1. What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? Provide a specific example. 2. Why do companies issue bonds? Would you rather buy a bond at a discount or a premium rate? Explain why. What is the determining
LeeWays Consulting Company is about to enter a very competitive market and will have little influence on prices that they can charge. LeeWays objective is hoping to generate a 14 percent first-year return (profit) on the firm's investment of $15,000,000. Although the return on investment in the consulting service industry is typ
The manufacturing capacity of Ritter Rotator Company's plant facility is 60,000 rotators per quarter. Operating results for the first quarter of 2009 are as follows:Sales (36,000 units @ RM10)RM360,000Less: Variable manufacturing and selling costs: 198,000, Contribution margin RM: 162,000, Fixed costs: 99,000, Operating income R
Pick ONE state from the data presented in Excel file and calculate percentage for the entire U.S. (Data and questions attached in Excel file). Calculate percentage for Colorado.
** Please see the attached file for the complete problem description ** Hill buys Loring on 7/1 for $400,000 by issuing 10,000 of $5 par, $40 fair value shares to Loring's existing shareholders. (please see the attached file) Required: a. Calculate FVINA for this example. b. Optional: Prepare an allocation schedule.
a.) What benefit does a variable provide when developing and examining models? b.) Explain the purpose of simple linear regression and scatter diagrams. Please provide a simple linear regression model and define each variable used. c.) Describe multiple regression analysis and discuss potential uses for this model.
Identify the accounting scandal at the Enron corporation that resulted in a loss of reputation to the accounting profession. Explain the crime(s) Enron committed. As a result of these accounting scandals, the AICPA recognized the need for accounting professionals to change their attitudes toward fraud detection by revising S
1) What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled? 2) If the prices of Coca-Cola and Pepsi remained constant, what would be the consumers typical buying response to these products if their income was reduced by 30%? 3) Suppose all carbonated beverages tripled in price. How would the
In 20X8, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. What is the amount and nature of Erin's capital gains and losses?
Arlington LLC traded machinery used in its business to a machinery dealer for some new machinery. Arlington originally purchased the machinery for $60,000 and it had an adjusted basis of $28,000 at the time of the exchange. The new machinery had a fair market value of $35,000. Arlington also received $2,000 of office equipment i
Art's Boutique announced that for the period ending December 31, 2011, it had revenues of $640,000. The company's costs (excluding depreciation and amortization) amounted to 75% of revenues, and Art's boutique had interest expenses of $40,000 and depreciation of 60,000. What is the firm's net income if the tax rate was 34 perc
The media frequently uses loaded terminology, but what is the outcome when legislators use loaded terminology? I think we all can agree that the economy is a hot topic and there are many theories on what should be done. I think one of the ways that officials slant the views is by using loaded terminology. Consider the typ
(Carryback and Carryforward of NOL, No Valuation Account, No Temporary differences) The pretax financial income (or loss) figures for Synergetics Company are as follows: 2006 $160,000 2007 250,000 2008 90,000 2009 (160,000)
Assume the pre-tax profit of $50,000 has been earned by a business, and the owner/proprietor wants to withdraw all of the after-tax profit for personal use. Assume the tax rate for a C corporation is 33%, while the rate for a person is 25%. Find the after-tax earnings available under the corporate and proprietorship forms of b
Please help answer the following questions. Should management only be concerned with producing returns for their investors or do they need to consider the needs of other stakeholders? Before the financial crisis I do not think that the loan officers paid close attention to quarterly financials. Currently, it probably depe
Please help with the following problem regarding temporary employees. Provide at least 200 words in the solution. Consider temporary employees who are employed by temporary agencies. How is this addressed in reporting for a company that is using the temporary agency? Would the temporary agency be considered a miscellaneous e
Please help with the following accounting problem. Read the following ProQuest article: VanZante, N. (2007, April). Helping Students See the "Big Picture" of Variance Analysis. Management Accounting Quarterly, 8(3), 39-40, 42-47. Based on the readings for the week, discuss your opinion on the need for variance analysis in ei
Please help with the following problem. Provide at least 300 words. Need help in researching a business that uses job order costing and understanding the complete breakdown of the job order costing (i.e. the process and the documents used to accumulate product costs) that the business uses.
1. (a) Maria Stanford oversees her company's largest and most profitable investment center. She has asked you, as her staff accountant, to compute the center's ROI, residual income and EVA for the month of August, using the following information: August 2001 operating income $300,000 August 2001 sales
1. A brief description of Krispy Kreme's annual cash bonus plan for top executives follows. One way Krispy Kreme executives can achieve the revenue target is to open new stores as fast as possible. Explain why this might alarm shareholders. 2. Why might it be important for the bonus plan to use the same EBITDA definition used
Suppose you and two friends each invested $100,000 in an oil and gas partnership. The general partner, XYZ Gamble, Inc., invests no cash but makes all operating decisions for the partnership, including where and how deep to drill for oil. Drilling costs plus a management fee are charged against the $300,000 of cash you and your
a) What are the optional elements that are often included in an annual report? b) What are the elements of an annual report that are required by the SEC? c) Describe the contents of the Management Discussion. d) Describe the contents of the Auditors Report. e) Describe the contents of the Selected Financial Data.
Day Street Deli's owner is disturbed by the poor profit performance of his ice cream counter. He has prepared the following profit analysis for the year that just ended. Sales $45,000 Less: Cost of food 20,000 Gross profit 25,000
Greenville Corporation is considering the addition of a new product to its current product lines. The expected cost and revenue data for the new product are as follows: Annual sales 3,000 unts Selling price per unit $309 Variable costs per unit: Production $130 Selling
In the attached document is operating data from Brown Inc. For last year: a. The average operating assets amounted to: b. The residual income was: c. The margin used in ROI calculations was:
In the case of a privately held company, what should be the focus of management, to meet all the reporting guidelines set by the FASB ASC, or to maximize the profits of the company?
#1. Flexible Budgets: Joe's Lawn Service primarily mows lawns for residential customers. Management has determined direct labor hours is the primary cost driver and has developed the following cost equations based on direct labor hours: Grooming Supplies (variable) y= $0 + $4.00x Direct Labor (variable) y= $0 + $12.00x
Beverage Products, LLC, manufactures metal beverage containers. The division that manufactures soft-drink beverage cans for the North American market has two plants that operate 24 hours a day, 365 days a year. The plants are evaluated as cost centers. Small tools and supplies are considered variable overhead. Depreciation and r
Luce & Morgan, a law firm in downtown Jefferson City, is considering opening a legal clinic for middle- and low-income clients. The clinic would bill at a rate of $18 per hour. It would employ law students as paraprofessional help and pay them $9 per hour. Other variable costs are anticipated to be $5.40 per hour, and annual fix
Whitehouse Company manufactures major appliances. Because of growing interest in its products, it has just had its most successful year. In preparing the budget for next year, its controller compiled these data*. Using the high-low method, determine the variable electricity cost per machine hour per machine hour? Determine