578 Answered Questions for the topic accounting

Accounting

09/25/16

Calculate the total gross income/revenue (not net income) that should be recorded in Year 2. Do not include the dollar sign. No spaces in your answer.
Your company's year end is December 31. At the end of Year 2, you were in the middle of a large job. The client has already paid your company $40,000 of the total $52,000 that will ultimately be... more
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Accounting

09/19/16

Sweet Catering completed the following selected transactions during May 2016:
May 1: Prepaid rent for three months, $2,400May 5: Received and paid electricity bill, $220May 9: Received cash for meals served to customers, $3,850May 14: Paid cash for kitchen equipment,... more
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09/17/16

A sporting goods shop received 600 pairs of shoes that costs 420. If the cost of doing business was 180 of the sales what percent net was realized?
I'm a bit confused computing for the net percentage profit. Kindly show me how to solve the word problem
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09/17/16

Please help me compute for the additional profit. What would be the equation or formula?
A store owner average day sales of $500, realizing a profit of the selling price. To increase the volume of his sale, he advertised his goods spending an average of $20 a day for advertising. If... more
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Accounting Dividends Per Share

09/11/16

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a give
Dividends Per ShareTriple Z Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $10 par common.... more
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09/11/16

Effect of Financing on Earnings per Share Domanico Co., which produces and sells biking equipment, is financed as follows:
Bonds payable, 8% (issued at face amount) $10,000,000 Preferred $5 stock, $10 par 10,000,000 Common stock, $20 par 10,000,000 Income tax is estimated at 40% of income. Determine the earnings per... more
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06/28/16

Accounting: Bad Expense Account
Using the aging method of accounts receivable method, $5,900 of the company’s Accounts Receivable are estimated to be uncollectible. At the end of the year, the balance of Accounts Receivable is... more
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06/27/16

Accounting: Cost of Goods Sold Question
The Farley Corporation starts the year with a beginning inventory of 4,400 units at $7 per unit. The company purchases 6,400 units at $6 each in February and 3,400 units at $8 each in March. Farley... more
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06/27/16

Accounting: Inventory Question
Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of eight units at $4 per unit. The company... more
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06/27/16

Accounting: Calculate the cost of goods available for sale, cost of goods sold, and ending inventory
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $6 on January 1, (2) 450 units at $9 on January... more
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Accounting Inventory

06/26/16

Accounting Inventory Turnover Ratio
Your company sells $469,300 of goods during the year that have a cost of $398,600. Inventory was $29,783 at the beginning of the year and $34,038 at the end of the year.   What is the inventory... more
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Accounting

06/26/16

Accounting (FIND THE CASH AMOUNT OF PURCHASES)
Acme, Inc. had cost of goods sold of $2,200. If beginning inventory was $2,300 and ending inventory was $600, Acme's purchases must have been:   $500.$700.$3,900.$1,700.
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Accounting Journal Entry

06/26/16

ACCOUNTING Journal Entry, Net Sales, and Gross Profit Percentage (PLEASE HELP!)
Two different companies, Ripper and Berners, entered into the following inventory transactions during December. Both companies use a perpetual inventory system. • December 3 – Ripper Corporation... more
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06/26/16

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
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Accounting Journal Entry

06/26/16

Accounting Please Help!
Two different companies, Ripper and Berners, entered into the following inventory transactions during December. Both companies use a perpetual inventory system. • December 3 – Ripper Corporation... more
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Accounting

06/20/16

A gold mining processes gold every day. How does the company calculate the costs of processing one ounce of gold
A gold mining processes gold every day. How does the company calculate the costs of processing one ounce of gold per day?
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Accounting

06/11/16

Accounting
Bally Manufacturing sent Intel Corporation an invoice for machinery with a $14,000 list price. Bally dated the invoice July 23 with 2/10 EOM terms. Intel receives a 40% trade discount. Intel pays... more
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Accounting

06/04/16

Interview accounting question
The school has been given $17,000 to be distributed to the fourth grade teachers so they can purchase equipment. The principal has asked you to withhold 10% of the budget for other needs later in... more
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Accounting

05/30/16

need help with homework
For 2015, Roberta is a self-employed truck driver with earnings of $45,000 from her business. During the year, Roberta received $2,500 in interest income and dividends of $500. She also sold... more
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Accounting

05/30/16

need help with homework
Pat sells real estate for $30,000 cash and a $90,000 5-year note. If her basis in the property is $90,000 and she receives only the $30,000 down payment in the year of sale, how much is Pat’s... more
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Accounting

05/30/16

need help with homework
#9b In 2015, Michael has net short-term capital losses of $1,500, a net long-term capital loss of $27,000, and other ordinary taxable income of $45,000. How long may Michael carry forward the... more
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Accounting

05/30/16

need help with homework
Calculate the following:The first year of depreciation on a residential rental building costing $200,000 purchased May 2, 2015. A. None of the choices B. $5,446 C. $4,546 D. $3,940 E. $2,567
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Accounting

05/28/16

need help with homework
The first year of depreciation on a residential rental building costing $200,000 purchased May 2, 2015. A. None of the choices B. $5,446 C. $4,546 D. $3,940 E. $2,567   I don't understand this... more
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Accounting

05/28/16

need help with homework
#3e Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2015. Stock Date Purchased Date Sold $sales Price $Cost Basis4,000 shares Green Co. 6/4/04 8/5/15... more
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Accounting

05/28/16

need help with homework
The Au Natural Clothing Factory has changed its year end from a calendar year-end to March 31, with permission from the IRS. The income for its short period from January 1 to March 31 is $24,000.... more
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