Intermediate Accounting E-3-5 Adjusting entries. It may be necessary to add one or more accounts to the trial balance. E-3-8 Adjusting entries. Prepare the adjusting entries as august 31, 2014
1. Compare typical compensation and incentive arrangements for (a) top management, for example, the CEO or CFO, and (b) plant or division managers. What are the chief differences 2. Suppose that East Corporation has issued voting and nonvoting stock. Investors hope that holders of the voting stock will use their power to vote o
1. Explain how each of the following actions or problems can distort or disrupt the capital budgeting process. a. Overoptimism by project sponsors. b. Inconsistent forecasts of industry and macroeconomic variables. c. Capital budgeting organized solely as a bottom-up process. 2. New-model commercial airplanes are much mo
CMA Canada's 2020 Vision document states, "major activities that will define the management accountant's role in 2020....include strategic risk management that identifies and responds to threats, challenges and opportunities; forward-looking financial and performance management fueled by: a. technology-enabled data analysis appl
Special Order - Short Term Decisions Consider a firm that has a capacity of 100,000 units. They cannot change this capacity in the short run. A potential customer has requested a special order of 10,000 units (one-time order) at a price of $24 each. There is no sales commission on this order since a sales rep was not invol
If you were an investor with a bunch of money, would you invest in Wal-Mart? How do you think it will be doing in the future? Why?
Investors go to great lengths so that they can predict the future of a stock and also analyze the present performance. Sometimes they end up making just what someone else would make that came in and said "I have a feeling about this company". If we could truly predict stock price, that would change the whole nature of the mark
When a firm uses cost of capital to evaluate all projects, it would overestimate the value of high risk projects. The cost of capital is usually an estimate of return for average-risk projects. When evaluating high risk projects, firm should discount the project cash flows with a higher cost of capital. An example is Microsoft a
1. Find a low-risk stock - Walmart or Kellogg would be a good candidate but any are welcome. Use monthly returns for the most recent three years to confirm that the beta is less than 1.0. Now estimate the annual standard deviation for the stock and the S&P index, and the correlation between the returns on the stock and the i
I need help with a self-review study questions. This is the text we are using. Thomas P. Edmonds, Bor-Yi Tsay, and Phillip R. Olds., Fundamental Managerial Accounting Concepts, 6th ed., McGraw-Hill Erwin (2011). The CFO of Advo Corporation is considering two investment opportunities. The self-study review problems on
The mixing department is the third department in MZS Inc. factory. During January, there were 4,000 units of beginning inventory in the mixing department, and 60,000 units were transferred in from the prior process. There were 8,000 units in ending inventory. The transferred in cost in the beginning inventory was $170,000, and $
Please show your steps so I know where I am making my mistakes. See attached file.
I am having problems understanding how to complete break even analysis with the attached problem. I can't understand how to build or answer the questions of the assignment. Can you help?
Review financial statements for two years for Apple and Microsoft. Make a comparison of the following items and note trends. - Revenues - Cost of good sold - Accounts receivable - Accounts payable - Inventory Discuss and interpret the changes over the two-year period. Which company is the best performer and why? How is t
Record the following simple transactions in the Debt Service Fund of Ledford County. 1. The county issued $50,000,000 of refunding bonds at par to provide most of the financing to refund $60,000,000 of outstanding bonds. 2. The county transferred $5,000,000 from the General Fund to the fund from which the outstanding bonds ar
1. Balanced Scorecard Balanced scorecard is one of those management fads that will disappear several years in the future. In addition, managerial accounting should be about the numbers and not subjective criteria. Please support or refute the above statements. 2. Allocation of Costs, or Not Information technology costs are
All solutions must be in Excel Format; please show how solutions were derived. Please see attached.
1. How does the accounting write-off of design and development costs as current expenses affect managers' incentives to incur these costs? 2. Explain the importance of separation of duties to a system of internal controls. 3. Explain inventory overstatement. A merchandising company has asked you to advise it on how to de
Multinational corporations can use transfer pricing to adjust costs in transactions involving the transactions between divisions in different countries. There may be a tax consequence. Is this ethical ? Is this good business?
Rossi /Company has the following projected account balances for June 30, 20x9. Accounts payable: $60,000 Accounts receivable:$120,000 Depreciation, factory: $24,000 Inventories (5/31 & 5/30): $180,000 Direct materials used: $210,000 Office Salaries: $92,000 Insurance, factory: $4,000 Plant Wages: $140,000 Bonds Payab
The bookkeeper for Lowell's Country Music Bar left this incomplete balance sheet. Lowell's working capital is 90,000 and its debt to assets ratio is 40 percent. Complete the balance sheet by supplying the missing amounts. (see attached)
Please provide some ideas for discussion about managerial accounting and how GAAP statements are not sufficient.
A company has two producing department, mechanical (M) division and electronic (E) division, in addition to three service departments, facility management (FM) division, receiving and handling (RH) division, and human resource (HR) division. The company's main production activity is assembling, from a variety of components purch
The CEO and the CFO of Automation Company were both aware that the company's controller was reporting fraudulent revenues. Upper level executives are paid very large bonuses when the company meets the earnings goals established in company's budgets. While the CEO has pushed CFO and the controller to "make the numbers," he had no
1. Why does multiple product cost-volume-profit analysis often assume a constant product mix? 2. A manager in your organization just received a special order at a price that is "below cost." The manager points to the document and says, "These are the kinds of orders that will get you in trouble. Every sale must bear its share o
A consulting company was hired to improve efficiency. Was this good business? Briefly explain. Use the article "Stores Count Seconds to Trim Labor Costs" by Vanessa O'Connell found at: http://online.wsj.com/news/articles/SB122651745876821483
1. Quality Control Eastsound operates round-trip flights between two cities using a fleet of three planes: the Viper, the Tiger, and the Eagle. The budgeted quantity of fuel for each round trip is the average fuel usage, which over the past 12 months has been 150 gallons. Eastsound has set the upper control limit at 180 gal
Mel O'Conner owns rental properties in Michigan. Each property has a manager who collects rent, arranges for repairs, and runs advertisements in local newspapers. The property managers transfer cash to O'Conner monthly and prepare their own bank reconciliations. The manager in Lansing has been stealing from the company. To c
Mel O'Conner owns rental properties in Michigan. Each property has a manager who collects rent, arranges for repairs, and runs advertisements in local newspapers. The property managers transfer cash to O'Conner monthly and prepare their own bank reconciliations. The manager in Lansing has been stealing from the company. To cover
Restricted funds for Nonprofit fund accounting: Can a nonprofit (not-for-profit) organization release restrictions on a "strike fund" and use it in the general fund for current year activity? Why or why not? If you knew that the strike fund was held for steel workers' union to pay benefits during a potential strike versus a