S
  1. study help
  2. subject categories
  3. business
  4. accounting
  5. april 2014
  6. 01

Accounting Questions and Answers April 01, 2014

Expert-verified solutions to help you succeed

The current asset section of the Moorcroft Outboard Motor Companys balance sheet reported the following amounts: 12/31/2021 12/31/2020 Accounts receivable, net $ 440,000 $ 340,000 The average collection period for 2021 is 73 days. Required: Determine net sales for 2021. (Use 365 days in a year. Do not round intermediate calculations.)

1) On January 1, 2017, Oriole Company issued ten-year bonds with a face amount of $4700000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. Present value factors are as follows: At 8% At 10% Present value of 1 for 10 periods 0.463 0.386 Present value of an ordinary annuity of 1 for 10 periods

Peter Company manufactures a product in three processes: Cutting, Assembly, and Packaging. In the Packaging Department, materials are added at the end of the process. The following data are given for the Packaging Department: Units in beginning work in process, September 1 (40% complete) 3,000 Units started and completed during September 8,000

Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job P951 was completed with the following characteristics: The unit product cost for Job P951 is closest to:
image text in transcribedimage text in transcribed

The demand function for a product is modeled by p=72e-0.000025 where p is the price per unit (in dollars) and is the number of units. (a) What price, in dollars, will yield a maximum revenue? (Round your answer to the nearest cent.) $ (b) What is the maximum revenue (in dollars) at the price found in part (a)? (Round your answer to the nearest
image text in transcribed

The entry that includes a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable is a(n) Click the answer you think is right. net realizable entry to report the amount expected to be collected subsidiary entry to increase a customer's account for credit sales adjusting entry to allow for estimated bad debts write-off of a
image text in transcribed

Exercise 8-3 (Algo) Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 12.000 units) folllows. 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 10,000 units and 14,000 units. Complete this question by entering your answers in the tabs below.
image text in transcribedimage text in transcribedimage text in transcribed

step by step answer please BE17-12. LOf Michek Company loans Sarasota Company S200,000 at 6% fr 3 years on Jan ary 201. Michek mends to holdth s loan omaturity.Thefar value ofthe loan the end ofeach reporting period is as follows December 31, 2017 $2.050,000 December 31, 2018 2.020,000 December 31, 2019 2.000,000 Prepare the journal entry (ies) at
image text in transcribed

10 Homework Saved Help Save & Exit Check my On March 1, 2018, Beldon Corporation purchased land as a factory site for $76,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2018 Costs incurred during this period are listed below. Demolition of old building Architect's
image text in transcribedimage text in transcribedimage text in transcribed

Required information [The following information applles to the questions displayed below/ Onslow Company purchased a used machine for $240,000 cash on January 2. On January 3, Onslow paid $10,000 to wire electricity to the machine. Onslow paid an additionol $2,000 on January 4 to secure the machine for operation. The machine will be used for six
image text in transcribed

Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows. Sales Mix Unit Contribution Margin Lawnmowers 20% $30 Weed-trimmers 50% $21 Chainsaws 30% $39 Yard Tools has fixed costs of $4,342,800. Compute the number of units of each product that Yard Tools must sell in order to break

Whirly corporation s contribution format income statement for the most recent month is shown below: Total. Per unit Sales ( 7200 units) 223200. $ 31.00 $ Variable expenses. 129600. 18.00 Contribution margin. 93600. 13.00 Fixed expenses. 55100 Net operating income. 38500 Required: ( consider each case independently) 1. What would be the revised net

Suppose the hypothetical comparative condensed balarnce sheets of Nike, Inc. are presented here. Preptere a wertical analysis of the halarice sheet itata for Nhe for 2022. (Round percentogea to 1 decimai ploce, es. 12,1 ) other assets Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term Liabilities 1.260 Stockholders'
image text in transcribedimage text in transcribedimage text in transcribed

The following information relates to the pension plan for the employees of Wildhorse Co.: 1/1/17 12/31/17 12/31/18 Accum. benefit obligation $ 8940000 $ 9360000 $ 12300000 Projected benefit obligation 9465000 10158000 13707000 Fair value of plan assets 8625000 10620000 11754000 AOCI net (gain) or loss -0- (1602000 ) (1650000 ) Settlement rate (for

full answer for that please Chris, Consulting Engineer Trial Balance December 31, 2022 Cash \begin{tabular}{r} \multicolumn{1}{c}{ Debit } \\ \hlineR$29,500 \\ 56,800 \\ 2,330 \\ 1,260 \\ 32,500 \end{tabular} Equipment R$716 Allowance for Doubtful Accounts Supplies Prepaid Insurance Credit Accounts Receivable Accumulated Depreciation-Equipment
image text in transcribedimage text in transcribed

help please Kristen, an independent management consultant, is based in Atlanta. During March and April of 2022, she is contracted by a national hardware chain to heip implement revised human resource policies in Jackson (Mississippi) temporarily. During this period, Kristen flies to Jackson on Sunday night, spends the week at the district office,
image text in transcribed

Please answer the following while showing any possible steps: Service Emphasis The following analysis of selected data is for each of the two services Gates Corporation provides. Service A Service B Per-service data at 10,000 services Sales price Service costs: 526 $22 Fixed Selling and administrative expenses: Variable Fixed 4 In the Gates
image text in transcribed

WBG manufactures and sells electronic transducers that are used in military and commercial products. WBG has three divisions: Transducer Division. Military Division, and Commercial Division. The Transducer Division designs and produces transducers that are sold externally as well as internally to the Military Division and the Commercial Division.

Question 2 3 pts In deciding whether to further investigate a variance, an organization needs to weigh the costs of investigation against the: Size of the variance. Difficulty of the investigation. Nature of the variance Ongoing time constraints. Anticipated benefits from the investigation. Question 3 3 pts If the organization is making good
image text in transcribedimage text in transcribedimage text in transcribed

E20.19 (LO 3,4) (Accounting for an Operating Lease) Kaluzniak Corporation leased equipment to Moeller, Inc. on January 1, 2025. The lease agreement called for annual rental payments of $1,137 at the beginning of each year of the 3 -year lease. The equipment has an economic useful life of 7 years, a fair value of $7,000, a book value of $5,000, and
image text in transcribed

Assigning costs Xie Company identified the following activities, costs, and activity drivers for 2015. The company manufactures two types of go-karts: Deluxe and Basic Activity Expected Costs Expected Activity Handling materials 625,000 100,000 parts Inspecting product 900,000 1,500 batches 105,000 700 orders Processing purchase orders 175,000
image text in transcribedimage text in transcribed

In five years, Kent Duncan will retire. He is exploring the possibility of opening a self-service car wash. The car wash could be managed in the free time he has available from his regular occupation, and it could be closed easily when he retires. After careful study, Mr. Duncan has determined the following: a. A building in which an auto wash

Activity rates and product costs using activity-based costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity Budgeted Activity Cost Activity Base Casting $589,000

5. MAP Inc. income statement for the year ended December 31, 2019, contained the following condensed information. (5 Marks) Service revenue 900,000 Operating expenses (excluding depreciation) 570,000 Depreciation expense 70,000 (640,000) Gain on sale of equipment 26,000 Income before income taxes 286,000 Income tax expense 56,000 Net income
image text in transcribed

Miller Company's contribution format income statement for the most recent month is shown below: Total Per Unit Sales (43,000 units) $430,000 $10.00 Variable expenses 301,200 7.00 Contribution margin 129,000 $ 3.00 Fixed expenses 47,000 Net operating income $ 82,000 Required: (Consider each case Independently): 1. What is the revised net operating
image text in transcribed

X Requirements costs pe 1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows British Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $4,128,000. (Round contribution ratio to
image text in transcribedimage text in transcribedimage text in transcribed

3. Direct labor cost was $92,000, and indirect labor costs were $9,400. All labor costs were paid in cash. 4. The predetermined overhead rate was $0.25 per direct labor dollar. 5. Actual overhead costs other than production supplies and indirect labor for the year were $13,500, which was paid in cash. 6. The parts department completed work for
image text in transcribed

Assume you are the department B manager for Marley's Manufacturing. Marley's operates under a cost-based transfer structure. Assume you receive the majority of your raw materials from department A, which sells only to department B (they have no outside sales). The income statement for Marley's Manufacturing is shown below: Marley's Manufacturing
image text in transcribedimage text in transcribed

Three parts one question Problem 11-01A a-c (Video) On January 1, 2020, the ledger of Bonita Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $56,000 7,700 16,500 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which
image text in transcribedimage text in transcribed

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The companys balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 86,000 Accounts receivable 138,000 Inventory 75,000 Plant and equipment, net of depreciation 229,000 Total assets

14. Problem 5.16 (Present Value of a Perpetuity) eBook What is the present value of a $700 perpetuity if the interest rate is 10%? If interest rates doubled to 20%, what would its present value be? Round your answers to the nearest cent. Present value at 10%:$ Present value at 20%:$
image text in transcribed

Rita, a single employee with AGI of $100,000 before consideration of the items below, incurred the following expenses during the year, all of which were unremembered unless otherwise indicated: In addition, Rita paid $300 for dues to her professional business associated. The company reimbursed her after she submitted the appropriate documentation.
image text in transcribed

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, follow. Debit Credit a. Interest revenue $ 14,300 b. Depreciation expense

Classifying Long-Lived Assets and Related Cost Allocation Concepts cach of the following long-lived assets, indicate its nature and the related collection concept. Use the following symbols M8-1 08-1.8-3. - Nature L Land Building Equipment Natural resource Intangible Other Cast Allocation Concept DR Depreciation DP Depletion A Amortization NO No
image text in transcribed

please help me answer this by finding out the pension expense for the year. please help me andwer this asap Bissell Company received the following reports of its defined benefit pension plan for the current calendar year. PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $450,000 Balance, January 1
image text in transcribed

Dunstreet's Department Store would like to develop an inventory ordering policy of a 99 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets. Demand for white percale sheets is 4,300 per year. The store is open 365 days per year. Every four weeks (28 days)

Luke Unlimited Companys account balances on November 1 are as follows: Debit Credit Cash $7,800 Accounts Receivable 12,530 Allowance for Doubtful Accounts $740 Notes Receivable 6,000 Inventory 25,121 Prepaid Insurance 840 Office Supplies 465 Land 74,350 Buildings 66,580 Accumulated Depreciation: Buildings 21,400 Equipment 37,620 Accumulated

On January 1, 2019, Hongkang Company purchased equipment for $59,000. The company expects to use the equipment for 3 years. The asset has no salvage value. Calculate the accumulated depreciation at December 31, 2020. (Please note that answers should be rounded to th nearest dollar amount, i.e. $1,666.67 should be entered as 1,667 )
image text in transcribed

2. A company that uses job order costing reports the following information. Overhead is applied at the rate of 60% of direct materials. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of March, and Job 2 is finished but not sold by the end of March Direct materials used Direct
image text in transcribed

The accounting records of Whispering Winds Corp. show the following data. Beginning inventory Purchases Sales 3,010 units at $6 8,130 units at $8 9.090 units at $11 Calculate average unit cost. (Round answer to 3 decimal places, es 5.125) Average unit cost $ per unit Determine cost of goods sold during the period under a periodic inventory system
image text in transcribed

Calculate the future worth of the following cash flows. nominal rate = 13.95% compounding period = 2 Year End of year payment 1 $-4,120 2 $6,936 3 $-2,907 4 $-6,608 5 $-9,266 6 $4,314 7 $-2,822 8 $7,471 9 $6 10 $-9,357
image text in transcribed

[The following information applies to the questions displayed below.] Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2017, its Cash account shows an $17, 410 debit balance. Del Gato Clinic's June 30 bank statement shows $17, 209 on deposit
image text in transcribed

Which of the following is not a payroll tax on wages or salaries? Select one: o A. Federal product excise tax o B. State unemployment tax C. Federal Unemployment tax D. FICA tax
image text in transcribed

Required a. Distinguish the difference between the "pooling" and "separate investment account method" of profit distribution. b. Given the above, which method of profit distribution policy would Bank Islam adopt? c. Using your answer to (b) above, calculate the i. weighted average balance for each deposit type; ii. depositors share of profit based
image text in transcribedimage text in transcribed

Exercise 9-19 (Part Level Submission) whippet Bus Lin method in depreci 4-year useful lfe, the bu miles. Salvage value ls ?Your answer is correct. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost prr unit 0.52 Prepare a depreciation schedule assuming actual mileage was: 2017, 52,400; 2016 68
image text in transcribed

Culver Company sells 8% bonds having a maturity value of $1,700,000 for $1,511,507. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1. Determine the effective-interest rate. (Round answer to 0 decimal places, e.g. 18%.) The effective-interest rate LINK TO TEXT Set up a schedule of interest
image text in transcribed

Consider the following data relating to a particular project. Initial Cost ($) Annual Labor Cost (5) Annual Maintenance Cost (5) Other Annual Costs ($) Variable Cost per Unit ($) Residual Value ($) Selling Price per Unit ($) Annual Production (units) Useful Life (years) MARR (%) 140,000 15,000 9,100 20,500 1.35 28,000 6.15 24,000 8 10 Project
image text in transcribedimage text in transcribedimage text in transcribed

The following income statement, statement of cash flows, and balance sheet for the years 2019-2020 for Alison Co. are shown below. Alison Co. Income statement For the year ended Dec. 31 2020 Sales (net) Less expenses CGS (including 5000$ depreciation) Selling and administrative expense (includes deprecation of 7000$) Interest expense Total expense

P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Salvage Useful Life Bus Acquired Cost Value 1/1/15
image text in transcribed

ICOT Industries issued 16 million of its $1 par common shares for $444 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $2 million Required: 1. Prepare the journal entry to record the issuance of the shares. (If no entry is required for a transaction/event, select "No journal entry required" in the
image text in transcribedimage text in transcribed

Augsburg Corporation registr las siguientes transacciones para sus inversiones a largo plazo durante 2018: 22 de mayo Compr 1000 acciones de Miller Corporation a $55 por accin ms honorarios de corretaje de $1000 y clasific las acciones como activos financieros FVTPL. Miller Corporation tiene 30.000 acciones en circulacin. 30 de junio Recibi un

Question 4/5 Worth 5 points The issue of corporate governance is important because of which of the following? The interests of shareholders and the interests of directors never conflict. Directors who pursue their own interests at the expense of the shareholders pose a problem for the shareholders. In companies of any size, those who own the
image text in transcribedimage text in transcribedimage text in transcribed

Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for this year. Direct material (20 lbs. @ $2.50 per Ib.) Direct labor (10.hrs. @ $22.00 per hr.) Variable overhead (10 hrs. @
image text in transcribedimage text in transcribed

Jeffrey Enterprises has budgeted the following amounts for its next fiscal year: If Jeffrey Enterprises can reduce fixed expenses by $25,040, how will breakeven sales in units be affected? A. Increase by 358 units B. Decrease by 626 units C. Increase by 626 units D. Decrease by 358 units
image text in transcribed

INSTRUCTIONS: Using the Microsoft Excel, kindly prepare the required financial information in each of the following independent problems: Furthermore, for uniformity purposes, kindly use the following Account Title: Direct Raw Materials Inventory Work-in Process Inventory Finished Goods Inventory Overhead Control Overhead Applied Also, use the

Instructions On October 17, Nikle Company purchased a building and a plot of land for $616,200. The building was valued at $332,748 while the land carried a value of $283,452. Nikle paid $70,100 down in cash and signed a note payable for the balance. Required: Provide the journal entry for this transaction. Refer to the Chart of Accounts for exact
image text in transcribedimage text in transcribedimage text in transcribed

Help me. thank you 3. On January 1, 20x1, Run Co. acquired 80% interest in Walk Co. Information on Jan. 1, 20x1: Walk's net identifiable assets have a carrying amount of P480,000 and fair value of P600,000. The difference is due to CS Scanned with CamScanner 172 the following: inventory (carrying amount, P80,000; fair value, P100,000) and building
image text in transcribedimage text in transcribedimage text in transcribed

Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $48,000. At the beginning of year 1, Molly has tax basis and an at-risk amount of $20,000. In year 1, Beau Geste incurs a loss of $180,000 and does not make any distributions to the partners. In year 1, Molly's AGI (excluding any income
image text in transcribed

Calculator Disposal of Fixed Asset Equipment acquired on January at a cost of $400,200 has an estimated useful life of 10 years and an estimated residual value of $52,200 a. What was the annual amount of depreciation for the Years 1-3 using the straight-ine method of depreciation? Year Depreciation Expense Year 1 Year 2 Year 3 b. What was the book
image text in transcribedimage text in transcribed

Homework: Chapter 1 Homework Save Score: 0 of 10 pts 6 of 105 complete HW Score: 48%, 48 of 100 pts T11-4 (similar to) Assigned Media Question Help O 17. Using the information provided analyze the effects of Lowden Lawn Services transactions on the accounting equation C henow the transactions) Analyze the events honologically one transaction at a
image text in transcribed

Make-or-Buy Decision Make-or-Buy Decision Fremont Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $58 per unit. The company, which is currently operating below full capacity, charges factory overhead to production at the rate of 39% of direct labor cost. The unit costs to produce comparable
image text in transcribed

In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $130,000. overhead totaled $360,000 for the month. Information on inventories was as follows: Materials Work in process Finished goods Required: 1. What was the cost of direct materials used in September ? September 1 $130,000 $100,000
image text in transcribedimage text in transcribed

Direct Materials Mix and Yield Variances Chypre, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet: On May 2, Chypre produced a batch of 1,200 gallons with the
image text in transcribed

Problem 12-9A Condensed financial data of Whispering Winds Corp. follow. Whispering Winds Corp. Comparative Balance Sheets December 31 Assets 2017 2016 Cash $ 158,368 $ 94,864 Accounts receivable 172,088 74,480 Inventory 220,500 201,586 Prepaid expenses 55,664 50,960 Long-term investments 270,480 213,640 Plant assets 558,600 475,300 Accumulated

Multiple Choice/ True or False 20) As a result of inventory shrinkage: a) equity decreases b) there is no change to equity c) equity increases equity may or may not decrease depending on the inventory valuation method d) used 21) Which of the following statements about gress and for net income is true? a) Net income is usually larger than gross
image text in transcribed

E9.8 Adjusting Entry Accrued Expenses Using the QBO Sample Company, Craig's Design and Landscaping Services, complete the following. Interest on Craig's Notes Payable has been incurred, but not recorded or paid. The interest that has been incurred is calculated as principal multiplied by the interest rate multiplied by the time period ($8,000 x
image text in transcribed

Which of the following correctly lists the chronological order (oldest to most recent) of accounting standard setting entities in the United States? Which of the following correctly lists the chronological order (oldest to most recent) of accounting standard setting entities in the United States? 1. Accounting Principles Board 2. Governmental

Question 7 --/1 View Policies Current Attempt in Progress Laura Falk, Vaughn & Hill Fabricators' accounts receivable manager, has just received the company's sales budget for the first quarter. January February March Quarter Budgeted revenue $257,600 $502,320 $450,800 $1,210,720 The company makes all sales on credit. Laura recently reviewed the
image text in transcribed

Faz, Inc., manufactures and sells two products: Product XO and Product W7. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Direct Labor- Production Hours Per Unit 2,000 5 500 2 Product Xo Product W7 Total direct labor-hours Total Direct
image text in transcribedimage text in transcribed

9 23. Accounting Information at Sportswear Company, Refer to the dialogue between the president and accountant at Sportswear Company prounted at the beginning of the chapter Why cant the president find information for each product line (hats and jerseys) in the francial statements? Who within the company typically provides this type of
image text in transcribed

Read the SEC 10-K for your company to answer the questions below. Walmart Category: Revenue and Net Income Walmart What were the corporation's net sales, cost of goods sold, and gross profit? What was the corporate tax rate? This should be an item in the notes to the financial statement. Required disclosure usually explains the federal statutory

o Smithson, Inc. is a manutacturer of bad crystalglasses. The standard direct materials quantity is 1.0 pound per glass at a cost of $0.50 per pound. The actual result for one month's production of 6.000 glasses was 1.4 pounds per glass, at a cost of $0.30 per pound. Calculate the direct materials cost variance and the direct materials efficiency
image text in transcribedimage text in transcribed

Mandatory Question A company has 4,000 machine hours of plant capacity per month which are to be allocated to products A and B. The following per unit figures relate to the products: Product . B Sale Price 300 240 Costs: Direct Material 100 70 Direct Labour 65 50 Variable Overhead 20 40 Fixed Overhead 15 30 Variable Operating Expenses 40 20 Total
image text in transcribed

Cardinal Company is considering a five-year project that would require a $2,755,000 investment in equipment with a useful life of five years and no salvage value. The companys discount rate is 14%. The project would provide net operating income in each of five years as follows: Sales $ 2,875,000 Variable expenses 1,124,000 Contribution margin
image text in transcribedimage text in transcribed

The following information relates to Brunti Inc. for the forthcoming period. Product Product B 44,000 Sales and production (Units) Product C 33,000 Selling price (per unit) Prime cost (per unit) Product A 55,000 $ 49 35 Hours 2 104 92 Hours 5 81 71 Hours 4 Machine department (machine hours per unit) Assembly department (direct Labour hours per
image text in transcribed

Global Manufacturing, Inc. currently begins each sales cycle with 168,758 units in stock. This stock is depleted at the end of each sales cycle and then reordered. The firm currently places 4 orders per year The carrying cost per unit is $0.611 per year and the fixed order cost is $8,245 per order. Assuming there is no shortage cost for this firm.

Saved Springer Company had three intangible assets at the end of 2020 (end of the accounting year) a. A copyright purchased on January 1, 2020, for a cash cost of $15,100. The copyright is expected to have a 10-year useful life to Springer. b. Goodwill of $71,000 from the purchase of the Hartford Company on July 1, 2019. C. A patent purchased on
image text in transcribedimage text in transcribedimage text in transcribed

Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co. Salaries: Deductions: Sales salaries Warehouse salaries Office salaries $280,000 Income tax withheld 101,552 12,694 10,386 154,000 U.S. savings bonds 143,000 Group insurance $577,000 Tax rates
image text in transcribedimage text in transcribedimage text in transcribed

Its all 1 big question. I just added additional pictures of the spots that needs to be answered. thank you so much for your help! Austin Enterprises makes and sells three types of dress shirts. Management is trying to determine the most profitable mix. Sales prices, demand, and use of manufacturing inputs follow. Sales price Maximum annual demand
image text in transcribedimage text in transcribedimage text in transcribed

The stockholders' equity section of Concord Corporation as of December 31, 2020, was as follows: Common stock, par value $2; authorized 21100 shares; issued and outstanding 10550 shares $ 21100 Paid-in capital in excess of par 33000 Retained earnings 85000 $139100 On March 1, 2021, the board of directors declared a 14% stock dividend, and

Pro Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 430 direct labor hours that cost $14.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per
image text in transcribed

What would be the measured voltage (in volts) of an electrochemical cell consisting of pure cobalt (Co) immersed in a 0.798 M solution of Co2+ ions and pure zinc (Zn) immersed in a 14 M solution of Zn2+ at 341 K? Provide your answer to three decimal places. Do not include units. What would be the measured voltage (in volts) of an electrochemical
image text in transcribed

Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the companys products. The company is planning its raw materials needs for the third quarter, the quarter in which peak sales of Supermix
image text in transcribedimage text in transcribed

** this is all thee information given for this question***X Company no longer has the space necessary to produce all of its parts. A company has offered to supply one of X Company's parts for $27.69 per unit. This year, production was 11,500 units; next year, production is expected to be 15,250 units. Total production costs for the part this year
image text in transcribed

You own an antique that is currently worth $1500 and whose value increases linearly at a rate of $175 per year. If the prevailing interest rate remains constant at 5% per year compounded continuously, when will it be most advantageous for you to sell the antique and invest the proceeds
image text in transcribed

Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $375,000. Do not round intermediate calculation a. What is their federal tax liability? Round your answer to the nearest dollar. $ b. What is their marginal tax rate?
image text in transcribed

The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized Current Year Prior Year Balance Sheet Assets Cash Accounts receivable Merchandise inventory Property and
image text in transcribedimage text in transcribed

QUESTION 8 4 points Save Answ Questions 8-11 are based upon the following fact situation: On February 15 Paula, who sold fresh fruit wholesale in New York City, agreed to purchase 5,000 bushels of peaches from Sam, who operated a large peach orchard in California. The contract was made over the telephone, and Sam agreed to ship the peaches F.O.B.
image text in transcribed

Which of the following statements is prepared by all not-for-profit organizations? Statement of financial position. Statement of functional expenses. Statement of revenues, expenses, and changes in net position. Both A and B.

At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $1,040,000, and direct materials costs, $400,000. At year-end, the company's records show that actual overhead costs for the year are $1,307,400. Actual direct materials cost had been assigned to jobs as
image text in transcribedimage text in transcribedimage text in transcribed

Two manufacturing firms are using the following methods of costing the stock in trade and have the following units in closing stock in trade as at 30-06-2020: Firm A is using FIFO method and had 9,000 units of closing stock Firm B is using Average Cost method and had 10,000 units of closing stock Sr. # Date of Purchase Units Rate 1 02-07-2019

28 ROBLEM 7-3 concluded) CK 2 CFO, $0 Financial Statement Analysis Year 1 $ 19,000 10,000 50,000 21,000 ce Accounts payable...................... Bonds payable.. Common stock. Retained earnings. Treasury stock....... Total liabilities and equity............$100,000 Year 2 $ 12,000 30,000 61,000 28,000 (11,500) 7. Purchase of fixed assets for cash,
image text in transcribed

25W in the manth of the sole 65K in the monthaher the waie Bes tos monthe aker the wie 2. are never codected Reculrements 1. Prepen a sales tudget for at four montos, showing the bresidown botween cash and crodi wes 2. Pregaye a cach colbction budoet for December and Janiary. Round at arwetes ip to the hecrett dody
image text in transcribed

answer 2a and b please Exercise 7-8 (Algo) Payback Period and Simple Rate of Return [LO7-1, L07-6] [The following information applies to the questions displayed below.] Nick's Novelties, Incorporated, is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $680,000, have a fifteen-year
image text in transcribed

Mitken Corp currently makes 20,000 subcomponents a year in one of its factories. The unit costs to produce are: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost Per unit $15 10 15 10 $55 An outside supplier has offered to provide Mitken Corp with the 20,000 subcomponents at a $45 per unit
image text in transcribed

3. The accounting records of Wheel Ems showed a balance of $7,000 in Estimated warranty payable at December 31, 2017. In the past, Wheel Ems' warranty expense has been 2 percent of sales. During 2018, Wheel Ems made sales of $471,000 on account and paid $5,000 to satisfy warranty claims. Read the requirements Requirement 1. Journalize Wheel Ems'
image text in transcribedimage text in transcribed

Torgette Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows: Ave Cost Per Unit Direct materials $ 7.15 Direct labor $ 3.40 Variable manufacturing overhead $ 1.35 Fixed manufacturing overhead $ 2.80 Fixed selling expense $ 0.70 Fixed

Peabody Company prepared the following purchases budget: Budgeted Purchases. $34,000 $42,700 $39,800 $45,300 $48,900 Month June July August September October All purchases are paid for as follows: 60% in the month of purchase, 35% in the following month, and 5% two months after purchase. What are the cash disbursements in August to account for the
image text in transcribed

. The opening balance sheet for the enterprise "XYZ" is presented below: The Active Side The Passive Sade Account Value PLN Account Value PLN Paid in capital Property, plant & equipment 8950 Long-term financial assets 2000 Raw materials 2.100 10000 1700 Accounts receivable Finished goods Banking account Stock capital Retained profit Bank credit
image text in transcribed

Dawn Garret and Josh have partnership capital account balances of $225,000, $450,000 and $105,000, respectively. The income sharing ratio is Dawn, 50%: Garret, 40%; and Josh. 10%. Dawn desires to withdraw from the partnership and it is agreed that partnership assets of $195,000 will be used to pay Dawn for her partnership interest. The balance of
image text in transcribed

Showing 200 - 300 of 1505
  • 3 / 16