The Vaughan audit team completed its audit field work on February 15, 2010. A conference was held on that date involving members of the audit firm and Bronys Bikes management. Participants in the...

Solutions Plus is an industrial chemicals company that produces specialized cleaning fluids and solvents for a wide variety of applications. Solutions Plus just received an invitation to submit a bid...

Your company is considering deploying a chatbot, a virtual customer assistant, to initially handle customer service calls and, only when necessary, route callers to human operators for additional...

Imagine that you are a manager in a commercial printing company, and you have found a good deal on the ink that your company uses most frequently from a supplier in Japan. Using the materials from...

RZNY, LP., is a calendar-year, cash-basis limited partnership. Marc Liu, an individual, owns a 55% interest in RZNY as a general partner. During Year 1, RZNY had the following results: 1. Sales -...

Exercise 4. Perez Company had the following transactions during January: 1. Jan 1 Issued $100,000 in stock to owners in exchange for cash to start the business. 2. Jan 5 Borrowed $50,000 from the...

Morelli Electric Motor Corporation manufactures electric motors for commercial use. The company produces three models. designated as standard. deluxe. and heavy-duty. The company uses a job order...

Hotel XYZ is an independent city centre hotel property with 200 rooms. In general its Average Daily rate is approximately 100 throughout the year, and its runs at an average of 65% occupancy. Its...

Exotic Electronics Canada (EEC), headquartered in Toronto, has been in business in the communication industry since 2010 producing and supplying electronic software in North America and Europe as...

On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and...

51. Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, and Wanda is employed part-time as...

According to the case above, advise Mr. Doolittle as to whether the expenses incurred in the United Kingdom would be deductible for income tax purposes? You are a chartered tax accountant working in...

The Rock Glen House B&B is operated as a sole proprietorship and had the following income and expenses for the year: Room rental income $137,900 Vending machine income 2,000 Advertising expense...

Scenario: You are an accountant at Rock Castle Construction. Your boss has asked that you create general purpose financial statements from a trial balance that he has created for you. Additionally,...

1. Jim Adams posts the column totals and individual transactions in "Other" columns to the appropriate general ledger account and updates each general ledger account balance. He places a posting...

You have recently assumed the role of CFO at your company. The company's CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital...

Roth Contractors Corporation was incorporated on December 1, 2019. Required: Part A 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger...

On January 1, 2014, Prince Corporation acquired 70% of the 100,000 outstanding voting shares of Song Limited for a cash consideration of $1,015,000. On that date, shares of Song Limited were trading...

Forecasting with the Parsimonious Method and Estimating Share Value Using the ROPI Model Following are income statements and balance sheets for Cisco Systems. Cisco Systems Consolidated Statements of...

Overview The milestone for Project One involves applying accounting principles and methods to long-term liabilities and equity. You will also evaluate these financial statement components for...

Snack That Inc. (Snack That) is a snack food and bakery product company with a large manufacturing and distribution facility in Evansville, Indiana. Snack That frequently sends employees from its...

On December 31, 2015, Martin Corp invested in Marlins 5-year, $200,000 bond with a 5% interest rate for $191,575. The bond pays semiannual interest on June 30th and December 31st. The fair values of...

Change Purse Inc. is a small business that is planned to be located in a small Nova Scotia town. The town was incorporated in 1889 and, like many communities in Nova Scotia, it prides itself on being...

Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at...

PRIME Inc. purchased 80% of the common shares of SQUARE Inc. for $5,000,000 on January 1, 2017. On that date, SQUARE Inc.'s Common Shares and Retained Earnings were valued at $3,440,000 and...

Presto's Brazilian Subsidiary, Brazil Co, owns a corporate office in a desirable location in downtown Brasilia. The property was purchased on 1/1/20X1 for the equivalent of $10 million USD and is...

Janet, after years of working as a hairdresser and as a makeup artist, decided to go into business for herself. Over time the business has grown into a spa and beauty retreat and she now employs a...

Review the attached financials for Walmart. As you might imagine, Walmart is considered to employ a Cost Advantage Business Level Strategy. What evidence can you find in their financials that might...

Answer- Mike Greenberg opened Swifty Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $14,200 cash in the company. 1 Purchased used...

David R. and Ella M. Cole (ages 39 and 38, respectively) are husband and wife who live at 1820 Elk Avenue, Denver, CO 80202. David is a self-employed consultant specializing in retail management, and...

The information provided in this assignment is in relation to a Nova Scotia company named Fairness Enterprise that is owned and run by G. Steinem. Faimess Enterprise offers consulting services to...

Shelly Beaman (social security number 412-34-6670) is single and resides at 540 Front Street, Ashland, NC 27898 Shely's W-2 wages Federal withholding Social security wages Social security withholding...

The founder of Frenza asks us to assist her in accounting and analysis of the corporations bonds, which have an annual contract rate of 8%. She wants to know the business and accounting implications...

James and Esther Johnson live at 45678 S.W. 112th Street, Homestead, FL 33033. James, who is 67 years old (date of birth 12/14/1952), is retired receiving social security benefits, and Esther, who is...

Based on the information provided below, complete a 2019 Form 1040 and any supporting schedules/forms for Bob and Melissa Grant. A Kentucky state income tax return is not required. You should...

Elon Motors produces electric automobiles. In recent years, they have been making all components of the cars, excluding the batteries for each vehicle. The company's leadership team has been...

Need a Balance Sheet, Income Statement for the below Green Corporation is a fictitious retail garden nursery. You have been provided the December 31, 2019 balance sheet for Green Corporation, as well...

The financial statements of Tarbet Township contain the following data regarding financial position: Governmental fund balances $ 5,000,000 Capital assets used in governmental activities $2,375,000...

In this mini-case you will audit and evaluate documents such as bank confirmations and bank reconciliations in the audit of one of EarthWear's cash accounts. The company has several other cash...

There are three rooms in a house: the kitchen, the bedroom, and the living room. There is a radio transmitter outside the home that can be received in each room. A user is wearing a device that can...

Using the data in the student spreadsheet file Ethan Allen financials.XLSX ( to find the student spreadsheets for financial Analysis with Microsoft Excel, eighth edition, go to...

1. What factors might have enabled JLR to raise new debt at less than half the coupon rate of interest in 2015 compared with the debt raised in 2011? 2. Compute the amount at which existing...

Fundamentals of Income Tax 2019 Owen (SIN 805 232 105) and Sonja (SIN 805 232 212) Cornell are married. They live at 2621 River Road, Your City, YP, P0M 1B0, phone number 983-2425. Owen was born on...

Garys Gears is a production facility that produces metal gears. The first step is stamping, which happens at a press. There are two identical presses that operate simultaneously (gears can be stamped...

Ashley attended an in-service education program about the outpatient prospective payment system (OPPS) where she learned that certain Medicare Part B services are paid according to ambulatory payment...

The Toliza Museum of Art In early 2009, Juan Antonio Jimenez has just begun his new position as Executive Director of the Toliza Museum of Art ("Toliza"). Toliza is a beautiful art museum located in...

Weekly customer demand for Amour du jour at a typical Amber restaurant is uniformly distributed between 200 gallons and 500 gallons. An Amber restaurant spends $75 per gallon to purchase the main raw...

Prepare a master budget for McGregor Pharmacy Company for the year ending December 31, 2021 using the following information. Prepare it per quarter. Use the tables provided by the professor. Fill it....

Arizona Corp. had the following account balances at 12/1/19: Receivables: $96,000; Inventory: $240,000; Land: $720,000; Building: $600,000; Liabilities: $480,000; Common stock: $120,000; Additional...

X Ltd. has 10 lakhs equity shares outstanding at the beginning of the accounting year 2016. The appropriate P/E ratio for the industry in which D Ltd. is 8.35. The earnings per share is Rs. 15 in the...

Sofia Lofts case, but under a new set of assumptions on page 11 of the case. First re-read the Sofia Lofts case, then click here to download the new page 11. Specifically, you are to write up a brief...

Village People Company issued 700 five-year bonds on July 1, 20x4. The interest payments are due semiannually (January 1 and July 1) at an annual rate of 4 percent. The effective interest rate on the...

Morning Star Ltd was registered on 1 July 2020, as a company with a constitution limiting the shares that could be offered to 5 000 000 Ordinary shares (including all classes) and 2 000 000preference...

Describe NetSuites products and services. What are NetSuites sources of revenues? What are NetSuites major expenses in your own words, describe: what is a performance obligation? Provide citation...

1. If Amanda and David wanted to transfer the ownership of all 5 policies to Paws and Claws today through an absolute assignment, calculate the total amount of their donation receipt they would be...

Kim Rhode is a university graduate who was a pre-veterinarian major with a CIS minor. She is a six- time Olympian from 1996 through 2016 and has won three gold medals, one silver and two bronze...

You are a senior auditor with Rodriguez & Jones, a small auditing firm located in Canterbury, an eastern suburb of Melbourne, Victoria. Your team has been assigned to the audit of a new client,...

Mr. M has been employed as an engineer by A Ltd., a company incorporated in Hong Kong. During the year ended 31 March 2019, Mr. M had the following income and expenditure. A monthly salary of...

Creating a Partnership Tax Return Overview You are a senior tax accountant in the firm, Ernest & Rainhouse. Joe, a new junior accountant, has just completed an interview with a new client Harry,...

It is March of 2021 and Clayton and Shaleen Miller have come to discuss their tax situation with you. They predict that Clayton will not have to pay taxes for the 2020 year, which they believe will...

Many institutions have fixed future liabilities to meet (such as pension payments) and they fund these future liabilities using default-free fixed income securities. When discount bonds of all...

You are given a series of trades. Each trade has a key, a value, a quantity, and a sequence number. For each trade, print the weighted moving average of all the trades for that particular key. Round...

You are working on a free-form Packet Tracer challenge activity as seen in Figure 1, you have been given the London Railways network.' The purpose of this EMA question is to build upon each of the...

Meet the Marcottes, Martin and Luz Marcotte that is. Martin is a successful graphics designer who is 38 years old, while Luz is a counseling psychologist, 35 years old, and is working at a State...

One aspect of the problem that has been ignored to this point is that each approved project must be led by a senior project manager. Julie has identified only eight senior managers who qualify and...

The City of Monroe maintains a Water and Sewer Fund to provide utility services to its citizens. As of January 1, 2017, the City of Monroe Water and Sewer Fund had the following account balances:...

In Example 9.2, the fixed costs are split $4 million for development and $2 million for marketing. Perform a sensitivity analysis where the sum of these two fixed costs remains at $6 million but the...

Focus Drilling Supplies has been growing steadily over the last 20 years. With increased exploration in the mining sector, the company has decided to expand their facilities for supplies and custom...

Harrell and Smith, Inc., 204 Ambulance Street, Anywhere, CA 92345, is a corporation (EIN 57-1234567) formed on January 1, 2010. Information concerning the corporation and its two shareholders...

1. Prepare a table-based ABC analysis of usage value. Classify as follows: A-items: top 20% of usage value B-items: next 30% of usage value C-items: remaining 50% of usage value 2. Calculate the...

A company makes two products - product A and product B which are sold at a profit per unit of $60 and $100, respectively. The three resources used to make these products are summarized in the table...

Exhibit 1: Prices and projected annual sales volumes for Sony PlayStation 3 and Microsoft Xbox 360 Elite Exhibit 2: Sony PlayStation 3 Production Costs per unit in dollars Exhibit 3: Microsoft Xbox...

Jane works in Ontario and is paid on a bi-weekly basis. She has the following type of earnings & benefits. Determine which are pensionable and insurable and then calculate the CPP and EI...

Noah and Joan Arc live with their family in Dayton, OH. Noahs Social Security number is 434-11-3311. Noah was born on February 22, 1983, and Joan was born on July 1, 1984. Both enjoy good health and...

Tess is the development manager for the Isabelle Stewart Gardner Museum in Boston. She was in the middle of a large campaign to raise $50 million for a building expansion project. Her development...

Use Goal Seek to determine the total finished square footage to meet the total cost goal of $350,000. Enter a series of total square footages ranging from 1,800 to 3,600 in increments of 200 in the...

Refer to the data below and use the Final Project Workbook that includes the income statement, balance sheet, retained earnings statement and cash flow statement to complete the final project and...

The Milk 4 All Company is considering branching into the ice-cream business. It will need a machine costing $1,000,000 to produce the ice cream. The machine will be depreciated over ten years to zero...

Need Journal, Income Statement, Retained Earnings Statement, Balance Sheet, and Post Closing Trial Balance Palisade Creek Co. is a merchandising business that uses the perpetual inventory system....

CP7-1 (Perpetual Method) Jeter Co. uses a perpetual inventory system and both an accounts receciv- able and an accounts payable subsidiary ledger. Balances related to both the general ledger and the...

Richard Norton recently purchased a farm. The farm is being operated as a sole proprietorship. Farm operations began on January 1, Year 1, and became profitable in Year 2. Richard uses the cash basis...

Matilda is downloading music and videos from an online site. She is currently buying three music downloads that cost $3 each and two video downloads that also cost $3 each. The table below indicates...

1. In cell E2, enter a formula using the HLOOKUP function to determine a staff member?s base salary (which is based on the number of years of service). a. Use a structured reference to look up the...

Following are the income statement and balance sheet for Medtronic PLC. Consolidated Statement of Income, 12 Months Ended ($ millions) April 26, 2019 Net Sales $30,557 Costs and expenses Cost of...

Prince Corporation holds 75 percent of the common stock of Sword Distributors Inc., purchased on December 31, 20X1, for $2,220,000. At the date of acquisition, Sword reported common stock with a par...

Nancy Nanny opened a child-care facility on January 1, Year 1. Use the Chart of Accounts below to complete the requirements on the following pages for Nancy Nanny Child Care. NANCY NANNY CHILD...

On June 15, 2019, Nicole Snobelen, owner of Evelynn by Nicole Snobelen (Evelynn), had just been informed that a location at The Market in the Western Fair District (The Market) had become available...

For the financial year ending 30 June 2020, Malkin Ltd has some liability issues for which it seeks your help: a) The company sells widgets and provides a one-year warranty. 100,000 widgets were sold...

Mr. LN. Vestor is retired and slowly selling some of his assets to supplement his retirement income. He wants to have some idea of how much tax he is going to owe for 2020 on the asset sales that...

Journalize the entry for Hot Rod Service using the following data from the payroll register: Regular earnings $16,370 Overtime earnings 903 Federal income tax withheld 2,268 Social Security tax with...

SC Consulting, a supply chain consulting firm, must decide on the location of its home offices. Its clients are located primarily in the 16 states listed in Table 5-5. There are four potential sites...

Barts Company has prepared the PP&E and depreciation schedule shown in Exhibit 8.46.1 below. The following information is available (assume the beginning balance has been audited): The land was...

December 31, 20X5 Posey Company acquired 90% of Stargell Corporation's outstanding common stock for $1,116,900. On that date: ? The fair value of the noncontrolling interest was $124,100; ? Stargell...

Kaitlin Carlton, a CPA sole practitioner, prepares tax returns each year for approximately 100 clients. Items 1 through 8 each represent an independent factual situation in which Kaitlin has prepared...

For 3 generations, the Shipman family has sent its children to Yale University, preparing them for successful professional careers. The Wilma Shipman Trust was established in the 1950s by Amys late...

Mr. Carter is the manager of Simmons Farm and Seed Company, a wholesaler of fertilizer, seed, and other farm supplies. The company has been successful in recent years primarily because of great...

Post the differences between the cash count and the cash register tape to the Cash Short and Over T account. Assume a change fund of $100. Date Cash Register Tape Cash Count Sept. 7 $1,295.89...

Mr. Brooks is employed as a financial analyst by a large Canadian public firm located in Winnipeg. During 2018, his basic gross salary amounts to $63,000. In addition, he was awarded an $11,000 bonus...

Bob and Melissa Grant are married and live in Lexington, Kentucky. The Grants have 17-year old twin daughters. The Grants would like to file a joint tax return for the year. The following information...

FlyHigh Tech, an early-stage startup, reports to its investors using a balanced scorecard that is prepared at the end of each quarter. During the first and second quarters of the current year, the...