Homework Help: Business: Accounting

Recent Homework Questions About Accounting

Tax Accounting
Can someone please explain how to figure this out. Is there a formula? On August 2, 2012, Wendy purchased a new office building for $3.7 million. On October 1, 2012, she began to rent out office space in the building. On July 15, 2016, Wendy sold the office building. Determine...

Tax Accounting
Can someone explain how to do the math on this? Tax Deductions on Stolen Items: During 2012, someone broke into Jacob's personal residence and took the following items: Asset Adjusted Basis Fair Market Value (FMV) before Fair Market Value (FMV) after Insurance Recovery ...

Accounting
On September 1, 2011, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2011, the accounting records contained the following amounts: Accounts Payable $2,200 Dividends Declared and paid $2,300 Accounts Receivable $2,200 ...

economics
This chart shows the components of nominal GDP for the years 2000 and 2001. All figures are in billions of current dollars. Components 2000 2001 Consumption $6,684 $6,987 Investment $1,755 $1,560 Government Spending $1,751 $1,858 Exports $1,101 $1,034 Imports $1,467 $1,383 ...

accounting
In determining the viability of a strategic investment, several pieces of information are required, including the cost of the project, the projected cash flows, and the discount, or interest, rate. In the Guillermo Furniture Scenario, which costs would you NOT consider, and ...

math
For tax and accounting purposes businesses often have to depreciate equipment values over time. One method of depreciation is the straight-line method. Three years ago Hilde Construction purchased a bulldozer for $51,500. Using the straight-line method, the bulldozer has now ...

Accounting
In its first month of operation, Kuhlman Company purchased 130 units of inventory for $6, then 230 units for $7, and finally 170 units for $8. At the end of the month, 200 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather ...

accounting
Five characteristics of financial statement

Accounting
The company rents office space and on December 1 had paid 7200 to the landlord for 12 months' rent in advance.

Tax Accounting
Many tax professionals have moved into the field of financial planning for their clients. How do taxes impact financial planning for a client? Why do tax professionals have a perfect opportunity to perform financial planning for their clients?

ACCOUNTING
List sections of the income statement and give a brief explanation for each section

Accounting
First, you have to categorize each transaction as financial, operating, or investment. THEN, determine if the total assets increases, decreases, or stays the same. THEN, determine if the total income decreases, increases, or stays the same. THEN determine what financial ...

Chemistry
Chlorine has two isotopes with mass number 35 and 37. Calculate the relative abundance of the two isotopes accounting for normal atomic mass of 35.5

accounting
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a.What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease. b.If the ...

Financial Acc & Reporting
Archive bhd acquired a franchise on finance lease. it is required to pay 200000 per annum in advance for five years. the implicit interest rate is 10%. the franchise could be bought for 800000. the legal life is five years but can be renewed at 5000 for another five years. ...

accounting
What is the predetermined manufacturing overhead rate? The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $ 1,700.00 Table Leg $ 500.00 Drawer $ 370.00 Assume a $35 per hour wage rate to the ...

Accounting
Value of $40000 compounded at 5% annually for 35 years

Accounting
How do i prepare a work sheet?

Economics
The Southern Tree Trimming Corporation reported an accounting profit of $35,000 and a normal rate of return of 15 percent on capital and enterprise of $30,000. The opportunity cost of labor is $15,500. What is the economic profit? $110,500 X $19,500 $15,000 $5,000

Accounting
Which of the following is not generally written into the articles of partnership agreement? A. Rights and responsibilities of each partner B. Provisions for admitting new partners C. Amount that each partner is investing D. None of the above D?

Accounting
The first entry to liquidate a partnership would probably include A. a debit to Cash and a credit to Individual Assets Sold. B. a debit to Cash, a debit or credit to Loss or Gain from Realization, and a credit to Individual Assets Sold. C. a debit to Individual Assets Sold and...

Basic Accounting
Pay $3000 toward lease agreement for office. The agreement is for 1year. The rent is 1,500 per month, last months rent was required at time of lease agreement. Lease period is effective July 1st 2014 through jun 30th 2015. I think it's like this: Rent expense 1,500.00 Prepaid ...

Basic Accounting
Pay $3000 toward lease agreement for office. The agreement is for 1year. The rent is 1,500 per month, last months rent was required at time of lease agreement. Lease period is effective July 1st 2014 through jun 30th 2015. I think it's like this: Rent expense 1,500.00 Prepaid ...

Accounting Homework Help!
If a cashier rang up sales totaling $5,098, but had $5,105 to deposit, which journal entry would be recorded? A debit to Cash for $5,105 a credit to Cash Overage for $7 and a credit to Sales Revenue for $5,098. A debit to Sales for $5,105 a debit to Cash Overage for $7 and a ...

Accounting Homework
On October 31, 2015, your company's records say that the company has $18,588.13 in its checking account. A review of the bank statement shows you have three outstanding checks totaling $7,403.37, and the bank has paid you interest of $20.24 and charged you $16.00 in service ...

Accounting (Please Help)
Acme, Inc.'s books show an ending cash balance of $14,500 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $3,900, deposits in transit of $2,900, NSF check of $190, and interest earned on the bank account of $100, the company'...

Accounting (Please Help)
If the company's accountant mistakenly recorded a $78 deposit as $125, the error would be shown on the bank reconciliation as a(n): $47 addition to the book balance. $125 deduction from the book balance. $47 deduction from the book balance. $125 addition to the book balance.

accounting
Tyler Constructions constructed a new campus block to house Business School. The building cost a tool of $180,000,000 to construct and was completed 30 March 2011, with an expected useful life of 60 years and residual value of $10,000,000. The building is depreciated on a ...

accounting
A term investment of 85000, is madr for 10 years at 4.25% interest. Find the value of the investment at maturity if interest is compoundes quarterly?

business accounting
The current liabilities of Mohit Ltd are Rs. 150000 and its current ratio is 3:1 and liquid ratio is 1:1. Calculate the value of current assets, liquid assets and stock of Mohit ltd.

Accounting
When M. Landis invests $20,000 in the corporation in return for shares of stock, is the Retained Earnings account affected? Explain your answer.

Governmental and Not-for-profit Accounting
public colleges and universities are treated as component units of their respective primary governments (cities or states).what is the criteria under GASB Statement No. 14 for a public college or university to be excluded

Accounting
The accounts payable account is a/an _______, and it has a normal ________ balance. A. revenue; debit B. expense; credit C. liability; debit D. liability; credit I think the answer is D.

Accounting
Please help (Revenue Classification) Clark County had the following revenue sources in 2011: General property taxes $8,000,000 Restricted (for education) property taxes 570,000 Meals tax (restricted for economic development and tourism) 200,000 Fines and forfeits 82,000 ...

mathematics, science, accounting
Can a right-angled prism of clear ice be used for total internal reflection of right through 90degrees, bearing in mind that Ice has a critical angle of 48,8degrees?

accounting principles
Success Systems had the following transactions and events in December 2015: Dec. 2 Paid $1,200 cash to Hilldale Mall for Success Systems’ share of mall advertising costs. 3 Paid $500 cash for minor repairs to the company’s computer. 4 Received $7,000 cash from Alex’s ...

Governmental and Not-for-profit Accounting
Despite the guidance provided by Statement No. 14, what might be the three reasons that drive inconsistent application

accounting
paying a fixed monthly fee of $15.00 up yo 240 min then .08 per min if i use less than 240 min still paying 15.00 per mo. based on 100 min 240 min 540 min

investment accounting
You have been hired as a financial consultant to defense electronics,Inc.

Accounting
variable cost, fixed cost, total costif .10 per min long dist calling based on 100 min, 240 min, and 540 min

Governmental and Not-for-profit Accounting
What is a budget? What information should it include?

Project
report on Government /NFP accounting topic of current interest For ex: Municipal Bankruptcy, evaluation of NFP or Government financial Statement or budget. 5 pages MLA format for citations.

Accounting
Please explain how I would go about doing this. Indicate which of the following transactions require entries to accounts used only for budgetary control purposes, even if other accounts also are involved. Prepare the general journal entries required. Assuming a beginning total...

accounting
Under what circumstances should a government choose not to encumber the cost of goods and services? Under what circumstances would a government not integrate its budget? Under these conditions, how is budgetary control achieved?

mathematics for accounting
the question is the formula use in calculating depreciation that is reducing balance method which is (1-n√s/c)×100/1 now we were asked to now make each of n,s,and c in the formula the subject of the formula

ACCOUNTING
WHY SHOULD FINANCIAL STATEMENTS BE PREPARED IN ACCORDANCE TO THE IFRS

Accounting
Aunt Rhea Corporation Income Statement For the Year Ended December 31, 2015 Service Revenue $ 900,000 Operating Expenses 700,000 Net Income before Income Tax $ 200,000 Gain on Investment Sale 10,000 Net income Before Income Taxes $ 210,000 Income Tax Expense 90,000 Net Income...

accounting
Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZZZ Estimated beginning inventory 32,000 units 20,000 units Desired ending inventory 34,000 units 17,000 units Region I, anticipated sales 320,000 units 260,...

Accounting 220
On January 1, 2014, Muoy Machining Co. purchased a compressor and related installation equipment for $72,500. The equipment had a three-year estimated life with a $12,500 salvage value. Straight-line depreciation was used

accounting
assume Ad issue 2000 shares of $ 60 par common stock for cash at $ 50. pass entry for issuance of these shares.

Governmental and Not-for-profit Accounting
Please identify at least five similarities and five differences between government organizations and ONPOs

accounting
bought merchandise on account. Received a two and a half percent trade discount. The gooda were originally marked at 3200 rand (i.e.before the trade discount) which source document will be used and what will the accounting equation be??

Not for profit accounting
Is there a set percent that a not for profit has to give back to their market to be considered not for profit?

mathslit accounting life science tourism
what am I become with these sub guys help plz

accounting
how to calculate depreciation using carrying value method?

Accounting
If not-for-profit GAAP does not address an issue, what other sources of guidance should be used? Under what circumstances should these sources be considered?

Not for profit accounting
Who are the primary stakeholders for most NPOs? Do you think accountability and interperiod equity are more relevant to NPOs than to for-profit organizations? Explain your response. How does transparency apply to NPOs? Do you think transparency is more or less easily attained ...

Accounting
I got this part: Briefly describe and discuss the differences between for-profit organizations and NPOs. I'm not sure how to answer this: Do you believe these differences justify the use of distinct accounting principles for each group? Why or why not?

accounting.economics,business studies,mathslit
It is possible to become a paramedic while doing those subjects?

math literacy, economics,business studie,accounting, isizulu,English, life orientation
I am doing grade 11 in commerce class.and I still don't know my carrier choice. but I realised that am good in electricity stuff this year. so I want to be a electrician now.what I must do??help me out please

accounting
identify your human rights violation or discrimination and axplain in introductory paragraph why you choose the specific human rights violation discrimination.describe the three human rights violation or discrimination you selected, give two example of such violation you found...

pure maths,accounting,economics,business studies
Guys my problem is maths solve x and graphs

accounting
journalize the earning of services $53,000 on account and then additional $45,000 in cash

accounting
Royalties can be earned from allowing others the right to use:

accounting
An employee earns $20 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 55 hours during the week, and that the gross pay prior to the current week totaled $29,000. Assume further that the social security tax rate ...

Accounting
1. If GameStop Corp chose to issue another round of corporate bonds in 2009, how much interest rate should they offer?

maths lit,accounting,business,economics
I want to know about my surbjet if that what kinds of jobs I can get it because I'm confused i want to know it um in grade11

accounting
martin and company purchased a fixed asset on 1/4/2010 for £250000.depreciation is o be provided at 10% annually according to the straight line method. the books are closed on 31wst march every year. prepare fixed asset account and depreciation account for the first three years

Engineering Accounting
A car may be purchased with a $3500 down payment now and 72 monthly payments of $480. If interest rate is 12% compounded monthly, what is the price of the car?

accounting
A business has a rate of return of seven times. At one time the business had an average stock of sh 142,000. The trade discounts allowed was 33.3% of all selling prices to retailers of gross profit. Calculate; (a) cost of goods sold (b) gross profit (c) turnover (d) total ...

Finance
Bell Mountain Vineyards is considering updating its current manual accounting system with a high-end electronic system. While the new accounting system would save the company money, the cost of the system continues to decline. The Bell Mountain’s opportunity cost of capital ...

accounting
a sales goods

Accounting
Use the following information to complete the partial worksheet for Bill’s Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns. Merchandise inventory—ending $10 Store supplies on hand 3 ...

need help!
I posted a question and didn't get it answered, why? The Joseph, Inc. uses the accrual basis of accounting. Joseph's insurance expense account had a $23,000 balance at the end of the year. The prepaid insurance account had a $6,000 balance at the beginning of the year and a $3...

Math
The Joseph, Inc. uses the accrual basis of accounting. Joseph's insurance expense account had a $23,000 balance at the end of the year. The prepaid insurance account had a $6,000 balance at the beginning of the year and a $3,000 balance at the end of the year. How much cash ...

Math, accounting, Business, CAT
What can i study after high school with this subjects?

accounting,economics, mathematics,business studies
Identity three courses or study field you are interested in following after grade 12

accounting
PR 9-6bAmortization and depletion entries Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows: a. On December 31, the company determined that $3,400,000 of goodwill was impaired. b. Governmental and ...

accounting,maths lit,agricultural and economics
What coase should I studie in university?

pure maths, accounting,business studies, economics
Im in grade 10 and i want to write my homework.how to solve for x?

Accounting
Considering all the information you have gathered in a company's balance sheet and income statement, why might this information be important to potential creditors, investors, and employees?

accounting
pido corporation'd general ledger include

accounting
how to calculate the remaining lifespan of 3 trucks owned by a business

Accounting
The income tax rate is 30% on current and is payable in the first quarter of 2014. The pretax income before the preceding adjusting entries is $6,800. The accounts are; Income tax expense Income tax payable. I do not understand this question and what it is asking for. Can you ...

Accounting
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. I need to know the amount of interest on the maturity date, the names of accounts the amount goes under, then I need to find the ...

Accounting
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. I need to find the interest paid on the maturity date, prepare a journal for it, and then make a reversing entry.

Accounting
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. Sorry about not being more descriptive. I need to find the maturity date, prepare a journal for it, and then find the reversing entry...

Accounting
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. I do not understand this question, can you help me out, please.

accounting
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period? estimated level of production. The company also estimated $94,000 of...

Accounting
A music store sells a CD with a wholesale price of $6 for $10.50 and one with a wholesale price of $14.00 for $20.50. If the markup policy for the store is assumed to be linear, find a function r = m(w) that expresses the retail price r as a function of the wholesale price w.

accounting
You are a merchandiser that buys wild widgets from a vendor for $70 each, marks them up, and sells them for $100 each. Journalize the three transactions below.You use the perpetual inventory system and reduce inventory when it is sold. You sell 80 wild widgets to a customer on...

accounting
Net income is $44,400. Administrative expenses are $5,500 and selling expenses is $3,700. Cost of merchandise sold is $27,800. How much is sales, assuming no returns or discounts?

accounting
Net income is $32,400. Administrative expenses are $11,800 and selling expenses are $7,200. Cost of merchandise sold is $61,100. How much is gross profit?

accounting
Specify which of the following cash transactions would have resulted in the $4,100 posting to the account. (You select more than one answer. Single click the box with a check mark for correct answers and double click to empty the box for the wrong answers.) Receiving cash from...

Intermediate accounting
During 2011, Deluxe Leather goods sold 800,000 reversible belts under a new

maths lit,accounting,economics,business studies
I did maths literacy with all the commercial subjects including accounting what course can i take?

economics,english,mathslit,accounting,business,eco
I don't know what to become when I grow up

Accounting
Which of the following is NOT added back to Net Profits After Taxes to produce the numerator in Coverage Ratio? A. profits taxes B. interest on debt C. cost of materials D. depreciation

Accounting 100
a) Purchased equipment on account for $950 b) Paid $600 on equipment purchased in transaction (a) How do I post (b) to the journal?

Basic Statistics
home / study / questions and answers / math / statistics and probability / the manager of a vacation resort has claimed that, ... Question The manager of a vacation resort has claimed that, on average, a guest spends at least $1600 at the resort during a one week stay, ...

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Homework Help: Business