Explore BrainMass


Formulas for break even

What are the formulas for: The basis break-even equation The basis breakeven equation expanded to include indirect costs and desired profit

cash transactions

The following areas could be deceiving parts of the income statement: 1) Revenues 2) General Expenses 3) Depreciation Expense Think of reasons why the above three items might be recorded on the income statement, but possibly no cash transactions.

Intermediate Accounting: Journal Entries

Scenario: My Client Ricky Gervais has come to my office with the following information: 1. On February 1, the company purchased 12% bonds of Melissa McCarthy Co. having a par value of $500,000 at 100 plus accrued interest. Interest is payable April 1 and October 1. 2. On April 1, semiannual interest is received. 3. On Ju

Proposal for appropriate controls to cover the account receivable

1. Design a proposal for the appropriate controls to cover accounts receivable. 2. the proposal must be based on the Apollo Shoes case. Your reading of the Apollo Shoes case should include board minutes and auditor messages and notes. 3. Be sure to obtain an understanding of (1) existing controls and (2) whether the contro

Dwight Corporation Accounting

At December 31, 2010, Dwight Corporation reported current assets of $390,000 and current liabilities of $200,000. The following items may have been recorded incorrectly. Dwight uses the periodic method. Please see attachment. At December 31, 2010, Dwight Corporation reported current assets of $390,000 and current liabilities

Fundamental Economics Definitions

Please provide the following definitions: - Trade-Offs - Prices and Markets - Theories and Models - Positive versus Normative Analysis - Competitive versus Noncompetitive Markets - Market Price - Market Definition-The Extent of a Market - Real Versus Nominal Prices: - Corporate Decision Making - Public Policy Design

HI-resolution Ltd manufactures Blu-ray players un its perth plant

HI-resolution Ltd manufactures Blu-ray players un its perth plant. The following costs are budgeted for January. Raw material and components $2950000 Insurance, plant $600000 Electricity, machinery $120000 Electricity, light $60000 Engineering design $610000 Depreciation, plant $700000 Depr

PROBLEM 8-4 Profit- Maximizing Price RoverPlus

PROBLEM 8- 4. Determining the Profit- Maximizing Price [ LO 1] RoverPlus, a pet product superstore, is considering pricing a new RoverPlus- labeled dog food. The company will buy the premium dog food from a company in Indiana that packs the product with a RoverPlus label. Rover pays $7 for a 50- pound bag delivered to its store.

accounting review help

- The essentials of record-keeping. - Preparation of simple financial statements. - Balance sheet: Asset and Liability measurement and recognition. - Income Statement: Revenue and expense recognition and measurement - Account receivable; advances form customers; revenue recognition. - Measuring and reporting working capi

Operating Activity for Cash Flows

Why may net cash flow from operating activities on the cash flow statement be different from the amount of net income reported on the income statement? Use a specific example to justify your answer.

Special order and Operating Capacity

Please help me with this question: What is a "special order"? Why does whether a company is operating at capacity or has excess capacity matter in deciding whether to accept the special order or not?

Constructive Receipt Argument

I think this problem may concern accrual accounting vs cash accounting for tax purposes. However, the argument has to be structured for the taxpayer to win in Tax Court. If you know the IRC Code(s), please provide. A taxpayer, who uses the cash method of accounting for tax purposes, received income in 1989, 1990, 1991 and 199

Accounting Beyond the Numbers; manual accounting system

Your friend, Wendy Geiger, owns a small retail store that sells canies and nuts. Geiger acquires her goods from a few select vendors. She generally makes purchase orders by phone and on credit. Sales are primarily for cash. Geiger keeps her own manual accounting system using a general journal and a general ledger. At the end of

Effect on the Overall Net Operating Income

1. The management of Heider Corporation is considering dropping product J14V. Data from the company's accounting system appear below: Sales $900,000 Variable expenses $384,000 Fixed manufacturing expenses $366,0

Midwest Mills: Sell or Process Further Decision

Midwest Mills has a plant that can mill wheat grain into a cracked wheat cereal and then further mill the cracked wheat into flour. The company can sell all the cracked wheat cereal that it can produce at a selling price of $ 490 per ton. In the past, the company has sold only part of its cracked wheat as cereal and has retained

South western federal taxation 2012; money laundering; net operating loss

TOO MUCH OF A GOOD THING Clark, a prospective new client, visits your office on March 12, 2011. He wants you to prepare a Form 1120S for 2010 for his washateria, wash clean, an S corporation. Clark owns at least six different businesses in your community and has a reputation of being a risk taker and an operator. He provides y

value added activities; activity based costing

(a) What are some methods a business uses to determine if the activity is value added or not? (b) How do you think business learn from customers (consumers) what is value added and what is not value added? (c) Cost pools provide more accurate cost allocation. If this method is more accurate why doesn't everyone use the ABC

Cole laboratories makes and sells a lawn fertilizer called Fastgro

Cole laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows: Standard Standard Quantity Cost per Bag Direct material 20 pounds $8.00 Direct labor 0.1 hours 1.10 Variable manuf. overhead 0.1 hours .40 The company had no beginning i

Equivalent Units of Production: Grayson Manufacturing Company

The Polishing Department of Grayson Manufacturing Company has the following production and manufacturing cost data for August. Materials are entered at the beginning of the process. Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during

Dividends, Capital Gains, Expected Rate of Return

Assume that a corporation is a constant growth company whose last dividend (D0, which was paid yesterday) was $2.00 and whose dividend is expected to grow indefinitely at a 6% rate. The discount rate is 13%. What is the firm's expected dividend stream over the next 3 years? What is the firm's current stock price? What is the

Productivity Measurements for Larson's Laundry

9-49 Larson's Laundry had the following results in 20x1 and 20x3; 20X1 20X3 Pounds of laundry processed 1,360,000 pounds 1,525,000 pounds Sales Revenue $720,000 $1,014,000 Direct- Labor hours worked 45,100 hours 46,650 hours Direct Labor cost $316,00 $408,000 The Laundry used the same facilities in 20X3 as in