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Detecting Accounting Gimmicks and Fraud

Please help write a brief description on the following: Select a company investigated or under investigation by the SEC for some financial impropriety. Discuss at least one issue they are being investigated for in the context of the below seven financial shenanigans. The Wall Street Journal,, and major newspapers are

Contingent liability

Vita Technologies is involved in cancer research. Vita is involved in a number of lawsuits related to their operations. For each case, indicate the disclosure that should be provided by Vita Technologies in the annual financial statement. (1) One of their drugs, Hypothiaman, resulted in dangerous side effects of which Vita wa

Possible causes for price and efficiency variances

You are a student preparing for a job interview with a Fortune 100 consumer products manufacturer. You are applying for a job in the Finance Department. This company is known for its rigorous case-based interview process. One of the students who successfully obtained a job with them upon graduation last year advised you to "kn

Accounting for Overhead Costs

The following information was compiled by Georgia Company: Expected volume of production 50,000 units Actual level of production 47,500 units Budgeted fixed overhead $400,000 Actual fixed overhead $415,000 Variable overhead rate per direct-labor hour $18 Actual variable overhead $790,

Autopitch Control Charts with Control Limits

17- 9. When set at the standard position, Autopitch can throw hard balls toward a batter at an average speed of 60 mph. Autopitch devices are made for both major-and minor- league teams to help them improve their batting averages. Autopitch executives take samples of 10 Autopitch devices at a time to monitor these devices and t

Who are the different users of accounting information?

1. Who are the different users of accounting information? 2. What are the differences between managerial and financial accounting? 3. What are the differences between the CMA and CPA certifications? 4. What is the value of the accounting function in school organization, both internally and externally? Answer this

Prepare an allocate schedule, income and investment balance

Earth-Q Corporation paid $1,680,000 for a 30 interest in Tremor Corporation's outstanding voting stock on January 1, 2006. The book values and fair values of Tremor's assets and liabilities on January 1, along with amortization data, are as follows: Book Value Fair Value Cash

The Comparative Balance Sheet of Stuart Company

12. The comparative balance sheet of Stuart Company appears below: 20pt STUART COMPANY Comparative Balance Sheet December 31, Assets 2007 2006 Current assets $ 340 $280 Plant assets 675 520 Total assets $1,015 $800 Liabilities and stockholders


Question 30 Information about Blum Company is as follows: 2009 2010 Output (units) 10,000 9,300 Input quantities: Labor (hours) 4,000 3,875 Input prices: Labor (per hour) $7 $8 What is the partial operational productivity measure for labor for 2009? 2.4 2.5


BRISCOE COMPANY Worksheet For the Month Ended June 30, 2008 Trial Balance Account Titles Dr. Cr. Cash $2,320 Accounts Receivable 2,440 Supplies 1,880 Accounts Payable

Principles of Accounting for a Retail Store

See the attached file. Schmitt, Inc., a retail store, has the following data for the year ended December 31, 200: Sales $90,000 Extraordinary Loss due o hurricane 5,000 Income Tax Tax Saving on Extraordinary Loss (1,100) Cost of Goods sold 55,

Taxable income

Most money we receive, unless it is a loan, is taxable income. There are exceptions. Can you cite one example and explain why it is not subject to income tax?

Accounting Calculations: Breakeven Points

Calculate the unknown for the following situations based on the data below. All situations are independent of each other. Total fixed costs $100,000 Unit selling price $50 Unit variable cost $30 a) Calculate the following: 1) break-even point in units 2) break-even poin

Predetermined Manufaturing Overhead Rates

A company has two Departments, X and Y. Manufacturing overhead is allocated based on direct labor cost in Department X and direct labor hours in Department Y. The following additional information is available: Estimated Amounts Department X Department Y Direct labor cost $249,6

Accounting Problem

Quicksand Company has set the following standards for one unit of product: Direct material Quantity: 6.2 pounds per unit Price per pound: $11 per pound Direct labor Quantity: 6 hours per unit Rate per hour: $23 per hour Actual costs incurred in the production of 2,800 units were as follows: Direct material: $

Current stock price

SBC Corp. just paid a dividend of $0.65 per share, and that dividend is expected to grow at a constant rate of 7.00% per year in the future. The company's beta is 0.95, the required return on the market is 10.50%, and the risk free rate is 5.00%. What is the company's current stock price?

Barnes and Nobles- Investments and Revenue Recognition

Please see attached. Thank you. Week 3- Investments & Revenue Recognition 1. On the third tab of your Excel file, report on the investments your company has and their dollar amounts. Also report the amount of interest, dividends, and gains on sale of investments that occurred in the most recent year. Be sure to include any inv

Need help z-calulator

Explain in detail how you arrived at the answers. 1.The graduate selection committee wants to select the top 10% of applicants. On a standardized test with a mean of 500 and a standard deviation of 100, what would be the cutoff score for selecting the top 10% of applicants, assuming that the standardized test is normally dis

Transactions of Operations Graham Co

Holden Graham started the Graham Co a new buisness that began operations on may 1. The graham co completed the following transactions during its first month of operations. May 1 H. Graham invested $43,000 cash in the business in exchange for common stock. 1 Rented a furnished office and paid $2,200 cash for May's rent. 3 Pu

Calculate the amount available at the end of 12 years

After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, yo

Evaluating Profit and Investment Preformance

Ricky Bobbie, the managing partner of the law firm Bobbie, Bagan, and Clark, LLP, makes asset acquisition and disposal decisions for the firm. As managing partner, he supervises the partners in charge of the firm's three branch offices. Those partners have the authority to make employee compensation decisions. The partners' comp

Corporate Quarterly Statements of Income

The unaudited quarterly statements of income issued by many corporations to their stockholders are usually prepared on the same basis as annual statements, their statement for each quarter reflecting the transactions of that quarter. Required: a. Why do problems arise in using such quarterly statements to predict the income

Transaction analysis - various accounts

Prepare an answer sheet with the following coumn headings. For each of the following trasactions or adjustments you are to indicate the effect of the transaction or adjustment on assets, liabilities and net income by entering for each account affected the account name and amount indicating wheather it is an addition or subtract

Accounting for S&R Rentals

1. S&R Rental's rents and services different types of yard-improvement equipment. Information about the company's financial performance is provided below: Average shares outstanding $15,000 Cost of goods sold $44,000 Debt outstanding

Corporation Overhead Application

XYZ Corporation uses a job-cost system and applies manufacturing overhead to products on the basis of machine hours. The company's accountant estimated that overhead and machine hours would total $800,000 and 50,000, respectively, for 20x1. Actual costs incurred follow. Direct Material Used $250,000 Direct Labor

Process Costing System and Departmental Production Report

Question 1: Forever Green Co. manufactures artificial Christmas trees. In 2004, Forever Green only produced one type of tree, the Merry Green Tree. However, in 2005 Forever Green introduced a new, top-of-the-line product, the Green as can be Tree. The two products require different materials and are manufactured in separate ba

Categorizing accounting tasks

Analyzing and interpreting information classifying economic events explaining uses, meaning, and limitations of data keeping a systematic chronological diary of events measuring events in dollars and cents preparing acconting reports reporting information in a standard format summarizing economic events accounting is a