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Accounting: Pension and Post Retirement Benefits

Please help me so I can complete the following assignment: If you should look at SFAS No. 87 and SFAS No. 106. and examine the similarities and differences between pension accounting and other post retirement benefits accounting. Annual Pension Costs Accounting treatment of the components of pension costs are: - Service co

Accounting for Franchise, Patents, and Trade Name: Haerhpin Corporation

Information concerning Haerhpin Corporation's intangible assets is as follows. 1. On January 1, 2007, Haerhpin signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial franchise fee of $75,000. Of this amount, $15,000 was paid when the agreement was signed, and the balance is payable in 4 annu

Economic Consequences and Loss Contingency

If you should look at FAS No. 142: Goodwill and Other Intangible Assets, represents a significant expansion of business valuation into the financial reporting framework. It is currently implemented in conjunction with FAS No. 141: Business Combinations. Finance and accounting professionals in reporting and non-reporting companie

SFAS and APB Opinion

They say SFAS No. 96 required deferred asset and liability accounts. In line with the asset-liability approach, it also required the use of future enacted tax rates and adjustment of deferred asset and liability accounts if tax rates changed. APB Opinion No. 11 used only current rates and no change in deferred debit and credit a

Picos Printers, Inc - Contribution Margin Income

I need assistance with the attached assignment. Thanks in advance for your time and assistance! Pecos Printers, Inc. is a small manufacturing firm in Houston, Texas that manufactures color ink jet printers for the small business market. You are to prepare a 3 to 5 page report with an analysis of Pecos Printers business an

Accounting for Uncollectible Receivables

The trial balance of Marchant's Sporting House, Inc., shows a $150,000 outstanding balance in Accounts Receivable at the end of 2005. During 2006, 80% of the total credit sales of $3,500,000 was collected, and no receivables were written off as uncollectible. The company estimated that 2.0% of the credit sales would be uncollect

La Fiesta Mexican Restaurant

Need a paragraph for each explanation in your own words (not word for word from a website) La Fiesta Mexican Restaurant is a family-owned business located at One Plaza Place, Springfield, MO, 63120, incorporated on January 1, 2006, electing S status, and began business soon thereafter. The owners are Jose Rodriguez, President;

Reasons for issuing FASB Statement No.144

Analyze the reason(s) for issuing FASB Statement No. 144 and compare and contrast the accounting information on this statement, Statement No. 121, and Accounting Principles Board Opinion (APB) # 30. DISCUSS THESE; (1) Analysis of the reason(s) for issuing FASB Statement No. 144 (2) Differences among FASB Statement No. 144

Weller Company: Predetermined Overhead Rates

Please see attached problem for properly formatted charts. Weller Company's flexible budget for manufacturing overhead (in condensed form) follows: Overhead Costs Cost formula Machine hours (per machine hour) 8,000 9,000 10,000 Variable cost $1.05 $8,400 $9,450 $10,500 Fixed cost 24,800 24,800 24,8

Purchase Production - NEC Company

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

Net Operating Income - LLC Corporation

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

Opportunity Costs in Acquisitions

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

Split off point - Wallace Company

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

Calculating Production Runs

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.

FASB and EITF pronouncements dealing with extraordinary items.

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

Flexible Budgets

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

Flexible Budgets - Hardball Corporation

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 - Streuling Company

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 . . .

Standard Costs: Dana Corp's Operations

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

Sources of Operating Leverage

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

Stock Sale - ABC Corp. acquired a 15% interest in XYZ, Inc.

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.

Internal controls for plant assets

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

Accounting Internships: A Win-Win Arrangement

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

Realization, Matching, Materiality

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