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Acccounting questions

(See attached file for full problem description) --- Expanded Accounting Equation For the following four cases, use the expanded accounting equation to compute the missing quantity. Assets Liabilities Capital Stock Retained Earnings Case A


Recording Dividends. On April 15, 2003, the board of directors for declared a cash dividend of 20 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company has 500,000 shares of stock outstanding. Prepare any necessary journal entries for each date.


Determining the amount of a dividend. Jacobs Company has 300,000 share of common stock authorized, 270,000 shares issued, and 50,000 shares of treasury stock. The company's board of directors declares a dividend of 50 cents per share. What is the total amount of the dividend that will be paid?

Correct statement of the null hypothesis

If the intent for research is to try to prove the null hypothesis is true without giving any indication that something else may be proved (alternate hypothesis), then, what is the proper format for stating the null hypothesis? eg. The Chamber of Commerce estimates that "Richmond families, on the average, dine out at least 3

13443 Accounting Problem for Correcting an internal control weakness

This is a Decision Case Problem from my accounting book that is a homework problem to be graded by the professor. Can you answer the Question A & B from the problem given in word document. A-1 Construction Company, headquarted in Terre Haute, Indiana, built a Rest Easy Motel 35 miles east of Terre Haute. The construction for

Accounting: Language of Business

Question: Why is accounting often referred to as the "language of business". What are generally accepted accounting principles (GAAP)? Who currently develops and issues GAAP? What is the purpose of GAAP?

Interest expense when a company issues a bond at a discount

205. When a company issues a bond at a discount: the company will pay less than the face amount of the bond at its maturity. the company will pay more than the face amount of the bond at its maturity. the company's interest expense will be less than the interest paid each year. the company's interest expense

Hambley's Toy store is on Regent Street in London...

Hambley's Toy store is on Regent Street in London. It has a magic department near the main door. Suppose that management is considering dropping the magic department, which has consistently shown an operating loss. The predicted income statements follow (for ease of analysis, only three product lines are shown): The $310,000

What are disbursement models?

What are disbursement models? How do they differ from lockbox models? I need this one back rather quickly. Thus, the high credit value for completion. I can not find a definition for a disbursement model anywhere.

Managerial Accounting

Mason Enterprises has prepared the following budget for the month of July: Selling Variable Unit price per unit cost per unit sales Product A 12 5 17,000 Product B 13 7 20,000 Product C 16 8 6,000 Assuming that total fixed expenses will be 160,000 and the sales mix remains constant, the break-even

Preferred Dividends

National Health Corporation (NHC) has a cumulative preferred stock issue outstanding, which ahs a stated annual dividend of $9 per share. The company has been losing money and has not paid the preferred dividends for the last five years. There are 300,000 shares of preferred stock outstanding and 600,000 shares of common stock.

Variable Costing Unit Product Cost and Income Statement; Break-Even

I have attempted to figure out the first two problems. I just need to compare my anwers so see I they match. I am not sure how to figure out problem #3, so I need a step-by- step solution. Desktec, Inc. makes an oak desk for personal computers. The desk sells for $200. Data for last year's operations are: Units at begi

No. 456

Mainline Distributing Company collected cash of $92,000 from customers and $6,000 interest on notes receivable. Cash payments included $24,000 to employees, $13,000 to suppliers, $6,000 as dividends to stockholders, and $5,000 as a loan to another company. How much was Mainline's net cash provided by operating activities? N

Accounting what does numbers mean

Cost of goods manufactured, cost of goods sold, and income statement. Champs, Inc., incurred the following costs during March: Selling expenses $31,675 Direct lanor 56,628 Interest expense 8,21

Activity-based costing

1) Given the initial cost and complexity of data to be captured, can you think of any instances when implementing activity-based costing (ABC) may not be a wise business decision? 2) What are some typical costs in a manufacturing or service organization that may be "lost" (transparent) when calculating the firm's profitabilit

High-Low Method; Predicting Cost

I believe that I have done #1 correctly. I am confused as to how to figure out question #2. Please show all calculations used to arrive at the answer. The number of X-rays taken and X-ray costs at a hospital over the last nine months are: Month X-Rays Taken X-Ray Cost January



Calculating the Predetermined Overhead Rate

Please help with the following problem. Provide the answers in Excel. Granite Company uses a job order cost system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labour hours. Last year, manufacturing overhead and direct labour hours were estimated at $80,000 and 16,00

A "T" Account

Need help with setting up a "T" account... also see attachment..... 1) Betty and her friend each invested $50,000 in cash (for a total of $100,000) in exchange for shares of common stock in Bobbie's Book Store. 2) On January 1, 2005, purchased new equipment for cash costing $70,000 3) Depreciation on the new equipment

Equivalent units for conversion costs

The company I work for produces canned vegetable soup. The company uses the weighted-average method in its process costing system. The company sold 300,000 units in January. There was no beginning work in process or finished goods inventory. Work in Process inventory at January 31 was 24,000 units, which were 75% complete as

Manufacturing overhead

My company's manufacturing overhead is 40% of its prime cost. If direct labor is $18,000 and direct materials are $24,000 what is manufacturing overhead?

Accounting Theory Explained

Answer questions after reading activity in the attached file: 1. What happened here? Were there really any right or wrong answers? 2. Why or why not? 3. Can even a minimal exposure to accounting theory influence reasoning power? 4. Is accounting theory really necessary for the establishment of accounting rules? W


Manufacturing overhead $225,000 incurred, $14,500 overpaid, overhead rate is $5.00 . How many hours dis company work? Under job order costing a company started with one job ($6,000) with $500 of cost assigned at the time. Other production cost were assigned as follows: Job #1= $6,000, Job #2 = 8,100, Job #3$2,40

Class Question

271 363 159 76 227 337 295 319 250 279 205 279 266 198 117 162 232 303 192 181 321 309 246 278 50 41 335 116 100 151 240 474 297 170 188 320 429 294 570 342 279 235 434 123 325 How many classes would you recommend? What Class interval would you suggest? What would you recommend as the lower limit of the

The solution to Return on stocks and bonds

Analyze the risk of a portfolio Use the data below and consider portfolio weights of .60 in stocks and .40 in bonds. Rate of Return Scenario Probability Stocks Bonds Recession 0.2 -5% 14% Normal 0.6 15% 8% Boom 0.2 25% 4% a. What is the rate of return on the portfolio in

ABC (activity based costing) for the cordless phone manufacturing division.

The cordless phone manufacturing division of a Denver-based consumer electronics company uses activity-based costing. For simplicity, assume that its accountants have identified only the following three activities and related cost drivers for indirect production costs: Activity Cost Driver: Materials handling, Direct materia