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Accounting

Barnes and Nobles- Investments and Revenue Recognition

Please see attached. Thank you. Week 3- Investments & Revenue Recognition 1. On the third tab of your Excel file, report on the investments your company has and their dollar amounts. Also report the amount of interest, dividends, and gains on sale of investments that occurred in the most recent year. Be sure to include any inv

Break even point in terms of sales and income

A company manufactures a generator.in one year it sold 850 at a price of £350 each.the variable costs were £200 per generator and the fixed cost were £60000.what is the break even point in terms of sales and income?

Need help z-calulator

Explain in detail how you arrived at the answers. 1.The graduate selection committee wants to select the top 10% of applicants. On a standardized test with a mean of 500 and a standard deviation of 100, what would be the cutoff score for selecting the top 10% of applicants, assuming that the standardized test is normally dis

Costs can be classified into two categories, fixed and variable costs

Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650

EPS

Last year Mason Corp's earnings per share were $2.50, and its growth rate during the prior 5 years was 9.0% per year. If that growth rate were maintained, how many years would it take for Mason's EPS to double?

Transactions of Operations Graham Co

Holden Graham started the Graham Co a new buisness that began operations on may 1. The graham co completed the following transactions during its first month of operations. May 1 H. Graham invested $43,000 cash in the business in exchange for common stock. 1 Rented a furnished office and paid $2,200 cash for May's rent. 3 Pu

Calculate the amount available at the end of 12 years

After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, yo

Stock Price Ex Dividend Date

Annas Pretzels announced that on May 1, 2004, that it will pay a dividend of $5.00 per share on June 15 to all holders on record as of May 31st. The firm's stock price is currently at $70 per share. Assume that all investors are in the 33% tax bracket. Given that the ex-dividend date is May 29, what should happen to Anna's stock

Evaluating Profit and Investment Preformance

Ricky Bobbie, the managing partner of the law firm Bobbie, Bagan, and Clark, LLP, makes asset acquisition and disposal decisions for the firm. As managing partner, he supervises the partners in charge of the firm's three branch offices. Those partners have the authority to make employee compensation decisions. The partners' comp

Capital gain transactions

1)How do capital transactions differ from ordinary transaction types? Should the maximum capital loss carryforward / carryback be increased substantially? By what amount? 2)How do capital gains and losses affect taxable income?

Real After-Tax Return Requirement

Question: Formulate the return objective for John Ribbon, who is planning to retire in 5 years. John's current spending needs of $120,000 per year are currently met by his salary, which is indexed to inflation. John expects to continue his current lifestyle even after his salary stops. Assume that inflation is expected to be 3

Corporate Quarterly Statements of Income

The unaudited quarterly statements of income issued by many corporations to their stockholders are usually prepared on the same basis as annual statements, their statement for each quarter reflecting the transactions of that quarter. Required: a. Why do problems arise in using such quarterly statements to predict the income

Accounting: Activity Based Costing

Pitney Corporation manufactures two types of transponders?no. 156 and no. 157?and applies manufacturing overhead to all units at the rate of $76.50 per machine hour. Production information follows. No 156 No 157 Anticipated Volume (Units) 6,000 14,000 Direct material cost

Weighted-Average Method to Determine Costs and Equivalent Units

On May 1, Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850. During the month, 150,000 units were completed and transferred to finished goods. The May 31 ending work-in-process inventory consist

Transaction analysis - various accounts

Prepare an answer sheet with the following coumn headings. For each of the following trasactions or adjustments you are to indicate the effect of the transaction or adjustment on assets, liabilities and net income by entering for each account affected the account name and amount indicating wheather it is an addition or subtract

Accounting for S&R Rentals

1. S&R Rental's rents and services different types of yard-improvement equipment. Information about the company's financial performance is provided below: Average shares outstanding $15,000 Cost of goods sold $44,000 Debt outstanding

Corporation Overhead Application

XYZ Corporation uses a job-cost system and applies manufacturing overhead to products on the basis of machine hours. The company's accountant estimated that overhead and machine hours would total $800,000 and 50,000, respectively, for 20x1. Actual costs incurred follow. Direct Material Used $250,000 Direct Labor

Process Costing System and Departmental Production Report

Question 1: Forever Green Co. manufactures artificial Christmas trees. In 2004, Forever Green only produced one type of tree, the Merry Green Tree. However, in 2005 Forever Green introduced a new, top-of-the-line product, the Green as can be Tree. The two products require different materials and are manufactured in separate ba

Categorizing accounting tasks

Analyzing and interpreting information classifying economic events explaining uses, meaning, and limitations of data keeping a systematic chronological diary of events measuring events in dollars and cents preparing acconting reports reporting information in a standard format summarizing economic events accounting is a

Effect of each transaction on assets

1. sold common stock for cash to start business 2. Paid monthly rent 3. purchased equipment on account 4. billed customers for services performed 5. paid dividends 6. received cash from customers billed in (4) 7. incurred advertising expense on account 8. purchased additional equipment for cash 9. received cash from cust

Amount of Interest Expense to Be Reported

A government has general obligation serial bonds outstanding at December 31, 2006, and December 31, 2007. Interest is paid at the end of April and October. The governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances reports interest expenditures of $500,000 for 2007. Interest payable but not yet du

Accounting effects of product recall

This is the question: Research a company which has recently had a product recalled. Explain the purpose of the recall and the accounting effects. I went to: http://www.recalls.gov/recent.html and chose: US Consumer Product Safety Commission - Recent Recalls and Product Safety News Byer California Recalls Girls' Jackets w

Payroll Tax Entries

I need to double check my answers with a professional. Thank you. Please see attached. Allison Hardware Company's payroll for November 2010 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due F.I.C.A Federal State Factory $140

EBIT-EPS and perferred stock

EBIT-EPS and preferred stock Litho-Print is considering two possible capital structures, A and B, shown in the table at the top of the facing page. Assume a 40% tax rate. Source of capital Structure A Structure B Long-term debt $75,000 at 16

Capacity utilization - Mantle Company

Mantle Company has met all production requirements for the current month and has an opportunity to manufacture additional units with its excess capacity. Unit selling prices and unit costs for three product lines follow. Plain Regular Super Selling price $30.00 $43.00 $40.00 Direct material

Budgeted vs actual costs (Hempstead Corporation)

Hempstead Corporation plans to manufacture 8,000 units over the next month at the following costs: direct materials, $480,000; direct labor, $60,000; variable manufacturing overhead, $150,000; and fixed manufacturing overhead, $300,000. The last amount, which includes $24,000 of straight-line depreciation, resulted in a total bu

Journalize and Post Transactions and Income Statements

VICTORIA CONSULTING, INC. INSTRUCTIONS: Complete the following steps in the order given. 1. Journalize and post the transactions noted below for Victoria Consulting, Inc. during the firm's first month of business. Note: Use the account titles and numbers in the chart of accounts provided and round all calculations to the n

Step by Step solutions

1.On December 31, 2007, Shard Co. has $2,000,000 of short-term notes payable due on February 14, 2008. On January 10, 2008, Shard arranged a line of credit with County Bank which allows Shard to borrow up to $1,500,000 at one percent above the prime rate for three years. On February 2, 2008, Shard borrowed $1,200,000 from County

Multiple Choice: Depreciation

1. Harris Corporation purchased factory equipment that was installed and put into service January 2, 2006, at a total cost of $60,000. Salvage value was estimated at $4,000. The equipment is being depreciated over four years using the double-declining balance method. For the year 2007, Harris should record depreciation expense