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Accounting

Generate a Sample from a Random Number Table

See attached file. The management of AAAA Company has observed that the company's cash outflows have been increasing much more rapidly than its inflows. Management cannot understand the change; from its perspective, it has been "business as usual." Management has asked you, a fraud expert, to help them understand what is goin

types of costs

Classify each of the following costs incurred in manufacturing bicycles as variable (V), fixed (F), or mixed (M) cost (using number of units produced as the activity measure). Also indicate whether the cost is direct material (DM), direct labor (DL), or overhead (OH). Wayside Machine Tool Company purchased a $600,000 welding

Environmental Green Accounting at Apple Corps Ltd.

Strategic Management Accounting Goal: detailed analysis on Environmental Green Accounting development in accounting information and strategy. Selected: Apple Corps Ltd. 1) Please introduce Apple, highlights its definition of Green Accounting, and presents a chronology of key events in its development of its Green Accoun

types of fraud

In each of the following examples, I need assistance identify whether it is an employee embezzlement, management fraud, investment scam, vendor fraud, customer fraud, or miscellaneous fraud. Marcus bought a $70 basketball for only $30, simply by exchanging the price tags before purchasing the ball. Craig lost $500 by inve

Cal Smith Jr. is the night manager at a local doughnut shop that is doing very well. The shop sells doughnuts 7 days a week, 24 hours a day. Cal runs the graveyard shift by himself, since none of the other employees want to work at night. Since opening six months ago, Cal has not been able to find anyone to work for him and therefore has never missed one day of work. Cal makes his deposit every morning before going home. Cal feels that he is overworked and underpaid. The franchise owner, Kenny Jones, has praised Cal for his hard work and dedication to the company. Kenny's only concern is that, once or twice a week, an entire batch of traditional glazed doughnuts has been thrown away because of over-baking. Despite these problems, Cal maintains a clean work environment and is considered a valuable employee. Recently, Cal has yelled at people on shifts before and after him for seemingly insignificant reasons. He was hired as manager because he gets along with everyone and is usually easygoing. His recent irritability could stem from the fact that business is slowing down and he does not have much interaction with anyone at night. He also has been complaining that he has not been getting very much sleep. One day, Cal came to work in a new BMW M3, the car of his dreams. Cal said that his dad helped him buy the car. 1. What areas of the business are most at risk for fraud? 2. Identify any symptoms of fraud that appear to exist at the doughnut shop. 3. What steps could be taken to reduce opportunities for fraud?

Cal Smith Jr. is the night manager at a local doughnut shop that is doing very well. The shop sells doughnuts 7 days a week, 24 hours a day. Cal runs the graveyard shift by himself, since none of the other employees want to work at night. Since opening six months ago, Cal has not been able to find anyone to work for him and the

Confused on MC Questions - Must know the material.

Some questions I am confused on. Please explain? I have some notes underneath some. 1) On January 1, 2011, Nana Company paid $100,000 for 8,600 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $56,000 for the year end

Accounting Operating Expenses Net Income

PROBLEM I FIRST, INC. HAS THE FOLLOWING ACCOUNT BALANCES AT THE END OF MARCH, 2001 ADMINISTRATIVE EXPENSES $ 53,000 DIRECT LABOR 56,000 DIRECT MATERIAL BEG. INV. 12,000 DIRECT MATERIAL END. INV. 10,000 DIRECT MATERIAL PURCHASES 55,000 FINISHED GOODS BEG. INV. 36,000 FINISHED GOODS END. INV

proprietary theory

Why would a firm want to operate under the proprietary theory? What are the advantages? the proprietary theory: It is particularly applicable to a sole proprietorship - couldn't it be argued that all businesses are operated under the proprietary theory? shouldn't all members of management be looking out for themselves and to

Enterprises Manufacturing New Products

E5-2 (b-d) Kozy Enterprises is considering manufacturing a new product. It projects the cost of direct materials and rent for a range of output as shown below. Output in Units Rent Expense Direct Materials 1,000 $5,000 $4,000 2,000 5,000 6,000 3,000 5,000 7,800 4,000 7,000 8,000

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 $