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Accounting

Accounting Homework

5.) The following information is available for the Avisa Company for the month of November: (a.) On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $27,202. (b.) The company's bank statement shows a balance on November 30 of $29,279. (c.) Outstanding che

Sunset Products: Return on Investment (ROI) and Residual Income

Please respond in Microsoft Word, ".doc". "I know headquarters wants us to add that new product line," said Pete Johnson, manager of Sunset Products' East Division. "But I want to see the numbers before I make a move. Our division's return on investment (ROI0 has led the company for three years, and don't want any letdown."

Multiple choice accounting questions

1. If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount to be used for purposes of inventory valuation is A) net realizable value. B) original cost. C) market value. D) net realizable value less a normal profit margin. 2. Which of the following b

Teleworking

In considering the following situation, what would you consider as 3 viable courses of action that could possibly achieve the desired outcome stated below? Problem: Federal agencies have not achieved the level of involvement of employees in telework as required by law. Effect of the Problem: The hesitancy to embrace tele

Camp Gear Factory Produces Two Products - Canopies and Tents

The Camp Gear Factory produces two products - canopies and tents. It has two separate departments - cutting and sewing. The budget for the cutting department is $350,000 and $400,000 for the sewing department. Each canopy will require 2 hours of cutting and 1 hour of sewing. Each tent will require 1 hour of cutting and 6 hour

Report gross profit

Reese Construction Corporation contracted to construct a building for $1,500,000. Construction began in 2007 and was completed in 2008. Data relating to the contract are summarized below: Year Ended Dec. 31

Percentage-of-Completion Gross Profit

On February 1, 2007, Nance Contractors agreed to construct a building at a contract price of $6,000,000. Nance estimated total construction costs would be $4,000,000 and the project would be finished in 2009. Information relating to the costs and billings for this contract is as follows: Total costs incurred to date $1,500,

Straightforward Computation of Overhead Variances

* Attached picture is a scan of the full problem. I am looking for direction as to how to complete this problem. I am not very good with managerial accounting. Starlight Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate $18.00 per direct-labor hour Standard quantit

Use Double-Decling-Balance Method to Depreciate a Machine

See the attached file. 1. On January 2, 2008, Sahara, Inc. purchased a silkscreen machine for its new clothing line. Sahara incurred the following costs related to the machine: Purchase price .............................................................. $120,000 Freight charges for delivery from manufacturer to Sahara

What is the purpose of sampling?

What is the purpose of sampling? What are some of the concerns and dangers of sampling? How important is the sample design to the validity of your data? Explain. Provide an example where a sample could misrepresent the validity of the data.

Optimal Risky Portfolio

Consider a Treasury Bill with a rate of return of 5% and the following portfolios, which have been created by 2 stocks, S1 and S2: Portfolio A: The weight for S1 and S2 = 0.2 and 0.8; Expected return = 0.15; Standard Dev.= 0.24 Portfolio B: The weight for S1 and S2 = 0.4 and 0.6; Expected return = 0.18; Standard Dev.= 0.3

Operating income

From the data below, calculate operating income for the year ended December 31, 2008 R & D = $86,000 Loss from discontinued operations = 34,000 Provision from income taxes = 68,000 Net sales = 1,022,000 Interest expense = 72,000 Net cash

Dependents and Qualifications

Bob and Jane Kelso file a joint tax return. The couple's AGI averages $500,000. Consequently, their total exemption amount is subject to the maximum reduction. The Kelsos provide about 90 percent of the financial support for their 20-year-old daughter, Brenda, who is a junior at San Diego State University. This year, their daug

Lockboxes

Bird's Eye Treehouses, Inc., a Kentucky company, has determined that a majority of its customers are located in the Pennsylvania area. It therefore is considering using a lockbox system offered by a bank located in Pittsburgh. The bank has estimated that use of the system will reduce collection time by two days. Based on the fol

Special promotion- expects of a 1 cent sale.

See attached file. The management of Rocko's Pizzeria is considering a special promotion for the last two weeks of October, which is normally a low demand period. The special promotion would involve selling two medium pizzas for the price of one, plus 1 cent. The medium pizza normally sells for $ 12.99 and has variable expen

Evaluting an overhead report

Bill Jones, Superintended of Griggs Company's Milling Department, is very happy with his performance report for the past month. The report follows: Griggs Company Overhead Performance Report-Milling Department Actual Budget Variance Machine hours 30,000 35,000 Variable manufacturing overhead: Indirect labor

Preparing an overhead Performance Report

Don's company has a comprehensive budgeting system in operation for several years. Feelings vary among the managers as to the value and benefit of the system. The line supervisors are very happy with the reports being prepared on their performance, but upper management often expresses dissatisfaction over the reports being prepa

Adjusting Accounts

This should be an easy fix for anyone with accounting experience. I have two attachments. The first attachment is called problem and that will guide you. The second attachment is the same template used in a very similar question but with different numbers and company name. Make the necessary changes on the excel sheet using the

Calculate: Long-term Financing and Total Debt

At year-end 2007, total assets for Bertin, Inc. were 1.2 million and accounts payable were $375,000. Sales, which in 2007 were $2.5 million, are expected to increase by 25% in 2008. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Bertin typically uses no current liabilities

A tutorial that explains how to calculate the Equilibrium price of a product, cross price elasticity of demand, Income elasticity of Demand and Elasticity of Demand. The tutorial also explains how to determine the exogenous and endogenous variables in a function.

1. Suppose the market demand curve for a Product is given by Q = 250 - 5P and the market supply curve is given by Q = -50 + 25P. 1. What are the equilibrium price and quantity in this market? 2. At the market equilibrium, what is the price elasticity of demand? 3. Suppose the price in this market is $8. What is the amou

Tax provision problem

This is a discussion question about tax provisions. A paragraph will be enough. Please explain the solution in your own words. If there is a tax provision pending before Congress that will negatively effect a transaction of a client, what would you advise your client to do? In this environment, I would advise my client to

Acc Multiple choice questions

1. Which of the following is the most appropriate and modern definition of accounting? A) The information system that identifies, records, and communicates the economic events of an organization to interested users B) A means of collecting information C) The interconnected network of subsystems ne

Accounting reporting criteria

The historical cost vs fair market value relating to national and international companies. There are four components. 1. Defining historical cost 2. Defining fair market value 3. historical cost vs. fairmarket value ( based on accounting reporting criteria) 4. comparing and contrasting accounting reporting criteria of a co

3 problems

Items 8-A1, 8-A3, and 8-26 (circled). Please show all work/calculations. Any questions you may have will get quick responses. thanks! 8-A1 Flexible and Static Budgets Burton Transportation Company's general manager reports quarterly to the company president on the firm's operating performance. The company uses a budget