Share
Explore BrainMass

Accounting

Income Tax Accounting

1. Francois purchases land for $100,000. He incurs legal fees of $1,000 associated with the purchase. He subsequently incurs additional legal fees of $6,500 in having the land rezoned from agricultural to residential. He subdivides the land and installs streets and sewers at a cost of $200,000. What is Francois's basis for t

Business: Managerial Accounting III - [one day]

H & R Manufacturing Corporation provided the following cost data for its most recent fiscal year end. The company manufactured 100,000 units of its product during the past fiscal year. Beginning work-in-process inventory $70,000 Ending work-in-process inventory 90,000 Beginning finished goods inventory 124,000 Endin

Merchandising Operations (Accounting)

See attached file for full problem description. E1: The decisions that follow were made by the management of Shanahan Shoe Company. Indicate whether each decision pertains primarily to (a) cash flow management, (b) profitability management, (c) choice of inventory system, or (d) control of merchandise operations. 1. Decide

What is the minimum price per unit on the special order for Dockwiller Inc.?

Dockwiller Inc. manufactures industrial components. One of its products, which is used in the construction of industrial air conditioners, is known as D53. Data concerning this product are given below: Per Unit Data Selling price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overh

Capital Assets

Assume that Rf = 5 percent and Km = 10.5 percent. Compute Kj for the following betas. 1. 0.6 2. 1.3 3. 1.9

Cost allocation-variable costing systems

The Riverston plant produces sheet metal shell casings for electronic equipment for one large customer. The shell casings are manufactured on a computerized, numerically controlled (NC) machine that cuts, drills, and bends the metal to form the shell casings for the electronic equipment. Two different shell casings are produce

Cost allocation methods, variable costing systems

Can you help me with the following assignment? This problems explores issues of variable costing- The manufacturing division of Coltson Inc. produces and sells 100,000 widgets. Half of the widgets are sold externally at $150 per unit, and the other half are sold internally at variable manufacturing costs plus 10 percent. C

Patents, franchise and goodwill

Information concerning Haerhpin Corporation's intangibles is as follows: 1: On January 1, 2004, Haerhpin signed an agreement to operate as a franchisee of Hsian copy services Inc. for initial franchise fees of #75,000. Of this amount, $15,000 was paid when the agreement was signed, and the balance is payable in 4 annual payme

20 Accounting Multiple Choice Questions

1. Which of the following is not an example of a decision or informed judgment that a potential investor would make from accounting information? A) Future profitability based on past profitability. B) Probability of success of a new product development. C) A forecast of dividend

Accounting Problems: Varying Predetermined Overhead Rates and Javadi Company

(See attached file for full problem description) --- EXERCISE 2-10 Varying Predetermined Overhead Rates (LO3, LO5) Javadi Company makes a composting bin that is subject to wide seasonal variations in demand. Unit Product costs are computed on a quarterly basis by dividing each quarter's manufacturing costs ( materials, labo

Adjusting Entry for Unearned Revenue

Prepare the adjusting entry in journal form: Attached --- E3: Green Mountain Company of Montpelier, Vermont, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions either one year or two years in advance. Cash received from subscri

Shula Company accounting transactions for Disposal Entries

Prepare the necessary journal entries to record the following transactions in 2003 for Shula Company. March 1 Exchanged old store equipment and $80,000 cash for new store equipment. The old store equipment originally cost $96,000 and had a book value of $64,000 on the date of exchange. The old store equipment had a fair marke

Problem Set

A6). Set up T account and record each transaction. Determine the balance of the account. May 2 - Norman started a computer programming business; Norman's programming Service, by investing $5,000 May 5 - Purchased a computer for $2,500 in cash May 7 - purchased supplies on credit for $300 May 19 - received cash for programm

Financial Probabilities-Rate of return

Case Study#2 The XYZ Company Katharine Rally is the vice president of operations for the XYZ Company. She oversees operations at a plant that manufactures components for hydraulic systems. Katharine is concerned about the plant's present production capability. She has reduced the decision situation to three alternatives

The fundamental accounting equation can be applied to your personal finances. For each of the following transactions, show how the accounting equation would be kept in balance. Example:

The fundamental accounting equation can be applied to your personal finances. For each of the following transactions, show how the accounting equation would be kept in balance. Example: Paid for semester's tuition (decrease assets: cash account; decrease owners' equity: expense account increases). 1. Took out a school lo

Network flow models

(See attached file for full problem description) Using excel, please solve the following: Frieda Millstone and her family live in Roanoke, VA and they are planning an auto vacation across Virginia, their ultimate destination being Washington DC. The family has developed the following network of possible routes and cities

Accounting Transactions

Problem 3-4A On April 1, 2005, Jennifer Stafford created a new travel agency, See-It-Now Travel. The following transactions occurred during the company's first month: (See attached file for full problem description)

Integer Programming

Using excel, please solve the following The Skimmer Boat Company manufacturer's three kinds of molded fiberglass recreational boats-a bass fishing boat, a ski boat, and a speedboat. The profit for a bass boat is $20,500, the profit for a ski boat is $12,000, and the profit for a speedboat is $22,300. The company believes it

Income and Break-Even Calculations

Foster Company manufactures a line of cookware that is sold in kitchen supply stores. The company's controller, Mary Smith, has just received the sales forecast for the coming year for Foster's three products: frying pans, Cutting Knives, and Expresso Machines. Foster has experienced considerable variations in sales volumes and

Master's Question - Managerial Accounting

Use the following to answer questions 1-4: Solo Company is a small merchandising firm. During the next month, the company expects to sell 500 units. The company has the following revenue and cost structure: Selling price per unit $60 Cost per unit $15 Sales com

Masters Question - Managerial Accounting

Birney Company has prepared the following budget data: Sales 150,000 units Selling Price $25 per unit Variable expenses $15 per unit Fixed manufacturing expenses $800,000 F

What should be the current price of this stock?

You are trying to determine the appropriate price to pay for a share of common stock. If you purcahse this stock, you plan to hold it for 1 year. At the end of the year you expect to receive a dividend of $5.50 and to sell the stock for $154. The appropriate rate of return for this stock is 16 percent. What should be the cur

Disposals and Transfers

I'm lost, I am trying to find the amount of cash for disposals and transfers. I have attached the assignment page from the book and the worksheet I have done so far. I'm not sure where I went wrong. Thanks for your help! The question is what is the amount of cash the company received for disposals and transfers for the cur

Accounting

(See attached file for full problem description)

Accounting Problem

Could you please assist me with the Paste and attached assignments Identify any activity in your organization where you can apply breakeven analysis. You must be able to define: ? A unit of measurement for the activity ? Revenue per unit for the activity ? Variable costs for the activity ? Fixed costs for the per

Acct1-8

Please use Microsoft Word only and make sure that the answers are shown within the pages' margins. Clearly label your answers and submit the answers only (no need to resubmit the questions) showing all calculations. Good luck! 1. (Chapter 2) The following information has been extracted from the records of Haverhill Compa

Intranets and Extranets

Discuss the nature of Intranets and Extranets. How do they facilitate intra-and inter-corporate transactions and relative security?