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    Online Shopping: Inventory and Taxes

    You are shopping for office supplies and furnishings for your company, Financial Outsourcing, Inc. You may use comparative shopping web search engines. 1. Choose three physical products you would like to buy (e.g., office supplies, furniture, books). Find a website that allows you to purchase these items online. Find the p

    Sales Revenue

    A small publishing company is planning to produce a new self-help book. The company needs to spend $50,232 for one-time fixed costs such as editing, typesetting, cover design, and so on. Variable costs, including printing and marketing, are $10.25 per book. The publisher will sell the finished product to the bookstores at a whol

    Risk Analysis, Management and Assessment : Single Loss Expectancy (SLE)

    Single Loss Expectancy is a term related to Risk Management and Risk Assessment. It can be defined as the monetary value expected from the occurrence of a risk on an asset. Mathematically expressed as: Single Loss Expectancy (SLE) = Asset Value (AV) X Exposure Factor Where the Exposure Factor is represented in the impact of t

    Sales problem

    Revenue from the sale of x two-liter bottles of cola is R(x) = 0.70x + 0.001x^2 a) Determine the revenue from the sale of 1 bottle, 5 bottles, and 10 bottles. b) Determine the marginal revenue R´(x) and interpret the quantity R´(10) in your own words.

    Financial Accounting

    P12-2A Greeve Corporation had the following stockholders' equity accounts on January 1, 2006: Common Stock ($1 par) $400, 000, Paid-in Capital in Excess of Par Value $500, 000, and Retained Earnings $100, 000. In 2006, the company had the following treasury stock transactions. Mar. 1 Purchased 5, 000 shares at $7 per share. June

    Financial Accounting

    E12-10 On October 31, the stockholders' equity section of Omar Company consists of common stock $600, 000 and retained earnings $900, 000. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60, 000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will r

    Financial Accounting

    E12-7 On January 1, Armada Corporation had 95, 000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 15, 000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholder

    Journalizing Transactions: Garza Company

    Garza Co. had the following transactions during the current period. Mar. 2 Issued 5, 000 shares of $1 par value common stock to attorneys in payment of a bill for $30, 000 for services provided in helping the company to incorporate. June 12 Issued 60, 000 shares of $1 par value common stock for cash of $375, 000. July 11 Issued

    Financial Accounting

    P11-7A S. Strigel Chemical Company used effective interest method to amortize bond premium or discount. On July 1, 2006, S. Strigel Chemical Company issued $5, 000, 000 face value, 10%, 10-year bonds at $5, 679, 533. This price resulted in an 8% effective-interest rate on the bonds. Strigel uses the effective-interest method to

    Financial Accounting - Payroll Entries

    ED-3 Canseco Company has the following data for the weekly payroll ending January 31. Employee, M. Hindi, E. Benson, K.Estes Employees are paid 1 1/2 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $87,900 of gross earnings. Canseco Company is subject to 5.

    Financial Accounting - ED-1

    Betty Williams' regular hourly wage rate is $14.00, and she receives a wage of 1 1⁄2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period Betty worked 42 hours. Her gross earnings prior to the current week were $6,000. Betty is married and claims three withholding allowances. Her

    Preferred Stock and Common Stock

    Why is preferred stock referred to as "preferred"? What are some of the features that are added to preferred stock to make it more attractive to investors? Would you select preferred stock or common stock as an investment? Why?

    Integer Programming : Knapsack Problems

    Juan Hernandez, a Cuban athlete who visits the Unite States and Europe frequently, is allowed to return with a limited number of consumer items not generally available in Cuba. The items, which are carried in a duffle bag, cannot exceed a weight of 5 pounds. Once Juan is in Cuba, he sells the items at highly inflated prices.

    Financial Accounting - Adjusting Entries

    The following are selected 2006 transactions of Yosuke Corporation. Purchased a small company and recorded goodwill of $150, 000. Its useful life is indefinite. Purchased for $60, 000 a patent with an estimated useful life of 5 years and a legal life of 20 years. Prepare necessary adjusting entries at December 31 to record amort

    Financial Accounting

    Presented below are selected transactions at Thomas Company for 2006. Straight-line depreciation. See attached file for full problem description.

    Calculating Profit

    Sharon's revenue R (in dollars) on the sale of x fruitcakes is determined by the formula R= 50x - x^2. Her coast C( in dollars) for producing x fruitcakes is given by the formula C = 2x + 40. For what values of x is Sharon's profit positive? ( profit = revenue - cost.)

    Financial Accounting - Computing Depreciation

    P10-3A On January 1, 2006, Solomon Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $38,500. Related expenditures included: Sales tax $2,200, shipping costs $175, insurance during shipping $75, installation and testing costs $50, and $90 of oil and

    Financial Accounting Questions

    The ledger of Elburn Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $28,000. a) If Elburn uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Elburn determines that Copp's $1

    Transportation Method: Andrew-Carter case

    Andrew-Carter, Inc. (A-C), is a major Canadian producer and distributor of outdoor lighting fixtures. Its fixture is distributed throughout North America and has been in high demand for several years. The company operates three plants that manufacture the fixture and distribute it to five distribution centers (warehouses). Duri

    Top stock fund

    The average annual return r for an investment is given by the following formula. r=(s/p)^1/n - 1, where P is the initial investment and S is the amount it is worth after n years. An investment of $ 10,000 in 1999 in the Shroeder Ultra Investors Fund was worth $20,130 in 2002. Find the 3 year average annual return.

    Financial Accounting - Identifying Internal Control Weaknesses

    P5-6A Cedar Grove Middle School wants to raise money for a new sound system for its auditorium. The primary fund-raising event is a dance at which the famous disc jockey Obnoxious Al will play classic and not-so-classic dance tunes. Roger DeMaster, the music and theater instructor, has been given the responsibility for coor

    Financial Accounting

    The trial balance of Brennan Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. BRENNAN FASHION CENTER Trial Balance November 30, 2002 Debit Credit Cash $ 28,700 Accounts Receivable 33,700 Merchandise Inventory 45,000 Store Supplies 5,50

    Financial Accounting

    P3-5A Ewok-Ackbar opened Ewok's Carpet Cleaners Inc. on March 1. During March, the following transactions were completed. Mar. 1 Issued $10,000 of common stock for $10,000 cash. 1 Purchased used truck for $6,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $1,200 on account. 5 Paid $1,

    Accounting - Internal Controls //

    The following control procedures are used at Sandwich Company for over-the-counter cash receipts For each procedure, explain the weakness in internal control, and identify the control principle that is violated. For each weakness, suggest a change in procedure that will result in good internal control. See attached file for f

    Financial Accounting - Comparison of Inventory Systems

    CHAPTER 6: EXERCISE 6.12 Comparison of Inventory Systems Sky Probe sells state-of-the-art telescopes to individuals and organizations interested in studying the solar system. At December 31 last year, the company's inventory amounted to $250,000. During the first week of January this year, the company made only one purchase

    Financial Accounting and Journalizing

    Section II On January 1, 2002, John Diego Company had Accounts Receivable $146,000, Notes Receivable of $15,000, and Allowance for Doubtful Accounts of $13,200. The note receivable is from Trudy Borke Company. It is a 4-month, 12% note dated December 31, 2001. John Diego Company prepares financial statements annually. During t

    Financial Accounting

    E4-11 On December 31, the adjusted trial balance of Garg Employment Agency shows the following selected data. Accounts Receivable $24,000 Commission Revenue $92,000 Interest Expense 7,800 Interest Payable 1,500 Analysis shows that adjusting entries were made to (1) accrue $4,200 of commission revenue and (2) ac