:42am

Financial accounting 2
If a building cost $600,000, has an estimated residual value of $240,000, has an estimated life of 36 years, and is depreciated by the straight-line method: a) What is the annual depreciation? b) what is the book value at the end of the 20th year?
Monday, September 3, 2012 at 9:10am

Buisness Ethics
In all of the accounting scandals of the past decade, where were the auditors? Explain
Tuesday, August 28, 2012 at 7:16pm

Buisness Ethics
In all of the accounting scandals of the past decade, where were the auditors? Explain
Tuesday, August 28, 2012 at 7:05pm

accounting
Find the ending balance in an account that opens with $9,000, earns 4.5% interest compounded quarterly, and is held for 5 years. (Round your answer to the nearest cent.)
Sunday, August 26, 2012 at 4:47pm

accounting
A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5-year life its ...
Saturday, August 25, 2012 at 4:02pm

accounting
The City of Allentown recently received a donation of two items: A letter written in 1820 valued at $24,000 from James Allen and 1920 painting of the town's city hall, painting by same artist sold recently for $4,000.How do I do a journal capitalizing collectibles only ...
Saturday, August 25, 2012 at 12:05pm

Accounting
On July 1, 2011, ABC Grocers, Inc. purchased an investment in the 5 yr 10@ (stated rate) debt securities with a face value of $400,000 of Brighton Corporation, a publicly traded company. At the time of purchase the market interest rate for similar risk debt was 8%. Interest is...
Friday, August 24, 2012 at 9:23am

Accounting
Here is my question am I suppose to make journal entry. Cindy Lou makes $30,000 per year as an exempt employee. She worked 15 hours of overtime in the month of September. Payday for wages earned in the month of Septemberis October 7? Ignoring Federal and state income tax ...
Thursday, August 23, 2012 at 10:38pm

accounting
Kudos Leather Goods purchased the following items during the month of April: 1. April 12, 34 wallets @ $12.95 each 2. April 08, 24 wallets @ $13.10 each 3. April 18, 15 wallets @ $13.25 each 4. April 26, 20 wallets @ $13.27 each On April 1, the business had an inventory of 19 ...
Thursday, August 23, 2012 at 5:21pm

accounting
Kudos Leather Goods purchased the following items during the month of April: 1. April 12, 34 wallets @ $12.95 each 2. April 08, 24 wallets @ $13.10 each 3. April 18, 15 wallets @ $13.25 each 4. April 26, 20 wallets @ $13.27 each On April 1, the business had an inventory of 19 ...
Thursday, August 23, 2012 at 5:20pm

accounting
Determine the amount of interest expense that should be recorded in a year end adjusting entry under each of the following independent assumptions Interest rate 12%, Fiscal Year End December 31
Wednesday, August 22, 2012 at 4:44pm

Accounting
What is the purpose of financial statement analysis? What are some tools we might use to analyze financial performance? What might we use to benchmark our performance? Why?
Wednesday, August 22, 2012 at 11:13am

accounting
If the cost of, C(x), for manufacturing x units of a certain product is given by C(x)=x2-70x+4400, find the number of units manufactured at a cost of $7400?
Tuesday, August 21, 2012 at 9:27pm

Accounting
Q1). As the chief accountant of Breathless Perfume Pty ltd, you discover a significant misstatement that overstated net profit in this year’s financial statements. The misleading financial statements are contained in the company’s annual report, which is about to be ...
Sunday, August 19, 2012 at 8:37pm

accounting
acc 230 prepare a statement of cash flows for Little Bit Inc.
Saturday, August 11, 2012 at 2:23pm

Accounting
Hello I am not angry with you at all, however is there any way possible that you can help me with these two problems and we can call it even? Just let me know I am not trying to get over, however my computer had crashed and I am behind in class I purchased me a new laptop a ...
Friday, August 10, 2012 at 2:37pm

Accounting
Q1a: Complete Problem 14.1 on page 269 of the Collier text (solution is on page 501-502). Next work the problem again using the following variables: project yield annual net cash inflows are $10,500 for the next five years; interest rate of 16.5%, and the initial investment of...
Sunday, August 5, 2012 at 7:57pm

accounting
Accounting 103 ScrawnyOcean2290 asked Dominic Hunter, a second-year business student at the University of Utah, will graduate in two years with an accounting major and a Spanish minor. Hunter is trying to decide where to work this summer. He has two choices: work full-time for...
Sunday, August 5, 2012 at 7:49pm

accounting
explaintwo ways accounting data is used in abusiness decision
Friday, August 3, 2012 at 8:27am

Accounting
Identify whether each of the following items would appear on the income statement (IS), statement of changes in stockholders’ equity (SE), balance sheet (BS), or statement of cash flows (CF). Some items may appear on more than one statement; if so, identify all applicable...
Friday, August 3, 2012 at 1:49am

accounting
How do businesses determine what salvage values to use for their various assets? Are there “hard and fast” rules for salvage values?
Wednesday, August 1, 2012 at 4:59pm

Finance Accounting
Vanity Press, Inc., has annual credit sales of $1.6 million and a gross profit margin of 35 percent. a. If the firm wishes to maintain an average collection period of 50 days, what level of accounts receivable should it carry? (Assume a 365-day year.) b. The inventory turnover...
Tuesday, July 31, 2012 at 3:32pm

accounting
for a charity show the rate of adult passes Rs.20 more than the children pass.when a company sold 50 adult and 200 children passes,the amount collected is Rs.2250.find the price of an adult pass.
Tuesday, July 31, 2012 at 7:49am

accounting
Assume that a company purchases land for $100,000, paying $20,000 cash and borrowing the remainder with a long-term note payable. How should this transaction be reported on a statement of cash flows
Friday, July 27, 2012 at 6:02pm

system analysis and palnning
objective The Milestone Assignments are based on the Projects and Cases for use with the Systems Analysis and Design Methods textbook by Whitten & Bentley. There are six (6) parts to the Project, consisting of twelve (12) milestones. During Weeks 2-7, you will be required to ...
Thursday, July 26, 2012 at 11:07pm

accounting
The following information was made available from the income statement and balance sheet of Lauren Company. Item 12/31/10 12/31/09 Accounts Receivable $53,400 58,600 Accounts Payable 35,600 32,700 Merchandise Inventory 85,000 79,000 Sales (2010) 243,000 Interest Revenue (2010...
Wednesday, July 25, 2012 at 8:00am

accounting
1. Present entries to record the following summarized operations related to production for a company using a job order cost system: Please put a DR before your debits and and CR before credits and enter between each entry. (a) Materials purchased on account $167,000 (b) ...
Tuesday, July 24, 2012 at 7:54pm

accounting
Prepare a monthly Cash Budget in tabular form for the months of February, March and April; showing the bank balance at each month's end. Company Information and Background The following data is available from the various functional budgets prepared at Congo Limited. ...
Tuesday, July 24, 2012 at 7:17am

Accounting
I need some help with this question… It is confusing me… I have parts of it done but would like someone to help explain it to me. A truck was purchased on January 2 at a cost of $60,000. It’s expected to be used for five years and to have a residual value of $5,...
Tuesday, July 24, 2012 at 4:55am

Accounting 2301
For Capital, the category of account and its normal balance are: A. Assests and a debit balance B. Liabilities and a credit blance C. Owner's Equity and a credit balance D. Owner's equity and a debit balance
Monday, July 23, 2012 at 11:37am

accounting
On the balance sheet under equity there is a line item of undesignated equity under the equity section. What is that? I've never seen that before.
Sunday, July 22, 2012 at 9:23am

accounting
A company has an insurance policy for fifty thousand dollars that is due. How is this set up when the company does not pay it in full. It is paid monthly to an insurance premium company within one year. How do we set it up on the company books? There is a note to Premium ...
Sunday, July 22, 2012 at 8:18am

Healthcare Finance
Metropolis Health System has received a wellness grant from the charitable arm of an area electronics company. The grant will run for twenty-four months, beginning at the first of the next fiscal year. Two therapists and two registered nurses will each be spending half of ...
Wednesday, July 18, 2012 at 11:53am

tax accounting
to create a 10 yr term bond schedule with semi annual payments (principal is $10 million); stated interest rate is 8% and market rate is 6%-how would you do it
Tuesday, July 17, 2012 at 4:26pm

Financial Accounting
Jane Doe of Creative Marketing was recording transactions into the accounting records to prepare financial statements for the bank in a loan application. Her expenses were higher than anticipated and she was concerned about the effects on net income. As she was recording $3,...
Tuesday, July 17, 2012 at 12:56pm

Financial Accounting
Jane Doe of Creative Marketing was recording transactions into the accounting records to prepare financial statements for the bank in a loan application. Her expenses were higher than anticipated and she was concerned about the effects on net income. As she was recording $3,...
Tuesday, July 17, 2012 at 12:50pm

accounting
Shopping Center A Square foot: 3,500 Distance: 4 miles Shopping Center B Square foot: 1,500 Distance: 5 miles Shopping Center C Square foot: 300 Distance: 3 miles Use the Huff Gravity model to find the probability that customers will shop at shopping center A.
Monday, July 16, 2012 at 10:54pm

Finance Management
CASE STUDY 1 please read the continuing case at the end of Chapters 1 and 2 in your textbook. After studying the Chapter 1 case, respond to the following: 1.At which level do some of the basic functions (cost accounting, reporting tax, patient accounts and billing, accounts ...
Monday, July 16, 2012 at 11:11am

Accounting
Sierra Company is considering a long-term investment project called ZIP. ZIP will require an investment of $121,200. It will have a useful life of 4 years and no salvage value. Annual revenues would increase by $79,180, and annual expenses (excluding depreciation) would ...
Sunday, July 15, 2012 at 6:33pm

accounting 205
Net income for the year is $25,000. Withdrawals of $36,000 per were taken at the end of the year. Which of the following occurs? (Points : 1) The Capital account decreases by $22,000. The Capital account decreases by $11,000. The Capital account increases by $11,000. The ...
Sunday, July 15, 2012 at 4:28pm

Accounting, Finance
Do you have college accounting help also?
Sunday, July 15, 2012 at 9:10am

accounting
Partners Smith and Jones decide to close their business and share the profits equally. They sell the partnership's non-cash assets. The transactions for the sales are below: 1. The merchandise inventory, which cost $45,000, was sold for $38,000. 2. The office equipment, ...
Friday, July 13, 2012 at 10:50am

accounting
You have just purchased a house and have obtained a 30-year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? b. Assuming you bought the house on Jan. 1st, what is the principle balance after one year? c. After four years, ...
Wednesday, July 11, 2012 at 5:58pm

accounting
Olympic Sports Wear estimates its Annual Federal Income tax as $10,000. It has paid the tax in four installments of $2,500 each. However, at the end of the year, the actual tax amount is $11,200. Therefore, the company needs to pay $1,200 to the government. Instruction: ...
Tuesday, July 10, 2012 at 11:16am

Accounting
I have most of them done but would like to have these ones double checked... Please Help!!! 12. Research and development costs (R&D) are generally A. listed as "long-term assets" on the balance sheet. B. expensed and become part of the income statement. C. listed as...
Monday, July 9, 2012 at 8:46am

accounting 205
A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting equation? (Points : 1) This has no effect on assets, liabilities, or owner’s equity. Assets decrease; owner’s equity decreases. Assets increase; liabilities decrease. ...
Sunday, July 8, 2012 at 5:14pm

account (urgent!!pls help)
accounting question [prepare journal entries for the year end adjustment] A fire broke out in the office during the year. the insurance company agreed to pay compensation of $3000 to the company in December 2009.No entries for this compensation were made at the year end.This ...
Sunday, July 8, 2012 at 9:25am

accounting please help!
I have a total of 100 questions and am unsure about my answers to these ones 3. Margaret is a customer of Tammy Company. The company wrote off her account of $1,200 on August 15. On October 12, she sent in a payment of $560. What will Tammy Company record first to reinstate ...
Saturday, July 7, 2012 at 11:04am

Accounting concepts
Where can I find the GAAP used for a particular hospital. For example Patton-Fuller Community Hospital. I need to explain used in its financial statements
Friday, July 6, 2012 at 11:11am

Accounting
CollegePak Company produced and sold 60,000 backpacks during the year just ended at an average price of $20 per unit. Variable manufacturing costs were $8 per unit, and variable marketing costs were $4 per unit sold. Fixed costs amounted to $180,000 for manufacturing and $72,...
Wednesday, July 4, 2012 at 2:07pm

ashford
At the beginning of 2012, the Jeater Company had the following balances in its accounts: Cash $4,300 Inventory 9,000 Common Stock 10,000 Retained Earnings 3,300 During 2012, the economy experienced the following events: 1. Purchased inventory that cost $2,200 on account from ...
Monday, July 2, 2012 at 2:01pm

Accounting
A meeting of senior managers at the Pringly Division has been called to discuss the pricing strategy for a new product. Part of the discussion will focus on estimating sales for the new product. Over the past years, a number of new products have failed to meet their sales ...
Monday, July 2, 2012 at 11:06am

Accounting
If a client asks me to do a balance sheet for a given month, but they put a question mark beside Truck and Accounts Payable in the assests column..can I even do the balance sheet since these are part of the assests?
Sunday, July 1, 2012 at 11:57am

managerial Financial Accounting
EXERCISE 12-11. Evaluating Investment Centers with Residual Income [LO 6] Lakeside Hospital is a division of Superior Healthcare organized as an investment center. In the past year, the hospital reported an after-tax income of $2,500,000.Total interest expense was $1,900,000,...
Sunday, June 24, 2012 at 7:17pm

accounting please help!
I have most of them done but would like to have these ones double checked... Please Help!!! 2. The balance sheet format that lists assets above liabilities is the _______ form. A. alphabetical B. liquidity C. account D. report I said B 13. Nick Company reports the following ...
Sunday, June 24, 2012 at 2:33pm

introducing to accounting
After the closing entries are posted to the ledger, each revenue account will have a) zero balance. b)debit balance c) a credit balance d)either a debit or a credit balance. My answer is a) ,but I am not sure:)
Sunday, June 24, 2012 at 10:47am

introducing to accounting
After the closing entries are posted to the ledger, each revenue account will have a) zero balance. b)debit balance c) a credit balance d)either a debit or a credit balance. MY ANSWER IS D BUT I AM NOT SURE :)
Saturday, June 23, 2012 at 4:55pm

Accounting 2
Journalizing liability transaction. The following transactions of denver pharmacies occurred during 2011 and 2012. Louis Welch is general manager of United Tanning Salons. During 2012, Welch worked for the company all year at a $6,200 monthly salary. He also earned a year-end ...
Saturday, June 23, 2012 at 12:10pm

accounting
Central States Manufacturing produces a single product: Product 1222. The company has estimated that annual overhead expenses wll be $180,000 and production volume will be 20,000 units using 20,000 hours of labor. Overhead is applied to production based on assembly labor hours...
Friday, June 22, 2012 at 3:07pm

accounting
Plasto Products does not pay income taxes and has one owner Is this corporation, partnership or sole priortership
Thursday, June 21, 2012 at 5:36pm

Managerial Accounting
The following information was drawn from the year-end blance sheet of Desoto Company: Account Title` 2012 2011 Investment securities $35,500 $30,000 Equipment 235,000 220,000 Buildings 845,000 962,000 Land 80,000 69,000 Additional Information regarding transactions occurring ...
Wednesday, June 20, 2012 at 1:11pm

accounting
Assume the $10,000 Treasury bill, 4% for 13 weeks. Calculate the effective rate of interest.(Use calendar year. Round your answer to 2 decimal places. Omit the "%" sign in your response.)
Monday, June 18, 2012 at 10:06pm

intermediate accounting
explain impotnce of review of accounting cycle
Monday, June 18, 2012 at 11:08am

Mergers and Acquisitions
Fair value determination of goodwill and calculating the premium paid over market value in a merger: Using fair value accounting for goodwill, under FAS 141R, determine the amount of Goodwill that "the acquiring company" enters on its balance sheet in the following ...
Sunday, June 17, 2012 at 5:11pm

acc/291
I can write the paper I just need some ideas of a situation that might lead to unethical pratices and behaviors in accounting? but not eron I'm sure everyone else is doing that one this is why I need some idea's help please thank you.
Saturday, June 16, 2012 at 1:30pm

Management Accounting
Subtask 3b: The Antigua Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of Antigua. The Blood Bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit ...
Friday, June 15, 2012 at 12:44pm

accounting
kathy burnett works for trinity industries. Her pay rate is 12.84 per hour and receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31,2013, Kathy worked 48 hours. Kathy is ...
Friday, June 15, 2012 at 12:38pm

accounting
kathy burnett works for trinity industries. Her pay rate is 12.84 per hour and receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31,2013, Kathy worked 48 hours. Kathy is ...
Friday, June 15, 2012 at 12:11pm

Forensics, Accounting
Which would be the least effective procedure for preventing procurement fraud? Confirming Inventory Creating an approved vendor list Reviewing monthly bank reconciliations Separating job responsibilities Looking for cliques
Thursday, June 14, 2012 at 10:22pm

Accounting
I need help in working this problem...please help... Gaines Company recently initiated a post audit program. To motivate employees to take the program seriously, Gaines established a bonus program.Managers receive a bonus equal to 10 percent of the amount by which actual net ...
Thursday, June 14, 2012 at 9:05pm

Accounting
I am trying to figure out how to do this problem: scenarios (projected $90,000 annual cash inflow vs. projected $70,000 annual cash inflow). Note, 5 years of $90,000 per year equals $450,000 of total cash received over the duration of the project ($350,000 for 2nd project). ...
Thursday, June 14, 2012 at 8:41pm

Accounting
What account class would cash prize payment be under? A. Operating expense B. Cost of Goods Sold C. Asset D. Expense E. Liability I'm stuck between A, B, D. Help. thanks.
Thursday, June 14, 2012 at 2:06pm

accounting
E15-7 Bennis Company has the following comparative balance sheet data. BENNIS COMPANY Balance Sheets December 31 2009 2008 Cash $ 15,000 $ 30,000 Receivables (net) 70,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000 180,000 $345,000 $320,000 Accounts payable $...
Sunday, June 10, 2012 at 10:39pm

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