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    Calculate FV of an amount of investments

    V=future value 9.85 when: pv=present value is l i=interest rate per period or 10% n=number of periods (n is an exponent) is 24 fv = pv*((1+i)^n) fv = 1*((1+0.1)^24 fv = 9.85 How much would your dollar be worth if you had taken .33 out of your investment at the end of the 12th year?

    Overhead Variances for Cedar Key Company

    Cedar Key Company produces handmade clamming buckets and sells them to distributors along the gulf coast of Florida. See the attached file. The company incurred $9,400 of actual overhead cost ($8,000 variable, $1400 fixed) in May. Budgeted standard overhead costs for May were $4 of variable overhead costs per direct labor

    Total Variance, Spending Variance, & Activity Variance

    Alto Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: Excel Table included in attached file. Requirements Prepare the clinic's flexible budget performance report for June. Label each variance as favorable (F) or unfavorable (U). Net Operating

    ABC Co. Memo: Establishing a formal Computer Security Policy

    Scenario: ABC company is a small but growing manufacturing company with revenues of approximately $25 million. Until now, the company has had a single headquarters and production facility in a Midwestern city, but it is building a separate sales office on the east coast which will open in a few months. You are the Manager

    Business-Non Profit Accounting Question: Goldwaithe Township

    The recognition of revenue from fines does not necessarily reflect the amount ''earned'' by merely issuing tickets. In August 2008, the last month of its fiscal year, Goldwaithe Township issued $88,000 worth of tickets for parking and traffic violations. Of these, the township collected $45,000. It expects to collect an addit

    Mal Co: Computaton of Taxable Income with a reconciling schedule

    Computation of taxable income. The records for Mal Co. show this data for 2008: Gross profit on installment sales recorded on the books was $360,000. Gross profit from collections of installment receivables was $270,000. Life insurance on officers was $2,900. Machinery was acquired in January for $300,000. Straight-line

    MC problem

    The accounting profession requires disaggregated information in the following ways: a. products or services. b. geographic areas. c. major customers. d. all of these.

    Accounting changes, Error Corrections, and Prior Period Adjustment

    Saluki Company's reported net incomes for 2007 and the previous two years presented: year: 2007 2006 2005 $105,000 $95,000 $780,000 2007's net income was properly determined after giving effect to the following accounting changes, error corrections, etc. which took place during the year.

    Production and Manufacturing Cost Data

    The Polishing Department of Dimetry Manufacturing Company has the following production and manufacturing cost data for October. Materials are entered at the beginning of the process. Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during

    Intermediate Accounting

    1. On June 1, 2005, Tocinto Company sold its 8-year, $1,000 face value, 9% bonds dated June 1, 2005 at an effective annual interest rate (yield) of 10%. Interest is payable semiannually, and the first interest payment date is September 1, 2005. Tocinto uses the effective interest method of amortization. Bond issue costs were in

    Burns Manufacturing- Absorption versus Variable Costing

    Burns Manufacturing incurred the following costs during the year: direct materials $20 per unit; direct labor $12 per unit; variable manufacturing overhead $15 per unit; variable selling and administrative costs $8 per unit; fixed manufacturing overhead $120,000; and fixed selling and administrative costs $10,000. Burns produce

    Minimum transfer price, total costs, minimum transfer price

    The Appraisal Department of Mega-Mortgage Bank performs appraisals of business properties for loans being considered by the bank and appraisals for home buyers that are financing their purchase through some other financial institution. The department charges $160 per home appraisal, and its variable costs are $126 per appraisal.

    Calculate basic and diluted earnings per share

    Assume that the following data related to Fargo, Inc for the year 2008 Net income (30% tax rate) $3,000,000 Average common shares outstanding 2008 1,000,000 shares 10% cumulative convertible preferred stock: Convertible into 80,000 shares of common $1,600,0

    Cash Dividends for Ives Company

    Ives Company has stock outstanding as follows: Common, $10 par value per share, 140,000 shares; Preferred, 5%; $100 par value per share, 6,000 shares. The Preferred is cumulative and participating up to an additional 4% of par; two years are in arrests (not including the current year); and the total amount of cash dividends decl

    Adelphia Throughput costing, absorption costing, and variable costing.

    Adelphia Corporation which uses throughput costing, just completed its first year of peration.l Planner and actual production equaled 10,000 units and sales totaled 9,600 units at $216 per unit. Cost data for the year are as followed: Direct material (per unit) 36.00 Coversion costs Direct labor 135,000 Var

    Quality Cost Report: Red Lake Enterprises

    I am not sure how to begin answering this problem. It seems very confusing to me and I am just unsure of how to get started and if I need to use an excel spreadsheet. From what I can tell it looks like I will, but I am just really stressed out about this problem. Please see ** ATTACHED ** file(s) for complete details!!

    Taxation: Refund status from California for IOU; reportable?

    According to our reading, "if a taxpayer receives a refund of state income taxes deducted in a prior year, the taxpayer must include the refund as income in the year of the refund to the extent the taxpayer received a tax benefit from the prior deduction." What about California's situation where taxpayers are getting IOU's fr

    Efficiency Variance

    Direct labor-banking application. Pioneer state bank developed a standard for teller staffing that provided for one teller to handle 12 customers per hour. During April, the bank averaged 57 customers per hour and had six tellers on duty at all times. (Relief tellers filled in during lunch and rest breaks.) The teller compensati

    Cost or Equity Method

    Use of the Cost or Equity Method [AICPA Adapted] Analysis 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, Ma

    Choice of Accounting Method

    Choice of Accounting Method Understanding Slanted Building Supplies purchased 32 percent of the voting shares of Flat Flooring Company in March 20X3. On December 31, 20X3, the officers of Slanted Building Supplies indicated they needed advice on whether to use the equity method or cost method in reporting their ownership in

    Not for Profit Accounting

    On January 1, 2009, the first day of the fiscal year, the City of Carter received notification that a federal grant in the amount of $550,000 was approved. The grant was restricted for the payment of wages to teenagers for summer employment. The terms of the grant permitted reimbursement only after payment was made; the grant co

    Absorption Income vs Contribution Margin Income

    1. What is the difference in calculation between the absorption costing and variable costing approaches? 2. Can you give specific benefits to be derived from using the information from computing gross profit on sales as opposed to contribution margin? 3. Is net income always going to be the same regardless of the accountin

    3 Multiple Choice: 501 C organizations

    1. A volunteer fire company is most likely organized under Section: a. 501(c)(1) b. 501(c)(3) c. 501(c)(4) d. 501(c)(7) 2. A club formed for pleasure, recreation, and social activities is most likely organized under Section: a. 501(c)(1) b. 501(c)(3) c. 501(c)(4) d. 501(c)(7) 3. An organization that pro

    Business process perspective

    Please provide an example to the question below. "Organizations are complex systems with multiple stakeholders. Sometimes the interests of various stakeholders can conflict". 1. In a short paragraph, provide an example of a business process where the interests of two (or more) stakeholders are in opposition. Thank yo

    Compute operating, financial & combined leverage, pre-tax EPS

    Seaside Company manufactures and sells small sailboats. Its annual sales are $3.0 million (30 sailboats at $100,000 each). Because of the need to be near the ocean, the company's fixed costs are high, $1.0 million. The variable cost ratio is 30 percent. The owner, Stan, has financed the business with $1.2 million bank loan at 7

    Degree of operating leverage :sample question

    2.The Sterling Tire Company income statement for 2006 is as follows: Sterling Tire Company Income Statement For the Year Ended December 31, 2006 Sales (20,000 tires at $60 each) $1,200,000 Less: Variable costs (20,000 tires at $30) 600,000 Fixed costs 400,000 Earnings before interest and taxes (EBIT) 20

    Database Definitions Exercise

    Define the following terms related to databases. a. Field__________________________________________________________________ _________________________________________________________________________ b. Record________________________________________________________________ ______________________________________________________

    Conceptualizing a Business: coffee shop and book store combination

    Prepare a paper in which you explain the importance of my selected business which is coffee shop and book store combination. What is the vision, mission, and values in determining your strategic direction. Please include: a. Define my business, products/services, and customers by developing a mission statement. Ensure t