Please explain how you develop paragraphs and what the norm for the length of paragraphs is. a. Topic sentence b. Supporting sentence c. Concluding sentence.
See attached file for data and tables. 01. Which of the following statements is true with regard to product costs versus general, selling, and administrative costs? A) Product costs associated with unsold units appear on the income statement as general expenses. B) General, selling, and administrative costs appear on t
See attached file for data and tables. 1. Lazlo's Company provides the following standard cost data for one of its products: The fixed overhead spending variance is A. $2,500 unfavorable. B. $500 unfavorable. C. $2,500 favorable. D. $2,000 unfavorable. 2. The Rising Company provides the following standard cost i
1. The Old Van Rental Company has 6 vans available for rent late on Wednesday night when the office gets a call from a small group of tourists wishing to rent 3 vans for the next day (one day rental). The daily rate that the rental company charges is $40 per van. However, the group is willing to pay just $30 per van. The compan
1. (TCO 1) How are deferred tax assets arising from net operating loss carryforwards classified under SFAS 109? 2. (TC0 2/3) What is different about the expected postretirement benefit obligation and the accumulated postretirement benefit obligation? 3. (TCO 4) What is comprehensive income and how does it differ from net
Gains or losses from the early extinguishment of debt that is refunded can theoretically be accounted for in three ways: 1. Amortized over the life of old debt. 2. Amortized over the life of the new debt issue. 3. Recognized in the period of extinguishment. Discuss the supporting arguments for each of the three theo
Marshall, Inc., produces three products but weekly demand for the three products exceed the available amount of machine time. Following is information about each product: A B C Contribution margin per unit $300
Create journal and ledger entries. Use the reference numbers provided in your entries to cross-reference 13% HST applies. 1. On December 1, 2010 you start up a new paralegal practice by opening a general practice bank account and a trust bank account at your local bank. You deposit $25,000 of your own money in the general ban
1) Problem 3-13 / Conversion Costs Hartwell Drug Company produces a supplement to improve bone density. Conversion costs and added evenly throughout the production process. The following information is available for March:
What is the annual amount that a donor can give to a recipient each year and not have to file a gift tax return? If the donor gives more than this amount, is the donor required to pay a gift tax? Recommend a tax strategy, other than giving only the annual exclusion amount, to minimize the gift tax.
Are gifts subject to an income tax? Why or why not? What constitutes a gift?
5. How should governments report permanent fund and fiduciary fund balances and income in their government-wide statements? Explain. 10. How should an employer determine its annual pension cost? What minimum GASB criteria must it satisfy? response is 473 words
What are the three classifications of net assets established by FASB Statement 117? How are these net assets affected by the existence or absence of donor-imposed restrictions? How are releases of these net assets accomplished? response is 401 words
Consider the following information that you propose to use to obtain an estimate of year 2004 EPS for the MacLog Company: Year 2003 Estimated yr 2004 GDP 11,000 billion GDP growth
Mott Manufacturing allocates factory overhead using one cost pool with direct labor hours as the allocation base.Mott has two production departments, P1 and P2.The new accountant at Mott estimates that next year, the total factory overhead costs will be $5,000,000, and approximately 500,000 direct labor hours will be worked.The
Maverick Corp. Balance sheet at December 31 2008 2007 2008 2007 Cash $64,000 $58,000 Accounts payable $44,000 $41,000 Accounts receivable $46,000 $48,000 Wages payable $19,000 $13,000 Inventory $56,000 $59,000 Taxes payable $15,000 $10,000 Property, Plant & Equipment $265,000 $183,000 Long-term debt $150,
14.16 Zero-balance account Union Company is considering establishment of a zerobalance account. The firm currently maintains an average balance of $420,000 in its disbursement account. As compensation to the bank for maintaining the zerobalance account, the firm will have to pay a monthly fee of $1,000 and maintain a $300,000
What is one contingency that would concern an auditor and how would the auditor become aware of this contingency?
Problem 6 - 5A Internal Control Abbott Inc. is expanding and needs to hire more personnel in the accounting office. Barbara Barker, the chief accounting clerk, knew that her cousin Cheryl was looking for a job. Barbara and Cheryl are also roommates. Barbara offered Cheryl a job as her assistant. Barbara will be responsible for
Colt Inc. has two types of handbags, standard and custom. The controller has decided to use a plantwide overhead rate (DL costs). The president wants to see what activity-based costing results might be. Estimated overhead costs are $270,000. Machine pool is $170,000 and Setup pool is $100,000. Compute overhead rates under b
What is the rationale that would lead to a desire to speed production in the face of increasing costs and declining productivity?
During the late 1970s, Harley-Davidson, the motorcycle manufacturer, was losing money and was very close to bankruptcy. Management believed that one of the problems was low productivity and as a result, asked middle managers to speed up the production. The employees who made the motorcycles were told that the priority was to g
Rust Inc. manufactures a variety of desks for retail sale. The desks are normally distributed through several wholesalers. Energen Inc., a mid-size retailer, has offered to purchase 60,000 custom desks over the next three months, to be sold under the retailer's house brand. Energen offers to pay $190/unit, which is much less
Purposes of national income accounting and the components of GDP in the output (expenditures) approach and in the income approach. Also, the economic costs of unemployment.
1) State the purposes of national income accounting. List the components of GDP in the output (expenditures) approach and in the income approach. 2) Identify the economic costs of unemployment and the groups that bear unusually heavy unemployment burdens. Response is 1,108 words
Unless otherwise indicated, each of the following parts is independent. In all cases, show computations to support your answer. A. Andrews Home Center has two departments, Bath and Kitchen. The most recent income statement for the company follows: Department Total Bath Kitchen
Four (4) tax questions: S Corporation vs C Corporation, sale of company, s-election, operating loss carry forward and stock options.
Tax questions 1. Joe has received an offer to sell his company to Microsoft Inc. for $40 million. The selling price will consist of 20% cash and the balance in Microsoft stock. Joe asks your advice on the different tax structure possibilities for the sale of the company and your recommendation for which method he should consi
The following information relates to Jorgensen Manufacturing for calendar year 2011, the company's first year of operation: Units produced 8,000 Units sold 7,000 Selling price per unit $ 4,500 Direct material per unit $ 2,000 Direct labor per unit $ 1,200 Variable manufacturing overhead per unit $ 900 Variable selling
Campus Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have been gathered: Copy Machine Month Repair Expense Copies Made May $ 8,500 300,000 June 12,500 500,000 July 20,500 900,000 August 16,500 700,000 September 10,500
What is a flow-through entity? What advantages do flow-through entities have over a regular corporation? Compare and contrast the tax characteristics of an S corporation and a partnership. 860 words
46. Elaine exchanges a van that is used exclusively for business purposes for another van that also is used exclusively for business. The adjusted basis for the old van is $18,000 and its FMV is $14,500. a. Calculate Elaines recognized gain or loss on the exchange. b. Calculate Elaine's basis for the va
1. Hagar, Inc. is a retail chain with 125 stores organized into 5 regions. The most recent annual income statement for the Snert, ND store is given below (in $000). It is typical of recent years, and Hagar is considering closing the store because of chronic losses. What factors should Hagar consider in making the decision?