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Homework Help: Business: Accounting

Recent Homework Questions About Accounting

accounting
What is the journal entry to record a sale but no cash comes in?

Accounting
At the beginning of the year, Keller Company's liabilities equal $60,000. During the year, assets increased by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amount of equity?

accounting
At the beginning of the year, Logan company's assets are $200,000 and its equity is $150,000. during the year, assets increase $70,000 and liabilities increase $30,000. What is the equity at the end of the year?

accounting
Pearson began 20XX with 30,000 $1 common shares issued and outstanding. Paid in capital in excess of par was $25,000 and retained earnings were $75,000. Net income for 20XXwas $22,000. Requirements: Review Pearson's transactions for 20XX in the Excel Template below, then: 1....

Accounting
Why do you think the Accumulated Depreciation-Equipment has a zero on the trail balance section?

accounting
1. Please refer to the worksheet below. Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash $1,700 $1,700 $1,700 Accounts receivable 8,500 $2,000 10,500 10,500 Supplies 100 $80 20 20 ...

health care
You are the CIO of the healthcare organization. Your project team has advised you that the supervisor of the accounting department is less than enthusiastic about the idea of interviewing his staff for information needs assessment. After questioning your team further, it ...

accounting
Valmont, Inc. experienced the following events in 2012, in its first year of operation. 1. Received $20,000 cash from the issue of common stock. 2. Performed services on account for $50,000. 3. Paid utility expense of $12,500. 4. Collected $39,000 of the accounts receivable. 5...

Manageral accounting
Gallatin Carpet Cleaning is a small, family-owned business ooperating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $28 per hundred square feet. However, there is some question...

managerial accounting
Walt ’ s Whistles manufactures referee whistles. At the end of February, Walt ’ s has 2,000 pounds of steel for whistles in inventory. Walt ’ s expects to produce and sell 50,000 whistles in March. Each whistle requires a standard quantity of 0.2 pounds of steel. Walt ...

accounting
On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs. Building, 25-year estimated useful life, $4,000,000 cost, $400,000 salvage value Machinery, 10-year estimated useful life, $500,000 cost, no ...

accouting
Horton Company, as lessee, enters into a lease agreement on July 1, 2008, for equipment. The following data are relevant to the lease agreement: 1. The term of the non-cancelable lease is 4 years, with no renewal option. Payments of 422,689 are due on June 30, of each year. 2...

accounting
Horton Company, as lessee, enters into a lease agreement on July 1, 2008, for equipment. The following data are relevant to the lease agreement:

Accounting
Complete an Income Statement, Statement of Owner's Equity, and Balance Sheet using the information provided below for Rya’s Planning Services. Cash… …… ……… … … … ………$21,500 Accounts Receivable………17,500 Office Supplies…… … ………500 ...

accounting
angela bennett is an employee at coopers and smith cpa firm. Angela, a part-time student, is working on her graduate degree in history. Coopers & Smith which has an educational assistance program reimburses Angela $6,000 of her educational expenses she incurred in the year. ...

accounting
On December 31, 2008, University Theatres issued $500,000 face value of bonds. The stated rate is 6 percent, and interest is paid semiannually on June 30 and December 31. The bonds mature in 10 years. Required: If required, round your answers to the nearest whole dollar. ...

Financial Accounting
ane 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 $3,000...

Accounting
purchased dental equipment at 15,000 and invested cash of 500,000

accounting
A company has an overhead application rate of 125% of direct labor costs. How much overhead would be allocated to a job if it required total direct labor cost of $20,000? $5,000. $16,000. $25,000. $125,000. $250,000. The R&R Company's production costs for August are: direct ...

accounting
Williams Company's direct labor cost is 25% of its conversion cost. If the manufacturing overhead for the last period was $45,000 and the direct materials cost was $25,000, the direct labor cost wa

accounting
Discuss EVA concept, how is EVA determined, Describe how the company can increase EVA, Dicuss why and how EVA relates to financial ratio analysis

Java Programming
Don't know how to start.. Can anyone help me? For this program you are to create a two class application - a driver and a principal class - that reads in text interactively from the keyboard, and then reports on two aspects of the entered text. First it should print a table of...

accounting
purchase office supplies worth 50000.paying 20000 and 30000 on accounts.what is the debit and credit entry?

Economics
2. Lucy quits a $50,000 job to open her waffle business. She makes $225,000 in revenue from her first year of waffle sales. She pulls $50,000 out of an account that returns 3% interest per year and invests the entire amount in her business. She also borrows $50,000 at 10% ...

accounting
Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parentheses. a b c d e Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $60,000 $42,500 $36,000 $ ? $23,600 Cost of goods sold ...

accounting
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life of 20 years

Basic Accounting
Complete an Income Statement, Statement of Owner's Equity, and Balance Sheet using the information provided below for Rya’s Planning Services. Cash… …… ……… … … … ………$21,500 Accounts Receivable………17,500 Office Supplies…… … ………500 ...

Social STUDIES
due to continued growth, our local claims office is interviewing applicants who are interested in processing medical claims. background in bookkeeping, accounting, banking, or medical terminology and/or keyboard skills, is preferred. a stable work history required. our ...

acc 205
Caren Smith opened a medical practice. During July, the first month of operation, the business, titled Caren Smith, M.D., experienced the following events: Jul 6 Smith invested $55,000 in the business by opening a bank account in the name of C. Smith, M.D. The business gave ...

Strayer
What are the type of finance accounting sheets for proposals

accounting
What are some key elements of activity-based costing? I already know what activity-based costing is, I just do not understand what the key elements are.

Accounting
you have just won the National Publisher's Sweepstakes. You have two options, you can receive ten, $500,000 semiannual payments starting today, or you can take your winnings in a lump-sum payment now based on 7% annual interest rate. Determine the equivalent lump-sum payments?

Accounting
Your firm uses return on assets (ROA) to evaluate investment centers and is considering changing the valuation basis of assets from historical cost to current value. When the historical cost of the asset is updated, a price index is used to approximate replacement value. For ...

Accounting
Panarude Airfreight is an international air freight hauler with more than 45 jet aircraft operating in the United States and the Pacific Rim. The firm is headquartered in Melbourne, Australia, and is organized into five geographic areas: Australia, Japan, Taiwan, Korea, and ...

Principles of Accounting I
Deliverable Length: 5-10 PowerPoint slides / can include an Excel file for financial analysis Details: Choose a public company in the food industry. Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year. Analysis ...

Accounting
Identify at least three external users of accounting information and indicate two questions they might seek to answer through their use of accounting information I just need help on indicate 2 questions they might seek to answer through their use of accounting information

Accounting Principles
answer question Jane Kent is a licensed CPA. During the first nonth of operations of her business, the following events and transactions occurred

ACCOUNTING- 2
HELP HERE IS WHOLE PROBLEM.IT NEEDS TO BE JOURNALIZED PROPERLY. mAY 15-fILED THE FEDERAL INCOME TAX RETURN FOR 2009. THE TOTAL TAX FOR THE YEAR WAS 124,000. DURING 2009, QUARTERLY DEPOSITS OF ESTIMATED TAX TOTALING 122,700 ;HAD BEN MADE. THE ADDITIONAL TAX OF 1,300 WAS PAID ...

accounting
Recording federal income tax transaction and cash dividend transactions. What annual per share dividend was paid to common stockholders in 2010? May 15-

accounting
What kinds of problems could be created in a financial report is not reliable, relevant, consistent or comparable?

accounting
You trade equipment in 2010 and pay a $10,000 cash boot for similar equipment with a fair market value of $20,000. The transaction cost is $100. You paid $25,000 for your old equipment. The depreciation deduction allowed for tax purposes on the old equipment was $4,000 in 2007...

Accounting
If both my trial balance and balance sheet are balanced, my business should breakeven with no gain or loss. But my accountant told me my business has lost $500,000. Could my accountant be right?

computers
name 6 application packages including a package that can be used to teach accounting

accounting
Mitchell Corporation has current assets of $1 million and current liabilities of $750,000. If they pay $250,000 of their accounts payable, what will their new current ratio be? (Points: 4) 1.25:1 2.0:1 2.0:1 1.5:1

accounting
For 2010, Fielder Corporation reported net income of $30,000; net sales $400,000; and average shares outstanding of 6,000. There were no preferred stock dividends. What was the 2010 earnings per share? (Points: 4) $4.66 $0.20 $66.67 $5.00

Accounting
Confused on the method used to solve this problem and could really use some help. The 5% is throwing me off as we don't know 5% on what amount and we assume that amount compounds over time? You are currently 25 years old and have just spent the past weekend in Vegas. As you ...

accounting
What do you think mcdonalds corporate strategy and goals were?

persuasive essay
need help checking grammar errors please and how good is it? Credits cards have some positive value to them from being able to make big purchases, to making an everyday purchase. This reminds me of a quote said by John Mc Donald’s “Everything that has a positive side also ...

accounting
Enter transactions: 1. owner contributes $6,00 cash 2. $2,000 in revenue on account 3. $1,500 cash from debtors 4. Rent expense cash $400 5. $300 in cash for salaries invested $2,500 in a certificate of deposit(terms - 12 months, rate of interest - 8%) Adjusted enteries at end...

Financial Accounting
Incentive Corporation was organized in 2009 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $4 per share. 12,000 shares. During the first year, the following selected transactions were completed: a - ...

accounting
I need help with the layout on how to prepare a bank reconciliation and record adjustments. As of July 31 Company is Clark Company.

accounting
Jay Corp. bought a machine for $15,000. The machine is expected to produce 10,000 units. The machine has a residual value of $5,000. Assuming the machine produces 400 units during Year 1, what should the depreciation expense be?

accounting
Selling price of a bond: Problem type 1 On December 31, 2008, $140,000 of 9% bonds were issued. The market interest rate at the time issuance was 11%. The bonds pay on June 30 and December 31 and mature in 10 years. Compute the selling price of a single $1,000 bond on December...

Accounting 2
At the beginning of the year, we purchased a generator for $ 56,000. We expect then generator to have a useful life of 12 years, or 60,000 hours. The residual value of the generator at the end of its life is expected to be $ 5,600. We actually used the generator 3,500 hours in...

Accounting
What is the maturity value of a 120-day, 4 % note for $ 18,000

accounting
How do you prepare the following adjusting, reversing and next period entry into an unadjusted trial balance? I also need help with the rest of this problem. Cost of supplies still available December 31 is 2,700 The notes payable requires an interest payment to be made every 3...

accounting
How do I figure FUTA/SUTA earnings? This is what my book gives: James Company has three employees .Its payroll information is given below. Employee Earnings Prior October to October Earnings Donald Robinson: $6050 $1200 OASDI Earnings FUTA/SUTA Earnings $1200 $950 Tax Rate ...

accounting
I got this of this web site but I don't understand where it all goes. this is the one I am working on. I need help. Part 1 BULLSEYE RANGES For Year Ended December 31, 2005 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 13...

accounting
I need to add the last question I entered was for Showers Company

accounting
Preparing closing entries and a post-closing trial balance for Exercise E4-3 I need help with this

accounting
The Fast Delivery Service submitted the transactions given below. Analyze these business transactions. a. On October 1st, Joseph took $25,000 from personal savings and deposited the amount to open a business checking account in the name of Fast Delivery Service. b. On October ...

tax accounting
bruce wilson won 2 million in the state lottery. the lottery pays out the prize money in 20 annual installments of 100,000 each. After receiving three 100,000 installments, bruce sold the remaining 1.7 million of payments for 1 million. He wants to report the 1 million as long...

accounting
kindly please help me. B1, G1, and P1 formed a partnership. They agreed that B1 will receive a bonus of 10% of partnership net income. B1 and G1 will receive salary allowances of $10,000 and $8,000, respectively, and the remaining income is allocated equally. Net income ...

accounting
is any one can help me in solving these problem.thank you and may GOD blees u always. Problem Solving: 1. Xiat is a partner who used the stock of the firm worth Php 10,000 and suffered a loss of Php 2,000. He went the firm to bear the loss. How much ‘Xiat’ is liable to pay...

accounting please help urgent
pls.hep me to solve tjis problem.. is anyone willing to solve please. PROBLEM 1: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha contributes assets with the following fair values: ...

n/a
Inter-department Services Step Method : O'brain's Department Store Allocates the Cost of personnel and Payroll to three retail Sales Department Housewares , Clothing and Furniture . In addition to providing services to the operating department. Personnel and Payroll provide ...

accounting
Required a. Determine the gross profit margin for each product produced based on the ABC data [(selling price 2 ABC cost per foot) 3 feet produced]. b. Determine the gross profit margin for each product produced based on the traditional costing data [(selling price 2 ...

Managerial Finance and Accounting
Santiago’s Salsa in Problem 1-1. The company is currently producing and selling 325,000 jars of salsa annually.The jars sell for $5.00 each.The company is considering lowering the price to $4.60. Suppose this action will increase sales to 375,000 jars. Required a. What is ...

accounting ..urgent pls
PLEASE HELP ME AND YOU ARE ALL BRIGHT AND I NEED YOUR HELP FOR SOLVING THIS PROBLEM. PROBLEM 1: CARE p’ship at December 31 had cash amounting to $20,000, noncash assets $100,000, liabilities $55,000, and the following capital balances: Cassandra $45,000 and Penelope $20,000...

accounting ..urgent pls
please help me to solve this problem. THANK YOU AND MAY GOD BLESS YOU ALWAYS. L. Carson agrees to pay $10,000 each to to C. Ames and D. Barker for 1/3 of their interest in the Ames-Barker partnership. At the time of the admission of Carson, each partner has a $30,000 capital ...

accounting ..urgent pls
can you help please.. PROB 1: A, B and C shared the profit of Rs. 9,00,000 in the ratio of 2:2:1 without providing for interest on B’s loan, B granted a loan of Rs. 4,00,000 in the beginning of accounting year. Where as the partnership deed is silent on the interest on loan ...

accounting..please help
can you help me please for this solving problem below... problem: A, B and C shared the profit of Rs. 9,00,000 in the ratio of 2:2:1 without providing for interest on B’s loan, B granted a loan of Rs. 4,00,000 in the beginning of accounting year. Where as the partnership ...

Accounting
Company acquired a property and need to journalize the property and construction. Received 4,700 in salvage from material removed from old building.

accounting
Paid 55.00for landscaping property. Used cash. Journalize

accounting
You have been asked to prepare a presentation for the next board of directors meeting regarding managerial accounting. What is the purpose of managerial accounting? How do managerial accountants support strategic decisions? How do managers implement strategy? You have been ...

accounting
please can you help how to get the answers fpr this problem solving .. I am really could not get the correct answer. problem: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha ...

accounting.pls help me
Is anyone can help me to solve this problem beloww. thank you very much. PROBLEM 1: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha contributes assets with the following fair ...

Financial Accounting
I am so lost on this. I need to prepare adjusting journal entry for this. The truck was acquired on August 1. Franklin estimates the truck will have a useful life of 5 years and no salvage value. The depreciation on the building has already been recorded. In my general ledger ...

Accounting 100
Who can be harmed when a company changes its accounting methods too often?

accounting
I already know what the different inventory cost flow assumptions are, but what I do not know is how might the choice of cost flow assumption affect the company's cost of goods sold and ending inventory balance? Can somebody please explan this to me?

accounting
Six annual payments of $250 into savings account earns 1.5% annually. What is the value of the account at the end of the six years? Rate Periods Payment Future value

Accounting
MHS currently has $1,150,000 in cash. How long would it take them to accumulate $2,000,000 in cash? Assume an interest rate of 5%.

accounting
cash flow analysis of whirlpool cash flow statement for 2006 solution

accounting
Triple Play, Inc Triple Play, Inc. was established in 1982 by Randy Cleaver, Jim “Bluefish” Johnson, and Willie Lloyd, all ex-major league baseball players who were interested in offering quality baseball mitts at affordable prices. These players felt that, at the time, ...

System Analysis and Designs - IT460
I need help really bad since I am majorly stuck due to things happening in the family. My GPA thus far for this course is a 4.0, however, now I am stumped. Please complete the following projects using MS Word. Save the project as Unit 4 Project. Jesse wants to see a context ...

strayer
ACC422 – Intermediate Accounting II Learning Team D Assignment – Week 2 This assignment is worth a total of 75 points distributed evenly among the two problems. It will be graded based upon both the accuracy of your solutions (2/3) and effort (1/3). Points for effort will ...

accounting..help plz urgent!
An accounting report that shows the changes in capital during the accounting period is: a.) a balance sheet. b.) an income statement. c.) a statement of owner's equity. d.) All of these answers are correct.

Accounting
Presented below are some business transactions that occurred during 2008 for Vicki Prowitz Company.

Managerial Accounting
. In order to improve the accuracy of unit costs, most companies recompute the predetermined overhead rate each month. True or False

Finance accounting
Eddings Company had a beginning inventory of 400 units of Product XNA at a cost of $8.00 per unit. During the year, purchases were: Feb. 20 600 units at $9 Aug. 12 300 units at $11 May 5 500 units at $10 Dec. 8 200 units at $12 Eddings Company uses a periodic inventory system...

Accounting
Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 Clooney CDs with a unit cost of $7. During March Glanville made the following purchases of Clooney CDs. March 5 3,000 @ $8 March ...

Accounting
Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 Clooney CDs with a unit cost of $7. During March Glanville made the following purchases of Clooney CDs. March 5 3,000 @ $8 March ...

Accounting 1
what is the name of a comparison of the general ledge accounts with debit balances to the general ledger accounts with credits blances to make sure they equal the same?

accounting
Diamond Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,700 yards at a cost of $7.60. Determine the (a) price variance, (b) quantity variance, ...

economics
Explain the effect on a company’s stock price today of the following events, other things held constant. a. the interest rate on the company’s bonds falls. b. Several companies in the same sector announce surprisingly slow sales. c. Changes in the tax laws passed last year...

accounting
What potential problem can arise if a company incorrectly classifies costs? Example, what if an inventoriable cost is classified as a period costs?

Accounting
Greenwood Corporation has paid 60 consecutive quarterly cash dividends (15 years). The last 6 months have been a real cash drain on the company, however, as profit margins have been greatly narrowed by increasing competition. With a cash balance sufficient to meet only day-to-...

accounting
The two accounts used to adjust the uncollectible accounts are. A) Uncollectible Accounts Expense and Allowance for Uncollectible Accounts. B) Accounts Receivable and Uncollectible Accounts Expense. C)Accounts Receivable and Allowance for Uncollectible Accounts D)Accounts ...

accounting/help please
The two accounts used to adjust the uncollectible accounts are. A) Uncollectible Accounts Expense and Allowance for Uncollectible Accounts. B) Accounts Receivable and Uncollectible Accounts Expense. C)Accounts Receivable and Allowance for Uncollectible Accounts . D)Accounts ...

Accounting
The SOO Company has machinery that it acquired a number of years ago at a cost of $812,000. As of December 31, 2012 the company has recorded life-to-date depreciation in the amount of $332,900. Because of changes in their manufacturing processes, the equipment does not ...

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