Accounting

economics
The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return)in the nightclub business?

tax income
When filing their tax returns, almost all individuals use the __________ method. A. accrual B. cash receipts and disbursements C. recognition D. accounting is it B

Accounting
Continuing Cookie Chronicle (Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 6.) CCC7 Part 1 Natalie is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving ...

Accounting
If Tom, an accountant, agrees to provide accounting services to Carl, a friend, in exchange for Carl fixing Tom's office floor, then: (Points : 1) Tom must report income on his tax return. Carl must report income on his tax return. Neither Tom nor Carl must report income on ...

Immediate accounting
On June 1 2009, ABC sold an accounts receivable in the amount of $200,000 to XYZ bank for $190,000. The sale is "with recourse". ABC estimates that the fair value of the recourse obligation is $12,000. Provide the journal entry for the sale of the receivable in the books of ABC

accounting
Albright Company purchased as a long-term investment $500,000 of Benton Corporation 10-year 9% bond present entries to record the following selected transactions: (a.) Purchased bonds for $475,000.

accounting
If current assets decrease and current liabilities increase, the current ratio

accounting
New technology, like the latest cell phones and HDTV, would probably be costed using the

accounting
Goods such as milk, bread, and cheese would probably be costed using the _______ method of inventory costing.

accounting
When a merchandiser sells on account, which of the following is not needed to record the transaction?

accounting
Meranda Corporation purchases $3,500 of inventory on account from Ashley Corporation. The journal entry to record this purchase for Meranda under a perpetual inventory system is

Accounting
A company's current ratio increased from 1.23 to 1.45. What does this mean?

Finite with Calculus Applications
The Ball Company manufactures three types of lamps, labeled A,B,and C. Each lamp is processed in two departments, I and II. Total available work-hours per day for departments I and II are 400 and 600, respectively. No additional labor is available. Time requirements and profit...

Accounting
In its first month of operations, Cisler Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand at the end of the period, compute the cost of the ending ...

Accounting
In its first month of operations, Cisler Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand at the end of the period, compute the cost of the ending ...

Accounting
In its first month of operations, Cisler Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand at the end of the period, compute the cost of the ending ...

accounting
Jack Shellenkamp owns and manages a computer repair service, which had the following trial balance on December 31, 2011 (the end of its fiscal year). BYTE REPAIR SERVICE Trial Balance December 31, 2010 Cash $8,000 Accounts Receivable 15,000 Parts Inventory 13,000 Prepaid Rent ...

accounting
Wilson Reed, the bookkeeper for Home Interior Improvements and Designs Company, has just finished posting the closing entries for the year to the ledger. He is concerned about the following balances: Capital account balance in the general ledger: $ 48,550 Ending capital ...

accounting
Your review of the general ledger of Home Interior Improvements and Designs Company reveals a beginning capital balance of $25,000. You also review the general journal for the accounting period and find the closing entries shown on the next page.Prepare a general journal entry...

accounting
You notice that your accounts receivable days have doubled in the first six months of this year. Do you give the A/R Director a bonus or put him/her on probation? Why? Explain fully what questions you would ask the Director about the A/R and why it has doubled.

accounting
On December 31, 2009, $150,000 of 14% bonds were issued. The market interest rate at the time of issuance was 15%. The bonds pay interest on June 30 and December 31 and mature in 8 years. Compute the selling price of a single $1,000 bond on December 31, 2009

Finanace
Beginning inventory 600 units @ $ 10 Purchases ( in order from first to last) 1,000 units @ $11 900 units @ $ 12 700 units @ $ 14 Sales for the period were 1,900 units A) Compute the inventory balance and the cost of goods sold at the end of the accounting period using average...

accounting
compute the working capital, current ratio, and quick ratio after each transaction for boole company

Accounting
Give an example where product and period costs are the same and a separate example where they are different.

Accounting
I am having difficulties with the accounting problem below Roland Andersson is the manager of the Ekland Division of Ystad Industries. He is one of several managers being considered for position of CEO, as the current CEO is retiring in a year. All divisions use standard ...

Accounting
Do you include opening stock in the profit and loss account?

Financial Accounting
Prepare the general journal entries for the following transactions: Jan 2, 2011 -- Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $150,000 cash down and signed a mortgage payable for the balance. Dec. 31, 2011--Depreciation is computed ...

Managerial Accounting
During June, the receipts and issuances of Material No. A2FO are as follows: Received June 3 1,100 units @ $15 16 1,700 units@ $17 29 900 units@ $18 Issued June 11 700 units 4 Job No. 116 18 1,900 units 4 Job No.117 30 800 units 4 Job No. 118 A) Determine the cost of each of ...

Accounting
Hayes Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred June 20 Purchased books on account for $720 from Cook Book Publishers, terms ...

accounting
the gross profit rate represents:

Accounting
Hayes Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred June 20 Purchased books on account for $720 from Cook Book Publishers, terms ...

accounting
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

follow up from before
Is there some reason as to why nobody has addressed my financial accounting post from Saturday, February 11, 2012 at 5:45pm?

Accounting
Case study 2 Sailmakers Ltd John Jeffries recently left the army after more than 20 years in the service. He had decided that at 45 years of age it was time to start a second career. Throughout most of his life John had a passion for yachting and had competed successfully in ...

financial accounting
I am preparing an adjusted trial balance and I have almost gotten my debits to equal my credits. I need to figure out how much to debit the equipment and how much to credit the accumulated depreciaton. To give you an idea of the gap between the two, my debits thus far are 57,...

human resource
1.  Regulations governing the employer-employee relationship are based on agency law and failure of an employee/agent to act according to the employer's instructions could result in liability for the employer.  2.  Misclassification of employees as independent contractors...

accounting
Research/Ratio Assignment:Choose two competitor companies that are U.S. GAAP publicly traded companies. Determine and compare their net profit margin and debt to asset ratio for the most recent year reported. Interpret the information and support your answer. The PDF version ...

accounting
competitor companies that are U.S. GAAP publicly traded companies.

accounting
P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows. PORTER COMPANY Worksheet For the Year Ended December 31, 2008 Adjusted Account Trial Balance No. Account Titles Dr. Cr. 101 Cash 18,800 112 Accounts Receivable 16,200 126 Supplies 2,...

accounting
Worksheet data for Goode Company are presented in E4-2. Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30. Cash 13,752 ...

business math
Baker Company purchases a new delivery truck for $20,000. The truck is expected to have a useful life of 90,000 miles before replacement, and a salvage value of $2,000. In its first year the truck was driven 22,000 miles, and a further 19,000 miles in year two. What is the ...

Accounting
Worksheet data for Goode Company are presented in E4-2. Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30. Cash 13,752 Accounts...

ECON
. Movie attendance dropped 8 percent as ticket prices rose a little more than 5 percent. What is the price elasticity of demand for movie tickets? Could price elasticity be somewhat overestimated form these figures? That is, could other things have changed, accounting for some...

accounting
quarter sales revenue profit/(loss) 1 400 (280) 2 1200 360 3 1600 680 4 800 40 total 4000 800 Number of visitors for the year 50000. Next year management anticipates an increase in unit variable cost of 10 percent and a profit target of 1 million. 1.calculate total fixed and ...

Business 101
Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial strength of her clients’ businesses. Carmen is working as a A.public accountant B.certified management ...

Accounting for decision making
what church policies should be changed to improve internal control

Accounting
(a) Using incremental analysis, determine whether SY Telc should accept this offer under each of the following independent assumptions. (1) Assume that $300,000 of the fixed overhead cost can be reduced (avoided). (2) Assume that none of the fixed overhead can be reduced (...

accounting
Recently Boeing has maintained a cash balance of over $6 billion. At an annual inflation rate of about 2 percent, does cash have more or less purchasing power at the end of a given year than at the beginning? By how much? Is such a gain or loss reflected on the company’s ...

Accounting
Last year, Jasper Company earned operating income of $139,600 with a contribution margin ratio of 0.3. Actual revenue was $237,000. Calculate the total fixed cost. Round your answer to the nearest dollar.

accounting
Who would you say benefits more when a company prepares accurate and truthful financial statements?

accounting
3. On December 1, year 1, Newton Corporation incurs a 15-year $300,000 mortgage liability in conjunction with the acquisition of an office building. This mortgage is payable in monthly installments of $3,600, which include interest computed at the rate of 12% per year. The ...

accounting
On December 1, Nautilus corporation borrowed $90,000 from a bank and signed a 10%, 90-day note payable in the amount of $90,000. The December 31 adjusting entry will be:

accounting
Quayle Corporation reports net income of $380,000 and weight-in average of 200,000 outstanding fro the year. Complete the earnings per share of Common Stock.

accounting
where on a t account would I post completed a consulting engagement and received cash of 7800

Managerial Accounting
Greetings, I just started my accounting class and I do not have any accounting experience of knowledge (my first acct class). Could you please help me out. I just need the traditional and ABC direct, indirect, and unallocated cost answer for the two accounting systems. You ...

accounting
E4-19 On December 31, the adjusted trial balance of Oslo Employment Agency shows the following selected data. Accounts Receivable $24,000 Commission Revenue $92,000 Interest Expense 7,800 Interest Payable 1,500 Analysis shows that adjusting entries were made to (1) accrue $4,...

Accounting
Assets = Liabilities + Equity How can you tell which company have the strongest financial position? Is buy the highest in assets, highest in liabilities, or highest in equity? I am confused.

health accounting
explains the relationship between finance and accounting, and how they operate to determine financial viability within a health care organization.

Accounting
If you are closing out a company how would you handle retained earnings? Example: If I opened a company with my own cash for $1,000.00. I know the entry would be: $1,000.00 DB to cash $1,000.00 CR to Retained Earnings If I used the $1,000.00 cash to pay bills and then had no ...

accounting
P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows. VOGEL CONSULTING Trial Balance June 30, 2012 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Prepaid Insurance 2,880 Supplies 2,000 Equipment 15,...

accounting
Write a 3-4 page paper that summarizes your findings from the four (4) scenarios as well as how using Microsoft Excel helped you with this process, using the following outline: 2. Summarize the various accounting systems that each firm provides. Be sure to address the ...

accounting
issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $55,000, $120,000 and $45,000. how are these entries journalized

different one Financial Accounting
For each transaction, indicate whether the related account would be classified as an (a) asset (b) liability (c) stockholders' equity to be reported in the balance sheet (d) revenue (e) expense to be reported in the income statement (f) dividend to be reported in the ...

Financial Accounting
I am trying to get this done asap because it is an online assignment and the web site is down for today. I will share my own answers if you all will provide feedback on them. Any guidance on these topics would be much appreciated: Indicate whether each transaction is ...

accounting
The Seattle Company allocates overhead based on a predetermined overhead rate of $8.00 per direct labor hour. Job b 689 required 6 tons of direct material at a cost of $900.00 per ton and took employees who earn $15.00 per hour a total of 90 hours to complete. What is the ...

financial accounting
Connection Station, an internet café, had the following operating activities during the month of May: 1. Bought 800 in jump drives and disks, which are available for resale from Office Depot on credit 2. Paid 900 in utilities for the month of may 3. Paid 2000 rent for the ...

Saetty
how do I provide accounting services to an entity like an anonymous society?

Statistics
Are Social Security numbers of employees at an accounting firm qualitative or quantitative? Why?

accounting
Inventory Accounts and Cost of Goods Sold [LO 6] Smith Die Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer’s templates. During the first week of May, six orders were received from customers. They were assigned job ...

business/accounting
Christy Burch and Myung Lim, partners, compared their current income statement with their income statement of a year ago. They noted that sales were 12.0% higher than a year ago. They also noted that the total expenses were 20.0% higher than a year ago. What type of analysis ...

Westwood
Flexibility is said to be the hallmark of modern management accounting, whereas standardization and consistency describe financial accounting. Explain why the focus of these two accounting systems differ.

Accounting
The balance sheet of Burger King reports current assets of $30,500 and current liabilities of $15,800. Calculate the current ratio of Burger King and detemine whether it will increase or decrease as a result of the following transactions: -Paid $2,030 cash for a new oven...

accounting
Christy Burch and Myung Lim, partners, compared their current income statement with their income statement of a year ago. They noted that sales were 12.0% higher than a year ago. They also noted that the total expenses were 20.0% higher than a year ago. What type of analysis ...

Financial Accounting
1. Post the following transactions of a restaurant to prepare the journal ledger and trial balance. Jan - 2011 Transaction Amount 5 Started the business with cash 2,50,000 10 Deposited in the bank 50,000 15 Purchased tables and chairs 80,000 20 Purchased Freeze 30,000 ...

Financial Accounting
I am working on an unadjusted trial balance and the assignment says to prepare one for the end of July. Do I use ALL ledger accounts even if there was no activity in July? OR do I just use the July accounts?

MATH
natasha is painting her bedroom, which measures 15 feet by 12 feet and has an 8-foot ceiling. not accounting fo windows and doors, how many square feet will she be painting?

Fianancial Accounting
I am trying to prepare an unadjusted trial balance for Aqua Elite, Inc. I have done it twice and it doesnt balance. I am not sure I am doing the right calculations. The information is as follows: Because Aqua Elite, Inc. is a new startup business, the beginning balances in all...

math
Bob sets two alarm clocks (battery-powered) to be sure he arises for his Monday 8:00 A.M. accounting exam. There is a 75 percent chance that either clock will wake Bob. (a) What is the probability that Bob will oversleep? (b) If Bob had three clocks, would he have a 99 percent...

Accounting
On March 1, 2003, a company paid a $16,200 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table: Check 2005 insurance expense: Accrual, $5,400; Cash, $0. Dec. 31, 2005, asset: Accrual, $...

auditing
I have been asked "Determining whether amounts are in conformity with GAAP addresses the proper measurements of assets, liabilities, revenues, and expenses which includes all of the following except: a. the reasonableness of management's accounting principles. b. proper ...

Accounting
O' Hara Company began operations on December 1, 2011. Presented below is selected information related to O' Hara Company at December 31, 2011. Office Equipment ₤ 40,000; Utilities Expense ₤ 6,000; Cash 14,000; Accounts Receivable 27,000; Service Revenue 108,000; ...

Accounting
O' Hara Company began operations on December 1, 2011. Presented below is selected information related to O' Hara Company at December 31, 2011. Office Equipment ₤ 40,000; Utilities Expense ₤ 6,000; Cash 14,000; Accounts Receivable 27,000; Service Revenue 108,000; ...

Accounting
Can someone tell me the formula of how to calculate depreciation?

accounting
RC Corp. uses a job order cost accounting system. During the month of April, the following events occurred: (a) Purchased raw materials on credit, $32,000. (b) Raw materials requisitioned: $25,800 as direct materials and $10,500 indirect materials. (c) Paid factory payroll for...

accounting
In 2007, Clyde Blackstock opened Clyde’s Pets, a small retail shop selling pet supplies. On December 31, 2007 Clyde’s accounting records showed the following: Merchandise inventory at December 31, 2007 $10,250 Merchandise inventory at January 1, 2007 $15,000 Sales revenue ...

accounting
Plumley Ad Agency contracted with a company to prepare an ad campaign. Plumley uses a job order costing system. Plumley estimates that the job will take 145 designer hours at $90 per hour and 85 staff hours at $45 per hour. Plumley uses two overhead rates in applying overhead ...

accounting
What is the acid test ratio? Is it the same thing as the quick ratio?

Accounting
When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Half of the preferred stock was issued at a price of $103 per share, and 70,...

Accounting
The following information is necessary to compute the net assets (stockholders' equity) and book value per share of common stock for Rothchild Corporation: 8% cumulative preferred stock, $100 par $ 200,000 Common stock, $5 par, authorized 100,000 shares, issued 60,000 shares ...

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

Accounting
Lovvern Trophies makes and sells trophies it distributes too little league ballplayers. The company normally produces and sells between 8,000 and 14,000 trophies per year. The following cost data apply to various activity levels

Accounting
Simon issues four-year bonds with a $50,000 par value on June 1, 2011, at a price of $47,974. The annual contract rate is 7%, and interest is paid semiannually on November 30 and May 31.

accounting
The following information relates to Vice Versa Ventures for calendar year 20XX, the company’s first year of operations: Units produced 20,000 Units sold 17,000 Selling price per unit $35 Direct material per unit $5 Direct labor per unit $5 Variable manufacturing overhead ...

Accounting
Directions: Be sure to make a copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be ...

acc
Which of the following is a true statement about manual and electronic accounting systems?

accounting
refer to christmas company. how many units are to be tracked for forming?

accounting
1,150,000 in cash. How long would it take them to accumulate $2,000,000 in cash? Assume an interest rate of 5 percent.

Accounting
how and what do I post from the cash receipts journal to the general journal

Accounting
What impact does amt have on the decision to whether to use either the percentage of completion method or completed contract for reporting profit on longterm contracts?

Accounting
Kelly B. Roach Single, 1 Allowance $415/week Deduction for 401(k) plan 50/week Annual Taxes Withheld 1,337.96 Social Security tax withheld 313.04 Medicare tax withheld 662.48 State Income tax withheld 928.20 Local Income tax withheld Ralph Volpe Married, 1 Allowance 485/week ...

  1. Pages:
  2. <<Prev
  3. 7
  4. 8
  5. 9
  6. 10
  7. 11
  8. 12
  9. 13
  10. 14
  11. 15
  12. 16
  13. 17
  14. 18
  15. 19
  16. 20
  17. 21
  18. Next>>

Homework Help: Business