Share
Explore BrainMass

Accounting

ABC Corp factors that influence demand for health food

Understanding Real World Demand Introduction: You have been hired by ABC Corp. to evaluate the demand for health food in the market. You are invited to a team meeting for a discussion on the demand for health food. Task: Discuss the factors that influence the demand for health food in the market. 1)Give at least two fac

Paloma Co: compute payroll including employer tax liability

Please see both tabs in the attached file. Given Data P11-04A: PALOMA CO. Tax Rate Applied to FICA-Social Security 6.20% First $94,200 FICA-Medicare 1.45% Gross pay FUTA 0.80% First 7,000 SUTA 2.15% First 7,000 Gross Pay Current Week through Gross WH Name 8/18 Pay Tax Dahlia $9

William's Restaurant: classify costs, income statement

Please refer to attached. Lauren Stephens owns William's Restaurant, which sells hamburgers for carry out or drive through only. Each Hamburger sells for $2. Lauren employs several part-time employees and a full-time manager. She leases the building and hires a cleaning company to provide services on a weekly basis. Th

Relative Sales Value Method

Toms River Developers purchased land for $1 million that can be divided into 800 lots. These lots are of different sizes and shapes and are sorted into three groups: A, B, and C. Calculate the cost per lot utilizing the relative sales value method from the information below. Lots Number of Lots Sales Pric

Cumulative Voting

Anita Job owns 507 shares in the Rapid Employment Corp. (a firm that provides temporary work). There are 11 directors to be elected. Twenty-one thousand shares are outstanding. The firm has adopted cumulative voting. a. How many total votes can be cast? b. How many votes does Anita Job control? c. What percentage of

Define operating assets; discuss depreciation methods

1. What are several examples of operating assets? Why are operating assets essential to a company's long-term future? 2. What factors may contribute to the decline in usefulness of operating assets? Should the choice of depreciation method be related to these factors? Must a company choose just one method of depreciation fo

Return on Investment

The following information pertains to Murphy Hardware: Sales Revenue $1,500,000 Gross Margin 600,000 Income (Profit) 130,000 Invested Capital 400,000 Imputed interest rate 8% A) The ROI is: B) The residual income is:

Linear Model for Computing an Individual's Ideal Weight

One linear model for computing an individual's "ideal" weight uses the following equations: Ideal weight for man of height h inches: woman = 160 + 6 × (h - 65) Ideal weight for woman of height h inches: woman = 100 + 5 × (h - 60). Use Excel to sketch the graph of each of these equations on the same set of axes with h on the

Arnold Company manufactured two products, A and B, during April.

I need to solve this cost accounting problem. Please, see the attachment. Thank you. 1. Arnold Company manufactured two products, A and B, during April. For purposes of product costing, an overhead rate of application of $2.50 per direct-labor hour was used, based on budgeted annual factory overhead of $500,000 and 200,000 bu

Powell Company uses a job costing system.

I need to figure out the job costing problem. Please, see the attachment. Thank you. 1. Powell Company uses a job costing system. During the month of May, Powell spent most of its time on job A50, which was started late in April. Following is cost information for job A50, other May costs, and relevant annual estimates.

Purchase of asset

On July 1, 2008, Red Gate Farm buys a combine for $100,000 in cash. Assume that the combine is expected to have seven year life and an estimated salvage value of $16,000 at the end of that time. Required 1. Prepare the journal entry to record the purchase of the combine on July 1, 2008. 2. Compute the depreciable cost

Denny Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. The company's estimator has been involved in a long-simmering dispute with the on-site

I have several study questions that I need assistance with answering. ________________________________________ Denny Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. The company's estimator has been involved in a long-simmering dispute with the on-site work s

3-10 Johnsfield Cash Flow concepts

Johnsfield & Co. will be undertaking the following financial transactions in the next planning period. For each transaction represented in the table below, check the statement or statements that will be affected immediately. `Pro Forma Income Pro Forma Balance Transaction Cash Budget Statement S

Congratulations! You have been hired by Claire's Antiques as its new accountant. Since Claire's Antiques is a small company, you will responsible for all of its accounting functions related to financi

Congratulations! You have been hired by Claire's Antiques as its new accountant. Since Claire's Antiques is a small company, you will responsible for all of its accounting functions related to financial and managerial accounting. You are explaining your new role to your friend. After explaining what you do, she expressed sur

Reconcilliation of Absorption and Variable Costing Net Operating Income

High Tension Transformers, Inc., manufactures heavy-duty transformers for electrical switching stations. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and government. The company has provided the following data: Year 1 Year 2 Year

Rent Expense Prepaid

On Apr. 1: Does Rent Expense need to be listed first and then Prepaid Rent? Why? April 1 Signed a one year office building rental agreement for $12,000. The company paid the entire amount of $12,000. The portion of the cost related to April is recorded as an expense for April. Apr 1 Rent Expense

Calculation of dollar return after dividend payment

Suppose you bought 100 shares of stock at an initial price of $73 per share. The stock paid a dividend of $0.88 per share during the following year and the share price at the end of the year was $82. Compute your total dollar return on this investment. Does your answer change if you keep the stock instead of selling it?

Debit and Credit and Normal Balance

Also see attached file In columns (a) and (b) indicate whether the change in the account would be recorded as a debit or a credit and whether the normal balance of the account is a debit or a credit. In column (c) indicate if the basic type of account is Asset, Liability or Stockholder's Equity. (a) (b ) (c) Recorde

Benefits of Uniform Commercial Code for Business Transactions

What are the benefits of having a Uniform Commercial Code (UCC) for business transactions? There are certain warranties provided by the Uniform Commercial Code (UCC). What are the various types of warranties that could apply to a large retail store?

Mary and Joe would like to save up $10,000 by the end of three years from now to buy new furniture for their home. They currently have $2500 in a savings account set aside for the furniture. They would like to make equal year end deposits to this savings account to pay for the furniture when they purchase it three years from now. Assuming that this account pays 8% interest, how much should the year end payments be?

Mary and Joe would like to save up $10,000 by the end of three years from now to buy new furniture for their home. They currently have $2500 in a savings account set aside for the furniture. They would like to make equal year end deposits to this savings account to pay for the furniture when they purchase it three years from now