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    Financial Calculation

    Here is the assignment. I am stumped. It is as follows: Nancy Tai has recently opened a revolving charge account with MasterCard. Her credit limit is $1000, but she has not charged that much since opening the account. Nancy hasn't had the time to review her monthly statements as promptly as she should, but over the upcoming

    Journalizing with discounts

    On January 1, 2002, Case Western Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $4,700. Case Western Company prepares financial statements annually. During the year the following selected transactions occurred.Jan. 5 Sold $7,000 of merchandise to Garth Brooks Company, terms n/30. Feb. 2 Acc

    Please review

    Please review my computations. I need help with part D, please. --- AFN produces plastic that is used for injection molding applications such as gears for small motors. In 2002, the first year of operations, AFN produced 4,000 tons of plastic and sold 3,000 tons. In 2003, the productin and sales results were exactly reversed

    Management Accounting

    Assuming I ran a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650 Item: Building Rent Total Annual Cost: 9000 Identify which cost item above is fixed and variable and why? What is the cost per unit of each?

    Financial ratios: Identify four ratios and indicate what they tell about a company

    Financial ratios are important to the understanding of the financial health of a company. You and your colleagues work for a financial services firm. Your are discussing the merits of the various financial ratios. Identify four financial ratios and state what they tell you about a firm and why it's important to understand what t

    ACCOUNTING CASE ONE PAGE

    This is for Accounting utilizing Accounting for Decision Making and Control, 5th edition by Jerold L. Zimmerman Formula 409 "I used to run the company that made formula 409, the spray cleaner. From modest entrepreneurial beginnings, we'd gone national and shipped the hell out of P&G, Colgate, Drackett, and every other gia

    Flow Chart for a retail store to streamline business process

    Chart symbology - SQUARES for the entity or subject, ARROWS for data flow, RECTANGLE with rounded corners for process & elongated or more flat looking rectangles for data store. Scenario: An analyst is visiting a retail store to streamline there business process and use some/all of the following information for the flow chart

    Accounting problem

    (See attached file for full problem description) --- This is for Accounting utilizing Accounting for Decision Making and Control, 5th edition, by Jerold L. Zimmerman. Each question should be approximately one to two full pages to allow a thorough discussion of the case material. Typed double space. Candice Company Candi

    Production Cost Report

    Larry Lair has recently been promoted to production manager, and so he has just started to receive various managerial reports. One of the reports he has received is the production cost report that you prepared. It showed that his department had 1,000 equivalent units in ending inventory. His department has had a history of not k

    Accounting Final Exam (Practice)

    1. On January 31, an entity's balance sheet showed total assets of $750 and liabilities of $250. Owners' equity at January 31 was: A) $ 500 B) $1,000 C) $ 750 D) $ 250 Use the following to answer questions 2 - 3: At the beginning of the fiscal year, the b

    Maximize profits

    Let's maximize profits through FASB statement NO. 115 Fasb statement no. 115 is another example of the boards emphasis on the balance sheet as contrasted with the income statement . As treasurer of diamond instrument , you desire to maximize income over the short run . Diamond has had excess cash , and you have chosen to inv

    Standard versus actual costs

    This is a problem from my management accounting homework. I don't am confused b/c there is so much information missing from the problem...but then, they wouldn't leave out information that we need, so I know I am wrong in what I am starting to do... The question is...for each of the following 2 jobs making 2 different produc

    Gainsharing

    This is a problem from my Management Accounting textbook by Kaplan, Young, and Atkinson - fourth edition. It is about gainsharing. A company manufactures breakfast cereals. The production workers are part of a gainsharing program that works like this: A target level of labor costs is set based on the achieved level of prod

    3 Accounting Questions

    1. Rockwell Paper Company had earnings after taxes of $580,000 in the year 2003 with 400,000 shares of stock outstanding. On January 1, 2004, the firm issued 35,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 25% (a) Compute earning per share f

    Controlling Cash

    Which of the following is not a method to control cash? A. Using electronic funds transfers B. Using bank accounts C. Using a petty cash fund D. Performing surprise cash counts

    Outstanding checks

    Outstanding checks will cause: A. The bank balance to be larger than the company's book balance B. The book balance to be larger than the company's bank balance C. No change to either balance D. None of the above

    NSF Checks

    10. A Not Sufficient Funds (NSF) check will cause: A. The bank balance to be larger than the company's book balance B. The book balance to be larger than the company's bank balance C. No change to either balance D. None of the above

    Post Tax Returns

    Bernie and Pam Britten are a young married couple beginning careers and establishing a household. They will each make about $50,000 next year and will have accumulated about $40,000 to invest. They now rent an apartment but are considering purchasing a condominium for $100,000. If they do, a down payment of $10,000 will be requi

    Cost Allocation & Activity Based Costing: Overhead Costs

    1. Using activity-based systems, the stage of the management cycle that identifies actions that will reduce the full product or service cost is a. planning. b. executing. c. reviewing. d. reporting. 2. Lasso Corp. budgeted $250,000 of overhead cost for 2001. Actual overhead costs for the year were $240,0

    Stock Problem: Rate of Return

    Problem attached. 1. Suppose you purchased the Oct. 170 calls. What would your return be if the stock price ended at $185 on Oct. 16 AND how does this rate of return compare to just buying and selling the stock?... (Compete problem set and tables found in attached file).

    Make or Buy

    The ski selected is a mass market ski with a special bindings. it will be sold to wholesaler for $80 per pair. Because of availability capacity, no additional fixed charges will be incurred to produce the skis. A $100,000 fixed charge will be absorbed by the skis, however, to allocate a fair share of the company's present fix

    PREPARE A PERFORMANCE REPORT

    SUPPOSE THAT FOR 20X1 A PARTICULAR STORE BUDGETED REVENUE OF $220,000, A 10% INCREASE OVER THE CURRENT REVENUE OF $200,00. THE ACTIONS LISTED IN EXIBIT 1-2 RESULTED IN SIX NEW BUDGETED PRODUCTS AND A TOTAL ADVERTISING BUDGET OF $15,000. ACTUAL RESULTS WERE _____________________________________ NEW DRINKS

    How much would Division 3's income from operations increase?

    Materials used by Aero-Products Inc. in producing Division 3's product are currently purchasing from outside suppliers at a cost of $5 per unit. However, the same materials are available from Division 6. Division 6 has unused capacity and can produce the materials needed by Division 3 at a variable cost of $3 per unit. A tran