Novastar Corporation issued 2,000 of its $1,000, 10% ten-year bonds dated July 1, Year 1 on July 1, Year 1, at a time when the market paid 9% for bonds of similar risk. Interest is payable annually. The bonds were properly carried at $2,134,000 upon issue. On its December 31, Year 1 financial statements, Novastar Corporation wou
Mike incurs the following employment-related expenses in the current year: Actual automobile expenses $ 2,500 Moving expenses (deductible under Sec. 217) 4,000 Entertainment expenses 1,500 Travel expenses (including $500 of business meals) 2,500 Professional dues and subscriptions 500 Total $11,000 Mike's AGI is $120,00
Is all evidence the same or is some more valuable than others? Explain.
Explain whether or not the government has been successful in its oversight of accounting fraud and abuse.
See attached for better formatting... In the T-account cost flow diagram of balance sheet inventory accounts and the cost of goods sold accounting Raw material purchases are debited to work in progress Cost of goods manufactured is debited to finished goods inventory Cost of goods sold is debited to finished goods inventor
Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world.
1. Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world. 2. Discuss how this course has affected you in your professional development as a student and as a person as well as encouraging you on your academic path. Respond using the critical elemen
Out of 150 multiple choice questions I am having hard time with the following 9. Chapter 1 - Introduction 1. Which of the following best describes the objective of a fraud examination? a. Make recommendations to management about how to prevent fraud. b. Determine whether financial statements are free of misstatements due
1) Why is the distinction between deductions for AGI and deductions from AGI important for individuals? 2) Al Capone's conviction in the mid 1930s has caused mobsters and illegal gangsters to rethink keeping detailed records. Why? When can you take deductions for bribes and kickbacks?
See attached. Discussion should include the following items: a. a brief description of the problem b. possible solutions (minimum of three) c. which option you prefer d. strengths and weaknesses of your selection e. conditions that would have lead to selection of each different option f. application of the k
** Please see the attached file for the properly formatted problem description ** The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event: Dinner (per person) $7 Favors and program (per person) $4 Band $1,898
Adjusted Gross Income. Amir, who is single, retired from his job this year. He received a salary of $25,000 for the portion of the year that he worked, tax-exempt interest of $3,000, and dividends from domestic corporations of $2,700. On September 1, he began receiving monthly pension payments of $1,000 and Social Security payme
Larry's Art Gallery sells oil paintings, lithographs, and bronzes to collectors and corporations. What are the tax issues with advance payments or deposits?
Customers often come to Larry looking for special pieces. In order to meet customer needs, Larry often accepts orders and then travels looking for the desired item, which he purchases and delivers to the customer. The pieces are expensive, and Larry requires customers to demonstrate their sincerity by providing deposits. If it t
As a result of their divorce, Fred agrees to pay alimony to Tammy of $20,000 per year. The payments are to cease in the event of Fred's or Tammy's death or in the event of Tammy's remarriage. In addition, Tammy is to receive their residence, which cost them $100,000 but is worth $140,000. a. Does the fact that Tammy receives
Please help with the following accounting problem. Present a proposal to benefit accounts payable in the accounting department.
What is the SEC's current view of accounting standards for publicly held companies?
Techniques, Inc. uses a predetermined manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has been collected for the previous year: Direct materials $150,000 Direct labor 200,000 Sales commissions 100,000 Indirect labor 50,000 Rent on office equi
Journalizing transactions and adjusting entry for stock investments. Also critical thinking questions about managements decision to sell investment holdings.
Also see attachments. P13-3A On December 31, 2008, Ramey Association owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee. Common Stock Shares Cost Hurst Co. 2,000 $60,00
What level of management would be involved in making capital investment decisions? Why? Why are these decisions more critical than day-to-day decisions made by individuals and companies?
Assume that the current ratio for Arch Company is 2.5, its acid-test ratio is 1.5, and its working capital is $370,000. Answer each of the following questions independently, always referring to the original information. Required: (a) How much does the firm have in current liabilities? (Round your answer to the nearest dol
See attached files. Analyzing costs reductions at Dell On May 31, 2007, Dell Inc. announced it was making several changes to the way it did business in order ". . . to restore competitiveness to the core business, re-ignite growth, and build solutions critical to customer needs." As one of the changes the company: Initiat
Problem One: Mason Company has a product that sells for $20 per unit. The variable expenses are $12 per unit, and fixed expenses total $30,000 per year. Required: (a). What is the total contribution margin at the break-even point? (b). What is the contribution margin ratio for the product? (c). If total sales increase by $
On December 15, 2011, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2012, and December 15, 20
Please help answer the following accounting question. How often should the predetermined overhead rate be reviewed by management for accuracy - monthly, quarterly or annually? Explain.
Is Jaycee's current operating environment one of excess capacity or no excess capacity? Briefly explain.
Jaycee Manufacturing, which produces electrical components, is contemplating submitting a bid for 30,000 units of item no. 54. The bid's cost will be follows: Raw materials $ 75,000 Direct labor $120,000 Manufacturing overhead $150,000 Additional Set-up costs $ 3,000 Special device $ 5,000 Allocated administrative ov
Slugger Corporation produces baseball bats for kids that It sells for $35 each. At capacity, the company can produce 60,000 bats a year.
Slugger Corporation produces baseball bats for kids that It sells for $35 each. At capacity, the company can produce 60,000 bats a year. The costs of producing and selling 60,000 bats are as follows: Cost Per Bat Total Costs Direct materials $15 $900,000 Direct manufacturing labor 4 240,000 Variable manufacturing overhead
Please help me with an assignment on processing in the food and hospitality industry by answering the given problem: Compare and contrast the advantages/disadvantages of batch data processing and real-time processing.
See attached file for clarity. St. Mark's Hospital contains 450 beds. The average occupancy rate is 78% per month. In other words, on average, 78% of the hospital's beds are occupied by patients. At this level of occupancy, the hospital's operating costs are $21.10 per occupied bed per day, assuming a 30-day month. This $21.1
Why is it important that the FASB sets standards for financial reporting? Why is it important that the financial reports are done in a way that are useful to the users?
Select and research an advertising agency. Assist in writing a page overview and evaluation of the agency. Your evaluation should be written in two sections. The first section should describe the agency's unique aspects, strengths, services, approach to marketing communications, specialties, client list, and so forth. The second
How do managers go about making segment or product line elimination decisions?