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September 18, 2014

Homework Help: Business: Accounting

Recent Homework Questions About Accounting

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Accounting
You own a gas pipeline that requires no maintenance and will produce $2 million of revenue next year. Unfortunately, the volume of gas is expected to decline by 4.0% per year. a.If the discount rate is 11.0% and the pipeline lasts forever, what is it worth today? b.If the ...
Sunday, May 27, 2012 at 4:05am

Accounting
6. Suppose NPI’s reinvestment rate on all future retained earnings were 12% instead of the 16% assumed in the previous problem. (Continue to assume initial earnings of $16 million.) If the dividend payout ratio were increased to 0.75, what happens to the growth rate and ...
Sunday, May 27, 2012 at 4:04am

Accounting
What s an excess of expense over revenue called?
Saturday, May 26, 2012 at 12:57pm

Business HELP!!!
This is a 100 question hw sheet and I have answered all but i am unsure about a few please help!!! 8. Which of the following statements about when the Fed increases the reserve requirement is correct? A. Interest rates go down. B. Banks have more money to lend. C. Inflation ...
Friday, May 25, 2012 at 3:35am

Business
This is a 100 question hw sheet and I have answered all but i am unsure about a few please help!!! 8. Which of the following statements about when the Fed increases the reserve requirement is correct? A. Interest rates go down. B. Banks have more money to lend. C. Inflation ...
Thursday, May 24, 2012 at 3:08pm

Business Accounting
This is a 100 question hw sheet and I have answered all but i am unsure about a few please help!!! 8. Which of the following statements about when the Fed increases the reserve requirement is correct? A. Interest rates go down. B. Banks have more money to lend. C. Inflation ...
Thursday, May 24, 2012 at 1:46pm

Business Accounting
Which of the following statements about the money invested in a traditional IRA account is correct? A. It isn’t taxed until it’s withdrawn. B. It’s subject to double taxation. C. It’s taxed as you make deposits. D. It isn’t taxed.
Thursday, May 24, 2012 at 8:18am

Accounting
Susan Kline works for Trend Press, a fairly large book publishing firm. Her best friend and rival, Lisa, works for Silver Books, a smaller publisher. Both companies issue $100,000 in bonds on July 1. Trend's bonds were issued at a discount, while Silver's were issued ...
Tuesday, May 22, 2012 at 2:14pm

accounting
What sources are reliably used to estimate an asset's useful life?
Friday, May 18, 2012 at 4:37pm

accounting
What is included in the cost basis of a long-lived asset? Explain for at least two types of such assets.
Friday, May 18, 2012 at 4:34pm

Accounting
Prepare the income statement of Draper Consulting for the month ended Deceomber 31, 2012
Tuesday, May 15, 2012 at 6:17pm

accounting
how do i close a partial worksheet for Walter Searing, for month-end and post closing trial balnce.
Monday, May 14, 2012 at 5:21pm

Accounting
The ranking of project differs, depending on the use of IRR or NPV measures. Which project should be selected? Why is the IRR ranking misleading?
Monday, May 14, 2012 at 3:15pm

economics
Movie attendance dropped 8 percent as tick prices rose a little more than 5 percent. What is the price elasticity of demand for movie tickets? Could price elasticity be some-what overestimated from these figures? That is, could other things have changed, accounting for some of...
Saturday, May 12, 2012 at 2:05pm

accounting
1.On December 15, 2012, Pascal declared a cash dividend of $2.00 per share to stockholders of record on December 31. The dividend is payable on January 15, 2013. Pascal has issued 1,000,000 shares of common stock, of which 50,000 shares are held in treasury. 2.At December 31, ...
Saturday, May 12, 2012 at 12:24am

Programming with Eclipse
Design, implement, test, and debug an application to compute an employee’s weekly pay. If the employee works more than 40 hours a week, the employee earns 1.5 times the basic hourly pay for any time worked over 40 hours. The program should allow the user to input the ...
Thursday, May 10, 2012 at 5:29pm

Managerial Accounting
The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer’s payroll taxes for the factory payroll are $8,000. The fringe benefits to be paid by the employer on this payroll are $6,000. Of the total accumulated cost ...
Wednesday, May 9, 2012 at 2:05pm

Accounting
How to perpera the accounts of the company and cash flow statement
Monday, May 7, 2012 at 2:17pm

Microeconomics
3. Suppose that a business incurred implicit costs of $500,000 and explicit costs of $6 million in a specific year. If the firm sold 100,000 units of its output at $60 per unit, its accounting: A) profits were $100,000 and its economic profits were zero. B) losses were $500,...
Monday, May 7, 2012 at 1:15pm

accounting
Moreno Industries has adopted the following production budget for the first 4 months of 2013. Month Units Month Units January 10,000 March 5,000 February 8,000 April 4,000 Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2012, the ending raw ...
Monday, May 7, 2012 at 1:01pm

accounting
what is the MIRR of cash flows of -900, 820,400,510,-180,and 200 at the rate of 16%?
Sunday, May 6, 2012 at 1:37pm

financial accounting
If a $6,000, 10%, 10-year bond was issued at 104 on October 1, 2011, how much interest will accrue on December 31 if interest payments are made annually
Saturday, May 5, 2012 at 10:02am

accounting
On January 1, 2008 Touring company agreed to buy some equipment from Jones Company. Touring company signed a note,agreeing to pay Jones company $500,000 for the equipment on December 31, 2010. The market rate of interest for this note was 10%. a. Prepare the journal entry ...
Wednesday, May 2, 2012 at 10:30pm

Accounting
Spencer Company manufactures and sells three products. Relevant per unit data concerning each product are given below. Product A B C Selling price $9 $12 $14 Variable costs and expenses $3 $9.50 $12 Machine hours to produce 2 1 2 Compute the contribution margin per unit of the...
Monday, April 30, 2012 at 5:53pm

Accounting
Imagen Arquitectonica of Tijuana, Mexico is contemplating a major change in its cost structure. Currently, all of its drafting work is performed by skilled draftsmen. Alfredo Ayala, Imagen's owner, is considering replacing the draftsmen with a computerized drafting system...
Monday, April 30, 2012 at 5:51pm

Accounting
E6-9 (a,b) Tiger Golf Accessories sells golf shoes, gloves, and a laser-guided range-finder that measures distance. Shown below are unit cost and sales data. Pairs of Shoes Pairs of Gloves Range Finder Unit sales price $100 $30 $250 Unit variable costs 60 10 200 Unit ...
Monday, April 30, 2012 at 5:49pm

acc202managerial accounting
need help with problems 16-16, 16-17 and 16-18.
Monday, April 30, 2012 at 11:51am

Manigerial Accounting
This is an extra credit assignment I was assigned that I really need the points for. I am having alot of trouble with it. I did a few of the questions but im not sure if they are right or not and I dont know how to do a few. For number 1 (Listed below) Payback = $46 million/$4...
Sunday, April 29, 2012 at 8:28pm

Accounting
T/F Questions The main reason that the bank statement cash balance and the company's cash balance do not initially balance is due to timing differences. Sales Discounts is a revenue account with a credit balance. Multiple Choice: Assuming a 360-day year, proceeds of $48,...
Saturday, April 28, 2012 at 6:55pm

Marketing
Managerial accounting is
Saturday, April 28, 2012 at 4:26pm

Accounting
Big Company purchased a machine on February 1, 2013, and will make seven semiannual payments of $26,000 beginning five years from the date of purchase. The interest rate will be 12%, compounded semiannually. Determine the purchase price of the machine.
Thursday, April 26, 2012 at 9:07am

Accounting
When finding the break even point, I know that total fixed costs/contribution margin= Break Even Point, but is that answer in dollars? How do you find the sales volume (dollars) that need to be produced in order to break even? How do you find the required amount of hours that ...
Wednesday, April 25, 2012 at 12:50am

Accounting
I have to create a contribution margin income statement (per unit) and need to determine how many burgers per hour I think the chef can make, so I can get the Direct Labor cost per burger. How do I find the Direct Labor cost, and where would that be located on a contribution ...
Wednesday, April 25, 2012 at 12:44am

College Accounting
How do the entries affect account balances and why both debit and credit entries can increase or decrease an account balance?
Tuesday, April 24, 2012 at 10:09pm

Accounting
Questions 1. What is the issuing price for bonds A and B respectively? Show your calculations. 2. For bond A, provide the journal entries for • the issuance of bond, and • the first three interest payments. Please write down the date for each journal entry. Show your...
Monday, April 23, 2012 at 5:45pm

accounting
The market interest rate for Christian Charities is 8% on January 1, 2008. On that day, Christian Charities issued the following bonds. A. $500,000 7-year 7% bond B. $300,000 10-year 9% bond For both bonds, interest is paid semiannually on June 30 and December 31 each year up ...
Monday, April 23, 2012 at 5:40pm

accounting
examples from the manufacturing industry of: o a journal entry that would be recorded that impacts the balance sheet
Monday, April 23, 2012 at 11:15am

Health
Jennifer is fifty-four. Her husband Brian died suddenly in a care crash. Not only was she emotionally distraught, but she found herself in serious financial turmoil. Brian had handled the finances (at least she had thought he had) throughout their 21 year marriage. Upon his ...
Sunday, April 22, 2012 at 11:51pm

Accounting
1.state ten users of accounting information and show their intrest 2. Enlimurate eight qualities that accounting information must poses. 3. Itemize at least eight roles of accounting in any organisation.,
Sunday, April 22, 2012 at 5:17pm

Accounting
1.state ten users of accounting information and show their intrest 2. Enlimurate eight qualities that accounting information must poses. 3. Itemize at least eight roles of accounting in any organisation.,
Sunday, April 22, 2012 at 5:05pm

Accounting
State ten users of accounting iformation and show their intrest 2 enumurate eighth qualities that accounting information must posses 3. Itemize at least eight rules of accounting in any organisation.
Sunday, April 22, 2012 at 2:16pm

Accounting
1. Partially Correct Check My Work Problem-Solving Strategy Problem 16-1 (Algorithmic) Statement of Cash Flows—Indirect Method The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2013 and 2012, is shown as follows: Dec. 31, 2013 Dec. 31, 2012 ...
Saturday, April 21, 2012 at 2:45pm

Accounting
What types of cost information are reported to support managerial purposes and decisions? Describe 2 major categories of purposes that are supported by cost information. Describe how cost information supports both of these categories. What is a cost object and how is it used ...
Saturday, April 21, 2012 at 10:35am

Accounting
Please prepare the following journal entries. Indicate which account should be debited and which account should be credited along with the dollar amount of the debit and credit. a) Investors invested $100,000 in exchange for 10,000 shares of common stock. b) Company paid a ...
Thursday, April 19, 2012 at 9:29pm

english
what are the five reasons why knowlegde of english language registers is important in accounting and finance?
Wednesday, April 18, 2012 at 6:22pm

accounting
what are the five sentences about why you think knowledge of english language registers will be important in accounting and finance?
Wednesday, April 18, 2012 at 6:17pm

english
what are the five sentences about why you think knowledge of english language registers will be important in accounting and finance?
Wednesday, April 18, 2012 at 5:43pm

Accounting HELPPPP
Jim Johnson has 40% interest in Richards and Johnson, LLP. The partnership has the following activity for the year: Sales $180,000 Cost of Goods Sold 105,000 Guaranteed Payment to Ron Richards 25,000 Depreciation 11,000 Interest Expense 1,000 Tax-Exempt Income 1,500 Health ...
Wednesday, April 18, 2012 at 3:37pm

accounting
Complete the work sheet. In completing the worksheet, compute State of Illinois corporate income taxes at 41/2% of pretax income. The state income tax is deductible on the federal tax return, and the federal tax is not deductible on the Illinois return. Assume federal ...
Wednesday, April 18, 2012 at 1:55am

accounting
Question: Because Aqua Elite, Inc. is a new startup business, the beginning balances in all the general ledger accounts are zero to start. n The length of the accounting periods are three months using a fiscal calendar year. (A fiscal calendar is on a yearly basis other than a...
Monday, April 16, 2012 at 8:03pm

accounting
Last year Angela used her 60% margin account and purchased 100 shares of stock at a price of $33 a share. Today she sold this stock for $36 a share. Angela paid a total of $70 in margin interest for the year. Ignoring transaction costs, what rate of return did Angela earn on ...
Saturday, April 14, 2012 at 7:40am

Accounting
At the beginning of April, Owl Corporation has a balance of $12,000 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $7,500. 3. ...
Friday, April 13, 2012 at 6:31pm

Accounting
Identify whether each description best applies to a periodic or a perpetual inventory system. a. Provides more timely information to managers. b. Requires an adjusting entry to record inventory shrinkage. c. Markedly increased in frequency and popularity in business within the...
Wednesday, April 11, 2012 at 3:20pm

Accounting
Our company bought the fully-depreciated personal car of our General manager. What is the proper and correct journal entry?
Wednesday, April 11, 2012 at 3:56am

accounting
Discuss the ethics of what Amy is doing. Are there any consequences to her actions? How does the store account for Amy’s returns?
Tuesday, April 10, 2012 at 10:41pm

accounting
What items appear in financial statements of merchandising companies that do not appear in the financial statements of service companies? Why is there a difference?
Tuesday, April 10, 2012 at 10:25pm

Accounting
$10,000,000 face value, zero coupon bonds due in 20 years, priced on the market to yield 8% compounded semiannually.
Tuesday, April 10, 2012 at 9:08pm

accounting
In order for companies to prepare and issue financial statements, their accounting equations (debits and credits) must be in balance at year end. Discuss how errors and misstatements may occur given this requirement. Bookkeeping is largely done today using a computer and ...
Monday, April 9, 2012 at 4:51pm

accounting
which one of the following contingencies must be accrued on the balance sheet
Sunday, April 8, 2012 at 12:49pm

bookkeeping
what is the accounting system where you record revenue when the business earns it,and expenses at the time the business incurs them? (a)cash (b)GAAP (c)accrual (d)COGS my answer is c what is the time period called from the time the business opens to the last day of the twelfth...
Friday, April 6, 2012 at 10:35am

bookkeeping
suppose your business caters a party august 23.according to the contract ,your client will pay the 2500 bill on september 1.using the accrual basis of accounting ,how would you record the transaction? (a)on august 23,debit accounts receivable 2500 and credit revenue2500 (b)on ...
Friday, April 6, 2012 at 10:24am

accounting
Nature’s Way, Inc., keeps one of its production facilities busy making a perfume called Essence de la Vache. The perfume goes through two processing departments: Blending and Bottling. The following incomplete Work in Process account is provided for the Blending ...
Wednesday, April 4, 2012 at 2:46am

accounting
Posson Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $210 per month plus $96 per job plus $20 per meal. A typical job involves serving a number of meals to guests ...
Tuesday, April 3, 2012 at 6:43pm

Accounting
Identify each statement as true or false. If false, indicate how to correct the statement. 1. Depreciation is a process of asset valuation, not cost allocation. 2. Depreciation provides for the proper matching of expenses with revenues. 3. The book value of a plant asset ...
Monday, April 2, 2012 at 10:30pm

Accounting
Presented below are selected financial statement items for Rowe Corporation for December 31, 2012. Inventory $55,000 Cash paid to purchase equipment $30,000 Cash paid to suppliers 154,000 Equipment 40,000 Buildings 400,000 Revenues 200,000 Common stock 20,000 Cash received ...
Monday, April 2, 2012 at 12:55pm

Accounting
A woman would like to open a store in 8 years. She figures she will need 50,000 in capital to do so. She will make 10% on her money. a. How much would she need to invest today in one lump sum to end up with 50000 in 8 years? I got 23,325.25 b. if she's starting from ...
Sunday, April 1, 2012 at 10:44pm

English
I urgently need you to help me,write five sentences about why you think knowledge of English language registers will be important in accounting and finance.
Saturday, March 31, 2012 at 7:44am

Accounting
Store equipment is purchased on January 1, 2002 at a cost of $14,000 and $1,000 was spent on its installation. The depreciation is written-off at 10% on the original cost every year. The books are closed on December 31, every year. Prepare a Depreciation Expense-Stores ...
Thursday, March 29, 2012 at 2:51pm

accounting
I need HELP in journalizing the following please: February 1 Paid $3,750 accounts payable balance due to a supplier. March 15 Received $2,500 partial payment on a $5,000 accounts receivable balance. Wrote off the rest of the account as uncollectible. April 1 April 15 Purchased...
Thursday, March 29, 2012 at 10:51am

accounting
Journalize: March 15 Received $2,500 partial payment on a $5,000 accounts receivable balance. Wrote off the rest of the account as uncollectible.
Thursday, March 29, 2012 at 10:30am

accounting
March 15 Received $2,500 partial payment on a $5,000 accounts receivable balance. Wrote off the rest of the account as uncollectible.
Thursday, March 29, 2012 at 10:29am

Accounting
The Ritz Manor is a popular seaside resort. A double room costs $220 for one night. To reserve a room, guests must pay one night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for ...
Wednesday, March 28, 2012 at 3:13pm

Accounting
I have to do a research paper on the finance of GameStop, and I'm having problem with the first two questions: 1. If GameStop Corp chose to issue another round of corporate bonds, how much interest rate should they offer? 2. Assume that GameStop Corp did issue corporate ...
Wednesday, March 28, 2012 at 12:41pm

accounting
Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2011, purchases invoices during the next 12 months, and the inventory count at August 31, 2012, are summarized as follows
Tuesday, March 27, 2012 at 9:50pm

ACCOUNTING
On March 1, 2012, Enrique Company acquired real estate, on which it planned to construct a small office building, by paying $90,504 in cash. An old warehouse on the property was demolished at a cost of $7,646; the salvaged materials were sold for $1,633. Additional ...
Tuesday, March 27, 2012 at 9:47am

Accounting
What is the difference between cash basis and accrual basis accounting? Why do accrual-basis financial statements provide more useful information than cash-basis financial statements? Describe when each method (cash basis and accrual basis accounting) would be appropriate to ...
Monday, March 26, 2012 at 10:59pm

accounting
Mendez Company currently produces and sells 20,000 units of product at a selling price of $10. The product has variable costs of $4 per unit and fixed costs of $50,000. The company currently earns a total contribution margin of?
Monday, March 26, 2012 at 9:34pm

accounting
Part 5 Cash Budgeting Landis Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Seventy percent of sales are collected in the month of the sale, and the remaining balance is ...
Sunday, March 25, 2012 at 7:38pm

Accounting
Problem 9-5 Warranties Bombeck Company sells a product for $1500. When the customer buys it, Bombeck provides a one-year warranty Bombeck sold 120 products during 2010. Based on analysis of past warranty records, Bombeck estimates that repairs will average 3% of total sales. ...
Thursday, March 22, 2012 at 12:52pm

Revised paragraph of 8-12 sentences
I have to write these paragraphs for a writing assignment and just wasnt sure is I was doing it right. Need some advice!! ASSIGNMENT: You’ve applied for a specific job in your field of study. The Human Resources Department arranges an interview and tells you to bring ...
Thursday, March 22, 2012 at 10:09am

Revised paragraph of 8-12 sentences
I have to write these paragraphs for a writing assignment and just wasnt sure is I was doing it right. Need some advice!! ASSIGNMENT: You’ve applied for a specific job in your field of study. The Human Resources Department arranges an interview and tells you to bring ...
Wednesday, March 21, 2012 at 2:37pm

accounting
Mia Enterprises sells a product for $90 per unit. The variable cost is $40 per unit, while fixed costs are $75,000. Determine the (a) break-even point in sales units, and (b) break-even point if the selling price was increased to $100 per unit.
Wednesday, March 21, 2012 at 11:04am

business-ACCOUNTING
Income from operations, $151,800 The following events took place for Fed Inc. during October 2012, the first month of operations as a producer of road bikes: • Purchased $427,000 of materials. • Used $367,500 of direct materials in production. • Incurred $315,...
Tuesday, March 20, 2012 at 4:18pm

healthcare accounting
what is the entry when we get a gift of $100,000 for cancer research only with the investments earnings also limited to cancer research?
Tuesday, March 20, 2012 at 12:23pm

business
On December 31 of last year, Wolfson Corporation had in inventory 400 units of its products, which cost $21 per unit to produce. During January, the company produced 800 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 700 units in January, what was the ...
Tuesday, March 20, 2012 at 12:29am

business
At the end of January, Mineral Labs had inventory of 725 units, which cost $10 per unit to produce. During February the company produced 650 units at a cost of $14 per unit. If the firm sold 1,000 units in February, what was the cost of goods sold? a. Assume LIFO inventory ...
Tuesday, March 20, 2012 at 12:28am

Accounting
On November 30, 2011, Constance purchased an apartment building for $750,000. Determine her cost recovery deduction for 2011 rounded to the nearest dollar? A. $0 B. $2,400 C. $3,413 is it B
Monday, March 19, 2012 at 2:20pm

Accounting
On July 15, 2009, Travis purchased some office furniture for $20,000 to be used in his business. He did not elect to expense the equipment under §179 or bonus. On December 15, 2011, he sells the equipment. What is his cost recovery deduction for 2011? A. $0 B. $1,749 c. $...
Monday, March 19, 2012 at 2:17pm

Accounting
On May 26, 2007, Jamal purchased machinery for $30,000 to be used in his business. He did not elect to expense the equipment under §179 or the bonus. On October 10, 2011, he sells the machinery to a scrap metal dealer. What is his cost recovery deduction for 2011 rounded ...
Monday, March 19, 2012 at 2:16pm

Accounting
Which of the following is not a "trade or business" expense? A. Mortgage interest on a warehouse b. Mortgage interest on a personal residence c. Cost of goods sold is it B
Monday, March 19, 2012 at 1:35pm

Financial Accounting
Is Depreciation expense recorded in the General Journal?
Monday, March 19, 2012 at 12:12pm

accounting
how is accounting information in financial statement confusing?
Monday, March 19, 2012 at 11:53am

accounting
What is the ending balance in an account that opebs with $7000, earns 7.5% interest compound quarterly, and is held for 20 years.
Sunday, March 18, 2012 at 6:10pm

Financial Accounting
3. How is accounts receivable turnover calculated?
Sunday, March 18, 2012 at 6:03pm

Finance
Cost Allocation It started with a letter Statendam, November 5, 2001 To: Henk Jacobs, director finance department From: Bob Jansen, manager refuse collection department Dear Henk, Someone told me that you had to see the teachers of one or your children last night, so you could...
Friday, March 16, 2012 at 5:33pm

accounting
Discuss in 200 to 300 words, each of the four financial statements. Explain the different components of the statements as well as what the statements tell about a business.
Friday, March 16, 2012 at 2:34pm

accounting
The predetermined overhead rate for manufacturing overhead for 2008 is $4.00 per direct labor hour. Employees are expected to earn $5.00 per hour and the company is planning on paying its employees $100,000 during the year. However, only 75% of the employees are classified as...
Friday, March 16, 2012 at 12:31pm

Accounting
§179 expense is available for all of the following business assets except: A. a bulldozer. B. a phone system. C. an apartment complex. D. office furniture. is it A
Wednesday, March 14, 2012 at 7:20pm

Accounting
Della purchased a warehouse on February 25, 2011, for $350,000. $45,000 of the price was for the land. What is her cost recovery deduction for 2011 rounded to the nearest dollar? A. $6,853 B. $7,865 C. $9,705 D. $11,137 is it D
Wednesday, March 14, 2012 at 6:48pm

accounting
how would the table of analysis be set up with these transactions: started business with $25,000 paid rent $2,000 purchased equipment $6,000 only paid 40% owes difference purchased food and beverage $4,000 paid 75% in cash owes difference cash sales $4,000 utility bill was ...
Wednesday, March 14, 2012 at 12:13am

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