Will Beck, Ron Beck, and Barb Beck formed the BBB Partnership by making capital contributions of $174,000, $124,286, and $198,857, respectively. They predict annual partnership net income of $245,000 and are considering the following alternative plans of sharing income and loss: (a) equally; (b) in the ratio of their initial cap
"A worksheet is a permanent accounting record and its use is required in the accounting cycle." Choose a position for or against the above statement and support your answer.
Analyse the attached journal article with regard to the impediments to organisational learning. Evaluate the findings of the article with respect to psychological, cultural, structural, and leadership barriers to learning. What influence do such barriers have on the organisation and its learning and performance?
Hello, Problem: Xtech Inc issued a promissory note to Jay Entp in the amount of of $400,000 on January 1, 2007, the due date is December 31, 2011. The note has a stated rate of 4%. Interest is due each year on December 31. The current yield rate of interest is 8%. A) What is the present value? B) What entry would Jay
Journal Entries and Liability Related to E13-2 (Accounts and notes payable) and E13-5(Compensated Absences).
E13-2 (Accounts and notes payable) and E13-5(Compensated Absences) (E13-2)The following are selected 2012 transaction of Darby Corporation. Sept 1: Purchase inventory from Orion Company on account for 50,000.Darby records purchases gross and uses a periodic inventory system. Oct 1: Issues a 50,000,12 month,8% note to Orio
Edison Company manufactures wool blankets and accounts for production costs using process costing. The following information is available regarding its May inventories. Beginning Inventory Ending Inventory Raw materials inventory $
Please help me prepare journal entries for the below scenarios, showing how you came up with your numbers. Thank you. QUESTION ONE: Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2012, it assigned, under guarantee, specific accounts amounting to $150,
Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. On Aug 1, 2012 Arantxa reacquired 200 shares at $80 per share. on Nov 1, Arantxa reissued the 200 shares at $70 per share. Arantxa had no previous treasury stock transaction. Prepare Arantxa's journal entries to record these transaction using the cos
Explain the purpose and importance of the completeness assertion for accounts payable. Explain some major risks inherent in the payroll cycle. How can these risks be mitigated?
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
The stockholders' equity section of Carey Co's balance sheet at December 31,2012, was as follows: common stock--$10 par (authorized 1000000 share $6000000 issued and outstanding 600000 shares) Paid in capital in excess of par 1500000 Retained earning
Please prepare the journal entries for the following transactions for Notre Dame University (private non-profit.) 1. Received unrestriced cash gifts of $300,000. 2. Received a gift of $40,000 with a restriction to use it solely for the purchase of lab equipment. 3. Purchased lab equipment (from #
Vargas Corporation: Journalize transaction for net income, post the journal entries to the stockholders' equity accounts
A. Vargas Corporation is authorized to issue 20,000 shares of $50 par value, 10% Preferred stock and 125,000 shares of $3 par value common stock. On January 1, 2012, the ledger contained the following stockholders' equity balances. Preferred Stock (10,000 shares) $500,000 Paid-in Capital in Excess of Par Value-Preferred
Do the steps in a merchandising firm's accounting cycle tend to be more condensed?
What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle?
Need help finding a scholarly journal article for business class.
A company issued a 4-year, $50,000, non-interest-bearing note to its bank on January 1, 2010. The implicit interest rate is 12%. Determine the amount of cash received and prepare the journal entries for (a) the Jan. 1 issuance and (b) the Dec. 31 recognition of interest.
E-Z Manufacturing partners' share of net income, partner's equity at year end; stockholders' equity section and journal entries for S & X Co.
Problem C1, C2 must be done in Excel and with calculations shown. Problem C.1 E-Z Manufacturing Company is a partnership among Yolanda Gonzales, Willie Todd and Linda Yeager. The partnership contract states that partnership profits will be split equally among the three partners. During the current year Gonzales withdrew
On June 10, Meredith Company purchased $8,000 of merchandise from Leinert Company FOB shipping point, terms 2/10, n/30. Meredith pays the freight costs of $400 on June 11. Damaged goods totaling $300 are returned to Leinert for credit on June 12. The scrap value of these goods is $150. On June 19, Meredith pays Leinert Company i
On Jan. 1, 2009, Qix Corp. issued $477,000 of 7% bonds, due in 10 years. The bonds were issued for $444,589, and pay interest each July 1 and Jan 1. Qix uses the effective interest method. Prepare the company's journal entries for (a) the Jan 1 issuance, (b) the July 1 interest payment, and (c) the Dec 31 adjusting
The steps in the accounting cycle for a merchandising company are different from the accounting cycle for a service company. Discuss whether or not you agree or disagree. 2. Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.
1. The steps in the accounting cycle for a merchandising company are different from the accounting cycle for a service company. Discuss whether or not you agree or disagree. 2. Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.
Axel Corporation acquires 100% of the stock of Wheal Company: Prepare journal entries and worksheet under purchase and pooling.
Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition: Book Value Fair Value Cash......................................................... $ 40,000 $ 40,000 Accounts receivable..................................
4. The BBB corporation has experienced cash flows problems and decides to improve its current cash position by factoring 30% of its receivables (sales without recourse) and assigning the remainder with the same finance company. The agreement, dated Oct 1, 2011, stipulates that a 10% commission will be assessed on factored accoun
Problem 5-7: The Village of Harris issued $5,000,000 in 6 percent general obligation, taxsupported bonds on July 1, 2011, at 101. A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment dates are December 31 and June 30. The first of 20 annual principal paymen
Select a scholarly empirical journal article* in Business and craft a response that adheres to the following: - Paragraph 1: Provide a quick overview of the study. - Paragraph 2: Analyze the way the research study was completed from an ethical standpoint. - Paragraph 3: Assess if it was done well or not Since you are do
What are the steps in the accounting cycle? List and explain.
Benny Hill had earned (accumulated) salary of $96,000 through November 30. Her December salary amounted to $9,000. Pam Lane began employment on December 1 and will be paid her first month's salary of $3,500 on December 31. Income tax withholding for December for each employee is as follows: Kim Benny Pam Lane Federal Incom
The blind review of a journal submission usually requires a minimum of how many reviewers? Three One Six Nine Question 2 When evaluating the usefulness of a research study in relation to the hypothesis, it is important to make sure: there is no association between variables. the author relates results of a previous review. there is a current references list. the hypothesis can be tested. Question 3 What benefit do secondary sources provide? Secondary sources provide the most direct link to available research. Secondary sources provide the bulk of the information for a literature review. Secondary sources provide a scholarly summary of available research. Secondary sources provide a multidisciplinary database.
The blind review of a journal submission usually requires a minimum of how many reviewers? Three One Six Nine Question 2 When evaluating the usefulness of a research study in relation to the hypothesis, it is important to make sure: there is no association between variables. the author relat
Indicate in general journal form how the items below would be entered in a worksheet for the preparation of the statement of cash flows. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. If no entry is required enter "No Entry" for the account and 0 for the amount.) (a) Net income is $31
Can you help me get started on this assignment? Notes Payable and Wages Payable P2. Part A: State Mill Company, whose fiscal year ends December 31, completed the following transaction involving notes payable: 2010 Nov. 25 purchased a new loading cart by issuing a 60-day 10 percent note for $86,400. Dec 31 made the en