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Accounting

Ernest Banks Company

I am unable to find a solution for the attached two problems. Please use attach excel and follow the instructions. Instructions: Prepare a statement of cash flows for Ernest Banks Co. for the year ended 12-31-06, using the indirect method. Net Cash provided by operating activities $28,0000 Investing activities provi

Product Variable Costs

Problem 2 Lehne Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling Price $112 Units in beginning inventory 500 Units produced 2,600 Units sold

Partnerships: calculation of basis, gain/loss and character of gain

21 The MP Partnership was formed to acquire land and subdivide it as residential housing lots. On July 1, 2007, Miranda contributed land valued at $300,000 to the partnership, in exchange for a 50% interest in MP. She had purchased the land in 1999 for $140,000 and held it for investment purposes (capital asset). The partner

Supply and Demand Economics

B. A few years ago a number one best selling book proclaimed the virtues of oat bran in reducing cholesterol. More and more consumers added oat bran cereal and muffins to their diets. At the same time, producers switched over to oat bran production from other agricultural crops. Within the 2 month period, the price of a pound of

Fundamental Accounting Practices

This APA formatted MS Word file contains examples of adjusting entries, computing accruals and cash income, as well as determination of income and expenses, using both accrual and cash accounting procedures.

Ruiz Corporation

Please see attachment. 3 part problem Answer in excel format please. At Decemeber 31, 2007, Ruiz Corporation reported the following plant assets. Land $3,000,000 Buildings $26,500,000 Less: Accumulated depreciation- buildings 12,100,000 14,400,000 Equipment 40 ,000,000 Less: Accumulated depr

Cost Accounting, Net Realizable Value Method - J-M Company

I need to understand how to solve the problem, not just the answers. J-M Company uses a joint process costing $15,000 to produce three main products. The company had no beginning inventory. Its current period operation data follow: Units U Produced Sales val separable sales val aft Units

Corporation operating rules

Could someone please help me with this problem???? John Hunter, the president and sole shareholder of Huntger, Inc. has asked you to assist him in obtaining the maximum charitable contribution deduction for his corporation. The corporation has 36 desktop comptuers that ared almost two years old. Due to recent advances in te

ABC - Maxey & Sons

Maxey & Sons manufactures two types of storage cabinets - Type A and Type B - and applies manufacturing overhead to all units at the rate of $80 per machine hour. Production information follows. Type A Type B Anticipated volume (units) 8,000 15,000 Direct-material cost $35 $60 Direct-labor cost 20

Dividends/Sale of Equipment

See the attached file. My problem is, I do not see how my instructor reached in the "indirect methodology" for "financing activities" how he achieved dividends of; -61,200 And for the "investing activities", how my professor reached 36,000 for sale of equip. Please help show me how he reached these values. 1. New equ

Bookeeping process and transactions for DeBauge Realtors, Inc.

Need help with this short case: Calculate liquidity and profitabiltiy measures and explain various financial statement relationships for a realty firm. Debauge Realtors, Inc. is a realty firm owned by Jeff and Kristi DeBauge. The Debauge Family owns 100% of the corporation's stock. The following summarized data is take

The Plastechnics Company began operations several years ago.

Please show work with explanation. Variable Cost Fixed Cost Direct Materials Direct Labor Manufacturing Overhead Period Cost Opportunity Cost Sunk Cost Rental revenue - Materials costs Production supervisor salary Production line workers wages Equipment rental Building depreciat

The cafeteria at XYZ University

The cafeteria at XYZ University has experienced the following costs and number of meals served from January through September of 200x: Month Cafeteria Costs/Meals Served January $35,800/9,800 February 34,400/9,000 March 36,920/9,800 April 38,280/10,200 May 44,805/13,500 June 34,700/9,200 July 36,344/9,695 August 43,882/12,211 Se

Mean Squared Deviation

Need help answering the attached question. It costs $50 to repair a component in a VCR. Compute the QLF for loses incurred as a result of a deviation from a target setting with a nominal tolerance of 10 + 0.25 mm required. The mean squared deviation is ½.

Interpreting Charts

Need assistance with chart interpretation. Please see attachment. Problem # 10 pg 408 ~ A services process is monitored using x and R charts. Eight samples of n = 10 observations Have been gathered with the following results: Sample Mean Range 1 4.2

Oneida Restaurant Supply Company Predetermined Overhead Rate

The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue.........$205,000 Actual manufacturing overhead...340,000 Budgedted machine hours..........10,000 Budgeted direct-labor hours......20,000 Budgeted direct-labor rate..........$14 Budgeted manufacturing overhea

Using the Cost of Equity Method

Since Boomer Company's inception, Madison Company has owned 18 percent of Boomer's outstanding common stock. Madison provides three key management personnel to Boomer and purchased 25 percent of Boomer's output during 20X7. Boomer is profitable. On January 2, 20X8, Madison purchased additional common stock to finance Boomer's ex

Buy-side and sell-side financial analysts question

There are two major types of financial analysts: buy-side and sell-side. Buy-side analysts work for investment firms and make stock recommendations that are available only to the management of funds within that firm. Sell-side analysts work for brokerage firms and make recommendations that are used to sell stock to the brokerage

Financial Ratios

More with financial ratios. Need to answer only 3 questions of your choice. Please see attached file for full problem description. a. Is it becoming easier for the company to pay its bills as they come due? b. Are customers paying their accounts at least as fast now as they were in Year I? c. Is the total of accounts r

Accounting - Oakley Company

-----CVP Analysis with Production and Marketing Decisions Ch. 8------ Oakley Company manufactures and sells adustable canopies that attach to motor homes and trailers. The market covers both new units as well as replacement canopies. Oakely developed its 20x2 business plan based on the assumption taht canopies would sell at a p

Snider Company

D. The inventory of Snider Company was destroyed by fire on April 1. From an examination of the accounting records, the following data for the first three months of the year are obtained: Sales $225,000 Sales Returns and Allowances 5,000 Purchases 90,000 Freight-In 3,500 Purchase Returns and Allowances 4,000 Requ

Omega Company

Please see attached file for full problem description. PART I - TRUE/FALSE Instructions: For each statement below (a) identify whether the statement is True or False, and (b) fully explain your answer. Management may choose any inventory costing method it desires as long as the cost flow assumption chosen is consistent w

Adjusting Entries and Revenue Recording

Problem #1 The Ritz Manor is a popular seaside resort. A double room cost $220 for one night, in order to reserve a room, guests must pay one night's stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for guests. Vendalite stocks the machines and

Accounting Periods & Methods for Moss Company

Moss Company is a computer consulting firm. The company also sells equipment to its clients. The sales of equipment account for approximately 40% of the company's gross receipts. The company has consistently used the cash method to report its income from services and the accrual method to report its income from the sale of in

Eat-M-Up, Inc

Eat-M-Up, Inc. produces bird seeds. All direct materials used in the production process are added at the beginning of the manufacturing process. Labor and overhead are added evenly thereafter, as each unit is mixed and packaged. Blue Sky uses process costing and had the following unit production information available for the

Chapter 6 Research Problem 1 - Gambali (Ross)

Chapter 6 Research Problem 1 Gambali (Ross), a calendar-year, accrual basis S corporation, makes regular and substantial contributions to local tax-exempt charitable organizations. On December 20, its board of directors authorized a $175,000 contribution to the Calvin Home for Abused Children. The corporation paid the contri