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Research two career paths you might consider as a profession within the accounting industry. Describe the education, professional development, license or certification, and experience requirements for the chosen path. Why would this be a suitable or unsuitable pursuit for your future?

Research two career paths you might consider as a profession within the accounting industry. Describe the education, professional development, license or certification, and experience requirements for the chosen path. Why would this be a suitable or unsuitable pursuit for your future?

Companies Activity Based Costing to Compute Costs

Question 1) A Company uses activity-based costing to compute the costs of her catered parties. Each party is limited to 20 guests and requires four people to serve and clean up. The company offers two types of parties,an afternoon picnic and an evening formal dinner. The break-down of the costs f

The Book Value and Taxes on Sale of Machine

Troy Industries purchased a new machine 3 years ago for $80,000. It is being depreciated under MACRS with a 5-years recovery period using the percentage given in Table 3.2 on page 100. Assume 40% ordinary and capital gains tax rates. a. What is the book value of the machine? b. Calculate the firm's tax liability if it sold

Business Tax Return and Training Materials for New Hires

See attached files. You and your colleagues at the firm have been asked to develop training materials for new hires on the preparation of tax returns for the corporation, using the tax return for your client company name, Peacock Tree Incorporated, as an example. To access Peacock Tree Incorporated information, and to comp

Calculate income from operations and net income - Fordstar Company

Can you help me get started on this assignment? Calculate income from operations and net income. Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2010 follows: Net cash provided by operations $98,000 Cost of goods sold

Budgeting Amounts for Lovitz Company

Lovitz Company is planning to produce 2,400 units of product in 2008. Each unit requires 4 pounds of materials at $8 per pound and a half hour of labor at $17 per hour. The overhead rate is 70% of direct labor. Compute the budgeted amounts for 2008 for direct materials to be used, direct labor, and applied overhead.

Lot-for-lot, economic order quantity, and least total cost

Please help with the following accounting problem: An item has a setup cost of $100 and a weekly holding cost of $0.50 per unit. Given the following net requirements, what should the lot sizes be using lot-for-lot (L4L), economic order quantity (EOQ) and least total cost (LTC)? Also, what is the total cost associated with eac

Unrecorded payables

The auditor may perform analytical procedures related to the completeness of purchases and payables. An example would involve a comparison of purchases to the underlying physical business such as a comparison purchases to production levels. In addition, the auditor should be alert for a current ratio that looks too good. De

Tyco I'm Sure It's a Really Nice Shower Curtain - Sales Tax Evasion Case

See case here: https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=9&ved=0CHQQFjAI&url=http%3A%2F%2Fcdn.transtutors.com%2FUploadAssignments%2F280706_2_Tyco--I-m-Sure-That-It-s-a-Really-Nice-Shower-Curtain-389-402p.pdf&ei=xrHYUcnVB_jG4AOHxYDYDg&usg=AFQjCNF2cmuv8iuoiLBY_RmIX8Kqr2iV6A&sig2=WyPvBBJElHyL0XCSaGhPKA Case St

Differences in reporting for-profit and not-for-profit

What differences exist in reporting guidance in a for-profit and not-for-profit organization? What similarities exist in reporting guidance in a for-profit and not-for-profit organization? How are comparability of financial reports affected by these differences and similarities? Should these reports be comparable? Explain your r

Fixed Assets capitalisation-Yukio mishima, Adam,Richardson

* Yukio Mishima Industries acquired equipment this year to be used in its operations. The equipment was delivered by the suppliers, installed by Mishima, and placed into operation. Some of it was purchased for cash with discounts available for prompt payment. Some of it was purchased under long-term payment plans for which the i

Installment Sales Method and Cost Recovery Method

(Installment-Sales Method and Cost Recovery) Kenny Corp., a capital goods manufacturing business that started on January 4, 2007, and operates on a calendar-year basis, uses the installment-sales method of profit recognition in accounting for all its sales. The following data were taken from the 2007 and 2008 records.

Jay Manufacturing - Fixed Assets Case

Jay Manufacturing, Inc. began operations five years ago producing probos, a new type of instrument it hoped to sell to doctors, dentists, and hospitals. The demand for probos far exceeded initial expectations, and the company was unable to produce enough probos to meet that demand. The company was manufacturing probos on equipme

Cost accounting

1)The following transactions occurred in October at Pawnee Workshops, a custom manufacturer of furniture: 1. Purchased $16,000 of materials. 2. Issued $800 of supplies from materials inventory. 3. Purchased $11,200 of materials. 4. Paid for materials purchased in transaction (1) 5. Issued $13,000 in direct materials to the

Should we judge managers based on budgeted performance or past performance? Why?

Which s a better criterion for judging managers, budgeted performance or past performance? Why? Production managers and marketing managers historically mix like oil and water. Discuss how a budget can assist in reducing battles between these two areas (production and marketing). What specific considerations arise when bu

Eleven Accounting Questions

1. For the year ended December 31, 2010, Kurz Co. estimated its allowance for doubtful accounts using the year-end aging of accounts receivable. The following data are available: Allowance for doubtful accounts, 1/1/10 $37,000 Estimated uncollectible accounts during 2010 (1% on credit sales of $4,000,000) 40,000

Tax for Jane: pay down mortgage, sell jewelry, depreciate vehicle

I think that the fees would be better used for paying off our house and buying a new, bigger house that I've had my eye on. Does it make better tax sense for us to pay off the mortgage, sell the house, and buy a new house, or should we just use the money to buy the new house after selling the old house? Also, I sell handcraft

Milano Corporation: Calculate missing amounts and performace in each division

Milano Corporation has three operating divisions and requires a 12% rreturn on all investments. Selected information is presented here: a. Calculate the missing amounts for each division. b. Comment on the relative performance of each division. c. Provide an example to show how residual income improves decision making at

Tax Issues for Jane Smith - Mortgages and Income

Jane Smith I think that the fees would be better used for paying off our house and buying a new, bigger house that I've had my eye on. Does it make better tax sense for us to pay off the mortgage, sell the house, and buy a new house, or should we just use the money to buy the new house after selling the old house? Also, I se

Benefits of an Interest Tax Shield

With its current leverage, Impi Corporation will have net income next year of $4.5 million. If Impi's corporate tax rate is 35% and it pays 8% interest on its debt, how much addtional debt can Impi issue this year and still receive the benefit of the interest tax shield next year?

changes to net income and free cash flow

Grommit Engineering expects to have net income next year of $20.75 million and free cash flow of $22.15 million. Grommit's marginal corporate tax is 35%. a) If Grommit increases leverage so that its interest expense rises by $1 million, how will its net income change? b) For the same increase in interest expense, how will