Questions And Answers Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans P16-2 (Entries for Conversion, Amortization, and Interest of Bonds) Volker Inc. issued $2,500,000 of convertible 10 -year bonds on July 1, 2014. The bonds 1.12K viewsDarshita asked June 8, 2017 0 Votes 1 Ans E16-15 (Weighted-Average Number of Shares) Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $10 900 viewsDarshita asked June 8, 2017 0 Votes 1 Ans Berg Company adopted a stock-option plan on November 30, 2013, that provided that 70,000 shares of $5 par value stock be designated as available for the granting of options to officers of the corporation at a price of $9 a share. 1.15K viewsDarshita asked June 8, 2017 0 Votes 1 Ans This question is based on the monthly maintenance expenses of a company, which are to be analyzed for purposes of construction a flexible budget. Examination of past records disclosed the following costs and volume measures: Highest Lowest Cost per month $40,000 $32,000 Machine hours 24,000 16,000 Using the high-low-point method of analysis, the estimated variable cost per machine hour is Question 8 options: A) $1.08. B) $0.80. C) $2.50. D) $1.00. 799 viewsDarshita asked June 8, 2017 0 Votes 1 Ans Rouse Consulting computes the cost of each consulting engagement by adding a portion of firmwide overhead costs to the labor cost of the consultants on the engagement. 759 viewsDarshita asked June 8, 2017 0 Votes 1 Ans Recording Cash Sales, Credit Sales, Sales Discounts, Sales Returns, and Sa [The following information applies to the questions displayed below] Campus Stop, Inc., is a student co-op. Campus stop uses a perpetual inventory system. 935 viewsDarshita asked June 8, 2017 0 Votes 1 Ans Dirt Cleaners, Inc. has the following production data for January: Transferred out 50,000 units Ending work in process 6,000 units The units in ending work in process are 100% complete for materials and 60% complete for conversion costs. There is no beginning work in process. Materials cost is $4 per unit and conversion costs are $11 per unit. Determine the costs to be assigned to the units transferred out and the units in ending work in process. Cost assigned to units transferred out Cost assigned to the units in ending work in process 933 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Malard Corporation was authorized to issue 200,000 shares of $8 par common stock and 50,000 shares of $80 par, 4 percent, cumulative preferred stock. Malard Corporation completed the following transactions during its first two years of operation: 805 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Below are approximate amounts related to retained earnings reported by five companies in previous years. 1. Coca-Cola reports an increase in retained earnings of $2.0 billion and net income of $4.5 billion. 2. Pepsico reports an increase in retained earnings of $2.2 billion and dividends of $1.4 billion. 3. Google reports an increase in retained earnings of $1.48 billion and net income of $1.48 billion. 4. Sirius Satellite Radio reports beginning retained earnings of −$1.84 billion, net loss of $0.88 billion, and $0 dividends. 5. Abercrombie & Fitch reports ending retained earnings of $1.60 billion, net income of $0.31 billion, and dividends of $0.05 billion. 757 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Paul Sabin organized Sabin Electronics 10 years ago to produce and sell several electronic devices on which he had secured patents. Although the company has been fairly profitable, it is now experiencing a severe cash shortage. For this reason, it is requesting a $550,000 long-term loan from Gulfport State Bank, $125,000 of which will be used to bolster the Cash account and $425,000 of which will be used to modernize equipment. The company’s financial statements for the two most recent years follow: 873 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Jupiter Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $111 per unit. The company, which is currently operating below full capacity, charges factory overhead to production at the rate of 50% of direct labor cost. The fully absorbed unit costs to produce comparable carrying cases are expected to be as follows: 868 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Ellen Co. has ofered their customers a 1% discount of the amount owed iF they pay within 15 days oF receiving their bill. Handler Company owed Ellen Co. $2,185 as oF May 1stand paid Ellen Co. on May 7th. How much cash did Handler Company send to Ellen Co. on May 7th? 729 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Financial statements for Askew Industries for 2016 arc shown below (in $000’s): Required: Calculate the following ratios for 2016. 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on shareholders’ equity 9. Equity multiplier 10. Return on shareholders’ equity ( 1.22K viewsDarshita asked June 7, 2017 0 Votes 1 Ans Oriole Company is in the process of preparing its financial statements for 2017. Assume that no entries for depreciation have been recorded in 2017. The following information related to depreciation of fixed assets is provided to you. 723 viewsDarshita asked June 7, 2017 0 Votes 1 Ans On December 31, 2017, Key Co. received two $10,000 noninterest-bearing notes from customers in exchange for services rendered. The note from Alpha Co., which is due in nine months, was made under customary trade terms, but the note from Omega Co., 835 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Arab Cleaning Service, Inc. completed the following transactions during July, 2016: July 1 Shareholders invested $15,000 cash in the business in exchange for common stock. 1 Purchased equipment for $10,000, paying $3,000 cash and the balance on account. 963 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Client X contacted you for clarification and recommendations regarding in what instances should goodwill be adjusted for impairment? I need about 100 words please 590 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Many management theorists believe that most large instances of fraud in organizations occur because top managers did not establish a strong enough ethical tone. Others believe fraud is based on poor leadership from top managers, which then trickles down to employees. Which argument do you agree with? Provide at least 3 examples in support of your view. 671 viewsDarshita asked June 7, 2017 0 Votes 1 Ans The management of Vert Lawnmowers has calculated the following variances: Direct materials cost variance $ 10 comma 000$10,000 U Direct materials efficiency variance 36 comma 00036,000 F 673 viewsDarshita asked June 7, 2017 0 Votes 1 Ans Maya is a senior auditor with Childs, Maxwell and Weaver, LLP. Maya specializes in auditing loan loss reserve for financial institution clients. This current year 515 viewsDarshita asked June 7, 2017 « Previous 1 2 … 41 42 43 44 45 … 128 129 Next »
