A three-month Treasury bill and a six-month bill both sell at a discount of 10 percent. Which offers the higher annual yield?
NEC Company produces 8,000 part each year, which are used in the production of one of its products. The unit product cost of part is $36, computed as follows: Variable Production Costs .......... $16 Fix Production Costs ............... 20 Unit Product Cost .................. $36 The parts can be purchased from an o
Please verify my answer. LLC Corporation has received a request for a special order of $6,000 units of product Z50 for $21.20. Product Z50's unit product cost is $16.20, determine as follows: Direct Materials ........... $6.10 Direct Labor ............... $4.20 Variable Manufacturing Overhead ................... $2.30 F
Company X is a four year-old advertising agency that has grown rapidly in the last two years. The company specializes in marketing for professional and semi-professional sports teams, but in the last two years they have branched out to additional markets, such as fitness clothing, energy foods, and sports equipment. Company X
Please see attached problem. Wallace Company produces two products from a common input. Data relating to the two products are given below: Product A Product B Sales value at the split off point.... $60,000 $120,000 Allocated joint product costs... $45,000 $90,000 Sales value after further processing... $90,00
Details: You have just met with the Director of Purchasing. He has been attempting to reduce his costs by placing fewer, but larger, orders for raw materials. You suspect that his department's actions have been contributing to your organization's high COS. Your assignment is to calculate the EOQ/ELS for the following two cases.
Several FASB and Emerging Issues Task Force (EITF) pronouncements deal with accounting for extraordinary items. If you should search the Financial Accounting and Reporting Section (FARS) database and the Financial Accounting Standard Board (FASB) Web site to identify the FASB and EITF pronouncements dealing with extraordinar
Please see attached problem. Item Cost Formula Utilities... $6,000 per year, plus $0.30 per machine hour (MH) Supplies... $10,000 per year, plus $0.80 per machine hour Depreciation... $25,000 per year Indirect labor... $21,000 per year, plus $0.40 per machine hour Using these cost formulas, complete the following f
Hardball Corporation uses the following cost formulas in its flexible budget for manufacturing overhead: Item Cost Formula Utilities... $6,000 per year, plus $0.30 per machine hour (MH) Supplies... $10,000 per year, plus $0.80 per machine hour Depreciation... $25,000 per year Indirect labor... $21,000 per year, plus $
Net Income A summary of the operations of Streuling Company for the year ended May 31, 2006, is shown below. Advertising expense . . . . . . . . . $ 2,760 Supplies expense . . . . . . . . . . . 37,820 Rent expense . . . . . . . . . . . . . . 1,500 Salaries expense . . . . . . . . . . . . 18,150 Miscellaneous expense . . .
Please assist with the attached problem. Selected data relating to Dana Corp's operations for April are given below: Number of units produced.... 500 Units Number of actual direct labor hours worked... 1,400 Hours Total actual direct labor cost.... $10, 850 The standard cost card indicates that 2.5 hours of di
List the steps involved in selecting and evaluating a non-statistical or a statistical sample for tests of controls. Identify the professional judgments that must be made associated with each step.
1.What are the sources of operating leverage and financial leverage and explain their impact on operating and net income? 2.Mini Case: Your organization (a not for profit group) is considering hiring a professional fund raise to assist in selling raffle tickets. This consultant is going to charge $10,000 (fixed cost) plus 45
In Year 2, ABC Corp. acquired a 15% interest in XYZ, Inc., for $50,000. During the year, XYZ paid dividends of $10,000 and had net income of $30,000. ABC sold the shares of XYZ for $65,000 cash. What entry will ABC make to record the sale? Please see the attached word file.
Can you please explain the distinction between Form W-3 and Form W-4 and the purpose of each and what are pretax salary reductions?
Can you please explain the distinction between Form W-3 and Form W-4 and the purpose of each and what are pretax salary reductions? What effect do pretax salary reductions have on the federal income tax withholding? Can you give me an example of a pretax reduction.
Harris, CPA, has accepted an engagement to audit the financial statements of Grant Manufacturing Co., a new client. Grant has an adequate control environment and a reasonable segregation of duties. Harris is about to assess control risk for the assertions related to Grant's property and equipment. Required Describe the key i
The solution to thirteen questions from principles of Accounting. Each answer is marked with explanations and sources for referencing.
1. A company receives a 10%, 90-day note for $1,500. The total interest due on the maturity date is: A. $ 50.00 B. $150.00. C. $ 75.00. D. $ 37.50. E. $ 87.50. 2. A company borrowed $10,000 by signing a 180-day promissory note at 11%. The maturity value of the note is: A. $12,050 B. $12,275 C. $10,550 D
Please summarize the following article in 2 pages or less (12 font double spaced): "Accounting Internships: a win win arrangement" By VanSyckle, Larry D. http://www.allbusiness.com/human-resources/careers-job-training/440653-1.html
Define and explain the following accounting concepts: - Entity - Money Measurement - Going concern - Cost - Dual Aspect or Dual Accounting - Objectivity - Time period - Conservatism - Realization - Matching - Consistency - Materiality
Hello, Help me with the attached problem Please. Thanks MAPLE PRODUCTS, LTD. Direct Materials Price and Quantity Variances for Last Year Standard quantity of materials per hockey stick: Direct materials added to work in process Standard direct materials cost per foot Standard
Define the following: - Accounts - General ledger - Journal entry - Asset - Liability - Equity - Define debit and credit and explain how they work.
1-What is the difference between the dissolution of a partnership and the liquidation of partnership property? After liquidating all property and paying partnership obligations, what is the basis for allocating remaining cash among the partners? 2-When a partner withdraws from a partnership, why is the final distribution ofte
The treasurer of Gould's Stores, Inc., was interested in what effect, if any, new credit terms have had on collections of customer accounts. The usual 30-day payment period was shortened to 20 days in an attempt to reduce the investment in accounts receivable. The following information for the current year and the preceding ye
(Payroll Tax Entries) The payroll of Auber Corp. for September 2008 is as follows: Total payroll was $495,000. Pensionable (CPP) and insurable (EI) earnings were $375,000. Income taxes in the amount of $90,000 were withheld, as was $9,000 in union dues. The employment insurance tax rate was 1.80% for employees and 2.52% for empl
Month X-Rays Taken X-Ray Costs January...... 6,250 $28,000 February..... 7,000 29,000 March........ 5,000 23,000 April........ 4,250 20,000 May.......... 4,500 22,000 June......... 3,000 17,000 July......... 3,750 18,000 August.......
Present your opinion on whether generally accepted accounting principles can apply to both large public companies and smaller non-public companies. Why, or why not? Be specific. Please include any websites that I can follow up with thank-you.
Rental receipts (cash) received $43,000 Cash paid for insurance $ 5,000 Cash Paid for taxes $ 6,000 Cash received from sale of used equipment $11,000 Of the rental receipts collected, $2,000 was reported as rent r
Hello, I am reading through my text book and am hoping for some help with three questions that correspond with a case. My instructor indicates that for my midterm, it will be very similar to this case analysis. We are to provide the following by answering the questions. The questions do not have to be answered in order. Ra
Equipment was purchased for $100,000 and has a book value of $44,000 and a depreciable cost of $76,000. The estimated salvage value is
I need the correct answers for the practice exam to check my answers. This will help me study for the exam next week. See attachment for the practice exam. MULTIPLE CHOICE 1. Equipment was purchased for $100,000 and has a book value of $44,000 and a depreciable cost of $76,000. The estimated salvage value is a. $44,0
Coca-Cola's Latin American segment had revenues of $2,089 million, operating income of $1,033 million, and average assets of $1,443 millions.
Can anyone assist with these review questions so that I can bounce them off your experience? Thanks! 1. Coca-Cola's Latin American segment had revenues of $2,089 million, operating income of $1,033 million, and average assets of $1,443 millions. The Latin American segment return on assets is: A. 49.4% B. 69.0% C. 7