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Accounting questions

Please help with answering multiple choice in the attached doc. 42. Under the corporate form of business organization a. a stockholder is personally liable for the debts of the corporation. b. stockholders' acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation. c. t

Accounting Problems for Dwyer Corporation Issues

Ex. 160 Dwyer Corporation issues a $500,000, 12%, 20-year mortgage note payable on December 31, 2003, to obtain needed financing for the construction of a building addition. The terms provide for semiannual installment payments of $33,231 on June 30 and December 31. Instructions (a) Prepare the journal entries to record the


Would you rather receive a cash or stock dividend? Why? What are the criteria for using the cost, equity, or consolidated method of accounting?

Accounting problems

E2-17 Instructions: a) Fill in the missing amounts b) Journalize the February paroll and the payment of the payroll. Please see attached.

Overhead rate-activity based costing

I need help verifying and completing this problem. Please see attached worksheet. Thank you!!! Instructions a. Determine the overhead rate for each activity. b. Assign the manufacturing overhead costs for April to the two products using activity-based costing. c. Write a memorandum to the president of Fribourg Instrument

Manufacturing Overhead

E2-5 Ramirez Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $275,000 for the year, and machine usage is estimated at 125,000 hours. In January, $26,000 of overhead costs are incurred and 12,000 machine hours are used. For the remainder of the year, $274

Accounting: Admitting New Partner Who Contributes Assets

See attached "Word" file. Please do exercise in "Excel" file. Explain each step in simpliest form. Thank you. After the tangible assets have been adjusted to current market prices, the capital accounts of Cecil Jacobs and Maria Estaban have balances of $61,000 and $59,000 respectively. Lee White is to be admitted to the p

Various questions on Differential Analysis

Exercise 12-1 Miller Construction Company is considering selling excess machinery with a book value of $250,000 (original cost of $375,000 less accumulated depreciation of... a) Prepare a differential analysis report, dated January 3, 2006, for the lease or sell decision. Please see attached.

Cost Structure

Case study: The "baby bust" of the 1960s and early 1970s resulted in the number of college-age 18 - and 19 year-olds contracting sharply from 1980 to 1993. The number of graduating high school seniors peaked in 1979 and declined to a low of 6.9 million in 1992, a drop of nearly 40%. Throughout the eighties, tuition at priv

Gain sharing system and key trends

Question: What are the objectives of the gainsharing system and the report on key trends? The objectives of the Gain Sharing system is to provide extrinsic motivation, rewards that are external to the individual and unrelated to the task they are performing. In addition, the employees have an incentive to perform above par a


You observe the following information regarding Company X and Company Y: ? Company X has a higher expected mean return than Company Y. ? Company X has a lower standard deviation than Company Y. ? Company X has a higher beta than Company Y. Given this information, which of the following statements is most correct? a. Co

Accounting Problems

Please help check and correct my accounting problems: Analysis of Case Liquid Chemical Company Questions and Problems for Consideration 1. Given the two alternatives do the work inside or subcontract it to Packages Ltd? 2. What are the advantages of one alternative over the other? 3. Which action would you favor?

Samson Enterprises: Allocate costs using the step-down method

Samson Enterprises uses the step-down method to allocate service department costs to revenue-producing departments. The support departments, personnel and janitorial, allocate their costs based on the number of employees and departmental square footage, respectively. Relevant data are presented as follows:

Accounting Problems: 1. Paulson Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next year... (questions continued in attachment)

Please see attached file for complete details: 1. Paulson Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next year: Paulson estimated that 40,000 direct labor hours and 20,000 machine hours would b

Gattonside Gumbo Company

See attachment for company information. Thanks. (a) State five assumptions which are made when preparing break-even charts. State one limitation of each assumption. (b) Using marginal costing, calculate the net profit if i) 7500 units are produced and sold; ii) 9000 units are produced and sold. (c) Calculate the num

Basic financial analysis

Just need some help on several questions on basic financial analysis. I have an idea about how to do it but I want to make sure I'm heading in the right direction! Questions (also attached Excel file for the data): D. Calculate the 2005 debt, times-interest earned and EBITDA coverage ratios. How does this company compare

EBIT and EPS Calculations for Mattel

If Mattel engaged in a capital acquisition program that expected to improve EBIT by 10% in 2004. How do I calculate the EBIT/EPS for debt financing. How do I calculate the EBIT/EPS for equity financing. Based on the above calculations what would be the best capital structure. Please explain and let me know where to f

Transfer pricing

SportCo, Inc. is a multidivisional company that produces and sells athletic equipment. Division 1 produces components for a variety of products, while Division 2 assembles the components and packages the finished product. Both divisions are free to buy and sell internally or externally. For a particular soccer ball, the cost

Textron Industries: residual income, ROI, evaluate a plant expansion opportunity

Lakeesha Roberts is a successful division manager for Textron Industries. Her division's ROI currently is 22%. Roberts is evaluating a plant expansion opportunity that is expected to produce an annual income of $500,000 and require an investment of $3,000,000. The corporation's cost of capital is 12%. a. If Roberts' perfo

Evaluating a Business: Andre's Hair Styling

Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. Assume that the only

Taxes; Life Insurance; Family Maintenance Fund; Needs Approach

Sue and Tom Wright are assistant professors at the local university. They each take home about $40,000 per year after taxes. Sue is 37 years of age, and Tom is 35. Their two children, Mike and Karen, are 13 and 11. Were either one to die, they estimate that the remaining family members would need about 75% of the present comb

Calculate the Standard and Actual Quantities and Variances

On May 1, 2003 Goodman Company began the manufacture of a new mechanical device known as "Dandy'. The company installed cost system in accounting for manufacturing costs. The standard cost for a unit of "Dandy' are as follows: Raw Materials 6 lbs @ $1 per lb. $6.00 DL 1 hour @ $4/ hr 4.00 OH

Compute DM, DL and OH (4-WAY).

Mayol Company produces widgets with following standard costs per unit: DM (3 lb @ 70/lb)---- $2.10 DL (2 hrs @ $3.50/hrs)---$7.00 Variable OH (2 hrs @ $.50/hr)---1.00 Fixed OH (2 hours @ $2.50/hr)---5.00 Normal monthly production is 7,100 units. During August, the company manufactured 6,950 units. 25,000 lbs of DM wer