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    Journalize Long-Term Investments in Stock-Equity Method

    On January 1,2008,Compustat Co.bought 30% of the outstanding common stock of Freelance Corp. for $258,000 cash. Compustat Co. accounts for this investment by the equity method. At the date of acquisition of the stock, Freelance Corp. 's net assets had a carrying value of $590,000. Assets with an average remaining life of five ye

    Compute cash flow from operating and from investing

    EXERCISE 14-41 GAIN AND LOSSES AND THE STATEMENT OF CASH FLOWS Miss Maggie Company entered into the following transactions during the year: Miss Maggie had no investment securities at the beginning of the year. The cost of the trading securities sold was $300; the cost of the available-for-sale securities sold was $150.

    Managerial Accounting

    1.What is the appropriate journal entry if $100,000 of materials were purchased on account for the month of August? a. Manufacturing Overhead Control 100,000 Accounts Receivable Control 100,000 b. Manufacturing Allocated 100,000 Accounts Receivable Control 100,000 c. Materials Control 100,000 Accounts Payab

    Assume that in the two-server system, an arriving car will join the shorter queue. When the queues are equal length, there is a 50-50 chance the driver will enter the queue for either window. a. Simulate both the one and two teller systems. Compute the average queue length, waiting time, and percentage utilization for each system. b. Suggest a decision about which system to employ.

    See attached excel spreadsheet (example) for queing simulation. I need help to put the info from problem #1 into Excel. 1.) First American Bank is trying to determine whether it should install one or two drive-thru teller windows. The following probability distribution for arrival intervals and service times have been dev

    Total fixed cost per month produced

    A.) The Bear and Bull Company produces two products: bears and bulls. The following information is available: Bears Bulls Unit Selling Price $6 $9 Unit Variable Costs 2 3 Unit Contribution Margin 4 6 Sales Mix 65% 35% Additional information: Total company-wide fixed costs are $156,200. Given the sta

    Compute earnings per share data - Schroeder Corporation

    Please help me to better understand this problem. Please put in excel with explanations so I can understand it better. At December 31, 2009, Schroeder Corporation had the following stock outstanding. 8% cumulative preferred stock, $100 par, 107,500 shares $10,750,000 Common stock, $5 par, 4,000,000 shares 20,000,0

    Multiple-step statement with retained earning -Brokaw Corporation

    Please help. Please put in excel and give explanations so I can better understand. Presented below is information related to Brokaw Corp. for the year 2010. Net sales $1,200,000 Cost of goods sold 780,000 Selling expenses 65,000 Administrative expenses 48,000 Dividend revenue 20,000 Interest revenue 7

    Importance of Metrics in OEE

    Can you tell me what OEE is and why it is an important metric for a manufacturing company? What do you think are the most important metrics to a business of your choice?

    Case Study: Blue Ridge Manufacturing

    Attached is an excel spread sheet that I need assistance with... Thank you for your help! ------------- Blue Ridge Manufacturing Blue Ridge Manufacturing produces knit apparel in a modern plant located in the Blue Ridge Mountain-region of North Carolina. Overall, the company is profitable, as the segmented income state

    How Many Units Were Completed and Transferred to Finished Goods?

    Prue Chemical uses an automated mixing machine in its Mixing Department to combine three raw materials into a product call Triogo. On the average, each unit of Triogo contains $3 of Material X, $6 of Material Y, $9 of Material Z, $2 of direct labor, and $12 of overhead. Total costs charged to the Mixing Department's Work in Proc

    Impacts of Changing from Hydrometallurgical to Pyrometallurgical

    The Al Khali Corporation's copper mines contain 63 percent of the 23.2 million tons of copper in Saudi Arabia. The owners of the mining operation are willing to invest millions of dollars in the latest pyrometallurgical copper-extraction process. Production managers are currently examining both batch and continuous versions of t

    Amount under or overapplied, and effect to cost of goods sold

    At year end, records show that actual overhead costs incurred were $25,870 and the amount of overhead costs applied to production was $27,000. Identify the amount of under- or overapplied overhead, and indicate whether the Cost of Goods Sold account should be increased or decreased to reflect actual overhead costs.

    Compute product unit cost for job 14

    What is the product unit cost for job 14, which consists of 300 units and has total manufacturing costs of direct materials, $4,500; direct labor, $7,500; and overhead, $3,600? What are the prime costs and conversion costs per unit?

    Johnson's Effectiveness in Preparing his Report

    Jeff Johnson is the sales manager for Sunny Days Greeting Cards, Inc. At the beginning of the year, the organization introduced a new line of humorous birthday cards to the U.S. market. Management held a strategic planning meeting on August 31 to discuss next year's operating activities. One item on the agenda was to review t

    Fairly Reliable Manufacturing: Entry to record warranty expense, liability amount

    LTB5-1: The Fairly Reliable Manufacturing Company offers a 3-year warranty with all of its products. The Company estimates its warranty costs at 5% of sales and assumes that warranty claims will occur equally over the 3-year warranty period. However, the company does not remove any unused estimated liability under warrantie

    Accounting: Flexible budgets

    8-2 "The flex in the flexible budget relates solely to variable costs." Do you agree? Explain 8-3 "We want a flexible budget because costs are difficult to predict. We need the flexibility to change budgeted costs as input prices change." Does a flexible budget serve this purpose? Explain.

    Internal Accountant's Report to Management

    You are the internal accountant at a company that is preparing for an upcoming government contract bid. The management in your company is deciding if it is necessary for the company to perform a full financial status review prior to the bid. As an internal accountant, prepare a report for management that provides supporting info

    Name 4 IRS pronouncements; comment on proposed regulations, PLR

    1. The IRS issues numerous pronouncements. Name the four that are the most important in conducting Federal tax research. 2. "A tax researcher should not ignore Proposed Regulations." Comment on this statement 3. Sometimes a Private Letter Ruling is generalized and included in an official IRS publication. What form does

    Economic versus accounting income

    Economists and accountants agree that the concept of income is vitally important. However, the two disciplines disagree on what income is and how it should be measured. A. Present an argument in favor of the economist's view of the concept of income. B. Present an argument in favor of the accountant's view of the concept of

    Recording Petty Cash Transactions

    On July 1, Acton Company established an Imprest (petty cash) fund in the amount of $400.00 in cash from a check drawn for the purpose of establishing the fund. On July 31, the petty cash fund has cash of $31.42 and the following receipts on hand: for merchandise received $204.30; freight-in, $65.74; laundry service, $84.00; and

    Another explanation needs

    17.) On June 30, 2009, Sampras Company reported the following account balances: Receivables $ 80,000 Current liabilities $ (10,000) Inventory 70,000 Long-term liabilities (50,000). Buildings (net) 75,000 Common stock (90,000)' Equipment (net) 25,000 Retained earnings (100,000) Total assets $250,000 Total li

    Prepaid and Regular Expenses

    How does prepaid expenses differ from regular expenses? What are the seven objectives of internal controls for various business cycles, such as, revenue, purchasing, and payroll cycles?

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