On July 1, B.Good borrowed $2000 from G. Whiz and agreed to pay the debt plus 8% simple interest in 270 days. Thirty days after borrowing the money, B. Good settled the debt by having it discounted at a simple interest rate of 7%. How much did G. Whiz recieve?
A farmer grows two crops, corn and soybeans. Suppose that each acre planted with corn requires 1 man day of labor, $3 investment and yields a profit of $35 at harvest. Each acre of soybeans on the other hand requires 2 man days of labor,$1 investment and returns a profit of $20 at harvest. The farmer had a total of 70 acres avai
1.The gross profit on the sale of a pair of shoes is 39%,if expenses are 25% of the selling price and the cost price is $17.95, what is the selling price and the gross profit in dollars? 2.If expenses are $175.00 and profit is $120.00 and the selling price in$495.00, what is the cost and what percentage is the profit an
What is the probability of rolling the number 4 (on one die) and the number 3 (on the other die) with a normal pair of dice if you roll the dice 100 times?
Solve for x,y,z in: 3x-y-z= -1/2 2x+y+4z=0 4x+3y+5z=6
Please see attached.
Please see the attached file for full problem description. 100. Which of the following is not a significant date with respect to dividends? a. The declaration date b. The incorporation date c. The record date d. The payment date 101. On the dividend record date, a. a dividend becomes a current obligation. b. no entry i
Please see the attached file for full problem description.
Please see the attached file for full problem description.
Presented below are two independent situations. 1. Roscoe Cosmetics acquired 10% of the 200,000 shares of common stock of Ling Fashion at a total cost of $13 per share on March 18, 2002. On June 30, Ling declared and paid a $75,000 dividend. On December 31, Ling reported net income of $122,000 for the year. At December 31, t
E3-7 Art Wyatt Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, the accountant made the following entries for the corpo
E3-4 On January 1, 2002, the stockholders' equity section of Ted Parge Corporation shows: common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 50,000 shares for cash at
Which ratios should be used to help answer the following questions? (a) How efficient is a company in using its assets to produce sales? (b) How near to sale is the inventory on hand? (c) How many dollars of net income were earned for each dollar invested by the owners? (d) How able is a company to meet interest charges a
What is a ratio? What are the different ways of expressing the relationship of two amounts? What information does a ratio provide?
What ratios do mortgage companies use in determining the qualifications of home buyers?
I supplied my objective function and constraints and I am obviously off. I don't understand why it is selling in month one rather than month three. Please point out the correct objective function and constraints.
Please highlight the correct answer 51. The relationship between current liabilities and current assets is a. useful in determining income. b. useful in evaluating a company's liquidity. c. called the matching principle. d. useful in determining the amount of a company's long-term debt. 52. Most companies pay current liabi
BE2-25 Smolinski Company is considering an investment which will return a lump sum of $500,000 five years from now. What amount should Smolinski Company pay for this investment to earn a 15% return?
Gordon Company issued $1,000,000, 10-year bonds and agreed to make annual sinking fund deposits of $80,000. The deposits are made at the end of each year into an account paying 5% annual interest. What amount will be in the sinking fund at the end of 10 years?
The board of directors is considering a stock split or a stock dividend. They understand that total stockholders' equity will remain the same under either action. However, they are not sure of the different effects of the two types of actions on other aspects of stockholders' equity. Explain the differences to the directors.
2. (a) Your friend Dick Wasson cannot understand how the characteristic of corporation management is both an advantage and a disadvantage. Clarify this problem for Dick. (b) Identify and explain two other disadvantages of a corporation. statements?
5. What is the process for incorporating?
E1-2 The ledger of Salizar Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $40,000. Instructions Using Microsoft Excel (a) If Allowance for Doubtful Accounts has a credit balance of $2,500 in the trial balance, journalize the adjusting entry at Dec
Instructions: Match the cash expenditures given below with the appropriate accounting treatment. An individual classification may be used more than once, or not at all. Treatments A. Record the expenditure as an asset and depreciate it. B. Record the expenditure as an asset and amortize it. C. Record the expenditure as an as
Section One: P1-6B P1-6B On January 1, 2002, Case Western Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $4,700. Case Western Company prepares financial statements annually. During the year the following selected transactions occurred. Jan 5 Sold 7,000 of merchandise to Garth Brooks Comp
P1-8B In recent years, Letterman Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods were selected. Information concerning the machines is summarized below. (see chart in attac
E1-23 Hootie and the Blow Fish, Inc., organized in 2002, has the following transactions related to intangible assets. 1/2/02 Purchased patent (7-year life) $490,000 4/1/02 Goodwill purchased (indefinite life) 360,000 7/1/02 10-year franchise; expiration date 7/1/2012 420,000 9/1/02 Research and development costs 185,000