Accounting Questions and Answers January 06, 2021

Explain why students have fear of accounting?

In the ZZZZ Best case, explain the kinds of evidence that the auditors gathered and how the auditors failed. just write one or two paragraph to support ZZZZ Best Case On May 19, 1987, a short article in the Wall Street Journal reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a $13.8 million insurance

Shown below are structural diagrams for six pairs of molecules. From the list of four terms given below, choose the single term that best describes each pair and write it on the line below the pair of structures. Note that a term may be used more than once if necessary. enantiomers diastereomers constitutional isomers identical brs Et CH3 CH3 . F

In 2011, Charlie filed his 2010 state income tax return and paid taxes of $800. Also in 2011, Charlie's employer withheld state income tax of $750 from Charlie's salary. In 2012, Charlie filed his 2011 state income tax return and paid an additional $600 of state tax. How much state income tax can Charlie deduct on his 2011 federal income tax

Budde Chemicals produces two industrial chemical compounds, X15 and Z24, from the same process, which last year cost $600,000. Budde produced 10,000 gallons of X15, which sells for $40 per gallon and 40,000 gallons of Z24, which sells for $20 per gallon. Using the relative sales method, how much of the joint cost should be allocated to X15? Select

You're a senior manager in silicon valley for a large tech firm You're considering production in Malaysia Ireland or India Evaluate the benefits costs and risks associated with doing business in each nation Which country sees the most foreign direct investment? Why?

The following information describes the value Lori Landlord places on having her five apartment houses repainted. She values the repainting of each apartment house at a different amount depending on how badly it needs repainting. Value of new paint on 1st apt house 5,000 Value of new paint on 2nd apt house 4,000 Value of new paint on 3rd apt house

Your company's total revenue for the coming year has a triangular distribution with parameters min35, most likely55, and max80 (These values are in $ millions) However, there is a possible disruption that could occur, and it would decrease the total revenue This disruption has probability 02 of occurring, and if it occurs, total revenue will be a

The problem refer to Consulting Opportunity 31 is that the orders are not easily placed to the European plant which is compounded whenever demand for the products increases dramatically The company is looking for a systems solution that will address the problem and the solution should stress collaboration flexibility adaptability and access One of

Suppose each of five companies is possibly going to submit a sealed bid for a government contract. Each of these companies will either submit a bid, with a probability 0.7, or will not, with a probability 0.3. Any submitted bid has a triangular distribution with parameters min=30, most likely= 40, and max=60. (These values are in $ thousands.) The

When debating over what the 2013 budget should look like Christy was adamant that through advertising they could raise their sales in all categories of washes. Bob estimated that with extra encouragement when customers came in that they could entice customers to go with the Silver or Gold wash instead of choosing Bronze. They came to the

Direct Mailing Company sells computer hardware and software over the Internet. The company claims that at least 90% of all orders are mailed within 72 hours after they are received. A random sample of 150 orders showed that 129 were mailed within 72 hours. Does the sample data provide evidence to conclude that less than 90% of all orders are

Record shows that on the average 48 car breakdowns is reported to the patrol on an urban highway in any given day On receiving the report the highway patrol dispatches emergency unit to the breakdown site On the average it takes 30 minutes to clear the site It is assumed that the number of breakdowns on a given day follows Poisson distribution

The question states: Let X = time between calls to a service center, It is known that X follows an exponential distribution with a mean of 15 minutes, part 1. What is the probability that x is greater than 20 minutes? So far this is the only one I think I've been able to work out. Since we know that the average is 15 i.e. = 15, then = 115115 ,

26. Suppose that Britain pegs the pound to gold at the market price of 6 per ounce, and the United States pegs the dollar to gold at the market price of 36 per ounce. If the official exchange rate between pounds and U.S. dollars is 5 1. Which of the following trades is profitable A. Start with 100 and trade for 500 at the official exchange rate.

On December 31, 2016, Mason Company made the following proper year-end adjusting entries: PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Adjusting Entries 2 Dec. 31 Bad Debts Expense 530.00 3 Allowance for Doubtful Accounts 530.00 4 31 Salaries Expense 940.00 5 Salaries Payable 940.00 6 31 Unearned Rent 1,230.00 7 Rent Revenue

Sucher Company uses a standard cost system in which manufacturing overhead costs are applied to units of product on the basis of machine hours. The company's condensed flexible budget for manufacturing overhead is given below: Per Machine Hours Machine hour 20,000 25,000.00 30,000.00 Variable overhead costs 3.00 Fixed overhead costs 60,000.00

Locate the following two articles on Professor Kuangs course webpage: (1) Hollow men and women at the helmHollow accounting ethics? (2) Danish evidence of auditors level of moral reasoning and predisposition to provide fair judgments. Your paper should be organized into four sections by addressing the following four questions. a. What are the

Liaqat Trading Company is a wholesaler of domestic appliances to retailers in the territory. The companys accounts receivables from different retailing customers have accounted to Rs. 875,000 as on 30 April 2020. The company is using direct writeoff method for charging bad debt expenses and valuation of its accounts receivables. During May, 2020

Doherty Company is considering replacing the individual printers each employee in the corporate office currently uses with a network printer located in a central area. The network printer is more efficient and would, therefore, cost less to operate than the individual printers. However, most of the office staff think having to use a centralized

While taking a loan from a financial institution, Ritu Enterprises signed an agreement that they shall not pay dividend to its shareholder more than 15 until the loan is repaid, or dividend shall not be declared if the liquidity ratio is found to be less than 11. Identify the factor related to dividend decision being described in the above case.

The aggregate supply curve (AS) is positive relationship with price (P) in the short run therefore the curve is upward sloping from left to right. Whereas, in the long run aggregate supply (LRAS) curve is vertical. On the other hand, aggregate demand (AD) curve is downward sloping curve, showing the adverse relationship between output(Y) and price

Tom's Taxidermy expects to units 800 units of its specialty preservation product. The managerial accountant reported that manager must sell 400 units of specialty product to breakeven Compute the margin of in units. A. 1.200 units B. 400 units C. 500 units D. 600 units

Given: - Stock A will pay an unknown dividend at t = 1, and no dividends at = 2. - The price of stock A at t = 0 is 100 - r0,1 = 5% (annual rate with annual compounding) - r0,2 = 6% (annual rate with annual compounding) - The forward price on a 2-year forward contract on stock A is 99. Now consider a long dividend swap that costs nothing to enter

Research three different models of competition between firms that are highly interdependent. Discuss the similarities and differences between these special models. Be sure to explain the different circumstances where one model might be more appropriate to use than another.

Modify the solution to exercise 1 to fetch each row into a set of local variables. Use the PRINT statement to return each row in the format Name, $0.00 to the Messages tab. Here is question 1 that it is referring to:1. Write a script that creates a cursor for a result set that consists of the ProductName and ListPrice columns for each product with

On October 1, MAP Consulting Company borrows $15,000 cash on a note payable from ABC Bank with terms of 120 days @ 10%. They agreed to use a 360-day year for simple interest calculations. MAP Consulting Companys fiscal year ends on December 31. Journalize the following transactions: 10/01the initiation of the note, 12/31the adjusting entry for

The Finanical Accounting Standard Board recently issued an accounting standard that allows companies to report assets such as notes receivable at fair value Discuss how fair value versus historical cost potentailly involves a tradeoff of one desired quality of accounting information against another

Write a letter to your friend briefly explaining how your friend would be taxed under each of the business structures. Include in your letter the forms that are necessary and if there are any special taxes to be paid.

Individual users might exhibit resistance to use the information system This could be from fear of the new technology technophobia a failure to appreciate the power of the technology and lack of inhouse support staff This roadblock can be removed by making the technology more user friendly and accessible to managers In addition adequate training

Ron, age 19, is a full-time student at William Paterson University and is claimed as a dependent by his parents. During 2016, he received the following payments Academic scholarship for tuition $6,000 Academic scholarship for room and board 13,000 A loan from the college financial aid office 24,000 Salary 7,000 Cash gift from parents 25,000 What

Ron Smith opens an apartmentlocator business near a college campus. The com pany will be named Campus Apartment Locators. During the first month of opera tions, July 2013, the business completes the following transactions a. Smith invests 35,000. The business receives 35,000 cash and gives capital to Smith. b. Purchases S350 of office supplies on

A man claims to be able to distinguish between two kinds of wine with 90% accuracy and presents his claim to an agency interesting in promoting one of the wines. The following experiment is proposed to check his claim: The man is to taste the two types of wine and distinguish between them. This is to be done nine times with a three-minute break

9. The Stanley Cup winner is determined in the final series between two teams. The first team to win 4 games wins the Cup. Suppose that Dallas Stars advance to the final series, and they have a probability of 0.55 to win each game, and the game results are independent of each other. Find the probability that a) Dallas Stars wins the Stanley Cup b)

The owner of GetA Away Travel has recently surveyed a random sample of 250 customers of the agency. He would like to determine whether or not the mean age of the agency customers is over 25. If so, he plans to alter the destination of the special cruises and tours. If not, no changes will be made. The appropriate hypotheses are S24 H. 25 If he

We have studied and examined cost concepts and the different ways of classifying costs We looked at how cost classifications are related to how they will be used The classifications may be used for preparing external reports predicting cost behavior assigning costs to cost objects or for internal management decision-making, In other words, these

Pennask Corporation follows IFRS. Below are independent situations: During 2020, a factory worker was injured. The accident was partly the workers fault, and partly Pennasks fault. The employee has sued Pennask Corp. for $600,000. The corporations legal counsel believes it is possible that Pennask will lose the lawsuit. If they lose, the estimated

The Loban Company purchased four cars for $9,000 each, and expects that they would be sold in three years for $1,500 each. The company uses group depreciation on a straight-line basis. Required 1. Prepare journal entries to record the acquisition and the first years depreciation. 2. If one of the cars is sold at the beginning of the second year

Suppose Amazon tries to prevent a prediction algorithmn to be biased against female by excluding the use of female relatedn variable, e.g., "girl's school", "female team leader", etc., willn the algorithm be biased against female? nn a. Maybe, because the programmers are biased. n b. Maybe, because there are others variables that correlate withn

The profits and losses for the last years are Year Profit(loss) The average capital employed in the business is Rs 4,00,000. 20012002 (20,000) 20022003(5000) 200320041,96,000 200420051,52,000 The rate of interest expected from capital invested is 12. The remuneration of partners is estimated to be Rs 2,000 p.m. not charged in the above

The recognition of cost of goods sold as an expense in the same period that sales revenue is recognized from the sale of merchandise is a good example of the Oa, matching principle. Ob. full disclosure principle. Oc. revenue realization principle. Od. historical cost principle.

The current Australian foreign exchange at equilibrium is 0.7 US dollar ($US) per Australian dollar. What will happen to the Australian foreign exchange in the two following different scenarios? a. Each year, much more Australians travel to the United States than Americans travel to Australia. Due to the COVID-19 pandemic, worldwide travelling

nventory includes goods that are purchased and held for sale to customers Inventory is a reported on the When a system is used entries to Inventory are recorded at the end of the period based on the cost of goods sold model When inventory is purchased under the periodic

Comprehensive Problem 2 Part 4 and 6 Note You must complete parts 1 2 and 3 before attempting to complete part 4 and part 6 Part 5 is an optional work sheet 4 At the end of May the following adjustment data were assembled Analyze and use these data to complete Part 6 6 Journalize the adjusting entries For a compound transaction if an amount box

Victor, now age 61, and Maria, age 59, plan to retire at the end of the year. Since his retail management employer changed from a defined-benefit retirement plan to a defined-contribution plan ten years ago, Victor has been contributing the maximum amount of his salary to several different mutual funds offered through the plan, although his

Noble Company sold merchandise to Fugate Company on account for $73,000 with credit terms of ?/10, n/30. The cost of the merchandise sold was $43,800. During the discount period, Fugate Company returned $3,000 of merchandise and paid its account in full (minus the discount) by remitting $69,300 in cash. Both companies use a perpetual inventory

Some companies use financial measures, such a return on assets, to evaluate the performance of divisions, managers, and even individual employees. There are certainly risks associated with such a practice. Can you think of or locate an example where a company evaluating this way could actually encourage the opposite of the behavior that they

Calculate the amount of energy a woman takes in during a year on a 2200kcal a day diet 1 calorie 418J Calculate the amount of energy she spends in driving 5000 miles a year at 40miles to the gallon of octane given 1 gallon of octane weighs 312 kg and standard enthalpy of combustion octane 5512kJmol

You have been awarded monthly payments of 2800 for 15 years as an insurance settlement ABC Finance has offered to pay you a lump sum amount today in exchange for your annuity stream. When determining the price to be paid today will you or will ABC prefer a lower discount rate over a higher discount rate. Explain your reasoning.

Bangkok Bakery makes baked products for grocery retail outlets in the city It has three divisions bread cake and doughnuts Each division is run and evaluated separately but the main head office incurs costs that are indirect cost for the divisions Costs incurred in the head office are given below HRM management costs 1900000 Finance and accounting

Saint James Resort SJR operates a five star hotel with a golf course situated beside it SJR has a decentralized administration structure with three 3 divisions the divisions are lodging rooms conference facilities food restaurants and inroom service and recreation golf course tennis courts swimming pool and so on ACCT560 Advanced Management

Companies A and B are in the same industry and are identical except for cost structure. At a volume of 50,000 units, the companies have equal net incomes. At 60,000 units, Company As net income would be substantially higher than Bs. Based on this information, Multiple Choice Company Bs cost structure has higher fixed costs than As. Company As cost

For 2013, Winchester Company sold 80,000 units at a selling price of $20 per unit. Variable cost per unit was $15, and Winchester's net income for the year was $40,000. What was the amount of Winchester's fixed costs? $360,000 $440,000 $1,160,000 $400,000

Acme Company has variable costs equal to 30% of sales. The company is considering a proposal that will increase sales by $10,000 and total fixed costs by $7,000. By what amount will net income increase? a) $0 b) $3,000 c) $7,000 d) $4,000

Madeline Manufacturing Inc.s current stock price is $45 per share. Call options for this stock exist that permit the holder to purchase one share at an exercise price of $35.These options will expire at the end of 1 year, at which time Madelines stock will be selling at one of two prices $20 or $55. The risk-free rate is 3%. Using the binomial

International Machinery Company (IMC) is a Swedish multinational manufacturing company. Currently, IMC's financial planners are considering undertaking a 1-year project in the United States. The project's expected dollar-denominated cash flows consist of an initial investment of $2,350 and a cash inflow the following year of $3,450. IMC estimates

XYZ company has two service departments; Maintenance and Personnel and two producing departments, printing and developing. The maintenance department bills other departments based on the number of machine hours. In addition, the Personnel department bills the other departments based on the number of DL hours. Additional data: A?The printing

Unlike a sole proprietorship, a corporation's shareholders: a. own the firm and directly manage it as well. b. own the firm but do not directly manage it. c. do not own the firm but directly manage it. d. do not own the firm and do not directly manage it.

The purpose of this part of the assignment is to use the tools we covered throughout the course to determine if a project is desirable Youll begin by constructing a proforma income statement using the information given to estimate the cash flows of the project After youve done that youll estimate the cost of capital and finally youll use the tools

The normal stresses acting on two perpendicular planes at a point in a strained material are 70 MN m2 tensile, and 35 MN m compressive. In addition, a shear stress of 40 Nmm2 acts on these planes. Calculate the following (i) The magnitude of the principal stresses (ii) The direction of the principal planes (iii) The magnitude of the maximum shear

Create a risk management plan. You have a budget of $100,000 and a timeline of six (6) months for the plan. Refer to Figure A-1, Risk Management Plan Template, from Appendix A of the Hillson and Simon text to create the plan. https://www.studypool.com/uploads/questions/204213/20160726203317figure_a_1_2.pdf Write 5 pages paper Risk Management Plan

Go to finance.yahoo.com , and find the monthly rates of return over a 2-year period for five companies of your choice. Now assume you form each month an equally weighted portfolio of the five firms (i.e., a portfolio with equal investments in each firm). What is the rate of return each month on your portfolio? Compare the standard deviation of the

Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. Waterways gathered the following information from the managers.

Sales Unit sales for November 2016 112,500 Unit sales for December 2016 102,100 Expected unit sales for January 2017 113,000 Expected unit sales for February 2017 112,500 Expected unit sales for March 2017 116,000 Expected unit sales for April 2017 125,000 Expected unit sales for May 2017 137,500 Unit selling price 12 Waterways likes to keep 10 of

Read the fictitious scenario below and answer the following questions. Janet, from an affluent area Constantia, Cape town reads the Mkentane (2022) article mentioned above and agrees with the sentiments shared. Janet tells a friend of hers that the city does so much for these people and nothing for her area. Janet also states that these people

Written case study due case 162 peerless products inc answer all questions listed in the text for the case p 671 Book isSupply Chain Management A Logistics Perspective 9th edition Coyle Langley Novack Gibson ISBN13 9780538479189 REQIREMENTS Do not be parsimonious with your comments Make sure that you answer the questions well I expect each of your

a Determine if y is a polynomial function of x of degree less than 5 b If so find an equation for it x 1234567 y 4 7 14 25 40 59 82 x 2 4 6 8 10 12 14 y 6 13 26 45 70 101 138

Quack Pharmaceuticals is currently in the development of a drug, Symilin, that has shown promise in the treatment of different ailments: diabetes and obesity. Although there is a high correlation (and co-existence) between these two markets, the development process as well the resources that need to be deployed to successfully launch these

In FY 2016 Bravo Company sold 10,000 units, incurred total variable costs of 240,000, had a per unit contribution margin of 5, and reported a net loss of 19,000. Bravo Company expects that in FY 2017 there will be total fixed costs of 75,000 and that all other sales cost values will remain constant. Use this information to determine 1. FY 2016

Baseball Promotion Club Limited was formed in April 2011 to promote the sport and interests of its members. The club owns two flats (with the same rateable value) in Sai Kung. One of the flats is used for the clubhouse facilities, which include a bar and a canteen which are open to members as well as outsiders. The other flat is let to outsiders.

A technique of drawing a sample in which each sampling unit has a known, non-zero chance of being included in the sample: The sampling process where the probability of selection of each sampling unit is unknown. A biased selection of sampling units, based on the researcher's approach. Where each sample stratum is independent of its size relative

On July 1, 2015 the West Company purchased a 1,000,000 Pound Sterling CD from the Kardashian Bank of London. This 10% 3 year CD pays interest on June 30. Additional information is as follows: July 1, 2015 $1.85 = 1 pound sterling December 31, 2015 $1.99 = 1 pound sterling June 30, 2016 $1.88 = 1 pound sterling December 31, 2016 $2.02 = 1 pound

Ebony Pall married at a very young age to Stock N. Bond, a man of age 20 years her senior. They lived lavishly for the next 10 years, when a sudden and unexpected shark attack ended Mr. Bonds life. Fortunately, Stock expected he would not be around to take care of Ebony in her elder years, so he purchased 2 million in bonds and stocks to

Presented below is the balance sheet of Harriet's Hats as of December 31, 2009, along with some of the transactions that occurred during 2010. Harriet's Hats Ltd. Balance Sheet December 31, 2009 Assets Current Assets: Cash $ 5,000 Accounts Receivable 3,000 Prepaid Rent 500 Inventories 4,000 Total Current Assets $12,500 Property, Plant and

Researchers wanted to investigate how the amount dollar spent on medical bills in Tampa Bay varied by whether it was a hospital or a clinic, and whether the patient was treated in the spring, summer, fall, or winter season. They randomly selected 100 of the patients treated in the last 2 years and recorded the season and type of medical

Suppose that your company which once ranked on the first results page has slipped to a spot what should a business do if sales are declining What steps can you take to remedy this problem

Solar Utility is a rapidly expanding supplier of energy in the southwestern US. The firm has 5,000,000 shares of common stock outstanding on which it recently paid a $2 dividend. The common stock is currently priced at $30 per share. The firm wishes to maintain a payout ratio of 50%. The current earnings per share of $4 are expected to increase at

A manager wonders if the years with the company and the years as a union member matter in negotiating hourly pay At the 5 significance level can you conclude that the influence of these two explanatory variables is jointly significant First specify the competing hypotheses H0 2 3 0 HA At least one j 0 H0 2 3 0 HA At least one j 0 H0 2 3 0 HA At

1. A researcher claims that women who eat blue MM candies have a better chance of having a baby boy, and 50 such women gave birth to 27 boys and 23 girls. What conclusion should be drawn Use only the rare event rule and make a subjective estimate to determine whether the event is likely. Do not use formal procedures or exact calculations here. 2.

Go to the ACL internet website www. ACL. command click on the Your Needslink at the top then navigate to internal Audit and you will see links to Risk-Based Auditing. Watch the short demo video as well as some of the other demo videos in this area. Then write up some of the ways ACL can be used, toby auditors.

Concord Inc. reported a net income of $284000 during 2018 and paid dividends of $21000 on common stock. It also has 10000 shares of 6%, $100 par value cumulative preferred stock outstanding. Common stockholders' equity was $1240000 on January 1, 2018, and $1560000 on December 31, 2018. The company's return on common stockholders' equity for 2018

ployee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay period of December 15 J Seligman 90900L Marshall 115600 R Eby 114600T Olson 125000 For the pay period ending December 31 each employees gross earnings is 4800 The FICA tax rate is 62 on gross earnings of 117000 plus an additional

What polarization mechanism will be present in (a) alumina; (b) copper; (c) silicon; and (d) barium titanate?

In March 2016, NuVasive, a medical device company, raised $634 million of 2.25% convertible senior notes due 2021. The companys stock price was $45.15 at the time. The conversion rate is 16.7158 shares per $1000 bond. Calculate the conversion price in dollars and the premium as a percentage. Then discuss the reasons that explain the size of the

Discuss one (1) project where you used a problem-solving approach to address what turned out to be common-cause variation, or where you used a process improvement approach to deal with a special cause. If you do not have a personal experience that echoes either of these situations, you may use Internet to search for a case that reflects either of

Olaf, a citizen of Norway with no trade or business activities in the United States, sells at a gain 200 shares of MicroShift, Inc., a U.S. company. The sale takes place through Olafs broker in Oslo. How is this gain treated for U.S. tax purposes?

What were thefactors facilitated the expansion of European society from 1450 to 1650? What was the motivation, both for the individual European explorers and the states that supported them?

Calendar year ParentCo purchased all of the stock of SubCo on January 1,2012,for $500,000.SubCo produced a loss for 2012 of $150,000 and distributed cash of $25,000 to ParentCo. In 2013,SubCo generated a loss of $450,000;in 2014,it recognized net income of $45,000.What is ParentCo's capital gain or loss if it sells all of its SubCo stock to a

Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regular model and a catcher's model. The firm has 800 hours of production time available in its cutting and sewing department, 300 hours available in its finishing department, and 100 hours available in its packaging and shipping department. The production time

There are three (3) types of textbook based homework items located at the end of each chapter. These include Discussion Questions (DQ), Exercises (E), and Problems (P). Some homework items have been custom created. Complete the following homework scenario Required Compare the results of the three (3) methods by quality of information for decision

After tallying the receipts for their first year of operation, the owners of the Taco Barn are encouraged. Sales of their artisanal tacos, made from such exotic ingredients as ground beef, cheese, and beans, have been strong and seem to give hope to the coming year. Taco sales by month are shown in the table. January - 474 February - 485 March -

Home Depot, Inc. (HD), had 1244 million shares of common stock outstanding in 2016, whereas Lowes Companies, Inc. (LOW), had 929 million shares outstanding. Assuming Home Depot's 2016 interest expense is $919 million, Lowes' interest expense is$552 million, and a 36 percent tax rate for both firms, what is their break-even level of operating

Compute trend percentages, return on sales, asset turnover, and ROA, and compare with industry) Net sales, net income, and total assets for Aaron Shipping, Inc., for a five-year period follow: (In thousands) 2012 2011 2010 2009 2008 Net sales $900 $400 $352 $314 $296 Net income 50 39 46 37 24 Total assets 308 269 252 231 209 Requirements: 1.

The following balance sheet information is provided for Greene Company for Year 2: Assets Cash $ 4,200 Accounts receivable 10,350 Inventory 14,100 Prepaid expenses 900 Plant and equipment, net of depreciation 18,800 Land 12,700 Total assets $ 61,050 Liabilities and stockholders' equity Accounts payable $ 2,370 Salaries payable 8,930 Bonds payable

1. McQuinns Machining produces specialized equipment. Currently, overhead costs are allocated using machine hours. McQuinns CEO has heard about activity based costing, and would like to see if it makes any difference in the costs allocated to jobs at the company. The accounting staff has provided the following information about manufacturing

You have recently inherited a failing jeans company Jeans For U. Due to the companys failure to keep up with recent trends, last years the gross income was $20M, compared with $100M in 2019. Currently the companys target market is women, ages 15-24 living with their parents. The annual household income is $30K-$60K. Cost of the jeans is currently

You are in the process of buying a house. Your mortgage lender reviewed your credit score, employment history, debt-to-income ratio, and available funds youve set aside for the down payment. He quoted you a 2.75% interest rate for a 15-year loan, and a 3.50% rate for a 30-year mortgage loan. The house you want is $200,000 and you can make a 10%

Joan Inc. started a pension plan on January 1, 2016. At that date, prior service cost of $1,100,000 was granted to employees. At December 31, 2016, the following information was available: Service cost for 2016 $90,000 Fair value of plan assets $ 225,500 Projected benefit obligation $ 1, 278,000 Employer contribution for 2016 (at 12/31) $225,500

Steve Yeah right We had to shut the old Scher Company operations down this year because those products were no longer selling Thus our auditor is going to insist that we write off the 9000000 of goodwill to reflect the impaired value Kim We cant have thatat least not this year Do everything you can to push back on this one We just cant take that

Galaxy Cloud Services operates several data centers across the United States that contain servers which store and process the data on the Internet. Suppose that Galaxy Cloud Services currently has five outdated data centers: one each in Michigan, Ohio, and California and two in New York. Management is considering increasing the capacity of these

CHB, Inc., a bank holding company that is evaluating the potential for expanding into the state of Ohio. State law permits establishing branches in any county that is adjacent to a county in which a PPB (principal place of business) is located. The following map shows the State of Ohio. The DATAfile CHB contains an adjacency matrix with a one in

Boots Company has two divisions. Land Division, which has operating assets of $80,000,000 produces and sells 900,000 units of a product at a market price of $140 per unit. Variable costs total $40 per unit. The division also assigns $70 of fixed costs to each unit based on total capacity of 1,000,000 units. Sea Division wants to purchase 200,000