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    Computing TIE and AFN: Formula to Forecast Funds

    Question 1: The following shows some information related to ABC Company. Total debt outstanding $300,000 Annual Interest Rate 5% Annual Revenues $1,000,000 Average tax rate 35% Net profit margin on revenues 10% What is the company's TIE (times-interest earned)? Question 2: ABC Company's sales are expected

    Cost, Discretionary Cost, Revenue, Profit and Investment Centers

    Can you help me get started on this assignment? Identify each of the following as a cost center, a discretionary cost center, a revenue center, a profit center, or an investment center: a. The manager of center A is responsible for generating cash inflows and incurring costs with the goal of making money for the company. Th

    Long-Term Goals in Accounting Departments

    Can you help me get started on this assignment? Assume that you work in the accounting department of a small wholesale warehousing company. Inspired by a recent seminar on budgeting, the company's president wants to develop a budgeting system and has asked you to direct it. Identify the points concerning the initial ste

    Budgetary Control: Approach to Budgetary Control

    Toby Andres owns a tree nursery. She analyzes her business's results by comparing actual operating results with figures budgeted at the beginning of the year. When the business generates large profits, she often overlooks the differences between actual and budgeted data. But when profits are low, she spends many hours analyzi

    Budgets - Department in a Discount Department Store

    Sam Zubac is the manager of the show department in a discount department store. During a recent meeting, Zubac and his supervisor agreed that Zubac's goal for the next year would be to increase the number of pairs of shoes sold by 20 percent. The department sold 8,000 pairs of shoes last year. Two salespersons currently work

    Accounting: Chart of accounts, equation, journal, ledgers. debits, credits

    1) In a typical chart of accounts, liabilities start with a _______ and expenses start with a _____ Possible answers are (a) 2,4 (b) 1,3 (c) 2,5 (d) 1,4 2) A business makes a principle payment of cash on a note payable. The note payable was originally issued for the purchase of equipment. Which of the following occurs?

    System Integrity and Validation

    - Which CAAT are the best to use for Kudler Foods Fine? - Describe how the selected computer assisted auditing techniques will be used to validate data and system integrity within the system. - Explain the functions of audit productivity software. - Explain how audit productivity software might be used in the four systems d

    Transfer of Property to Corporation in Exchange for Stock

    Sam Rogers forms a corporation. Sam transfers to the corporation property having a basis to him of $15,000 and a fair market value of $27,000 for 900 shares of the $10 par stock of the corporation. A year later, Bill Morrison, who is not related to Sam, transfers property having a basis to him of $1,000 and a fair market value

    Internal control weaknesses in church cash collection procedures

    P7-2B The board of trustees of a local church is concerned about the internal accounting controls pertaining to the offering collections made at weekly services. They ask you to serve on a three-person audit team with the internal auditor of the university and a CPA who has just joined the church. At a meeting of the audit team

    Calculate a payroll in Excel for a computer repair business

    See attached file. 1. The Orange colored cells on the worksheet indicate places where you will put in the formulas and functions. 2. Calculate the total Gross Pay for each employee. Keep in mind that employees are paid time and a half for all over-time hours. Here is an example formula that demonstrates how you would make

    Zillman Co.

    Presented below is an aging schedule for Zillmann Company. Number of Days Past Due Customer Total Not Yet Due 1-30 31-60 61-90 Over 90 Arndt $23,410 $11,220 $12,190 Blair 40,360 $40,360 Chase 61,890 17,720 7,060 $37,110 Drea 36,430 $36,430 O

    What is tax research?

    What is tax research? What is the purpose of conducting tax research? Are results of tax research conclusive? Why or why not?

    Tax issues for Don and Jane in withdrawing money

    The ABC Company was incorporated (as an LLC) two years ago. The success of the company is exceeding the owners' expectations. The land owned by the company is used as a site for special events and parties. The rental income from the events and fees for services rendered at these events are substantial for a new business. The

    Job Cost Accounting: Harris, Inc and Jobs 78 and 79

    Harris, Inc., has just completed job nos. 78 and 79, which were similar in terms of complexity, production processes, and units manufactured. Job no. 78 was manufactured by Joe Barton who earns $14 per hour, whereas job no. 79 was completed by Susan Franklin who earns $20 per hour. If Joe and Susan are equally efficient, would t

    Britternman (Nitterman) eliminate the Big Bart lin of golf clubs

    Britterman, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $5,000 from sales $200.000, variable costs $175,000, and fixed cost $30,000. If the Big Bart line is eliminated, $15,000 of fixed cost will remain. Prepared an analysis showing whether the Big Bart line should be eliminat

    Computation for a retirement fund

    Please help, I do not understand... Stephen Bosworth, a super salesman contemplating retirement on his 55th birthday, decides to create a fund on an 8% basis that will enable him to withdraw $25,000 per year on June 30th, beginning in 2014 and continuing through 2017. To develop this fund, Stephen intends to make equal contri

    Identify initiatives or actions after reading an annual report,

    In a recent annual report, read management's letter to the stockholders. This section of an annual report typically discusses initiatives or actions that the company implemented during the year as part of its strategic plan. Identify at least three such initiatives or actions that you believe affected the company's annual

    Measures can Amber Lutz take to improve her business

    Amber Lutz started a retail clothing business two years ago. Lutz's first year was very successful, but sales dropped 50 percent in the second year. A friend who is a business consultant analyzed Lutz's business and came up with two basic reasons for the decline in sales: (1) Lutz has been placing orders late in each seaso

    Politicalization of Accounting Standards

    Some accountants have said that politicalization in the development and acceptance of generally accepted accounting principles (i.e., standard setting) is taking place. Some use the term politicalization in a narrow sense to mean the influence by governmental agencies, particularly the Securities and Exchange Commission, on the

    Relative sales value method

    PC Plus buys 1,000 computer game CDs from a distributor who is discontinuing those games. The purchase price for the lot is $6,000. PC Plus will group the CDs into three price categories for resale, as indicated below. Group Price per CD No. of CDs 1 $ 5.00

    Cash can increase when there is a net loss

    The president of Frogger Company is puzzled. During the latest accounting period, the company experienced a net loss of $800,000 yet its cash increased $300,000 during the same period. Discuss the circumstances under which this scenario could occur. Present evidence based on the various components of the statement of cash flo

    Taxation: How much income will be reported from installment sale of land

    On September 16, 2009, Donald Dunn sold for $80,000 property with an adjusted basis of $20,000. The buyer paid $20,000 down with the remaining $60,000 to be paid in four equal annual installments of $15,000 beginning in September 2010 with interest at 12%. How much income does Donald report in 2009 and the following four

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