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Accounting

Sample Type, Sample Size, Type of Data

1. Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package. She plans to use a 80% confidence interval estimate of the proportion of households which prefer the new packages; she will accept a 0.05 error. Previous studies indicate that new packaging has an approximately 70% a

Decision with Long-term Influence

A management decision that would have a long term influence on the operating leverage of a firm would be: increasing the advertising budget. substituting robots for hourly paid production workers. increasing prices in proportion to raw material cost increases. having a season-end sale of

Accounting Questions

8. The 3 sections of the statement of cash flows are? A. Operating, Investing and Analyzing B. Operating, Investing and Financing C. Financing, Investing and Assets D. Assets, Liabilities and Owners Equity 9. The payment of cash dividend would be classified in what section of the cash flow? A. Financing

Managerial Accounting problems

1. Present entries to record the following selected transactions of Belton Co. a. Purchased 500 shares of the 100,000 shares outstanding $10 par common shares of Denver Corp. for $5,100. b. Purchased 2,000 shares of the 10,000 shares no par common shares of Reilly Co. for $45,600. The investment was accounted for by the eq

Preparing a Partial Income Statement

Prepare partial income statement and comment on gross profit and gross profit percentage. In negotiations with prospective buyers of the business, the owners of Hexagon are calling attention to the rising trends of the gross profit and of the gross profit percentage as very favorable elements. Assume that you are retained

Pension Plan Calculations

Pension plan calculations and journal entry. On January 1, 2004, Stine Co. had the following balances: Projected benefit obligation $3,700,000 Fair value of plan assets 3,700,000 Other data related to the pension plan for 2004: Service costs 140,000 Unrecognized prior service cost -0- Contributions to the plan 22

Payoff in Arrears

Suppose that the payment on the FRA is in arrears, that is, at day 210. Then the investor who has purchased the FRA receives a payment on day 210 which depends on the 180 day LIBOR rate at day 30. If at day 30, the 180 day LIBOR rate is 7% How much will the long pay the short on day 210?

Share Price and Issuance

The finance director of Jackson plc of Jackson plc has proposed that a rights issue is undertaken to put the company's finances on a sound basis. As a result of a decline in the company's share price the market value of its equity, its debt-equity ratio based on market values has increased significantly and stands well above it

What are the revenue and cost per client and prepare an income statement for January for Manhattan Consultants and find the distribution costs per customer for Centennial Shipping (CS).

Problem 1 During January, Manhattan Consultants worked 1,000 hours for Nocando Manufacturing, 300 hours for Sails, Inc., and 500 hours for Original John's Restaurants, Manhattan Consultants bills clients at $80 an hour; its labor costs are $30 an hours. A total of 2,000 hours were worked in January with 200 hours not billable t

Boston exchanges a machine used in his trade or business for another machine.

Boston exchanges a machine used in his trade or business for another machine. In addition, he gives shares of Intel stock which have a fair market value of $27,000 and a basis of $13,000. The old machine has an adjusted basis of $30,000 and the new machine has a fair market value of $80,000. What is the recognized gain or los

What is the recognized gain or loss?

Manuel exchanges a rental house at the beach with an adjusted basis of $150,000 and a fair market value of $125,000 for a rental house at the mountains with a fair market value of $100,000 and cash of $25,000. What is the recognized gain or loss? a. $0. b. $100,000. c. $25,000. d. ($25,000). e.

What is the adjusted basis in the home?

Guthrie purchased his home for $300,000. As a sole proprietor, he operates a certified public accounting practice in his home. For this business, he uses one room exclusively and regularly as a home office. In Year 1, $1,450 of depreciation expense on the home office was deducted on his income tax return. In Year 2, Guthrie

Cassandra sells property for a sales price of $150,000.

Cassandra sells property for a sales price of $150,000. In addition, Lana, the buyer, pays $5,000 in property taxes that had accrued during the year while the property was still legally owned by Cassandra. Cassandra paid $9,000 in commissions and $1,500 in legal fees connected with the sale of her property. What is the amount

Waylan purchased a tract of land for $100,000 in 1997 when he heard that a new highway was going to be constructed through the property and that the land would soon be worth $200,000.

Waylan purchased a tract of land for $100,000 in 1997 when he heard that a new highway was going to be constructed through the property and that the land would soon be worth $200,000. Highway engineers surveyed the property and indicated that he would probably get $150,000. The highway project was abandoned in 2004 and the val

Determine Velma's AGI for 2004

Velma, a married taxpayer filing a joint return, had the following items for 2004: · Salary of $75,000. · Loss of $25,000 on the sale of stock acquired two years ago from Mac, an investor. · Gain of $20,000 on the sale of §1244 stock acquired three years ago. · Stock acquired on Janu

What is Richard's adjusted gross income for 2004?

Richard, age 19, is a full-time student at State College and a candidate for a bachelor's degree. During 2004, he received the following payments: Wages: $2,000 State scholarship for ten months (tuition and books): $4000 Loan from college financial

Business: Financial Operations

A product has demand of 4000 units per year. Ordering cost is $20 and holding cost is $4 per unit per year. The cost-minimizing solution for this product is to order a. 200 units per order b. all 4000 units at one time c. every 20 days d. 10 times per year e. none of the above Given forecast errors

Business Accounting - Statement of Operations

See attached file for full problem description. Denbury Resources Inc. presented these consolidated statements of operations for the year ended December 31, 2001, 2000, and 1999. a. What does it mean that the statements are "Consolidated Statements of Operations"? b. Does it appear that Denbury Resources Inc. has consol

Variance Analysis at Savannah Machine Tool Company

The Savannah Machine Tool Company has an automated production process, and production activity is quantified in terms of machine hours. It uses a standard-costing system. The annual static budget for 20x6 called for 6,000 units to be produced, requiring 30,000 machine hours. The standard-overhead rate for the year was computed u

Accounting Journal Entries

Journalize the following merchandising transactions for CSI Systems assuming it uses (a) a periodic inventory system and (b) a perpetual inventory system. 1. On November 1, CSI Systems purchases merchandise for $1,400 on credit with terms of 2_5, n_30, FOB shipping point; invoice dated November 1. 2. On November 5, CSI S

Accounting Problems: 42 multiple choice 1st year accounting.

Question 1 Moss County Bank agrees to lend the Blackwood Brick Company $100,000 on January 1. Blackwood Brick Company signs a $100,000, 6%, 9-month note. The entry made by Blackwood Brick Company on January 1 to record the proceeds and issuance of the note is a. Debit Interest Expense 4,500 Debit Cash 95,500 Credit

Accounting problem

Please see the attached files and complete the work. NARRATIVE OF TRANSACTIONS The transactions in this final were completed by Top Ten Sporting Goods Company, owned and operated by Jack Newman, during the month of October of the current year. Although the transactions deal with the operations of a sporting goods business,

Variance Analysis

I'm having trouble figuring out the standard quantity and standard hours. I'm not sure that the rest of my calculations are correct either. Then there are the actual variances themselves and while I have the formulas they don't seem correct.