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Accounting

Financial Statements: Fill In The Blanks

I need to provide 4 financial statement, income statement, retained earnings, balance sheet, and cash flows, based off of the following numbers: Item Year2 Year1 Accounts Receivable 1190 1182 Accruals 429

Controlled Groups and Brother-Sister Corporations

Which of the following groups constitute a controlled group? (Any stock not listed below is held by unrelated individuals each owning less than 1% of the outstanding stock). For brother-sister corporations, which definition applies? a. Mark owns 90% of the single classes of stock of Hot and Ice Corporations. b. Johnson and C

Balance Sheet for Raider Corporation

Monte and Allie each own 50% of Raider Corporation, an S corporation. Both individuals actively participate in Raider's business. On January 1, Monte and Allie have adjusted bases for their Raider stock of $80,000 and $90,000 respectively. During the current year, Raider reports the following results: Ordinary loss

PepsiCo Inc. Coca-Cola Company annual report analysis

Review the 2005 and 2004 annual reports for PepsiCo Inc and The Coca-Cola Company. Compare the two companies and provide recommendations to improve their financial status. Include an introduction, a vertical and horizontal analysis and classic ratios for liquidity, solvency, and profitability in your analysis for 2005 and 2

Sales and Exchanges of Real Estate

Please check my answers to the following questions. Question 1: When real estate is sold and a mortgage is involved, how is the amount realized on the sale determined? Answer: Amount realized. The amount realized from a sale or exchange is the total of all money received plus the FMV of all property or services received

Reebook Realflex Activity-based Cost first stage allocation

Activity-based Costing (ABC) ReebookRealflex produces shoes for circuit training and walking. Recently, the management of the company has decided to adopt the activity-based costing system and has identified three activity cost pools. Information on its annual overhead costs and the activity cost pools are as follows: Activ

Determining corporate strategy from annual reports

Review an annual report of a popular company ie. Target, Kohl's Bass Pro shops, and answer the following questions with references: 1. From the annual reports you previewed, what is the company's corporate strategy? What are their company goals and were they successful in achieving those goals? 2. Would you invest in the

ENRON SPEs

Enron Corporation's 2001 third-quarter 10-Q report disclosed the following transaction with LJM2, a nonconsolidated special purpose entity (SPE) that was formed by Enron: In June 2000, LJM2 purchased dark fiber optic cable from Enron for a purchase price of $100 million. LJM2 paid Enron $30 million in cash and the balance i

Manufacturing costs, labour costs and budgeting

A) At The Peak, Inc., manufactures scientific calculators. Costs incurred in making 25,000 scientific calculators in April included $ 85,000 of fixed manufacturing overhead. The total absorption cost per scientific calculator was $ 12.50. Required: a. Calculate the variable cost per scientific calculator. b. The ending in

Impacts of Unethical Behavior

Research a company that has been in the news for unethical practices, such as Enron, Tyco, Global Crossing, or WorldCom. Summarize your ideas about the following: What was the nature of the controversy regarding this company's practices? How were accounting practices involved? If you had been an accountant for this com

Debts and Equity Securities

You have just joined a CPA firm. Your manager is impressed with the recommendations that you provided on the reporting of securities for the client. He comes in and says "You did a great job! The client was thrilled with the recommendations." Your manager has another consulting assignment. He asked you to prepare for him the en

Enterprise funds

How would you compare the accounting for enterprise funds with that of (a) businesses and (b) governmental funds? Summarize the reasons both for and against accounting for enterprises funds differently than governmental funds and include an example of an enterprise with regards to this.

Indirect labour hour calculations

In the past, TTTH Inc. allocated indirect manufacturing costs based on direct labor hours. Recently, management has decided to pilot a system of time-driven activity-based costing (TDABC) to allocate these costs. The division produces three engine models: Basic, Sport, and Heavy Duty. Acme employs 300 employees to perform indire

Develop the cost function by High-Low method.

Machine hours and electricity costs for Wells Industries for 2011 were as follows: Machine Electricity Month Hours Costs January 2,000 $ 9,200 February 2,320 10,500 March 1,520 6,750 April 2,480 11,500

ROI and Economic Profit Calculations

10-A1 ROI and Economic Profit Calculations Consider the following data (in thousands) : (see the attached table) 1)For each division, compute the return on sales, the capital turnover, and the return on investment (ROI) 2)Which division is the best performer if evaluation is based on ROI? Explain. 3)Suppose each division

Zipper Company: Costs and overhead activities

Zipper Company has identified the following overhead activities, costs, and activity drivers for the coming year: (see attached table) Zipper produces two models of sewing machines with the following expected prime costs and activity demands: (see attached table) The company's normal activity is 4,000 direct labor hours.

Variable Cost Assessment

The MedView brochure said, "Only 45 scans per month to cover the monthly equipment rental of $18000." *The footnote at the bottom of the brochure read: *"Assumes a reimbursable fee of $475 per scan." The MedView brochure refers to a new radiology imaging system that MedView rents for $18000 per month. A "scan" refers to one i

Major Funds

Using a Governmental Agency or Not-for-Profit organization identify what are considered to be its major funds? In what key ways are major funds reported differently than non-major funds?

Career Opportunities for Accountants

1. Describe two business sectors you might want to work in if you were an accountant and explain why in 150 to 200 words. 2. Research a specific company in one of the business sectors that interests you and describe how you imagine it might be to work there.

Assessing Key Productivity Measurements

9-48 In early 20X1, United Communications, a U.S.-based international telephone communications company, purchased the controlling interest in Bucharest Telecom, Ltd. (BTL) in Romania. A key productivity measure monitored by United is the number of customer telephone lines per employee. Consider the following data for United:

Burton Transportation Company: Flexible and Static Budgets and variances

8-A1 Burton Transportation Company's general manager reports quarterly to the company president on the firm's operating performance. The company uses a budget based on detailed expectations for the forthcoming quarter. The general manager has just received the condensed quarterly performance report shown in Exhibit 8-10.

Analyzing Pro Forma Statements

Instructions Decide upon an initiative you want to implement that would increase sales over the next five years, (for example, market another product, corporate expansion, and so on). Using the sample financial statements, create pro forma statements of five year projections that are clear, concise, and easy to read. Be su

CFO memo: predetermined overhead rates, applied overhead

Data for month ending 1/31/200X Direct labor expended on jobs completed in month 1 $100,000 Direct material used up $500,000 Budgeted manufacturing overhead $2,000,000 Budgeted production volume 4,000 units Actual production volume 4,500 units Supplies, indirect labor, maintenance repair costs totaled $2,200,000 Beginning

Percentage of sales vs. Percentage of Receivables

What is the difference between using the percentage of sales and percentage of receivables method for calculating doubtful accounts? Is it appropriate to use a hybrid of the percentage of sales and the percentage of receivables methods of calculating? Do generally accepted accounting principles allow for using both methods at th

The CAPM

Olter, Inc. is starting its risk management program for the company and has asked for your help in determining critical risk measurements for the firm. The company has identified several factors in the market that they believe are critical for your tasks: •The risk-free rate is 6% •The required return on the average stoc

The Best-Case Scenario

Olin Transmissions, Inc., has the following estimates for its new gear assembly project: price = $3,000 per unit; variable costs = $600 per unit; fixed costs = $1.8 million; quantity = 90,000 units. Suppose the company believes all of its estimates are accurate only to within ±20 percent. What values should the company use for

Corporate Annual Report NIKON

Using the 2012 annual report for NIKON: 1. Analyse the major areas of the report. 2. Discuss the key factors that determined the company's financial performance during the year. 3. Discuss what the primary assets held by the company are. 4. Demonstrate how management portrays the internal control environment of NIKON.

Noncontrolling interest in net income: Lance Co 2011

C3. On January 1, 2010, Mace Co. acquired 75% of Lance Co.'s outstanding common stock. On the same date, Lance acquired an 80% interest in Curle Co. Both of these investments were acquired when book value was equal to fair value of identifiable net assets acquired. Both of these investments were accounted using the initial value