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    Operational Accounting for the Baseball Hall of Fame

    Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Active-Cardz with a special order. The Hall of Fame wishes to purchase 50,000 base-ball card packs for a special promotional campaign and offers $0.37 per pack, a total of $18,500. Active-Cardz's total production cost is $0.57 per pack, as follows: Var

    Accounting for Income Taxes: Different Approaches

    Mark or Make is a bourbon distillery. Sales have been steady for the past three years and operating costs have remained unchanged. On January 1, 2037, Mark or Make took advantage of a special deal to prepay its rent for three years at a substantial savings. The amount of the prepayment was $60,000. The income statement items (ex

    Consequences of Improper Use of Standard Costs

    There are several potential problems that can occur from the improper use of standard costs. Labor quantity standards and efficiency variances assume that production is labor-paced. However, output in many companies is determined by the processing speed of machines. Also, too much emphasis on meeting the standards may overshadow

    Reducing Overhead Costs to Survive the Recession - Article Summary

    Kindly summarize the following article: 5 Keys to Survival After the Recession: Reduce Overhead Costs & Maintain Quality by Ashley Jernigan Website: http://unitherm.com/blog/manufacturing/5-keys-to-survival-after-the-recession-reduce-overhead-costs-maintain-quality-2/

    Taxation/Corporation Taxes

    Problem 1. Betsy receives a salary of $50,000 from her employer (a retail clothing store) and several fringe benefits. Her employer pays premiums of $300 for her $40,000 group term life insurance coverage and pays $2,400 for medical insurance premiums. Her employer provides dependent care facilities (where she places her youn

    American Opportunity Tax Credit

    Janie graduates from high school in 2012 and enrolls in college in the fall. her parents pay $4,000 for her tutiion and fees. a. assuming janie's parents have agi of 170,000, what is the american opportunity credit they can claim for janie? b. assume her parents have agi of 75,000, whats the american opportunity credit they ca

    Differences, NOL, Allocation Methods, and Taxes

    1. What are the permanent and temporary differences? 2. What is NOL? Why does it occur? 3. What are the allocation methods? 4. What are the deferred tax assets and deferred tax liability? 5. What is the earnings conservatism ratio?

    SFAS No. 115 and IAS No. 25

    Discuss whether U.S. GAAP under SFAS No. 115 or the requirements of IAS No. 25 are more consistent with the following concepts: i. Conservatism ii. Comparability iii. Relevance iv. Neutrality v. Representational faithfulness vi. Physical capital maintenance

    Taxation/Corporation Tax

    Problem 1. When Keith created a new corporation as the sole shareholder, he was advise by his accountant to treat 50% of the amount invested as a loan and 50% as a purchase of stock. What are the advantages and disadvantages of this structure as compared with treating the entire investment as a purchase of stock? Problem 2.

    Thomas Company: research and development

    The Thomas Company is in the process of developing a revolutionary new product. A new division of the company was formed to develop, manufacture, and market this product. As of year-end (December 31, 2010), the product has not been manufactured for resale; however, a prototype unit was built and is in operation. Throughout 20

    Permitted Disparity

    The Code's "integration" or "permitted disparity" rules permit an employer's allocation or benefit accrual formula to provide a lower rate for a participant's compensation at or in excess of Social Security's maximum taxable wage base than for compensation below this maximum taxable wage base. Why? What does this mean for the em

    Accounting conversation

    The following is an excerpt from a conversation between two employees of Linquest Technologies, Don Corbet and Rita Shevlin. Don is the accounts payable clerk, and Rita is the cashier. Don: Rita, could I get your opinion on something? Rita: Sure, Don. Don: Do you know Margaret, the fixed assets clerk? Rita: I know wh

    Accounting Systems and Financial Reporting

    1. What is XBRL? How will it effect financial reporting? Please Explain. 2. What are the main types of accounting software used in a restaurant setting or organization? What are the benefits and limitations of this software? Please Explain. 3. What are some of the hardware components of the PC at work? How are they differe

    new lease accounting rules

    Provide an article summary on the following article http://www.areadevelopment.com/AssetManagement/jan2011/new-lease-accounting-paradigm54993.shtml

    Calculating Return of Investment

    Raddington Industries produces tool-and-die machinery for various manufacturers. Two years ago, the company expanded vertically by acquiring Regis Steel Company, one of its suppliers of alloy steel plates. In order to manage the two separate businesses, the operations of Regis Steel are reported separately as an investment cente

    Fringe Benefits

    Why are fringe benefits provided by employers to employees more valuable to those employees than if the employer simply gave the employees the money necessary to purchase those fringe benefits?

    Cafeteria Plans

    How do Cafeteria Plans benefit employers? How do they benefit employees? Please answer questions and provide supporting resources.

    Purpose of Six Principles in the AICPA's CPC

    What are the 6 principles in the AICPA's CPC and the purpose of each principle? Can you also please help me find three companies of codes of conduct of major public U.S. companies?

    Wyco Company

    Wyco Company manufactures toasters. For the first 8 months of 2011, the company reported the following operating results while operating at 75% of plant capacity. Sales (400,000 units) $4,000,000 Cost of goods sold $2,400,000 Gross profit $1,600,000 Operating expenses $900,000 Net income $700

    Braemar Saddlery: Under and Over Applied Overhead

    Braemar Saddlery uses department budgets and performance reports in planning and controlling its manufacturing operations. The following annual performance report for the custom saddle production department was presented to the president of the company: Budgeted Costs for 5,000 Units Per Unit (see attached for better form

    Technology and Accounting

    1. Why would an organization want to integrate its IS functions? Please explain 2. How do information systems increase the efficiency and effectiveness of business processes in accounting functions? Please explain 3. What are the advantages and disadvantages of using real time versus batch accounting information architectu

    Corporation Tax: Warner Corporation

    The Warner Corporation has a gross income of $560,000. It has business expenses of $325,000, a capital loss of $20,000 and $2,500 of interest income on temporary investments. What is the corporation's taxable income?

    Using target costing to fix pricing problems

    The following conversation took place between Dean Lancaster, vice president of marketing, and Dina Conaway, controller of Redwood Computer Company: Dean: I am really excited about our new computer coming out. I think it will be a real market success. Dina: I'm really glad you think so. I know that our success will be de

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