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Accounting

Green Environmental Accounting Details

Please explain in detail what is environmental accounting? Please explain in detail what is Green environmental accounting? Please explain with UK accounting standard point of view. I will be doing an essay on what is environmental accounting and I will be using empirical studies to support my essay. Please suggest some p

Amount of trade receivables and total cost per unit

Please answer the following problems (see attached file for data) During July, sales of $350,000 were made of which 20% were in cash. Credit customers paid $303 800 after deducting a 2% cash discount. How much did the trade receivables (debtors) owe to the business at 31 July? A factory produces a product with a variable

pretax financial income, income tax expense, deferred income payable

The following facts relate to McKane Corporation 1. Deferred tax liability, January 1, 2010, $60,000 2. Deferred tax asset January 1, 2010 $20,000 3. Taxable income for 2010, $115,000 4. Cumulative temporary difference at December 31, 2010 giving rise to future 5. Cumulative temporary difference at December 31, 2010 giving

This posting addresses the presentation of deferred taxes.

At December 31, 2010 Cascade had a net deferred tax liability of $45,000. An explanation of items that compose the balance is as follows Temp differences: Resulting balance in deferred taxes: -Excess tax depreciation over book depreciation $200,000 -Accrua

Gain realized and recognized

Kevin exchanges an office building used in business for one owned by Charlene. The FMV of Kevin's building is $280,000 (basis $150,000) and it is subject to a mortgage of $50,000, which is assumed by Charlene. Kevin receives $30,000 cash and Charlene's office building, which has a FMV of $200,000 (basis of $180,000). a. What is

Accounting Standards and Activity Based Management

Please help answer the following question. Provide at least 200 words and include references. How do you think Accounting Standards and Activity Based Management will affect the accounting profession and the work accountants perform?

Comment on the firm's (XYZ Corporation's) performance measures.

Scenario XYZ Corporation is a law firm in Spain. Started in 2007 with just 2 lawyers, the firm has now grown to 30 lawyers and 4 branches in Spain. The firm services mainly Small Medium Companies and walk-in retail clients. Their business has been doing well as they are known for their quality legal services at affordable

step down method

Your company has two service departments and two production departments. last year SD1 provided 60,000 hrs of service to SD2, 20,000 hrs service to PD1 and 40,000 hrs service to PD2. SD2 provided 30,000 hrs service to SD1, 10,000 hrs to PD1 and 40,000 hrs to PD2. Costs prior to allocation were $200,000 in SD1 and $200,000 in

accounting scenarios

1) Accounting standard setting has been characterized as a political process. Discuss this proposition giving an example. 2) Briefly explain what is meant by a subsequent event. Give two examples of subsequent events. 3) Briefly explain why the income statement is referred to as a change statement. 4) You have recently been h

Tax issues for sale of land owned by a company

A company is doing very well, but the land the company owns is very valuable. A developer approaches the company and offers to purchase the land for $3 million. What are some tax issues relating to the potential disposition of the land for the company and the owners of the business? Does the type of entity through which the b

Allison's allowable deductions from AGI

Allison, who is single, incurred $4,000 for unreimbursed employee expenses, $10,000 for mortgage interest and real estate taxes on her home, and $500 for investment counseling fees. Allison's AGI is $80,000. Allison's allowable deductions from AGI are (after limitations have been applied) A) $10,500. B) $12,900. C) $14,000.

Partner Reporting of Partnership Items

Please help with the following problems. Rocky and Charlie form RC Partnership as equal partners. Rocky contributes $100,000 into RC while Charlie contributes real estate with a fair market value of $100,000. During the current year, RC earned net income of $600,000. The partnership distributes $200,000 to each partner. The

What is the total tax paid on both corporate income and the corporate dividends?

Please help with the following problem. During the current tax year, Charlie Corporation generated gross income of $1,800,000 and had ordinary and necessary deductions of $1,300,000, resulting in taxable income of $500,000. If Charlie Corporation paid qualifying dividends of $200,000 to shareholders, all of whom are in the 2

Introduction to Managerial Accounting

Management Accounting plays an important role in most organizations yet it is often misunderstood by those not directly employed or involved with management accountants. Using the website below, discuss the role and responsibilities of the Management Accountant. http://www.imanet.org/ima_home.aspx

This posting addresses tax differences in different entities

Oprah is starting Oprah's Poodle Parlor and is considering alternative organizational forms. She anticipates the business will earn $100,000 from operating before compensating her for her services and before charitable contributions. Oprah, who is single, has $3,000 of income from other sources and other itemized deductions of $

block of stock

Sly and Jennifer are in the 33% tax bracket for ordinary income and the 15% bracket for capital gains. They have owned several blocks of stock for many years. They are considering the sale of two blocks of stock. The sale of one would produce a gain of $12,000 while the sale of the other would produce a loss of $18,000. For purp

Keenie Beenie Partners has gross operating revenue of $400,000

Keenie Beenie Partners has gross operating revenue of $400,000, cost of sales of %150,000, employee salaries of $40,000, a $25,000 Section 179 expense deduction, $10,000 of other depreciation, interest income of $3,000, a $4,000 capital loss, and a $600 charitable contribution deduction. a. What are the partnership's bottom

Defining the Elements of a Fraud

Please help with the following problem. Provide at least 200 words in the solution. Select a type of fraud, and identify (1) the perpetrator of the fraud, (2) the victim of the fraud, and (3) provide an explanation of what the fraud entails. Also, identify one internal control that could be implemented to reduce or prevent t

accounting scandals

1. Have the scandals of the early 2000s helped managers prioritize ethics? Explain. 2. Have we learned our lesson as a society? Explain. 3. Do we now have sufficient checks and balances in place to prevent the crises of the 1990s and early 2000s? Explain. 4. What else can be done to reduce the likelihood of unethical abuses?

Computing divisional income and RI and ROI

Eastern Merchants shows the following information for its two divisions for year one. Eastern Western Revenue....................................1,200,000 3,800,000 Cost of sales................................769,500

Microelectronics Divisions and Transfer Pricing

Microelectronics is a large electronic firm with multiple divisions. The circuit board division manufactures circuit boards, which it sells externally and internally. The phone division assembles cellular phones and sells them to external customers. Both divisions are evaluated as profit centers. The firm has the policy of t

Aquatic Manufacturing Department

Acquatic Manufacturing uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department A, direct labor hours in Department B, and machine hours in Department C. In establishing the predetermined overhead rates for 2005 the

Ackert Company Estimate of Current Stock Price

The Ackert Company's last dividend was $1.55. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm's required return (rs) is 12.0%. What is the best estimate of the current stock price? a. $37.05 b. $38.16 c. $39.30 d. $40.48

Product Cost Distortion and Product Pricing

Sounds Fine, Inc. manufactures two models of stereo speakers. Cost estimates for the two models for the coming year are as follows: Basic Model Advanced Model Direct Material ................... $160 $260 Direct Labo

depreciation and capital assets

Zinc inc. is considering the acquisition of a new processing line. The processor can be purchased for $3,750,000. It will cost $165,000 to ship and $85,250 to install the processor. A recently completed feasibility study that was performed at a cost of $65,000 indicated that the processor would produce a positive NPV. Studies ha