The Analtoly Corporation is an electronics dealer. Sales for the last year $ 4.5 million , and costs of goods sold and operating expenses totaled $ 3.2 million. Analtoly also paid $ 150,000 in interest expense, and depreciation expense totaled $ 50,000. In addition, the company sold securities for $ 120,000 that it purchased 4
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The Fair Corporation had sales of $ 5 million this past year. The cost of goods sold was $ 4.3 million, and operating costs were $ 100,000. Dividend income totaled $ 5,000. The firm sold land for $ 150,000 that had cost $ 100,000 5 months ago. The firm received $ 150 per share from the sale of 1000 shares of stock. The stock w
The following information is available for Nielsen Company after its first year of operations: Income before taxes $250,000 Federal income tax payable $104,000 Deferred income tax (4,000) Income tax expense 100,000 Net income $150,000 Nielsen estimates its annual warranty expense as a percentage of sales. The
8. Wagner Company sold some machinery to Granger Company on January 1, 2007. The cash selling price would have been $568,620. Granger entered into an installment sales contract which required annual payments of $150,000, including interest at 10%, over five years. The first payment was due on December 31, 2007. What amount of in
1. When an organization sets standards, how does that impact the individuals in the organization? How much consideration should be given to those impacts? 2. How does an organization determine whether an activity "matches" cost behaviors?
Please see attached file. Thank you. Maria Chavez owns a catering company that serves food and beverages at parties and business functions. Chavez's business is seasonal, with a heavy schedule during the summer months and holidays and a lighter schedule at other times. One of the major events Chavez's customers request
Gigabyte, Inc. manufactures 3 products for the computer industry: -(product G): annual sales, 8,000 units -(product T): annual sales, 15,000 units -(product W): annual sales, 4,000 units The company uses a traditional, volume-based product-costing system with manufacturing overhead applied on the basis of direct-labor dollar
The Target Copy Company is contemplating the replacement of its old printing machine with a new model costing $60,000. The old machine, which originally cost $40,000, has 6 years of expected life remaining and a current book value of $30,000 versus a current market value of $24,000. Target's corporate tax rate is 40 percent. If
This problem tests the ability to calculate total revenue, total expenses and net income or loss from an analysis of comparative balance sheets.
3-9 Loss, Carry-back, Carry-forward The Herrman Company has made $150,000 before taxes during each of the last 15 years, and it expects to make $150,000 a year before taxes in the future. However, in 2005 the firm incurred a loss of $650,000. The firm will claim tax a credit at the Treasury. Show how it calculates this cr
Hi, I have to select a topic relevant to contemporary business issues and do a research paper on it. My problem is that I'm not quite sure what that means. Where do I start in coming up with a business related issue? Can someone please give me some really good examples of business related issues that can be written as a 15-20 p
E2-2 (Qualitative Characteristics) The qualitative characteristics that make accounting information useful for decision-making purposes are as follows. Relevance Timeliness Representational faithfulness Reliability Verifiability Comparability Predictive value Neutrality Consistency Feedback value Instructions Identify the
Dear OTA, Please help guide and help me with steps as per the requirement. Please see attached file for full problem description. Cost Accounting - A managerial emphasis 1. Cost behaviors: Exercise 2-21 on page 53 → try to use Excel for the graphs 2. CVP: Exercise 3-20 on page 84 → build an Excel workshee
Balance Sheet Preparation From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006. Spreadsheet Accounts payable $62,500 Accounts receivable 123,000 Buildings 418,500 Owners' equity, 1/1/06 210,000 Cash 179,750 Distributions to owners during 2006 21,750 S
I have an Accounting II problem that is asking me to estimate the cost of the merchandise inventory of San Lucas Company on December 31 by the gross profit method. The data shows only the cost column and I need to figure out the retail column. However, I do not know how to figure out the retail side. One I get the first coupl
It is payday at ET Ice Cream and you need to ensure that the correct payroll and tax adjustments are made to the company books. In a typical payroll entry taxes are withheld from employees pay and must be paid to various state agencies. Identify the payroll and tax adjustments to be made. Identify the agencies to which ta
Wynne Corp. and its divisions are engaged solely in manufacturing operations. The following data (consistent with prior years' data) pertain to the industries in which operations were conducted for the year ended December 31, 2004. Revenue Profit Assets 1 2/
A) Price elasticity of demand is telling us about the slope of the demand curve. Price elasticity of demand is asking: Is the demand curve really steep or even vertical (inelastic) where a large price change will have very little effect on the quantity demanded? Is the demand curve really flat or horizontal (elastic) where a
Using the following accounting elements: assets, liabilities, owners' equity, capital stock, retained earnings, revenues, expenses, and dividends. Which of these elements are increased by a debit entry, and which are increased by a credit entry? Give a transaction for each item that would result in a net increase in its balance
QED Electronics Company had the following transactions during April while conducting its television and stereo repair business. 1. A new repair truck was purchased for $19,000. 2. Parts with a cost of $1,600 were received and used during April. 3. Service revenue for the month was $33,400, but only $20,500 was cash sales.
Determine the amount of total assets, current assets, and noncurrent assets at the end of the period, given the following data: Current liability, ending balance $50,000 Current ratio, ending 1:6:1 Owners' equity, beginning balance $120,000 Inventory, beginning balance $ 35,000 Purchases during the period
A firm sells 25,000 widgets annually that it purchases from a widget supplier for $10 each. It costs the firm $62.50 in administrative costs to place an order for the widgets and, on the average, costs $0.50 in carrying costs to maintain a widget in inventory. What is the optimal quantity of widgets to be purchased in ea
Please help with the following problem. When using discounted cash flow analysis to value an asset, explain why it is important to measure the risk of the asset and to associate an expected return with that risk measure.
John Right, an analyst with Stock Pickers Inc., claims: "It is not worth my time to develop detailed forecasts of sales growth, profit margins, et cetera, to make earnings projections. I can be almost as accurate, at virtually no cost, using the random walk model to forecast earnings." What is the random walk model? Do you agree
Which of the following types of businesses do you expect to show a high of degree of seasonality in quarterly earnings? Explain why. Supermarket Pharmaceutical Company Software Company Auto Manufacturer Clothing Retailer
Accounting theory course related instruction on For your convenience, I have attached a formatted MS Word file containing requested information on how our governmental standard setting policies affect investor confidence. I have also included information on the history and practices of govermental involvement in the standard setting practice that might help to increase your understanding of the subject.
How does government involvement in standard setting affect investor confidence? This paper answers this question with a thorough history on the accounting standards setting process.
In your own words, based on experience in business, add your explanation. Thanks. A) Are microeconomic conditions influenced a lot or a little by the macroeconomic conditions? And visa versa? B) Do you think that managers manage differently if they are at a for-profit verses and not-for-profit company? C) Some t
1) Design a simulation of a business situation by preparing a table based on the Monte Carlo model for machine breakdown repair. 2) How does the simulation work and how was the data for the probabilty distribution obtained?
Dolce Refinery, Inc. processes coconuts. Coconuts are processed in batches. A batch of coconuts costs $60 to buy from farmers and $13 to crush in the company's plant. Two intermediate products, coconut fiber and coconut oil, emerge from the crushing process. The coconut fiber can be sold as is for $29 or processed further for $1
Greene Enterprises prepares monthly departmental reports in an effort to control its operating costs. Each department has a manager to whom the report is addressed and who is held responsible for the operating results in his or her department. The report made to Department D for October follows: Budgeted Actual Sales