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Financial Accounting & Bookkeeping

Dillon company: Ratio analysis

Please complete these studies questions, based on problem P15-6 on attached Microsoft Power Point. Compute the following ratios for 2009: (e) Profit margin. (f) Asset turnover (g) Return on assets. (h) Return on common stockholders' equity.

Terry Rental Company

Please see the attached document for the chart pertaining to this question. The work sheet for the Terry Rental Company appears in the attachment. Using the adjustment data, complete the work sheet. Add any accounts that are necessary. You may use the work sheet itself or do this in Excel. Adjustment data: a. Prepaid r

Variable cost / absorption cost/ break even (true - false review questions)

Can you please help with these true and false review questions? 1. If the variable expense per unit increases and all other factors remain constant, the contribution margin ratio will increase. TRUE / FALSE 2 An increase in total fixed expenses will not affect the break-even point so long as the contribution margin ra

Evaluate effect of each transaction on accounting equation

In the financial year 2002-03, Acme Carwash recorded the following transactions. The proprietor invested $20,000 in the business. The proprietor withdrew $5,000 from the business. The proprietor bought machinery worth $6,000. Cash sales amounted to $8,000. Credit sales amounted to $6,000. Land was purchased and pai

Cost accounting for Destin Company

Please show the work in Excel, Thank you. Destin Company produces water control valves, made of brass, which they sell primarily to builders for use in commercial real estate construction.

Differentiate between general, cost, managerial, and financial accounting.

Mark, recognizing that he needs a team of astute financial experts knowledgeable in performing in-depth financial analyses, has asked you to head up this highly skilled team. Your background demonstrates extensive experience as a financial analyst in the manufacturing sector. You are knowledgeable about reengineering and process

Cost accounting #33

Please answer all 4 questions and show the work on excel. Thank you much for your help. Budgeted Amount Actual Amount Actual Cost Direct materials $4,200,000 $4,500,000 Direct labor hrs 100,000 125,000 $1,750,000 Machine setups 75,000 7

Accounting/Business Analysis/Financial Reports are examined.

Help to prepare, in general journal form, the entries required for each of the following selected transactions of Coastal University, a state-funded public institution. Some of these transactions are related and some are not. Indicate in which fund each entry is being made. 1) A generous alumnus donated $200,000 that c

Cost Accounting problems for Pitt Chemical Co, Port Company, Hill Co.

Process costs Pitt Chemical Co. manufactures & sells Goody, a product that sells for $10 per pound. The mfg process also yields 1 pound of a waste product, called Baddy, in the production of every 10 pounds of Goody. Disposal of the waste product costs $1 per pound. During March, the company manufactured 200,000 pounds of Goo

Cost Accounting Questions and 3 Cost Analysis Problems

1. Cost of goods manufactured during a period is obtained by taking the total manufacturing costs incurred during the period, adding, and subtracting the following inventories: Adding Subtracting a. Beginning finished goods inventory Ending finished goods inventory b. Beginning work in process inventory Ending fi

Financial Accounting

Prepare answers to the following attached practice problems. Financial Accounting: Tools for Business Decision Making: Chapter 2, Exercise 2-1 (page 80); 1. E2-1 The following are the major balance sheet classifications. Current assets (CA) Current liabilities

Bookkeeping for a small magazine company: Set up of Quickbooks

My friend is getting reaqdy to start a sole proprietorship of a magazine company in FL and decided to use Quickbooks for his business. He wants me to help enter in the new client information. However, I am a little uneasy with this because I don't have experience in Quickbooks. Should Quickbooks be setup first before I enter

Financial Accounting: 25 Problems

See attached file for full problems 1 of 25 Brennan's Company experienced an accounting event that was recorded in the company's general journal as indicated below: Which of the following choices accurately reflects how this event would affect Brennan's financial statements. 2 of 25 Before writing-off the uncollec

Hunt, Inc. Accounting for Sole Product and Planned Production

Hunt, Inc., uses a standard cost system when accounting for its sole product. Planned production is 60,000 process hours per month, which gives rise to the following per-unit standards: Variable overhead: 13 hours at $15 per hour Fixed overhead: 13 hours at $7 per hour During September, 5,100 units were produced and the comp

Bookkeeping for a small magazine business

Hi, A friend of mine is looking to launch a small magazine business and is wondering what kind of account she will need to handle bookkeeping services? What are the basic rules she will need to know for bookkeeping records like software, etc? Also, would single entry or double entry be best?

Cost Accounting: Breakeven Analysis for a Hospital

Scenario: Murillo Medical Institute operates a 100-bed hospital and offers a number of specialized medical services. Murillo's hospital facility and equipment are leased on a long-term basis. The hospital charges $100 per patient day. On the basis of past cost data Murillo has estimated its variable costs as $45.70 per patient d

13-4 Bor Co: relevant unit cost to make the part internally

The following standard costs pertain to a component part manufactured by Bor Company: Direct materials $ 2 Direct labor 14 Manufacturing overhead 50 Standard cost per unit $66 An outside supplier has offered to supply all of the parts needed by Bor Company for $50 each. The 50% of the manufacturing ove

Financial Accounting Matching

See attached document Listed below are several information characteristics, accounting principles, constraints, and assumptions. Match the letter of each with the appropriate phrase that states its application. (Items a through L may be used more than once or not at all.) a. Economic entity assumption

GMD Corporation's Flexible Budget

GMD Corporation's flexible budget performance report for last month shows that actual indirect materials cost, a variable overhead cost, was $28,194 and that the variance for indirect materials cost was $1,887 unfavorable. During that month, the company worked 11,100 machine-hours. Budgeted activity for the month had been 11,200

Taxation: R & R Partnership, classify expenses, deduction in first year

On July 1 of the current year, the R & R Partnership was formed to operate a bed and breakfast inn. The parnership paid $300 in legal fees for drafting the parnership agreement and $5000 for accounting fees related to organizing the entity. It also paid $10,000 in syndication costs to locate and secure investments from limited

Truck or Rail: Holding Costs vs. Shipping Cost

A shipment of parts valued at $75,000 needs to be shipped from Georgia to Alabama. They could be shipped by rail taking 15 days at a cost of $1575 or by truck taking 4 days at a cost of $2640. The annual holding cost rate for this type of item has been estimated at 22%. What option(s) is (are) more economical? There are more tha

Accounting

Pls provide solutions to problem questions. thanks E14.4 Osage inc., has actual sales for June and July and forecast sales for august, September, October and November as follows: Actual June 4,150 units July 4,350 units Forecasted August 4,200 units Septem

Accounting Concepts Used by Non-profit Organizations

I need help getting started with a response to this question: Do you think some Non profit organizations are unable to process the elements of risk and cost benefit analysis of controls because they are Non profit organizations?

Accounting

Maya Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 10,000 units and of Product B is 4,000 units. There are three activity cost pools, with estimated total cost and expected activity as follows: Estimated Expected

Financial Reporting

When reviewing a financial report, why should information be reliable, relevant, consistent, and comparable? o In other words, why are these accounting characteristics important? o What kinds of problems could be created if a financial report is not reliable, relevant, consistent, or comparable?