23 Answered Questions for the topic Accounting Principles

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
Accounting Principles Business Accounting Finance


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
Accounting Principles


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??
Accounting Principles


What is a balance sheet

what is the balance sheet and what does it tell me
Accounting Principles Accounting Financial Accounting


Accounting Question!!!

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
Accounting Principles


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
Accounting Principles Accounting Financial Accounting


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
Accounting Principles Accounting Accountancy


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
Accounting Principles


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
Accounting Principles


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
Accounting Principles


Please help!!!!

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
Accounting Principles


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

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