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Accounting Terminology

Explain the accounting issues and methods for the following: 1. cash, inventory, and accounts receivable. Include a discussion for how inventory costing assumptions influence the resulting accounting numbers. 2. buildings and equipment. Include a discussion for how the depreciation schedule chosen influences the resulti

Basic Accounting Problem: Horizontal Analysis

See attached file for clarity. Following is a comparative balance sheet for WorldView International Corporation: WorldView International Corporation Balance Sheet December 31, 2008 and 2007 2008 2007 Current assets Cash $ 10,000 $ 5,000 Short-

Accounting 4 - cost accounting

Explain why the answer is chosen: 13. The three sections of a statement of cost of goods manufactured include: a.variable expenses, contribution margin, fixed expenses. b. direct costs, indirect costs, operating profit. c. sales revenue, gross profit, selling and administrative expenses. d, raw material, direct la

Divergence in margins

National cereal manufacturers receive high margins for many of their cereals, often ranging from 60-75 percent. By contrast, the large retail grocery chains (Kroger, Safeway, etc.) that sell cereal make much smaller margins. What would explain this divergence in margins?

collecting accounting evidence

Which procedures for collecting accounting evidence have you used in your career? Explain how one of these procedures was used.

Accounting practice questions

1------The following infrmation is available for Hughes Co. 2010 2009 2008 ------------------------------------------------------------------------------------------------- Net income $2,500 $1,700 $1,900 Ne

Novastar Corporation - Balances

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

Employment-Related Expenses.

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.

Accounting fraud and abuse

Explain whether or not the government has been successful in its oversight of accounting fraud and abuse.

Managerial Accounting. Cost Accounting. Product costs.

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

Fraud and Detection: skimming, Cash Larceny Schemes, Check Tampering

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

Importance of the distinction between deduction for AGI and from AGI

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?

Determining the Break Even Point and Ticket Price per Person

** 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

Compute Adjusted Gross Income (AGI) for Amir for the year in which he retired.

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


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

Manufacturing Overhead Rate and Operating Profits

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