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Accounting

Price and Issuance of Bonds

Please help with the following problem. Company issues 100, $1,000 face value, 8% (stated rate), and 3-year U.S. corporate bonds on January 1, 2010 when the market rate for similar risk bonds is 10%. Show the calculation of the issue price of the bonds and the JE to record the issuance of the bonds. my answer is Step

Cost Accounting

EXERCISE 6- 5.Auburn Banking and Loan Company has six service departments: 1. Human Resources ( hires employees and manages benefits) 2. Duplicating ( performs copy services) 3. Janitorial ( provides routine cleaning services) 4. Accounting ( provides accounting services) 5. Graphic Design ( designs forms) 6. Food Se

FASB Research

A company develops computer software. When can the development costs be capitalized? When must that capitalization be stopped? Using Codification write a brief summary of your finding in a memo format Also include your Codification research references and notes (cut and paste from Codification) and attach these to the m

Equivalent Annual Cost for the Blooper Industry

Blooper Industries must replace its magnoosium purification system. Quick & Dirty Systems sells a relatively cheap purification system for $12 million. The system will last 4 years. Do-It-Right sells a sturdier but more expensive system for $13 million; it will last for 5 years. Both systems entail $2 million in operating costs;

Budgeting, Dollie Inc.

The budget director of Dollie Inc., with the help of the finance department, has compiled the following information for use in creating the budgeted income statement for January 20xx: a. Estimated sales for January Luxury dollhouse: 2,000 units at $200 per unit Standard dollhouse: 3,500 units at $150 per unit b. Esti

Accounting: Revenue/Expense Questions

See the attachment. ? The dividends accounts shown as a expense in the other Revenue/Expense section of the income statement (T/F) ? If the company purchases manufacturing equipment during the year, this will be reflected as a cash outflow in the investing section of the Statement of Cash Flow. (T/F) ? Accrued Utilities Exp

Primary purpose of defining different reserve categories

Some of the reserves mentioned are illustrated with the accounts of Swire Pacific Limited shown in Exhibit 13-9. Swire Pacific Limited is based in Hong Kong and is one of the largest companies in the world. The primary operations of the company are in the regions of Hong Kong, China, and Taiwan, where it has operated for more th

Accounting for Stock Transactions

See the attachment. Morris Corporation is publicly owned, and its shares are traded on a national stock exchange. Morris has 16,000 shares of $2 stated value common stock authorized. Only 75% of these shares have been issued, and of the shares issued, only 11,000 are outstanding. On December 31, 2012, the Stockholders' Equity

What are commonly used components when measuring economic damages in a wrongful discharge case? Describe each component and explain why it should be used in the damage calculation. -- The components include: Lost Wages: This includes all wages that would have been paid to the employee, including salary, bonuses, reimbursed expenses, and all other forms of direct and indirect compensation. This is used in the calculation because it is what the employee is directly out - on a wrongful basis. Lost tax payments that the employer would have paid: This includes FICA tax payments that the employer would have paid on behalf of the employee, and is included because it is the tax portion of the lost wages. Lost health insurance and other benefit payments that the employer would have paid: Includes all employee health and medical benefits, and other employee benefits, and is included because it is treated in the same way that a lost wage is treated by the courts in a wrongful discharge case. 12-15. What are the components of measuring the economic damages from the loss of household services? -- This applies typically when a person is injured or killed and can no longer perform household services. The components of measurement include examining what the amount of services were that the person contributed to the household before sustaining the injury or being killed. It involves an examination of their exact role and duties in the household. The second measurement is to determine how much of those same services the person can provide after the loss. This is applicable to those that have suffered injury. The final measurement is to then determine what the value is, of the services that were lost, or that can no longer be performed by the individual. 13-5. For what purposes do computer forensic specialists analyze electronic data? -- The analysis of data is performed to ensure that all forms of electronic evidence contained on the specific device being analyzed is preserved, as part of the discovery process in an investigation. Computer forensics has four main parts, which include identification, preservation, extraction, and the presentation of electronic data. By analyzing the data, the forensic examiner is then able to identify specific evidence and data from the electronic means used to analyze the electronic data. 13-7. In what ways can electronic evidence be destroyed so that it is no longer admissible in court? Explain your answer. -- People can go to all different types of extremes to destroy evidence, making it impossible to be used in court. With electronic evidence, computers are very susceptible to magnetic fields. There have been cases where the suspects have purposely exposed the computer or electronic device to a highly magnetic field, to destroy the data. Others have taken the computer or device, and if it was portable enough, completely slammed it against a concrete floor or other surface, to make the computer and data completely unreadable.

What are commonly used components when measuring economic damages in a wrongful discharge case? Describe each component and explain why it should be used in the damage calculation. -- The components include: Lost Wages: This includes all wages that would have been paid to the employee, including salary, bonuses, reimburs

Glen recently graduated with and MBA, passed the CMA exam

1. Glen recently graduated with and MBA, passed the CMA exam and received a CMA certificate, and took a job with a large corporation as a cost analyst reporting to the manager of a production line. Glen submitted his first overhead budget, and his manager has asked him to revise his estimated factory overhead rate by increasing

Overhead Variances Assignment

1. Crystal Glassware Company has the following standards and flexible budget data. Standard variable overhead rate................. $6.00 per direct labor hour Standard quantity of direct labor................2 hours per unit of output Budgeted fixed overhead........................$100,000 Budgeted output...................

Tax strategies for individual investments and planning

1. Generally, tax strategies operate in two time frames - now and later. " Now" refers to the twelve months of the current tax year. "Later" refers to the long-range tax strategies that benefit taxpayer future. This includes maximizing the tax-deferred savings offered by a qualified retirement plan, such as a 401(k). One strat

Key Statistics on Pfizer

Please help with the following problem regarding key statistics on Pfizer. Provide at least 300 words in your answer. Pfizer's book value per share is $11.71 but it's trading at almost twice that amount. Why are they different? See the following link before answering the question. http://finance.yahoo.com/q/ks?s=PFE+Key

Using the DuPont Model to Compute ROI

Please help answer the following problems. Using the DuPont model, perform ROI analysis for the following: a. Firm D has net income of $83,700, sales of $2,790,000, and average total assets of $1,395,000. Calculate the firm's margin, turnover, and ROI. b. Firm E has net income of $150,000, sales of $2,500,000, and ROI

Principles for Recognizing Unusual and Suspicious Transactions

KYC procedures are the underlying principles for recognizing unusual and suspicious transactions or instructions. These transactions or instructions would be inconsistent with a normal customer's transactions or attitudes. Describe what constitutes "suspicious activity" for a bank customer and a corporate customer. Describ

Performance Report

Banner Inc.bases its variable overhead performance report on the actual direct labor hours of the period. Data concerning the most recent year that ended on Dec. 31 are as follows: Budgeted direct labor hours 12,000 Actual direct labor hours 13,500 Standard direct laabor hou

Determining the amount of material needed

Sally Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Finished goods - 20,000 units at the beginning of the period and 70,000 units at the end. Raw Materials - 50,000 grams at the beginning of the period and 40,000 grams at the end

Bo Company makes collections on sales according

3. Bo Company makes collections on sales according to the following schedule: 30% in the month of sale 60% in the month following sale 8% in the second month following sale The following sales are expected: $100,000 in January, $120,000 in February, and $110,000 in March. Cash collections in March should be budge

Amount of overhead cost & ABC

2. Winston Corporation's activity-based costing system has three activity cost pools-Fabricating, Setting Up, and Other. Costs in the Fabricating cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost p

gross profit method for Astaire Company

(Gross Profit Method) Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $203,200 Purchases (gross) 812,800 Freight-in 38,100 Sales 1,270,000 Sales returns 88,900 Purchase discounts 15,240

Integrated Potato Chips problem#31 what payments will you receive?

Integrated Potato Chips paid a $1.70 per share dividend yesterday. You expect the dividend to grow steadily at a rate of 5% per year. a. What is the expected dividend in each of the next 3 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Expected Dividend Year 1