23 Answered Questions for the topic Accounting Principles
prepare journal entries
company declared 1,000 shres of $1 par preferred stock on jan 1st and received $17 per share in cash
just a simple clarifying question! Urgent!
If a trial balance on 30 April 2017 shows: Debit ($) MAINTENANCE 2800 With the additional info that: The company is billed for maintenance... more
the company earned service revenue of $9000 and sold the entire $7500 of inventory it had for $13,250 for cash
is this operating, investing or financing activity??
What is a balance sheet
what is the balance sheet and what does it tell me
Etcetera Clothing sold merchandise inventory on account at a price of $22,000 with payment terms of 2/10, n/30. The merchandise cost Etcetera Clothing $18,000. If the customer paid for the... more
If the market interest rate is 7%, what type of bond price can Nooks expect for the bonds?
Nooks is planning to issue $470,000 of 5%, 10 year bonds payable to borrow for a major expansion. The owner, Simon Nooks, asks your advice on some related matters. If the market interest rate... more
I'm so confused and don't know where to start
Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 3,575 CDs with a unit cost of $10. During March, Dunbar made the... more
Advanced Financial Accounting Question Need Help Today
Gunther Co. established a subsidiary in Mexico on January 1, 2011. The subsidiary engaged in the following transactions during 2011:January 1 : Sold common stock to Gunther for 5,000,000 pesos .... more
stock holders equity accounts
On January 1, 2014, Everett Corporation had these stockholders’ equity accounts.Common Stock ($10 par value, 80,800 shares issued and outstanding) $808,000Paid-in Capital in Excess of Par Value... more
partial balance sheet
Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $941.5; land $216.0; patents and trademarks (at cost)... more
Dec 6. Purchased for $180,000 all the equipment formerly owned by Rent-it. Paid $80,000 cash and issued a one- year note payable for $100,000, plus interest at the annual rate of 9%. How would... more
Accounting help please.
Any business event that might affect the future of a business profitability should be reported on the balance sheet. True or False?
Accounting Budgeted Expenses Question Will Give Best Answer, Need Help Today
I need detailed help on how to solve, and where each number comes from to obtain correct answer of E) Orange Corporation makes and sells a single product called the IPax. The demand for IPax... more
Help with Accouting balance sheet retained earnings.
Accounting balance sheet: I have $31,400 cash, accounts receivable 10,600, equipment 39,200, snowmobiles 15,400, buildings 500,000, land 425,000, furnishings 58,700, which gives me a total of... more
desperately need help managerial accounting question, will give best rating immediately
The Raleigh Company is located in North Carolina and uses predetermined overhead rates to apply manufacturing overhead costs to jobs. The predetermined overhead rate is based on machine hours in... more
Return On Investment Question Managerial Accounting Need Help
The Clipper Corporation had net operating income of $380,000 and average operating assets of $2,000,000. The corporation's minimum required return on new projects is 18%. The U.S. division of the... more
Average Operating Assets Calculation Question Accounting
Last year, our return on investment equaled 20% ; our residual income equaled $50,000, and our minimum required rate of return (cost of capital) was 12%. What were our average operating assets... more
Operating Division Allocation Question Need Help
Boudrie Corporation's Maintenance Department provides services to the company's two operating divisions : the Paints Division and the Stains Division. The variable costs of the Maintenance... more
estimated manufacturing overhead question cost accounting need help tonight!, will give best rating, upvotes!
The Turquoise Company uses predetermined overhead to apply manufacturing overhead to jobs. The predetermined overhead is based on labor cost in Department A and machine hours in Department B. At... more
units sold question managerial accounting need help tonight
Gray Company produces and sells a single product. The information about their operation for the last month is given below. How many units did they sell during the last month ? Price :... more
Make or Buy Decision Question Managerial Accounting
Ahron Company makes 8,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows : Direct Materials : $14.90 Direct Labor :... more
Prepare all journal entries needed on 9/30/2014 to record the disposal; Show your computations
Parker Industries has a fiscal year end of 12/31 and uses the straight-line method of depreciation. On Sept 30, 2014, the company sold old delivery equipment for $17,000. The delivery equipment was... more
What is the significance between the methods of analysis : horizontal analysis, vertical analysis, and ratio analysis.
how does the financial information is used help to make a particular decision?A