Accountants understand their jobs very well. Programmers also understand their jobs. Unfortunately, accountants are rarely programmers and programmers are rarely accountants. Although an accountant does not need to program, the accountant must be able to communicate his requirement to the programmer, an individual who may not un
Ranch Corporation sells five acres of land in 2009 for a total contract price of $125,000. The company received a down payment of $25,000 and is to receive $20,000 in each of the following five years. Ranch's gross profit from the sale is $80,000. Part A: What are the tax consequences if: Ranch reports its gain on the install
The Tango Co. is an accrual-method, calendar-year taxpayer in the business of giving dance lessons. On November 1, 2009, Tango received an advanced payment of $4,800 for a two-year contract to provide up to 96 dance lessons ($50 per lesson). Tango provided eight lessons in 2009, 48 lessons in 2010 and 40 lessons in 2011. In its
Evaluate a business that has not implemented a sustainability plan or is currently working toward one. Must determine what initiatives the company has implemented, what driving forces initiated the transformation, and what the benefits have been or might be if the company has not started the plan. The assignment will help me gai
Explain how 'rules-based' accounting standards differ from 'principles-based' standards. How might fundamentally changing accounting standards from bright-line rules to principle-based standards help prevent another Enron-like fiasco in the future? Are there dangers in removing bright-line rules? What difficulties might be asso
Lyan needs the custom-designed equipment to increase its bottle-making capacity so that it will not have to buy bottles from an outsider supplier. Lyan company Requires 5,000,000 bottles annually. Its prsent equipment has a maximum capacity of 4,500,000 bottles with a directly traceable cash outlay cost of 18 cents
The accounting principles are presented differently between Finkler & Ward and Cleverly & Cameron. Pick one principle in Finkler and Ward and compare it to Cleverly & Cameron. The paper for this week should use the principles presented by Finkler & Ward. Pick one of these principles that has not been selected as much by your
Review Problem 2 (CH.7) Menominee Corporation, whose books were kept on the accrual method, showed the following cash receipts and disbursements for 2010: Receipts: Cash sales $245,862 Collection of receivables
Explain the traditional approaches used to evaluate an organization's productivity. What are some of the special considerations for a healthcare organization and how are traditional approaches modified to overcome these?
Refer to the Lopez Plastics Company example on pages 152-155 and to Exhibit 4-7. The following list gives various resources used by Lopez Plastics Company. Use the letters D, I, and U to indicate how the cost of each resource cost would be classified; D = direct, I = indirect, and U = unallocated. 1. Salary of plant manager
Classify each of the following as direct or indirect with respect to traceability to product and as variable or fixed with respect to whether the costs fluctuate in total as volume of production changes over wide ranges. Explain your classifications. 1. The wages of machine operators who work on only one product. 2. The cost
Firm B produce gadgets. The price of gadgets is $2 each. Firm B has total fixed costs of $300,000 and variable costs of $1.40 per gadget. The corporate tax rate is 40%. What is the breakeven number of gadgets B must sell to make a zero after tax profit?
Southeastern Specialty, Inc. (SSI)â?"Financial Risk State of the Economy Probability 1-Year T-Bill Project A Project B S&P Fund Equity in SSI Poor 0.10 7.0% -8.0% 18.0% -15.0% 0.0% Below Average 0.20 7.0% 2.0%
Problem 1 New Hope Managed Care Inc., is a for-profit managed care company that serves the southwest United States. Last year, it reported $1,200,000 in income from operations, $250,000 in interest income from bonds it bought in the previous year, and $60,000 in dividend income from shares in a large drug company. New Hope al
Tom is establishing some basic plans for his business. He is in the process of writing down some basic questions that he believes the plans should answer. Which of the following questions does not relate to establishing a functional plan? A. What skills do they need? B. When will it be accomplished? C. Where do I want my
Can you please assist me in 700 to 1,00 words with the following study question: Identifying Sustainability Plan Effect Princeton University has hired you as a consultant to help put a sustainability plan into effect that focuses on greenhouse gas. â?¢ Resource: http://www.princeton.edu/main/about/ â?¢ identifying po
The emphases of financial accounting and management accounting differ. Explain.
1. Taylor Tamblyn is a partner in three partnerships. Earlier in the year, Taylor received her Schedule K-Is from her partnerships and discovered that she had been allocated amounts under Code sec.179 of $100,000, $104,000 and $72,000 respectively. Taylor is familiar with Code sec.179 and knows that she will not be able to deduc
I need help answering the following questions Question 1 How many capital projects funds does the government maintain? How can you tell? Are any of these major funds? If so, for what purposes are they maintained? Question 2 How many debt service funds does the government maintain? How can you t
1. A hospital has been consistently performing below its peer group as far as total margin. What are some of the reasons behind that and what corrective action can management take to ensure performance within industry norms? 2. Two investment projects which are mutually exclusive both require a 10,000,000 investment. Projecte
Marner Mfg. Ltd is looking at modifying one of their key products that currently sells for $255 each and has total costs of $204 each. Sales of this product have begun to decline and Marner needs to do something to boost sales and continue to compete effectively in the market. There are four (4) possible modifications that may b
What are your thoughts about working for a: small company? Medium size company? Large company (SEC) regulated business you own and run? Privately owned company? Public company? Government Organization? Non-profit Organization?
It is my belief that pharmaceutical companies are not justified in charging such high prices for certain medications. There should be a form of leniency in a pharmaceutical companies pricing strategy. Consequently, these companies are taking advantage of the general population that requires medications due to adverse circumstances. Many patients are barely making ends meet and are forced with the decision of what is more important "food" or "prescription drugs?" It appears that in today's society, good health has been issued a very expensive price tag. I often witness patients with severe medical conditions, needing a plethora of medications, and are unable to purchase those medications due to the astronomical charges associated with purchasing the medicines they need. Prescription drug costs tend to vary according to the prescription drug coverage applied or lack thereof, prices ranging from $50-$150 with insurance and $200-$500 without insurance. Should patients suffer the consequences of the pharmaceutical companies integrated high-overhead cost? Or should patients' preventative measures of survival be predicated upon their ability to pay for a corporate executives' salary? Nevertheless a patient's journey of survival is continuous.
Pharmaceutical companies' social responsibilities that may differ from other companies include assisting the public with medicinal needs. These organizations have an obligation to improve medical conditions by introducing new medication to patients globally; build awareness of disease prevention, diagnosis, treatments available
Cost of goods sold for Snowmass Construction Company during 20X1 was $410,000. Beginning inventory was $95,000 and ending inventory was $120,000. Beginning trade accounts payable were $24,000, and ending trade accounts payable were $51,000. What amount of cash did Snowmass pay to suppliers?
Bair Company is a manufacturer of standard and custom-designed bottling equipment. Early in December 20x0 Lyan Company asked Bair to quote a price for a custom-designed bottling machine to be delivered in April. Lyan intends to make a decision on the purchase of such a machine by January 1, so Bair would have the entire first qu
Computation of taxable income. The records for Bosch Co. show this data for 2011: - Gross profit on installment sales recorded on the books was $360,000. Gross profit from collections of installment receivables was $270,000. - Life insurance on officers was $3,800. - Machinery was acquired in January for $300,000. Straig
See attached file. Motorola and Intel are both in the semiconductor industry and compete in many of the same product sectors. But each uses a different depreciation method. Motorola's Year 2 10-K states the following: Depreciation is recorded principally using the declining -balance method based on the estimated useful liv
19. A company's fabricating department reports the below operating data for this month. What are the equivalent units of production for this month? beginning inventory............... 0 Ending inventory (10% complete............. 10,000 units Units started & Completed...................... 100,000 units a. 100,000 b. 101
Q1. Review (ch.10) After an investigation by the IRS, the following facts were discovered from the books and records of the Shady Tree Nursery, which began business on January 1, 2008. 2008 2009 2010 2011 Gross profit on sales
Please see the attached file. 1. Han Products manufactures 30,000 units of part S-6 each year for use on its production line. At this level of activity, the cost per unit for part S-6 is as follows: Direct materials $ 3.60 Direct labor 10.00 Variable manufacturing overhead 2.40 Fixed manufacturing overhead 9.00