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# Accounting

### Preferred shares for common shares at a specified rate?

1. Which of the following gives holders the option to exchange their preferred shares for common shares at a specified rate? Answer A. Convertible Preferred Stock B. Participating Preferred Stock C. Nonparticipating Preferred Stock D. Callable Preferred Stock 2. Carrie Funston was reviewing the bond ratings of

### One-Time Tax and Tax Revenue

Please help with the following business-related problem. Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than \$10 million. Would this be an efficient way to raise tax revenue? Why or why not?

### Federal taxation 2012

Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, such as the Bill and Melinda Gates Foundation for this assignment. Write a 3-4 page

### Suppose that the Lai Jean Co. expects before tax earnings of 5 million this coming year, assuming no liability losses

Suppose that the Lai Jean Co. expects before tax earnings of 5 million this coming year, assuming no liability losses. However, there is a 2 percent chance that Lai will lose a \$10 million lawsuit during the year. Profits are taxed at a rate of 34 percent. Assume that Lai cannot carry losses forward or backward (e.g., it has had

### Calculate and report the mean, median, and mode of the data

State again the type of data you have been collecting. Calculate and report the mean, median, and mode of the data (at lease 20 observations, preferably more). Now calculate the standard deviation of the data. For this calculation compute the difference between each one of the observations and the mean, (this number may be po

### Osage Inc. - Production and purchases budgets

Osage Inc.. has actual sales for June and July and forecast sales for August, September, October, and November as follows: Actual: June 4,150 units July 4,350 units Forecasted: August 4,200 units September 4,950 units October 3,900 units November 3,700 units Requ

### Describe fee-for service and activity based costing (ABC)

1. Consider a health care organization with which you are familiar and discuss how do provider incentives differ when the provider moves from a fee-for-service to a capitated environment? 2. Discuss briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health c

### Kudler Fine Foods Automated Process of Accounting Information Systems

Similar to any business, Kudler Fine Foods uses payroll, accounts payable, accounts receivable, and inventory processes. All four of these processes might be improved by the use of accounting information systems. Your accounting firm has assigned you to the team that will recommend systems to improve automation of these processe

### Success Strategies

Tell us your plan for career success.

### multiple-step form or the single-step form

The accountant of Weatherspoon Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2010. Rental revenue \$29,000 Interest expense 18,000 Market appreciation on

### Mallory Manufacturing Company, breakeven, absorption costing, variable costing, target profit

Mallory Manufacturing Company has a maximum productive capacity of 210,000 units per year. Normal capacity is 180,000 units per year. Standard variable manufacturing costs are \$10 per unit. Fixed factory overhead is \$360,000 per year. Variable selling expense is \$5 per unit, and fixed selling expense is \$252,000 per year. The un

### When is the Direct or Indirect Order for Inquiries Used?

Could you please explain when the direct order or an indirect order with regards to inquiries is used?

### Activity-Based Costing (ABC) and Traditional Costing

How would you describe activity based costing? Also, can you explain why it might result in more accurate product costing information than the product cost derived under the traditional costing approach?

### AIS

What are the typical outputs of an Accounting Information Systems? Why do system analysts begin by designing the outputs instead of system inputs? What type of source documents does your business or a company with which you are familiar use for Accounting Information Systems? Are the documents paper-based, electronic, or othe

### Determining account balance: percent of revenue allowance method of accounting for uncollectible accounts

1. Determining account balance: percent of revenue allowance method of accounting for uncollectible accounts The following information pertains to Leslie's Floor Store sales on account and accounts receivable Accounts receivable balance, January 1, 2012: \$52,500 Allowance for doubtful accounts, January 1, 2012: 4,725 Sal

### Managerial Accounting problems, Foggy Mountain Company, Seager & Buffet , excess capacity of machine hours, variable overhead rate, unit contribution margin, actual gain (loss) incurred

Managerial Accounting problems Foggy Mountain Company manufactures several styles of banjos. Management estimates that during the second quarter of the current year, the company will be operating at 80% of normal capacity. Because Foggy Mountain wants to increase utilization of the plant, the company has decided to consider s

### Moore Inc., target profit , The dollar value of Morey's current annual fixed costs., Prepare a pro forma income statement for Morey, showing where Endreson's decision will achieve Morey's profit objectives.

Managerial Accounting problems Moore Inc. invented a secret process to double the growth rate of hatchery trout and manufactures a variety of products related to this process. Each product is independent of the others and is treated as a separate division. Product managers have a great deal of freedom to manage their divis

### Reducing Expected Tax Payments

True or False: "This transaction will reduce expected tax payments: therefore, we should do it!" Briefly explain your answer. "For numeric solutions, provide full documentation of the process used to reach the solution. For problem analysis, use information from the Internet to perform analysis, incorporating critical thinkin

### Cost of Goods Manufactured: ABC Inc. Example

The following information pertains to ABC Manufacturing Company, Inc. Beginning Work in Process Inventory = \$50,000 Ending Work in Process Inventory = \$48,000 Beginning Finished Goods Inventory = \$180,000 Ending Finished Goods Inventory = \$195,000 Cost of Goods Manufactured = \$1,220,000 What is the cost of goods sold?

### Chelsea Tool Corporation, a machine tool manufacturing company, incurred the following wage costs on employees during June, 2009

Chelsea Tool Corporation, a machine tool manufacturing company, incurred the following wage costs on employees during June, 2009: Forklift operator in the factory \$2,000 Plant supervisor \$8,000 Marketing manager \$6,000 Assemblers

### individual taxation

1. Larry Bounds has won the gold bat award for hitting the longest home run in major league baseball this year. The bat is worth almost \$35,000. Under what conditions can Larry exclude the award from his gross income? Explain. 2. Compare and contrast start-up costs and organizational expenditures. Describe how the tax treat

### Cash and Stock Dividends

Discuss cash dividends and stock dividends. How is each recorded? When each is issued, what is the effect it may have on assets, liabilities and owner's equity?

### Kiddie Tax Calculation

Mary is 13. She receives annual interest payments of \$4000. What is her taxable income in 2011? Her parents claim her as a dependent. What is her parent's 2011 taxable income? John is 16. In 2011, he earned \$6000 working a part-time job and received \$5000 of interest income. His parents claim him as a dependent and they do no

### Antecedents of the Accounting Profession

Please provide a short commentary on the article: Antecedents of the Accounting Profession Williard E. Stone The Accounting Review Vol. 44, No. 2 (Apr., 1969), pp. 284-291 Published by: American Accounting Association

### T Account to Record Transactions

Using T accounts to record transactions involving assets, liabilities and owner's equity. Analyze each of the transaction. For each decide which accounts are affected and set up T accounts. Use plus or minus sign signs before the amounts to show the increase or decrease. 1. James Walker, an owner, made an additional investme

What are the advantages and disadvantages of the step-down method of activity-based costing relative to the step-down method of cost allocation?

### What is the relationship between the concepts cost allocation basis as used in the step-down method and cost driver as used in ABC?

What is the relationship between the concepts cost allocation basis as used in the step-down method and cost driver as used in ABC?

### What is the role provided by break-even point and how would you calculate this point? Should \$1000 be Investigated?

What is the role provided by break-even point and how would you calculate this point? Please calculate break-even point in patient days under the provided contract. What are the limitations of using break-even point and how would you incorporate this point with management strategic planning? You are attempting to develop a

### Accounting Problem : Rate of Return of an Investment

Assume that on 1/1/12 you purchased an investment for \$3000. The investment pays \$200 on 12/31 of every year that the security is held. On 1/1/17 you sell the investment for \$3500. What is the rate of return?

### Steerage

Why do providers desire steerage?