575 Answered Questions for the topic accounting

Accounting

02/21/16

Accounting Question
Durbin Corporation reported net sales of $259,800, cost of goods sold of $121,800, operating expenses of $46,950, net income of $32,140, beginning total assets of $511,400, and ending total assets... more
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02/20/16

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
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02/16/16

Keep getting the answer wrong not sure if I'm categorizing properly
I'm not sure how to properly categorize this accounting problem.   Journalize the transactions using a perpetual inventory system. Waters Hardware Store completed the following merchandising... more
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02/14/16

I'm not sure how to properly categorize this accounting problem
Waters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Water’s ledger showed Cash of $10,858 and Common Stock of $10,858.May 1... more
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02/13/16

Accounting
Waters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Water’s ledger showed Cash of $10,858 and Common Stock of $10,858.May 1... more
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Accounting

02/13/16

Accounting Help
How do you calculate depreciation
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Accounting

02/13/16

Accounting Help
Monica Porter loves photography and wants to start her own company. She is single, 26 years old, and lives in an apartment in Nicetown. She has a job as a clerk in a grocery store that currently... more
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Accounting

02/12/16

Accounting Help
Monica Porter loves photography and wants to start her own company.  Her dream is to be a portrait photographer specializing in events such as Weddings, Birthdays, Graduations, etc. She has saved... more
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Accounting

02/08/16

Accounting
Journalize the July transactions.   July 1 Issued 16,889 shares of common stock for $16,889 cash.1 Purchased used truck for $12,889, paying $2,041 cash and the balance on account.3 Purchased... more
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Accounting

02/02/16

Accounting
Transactions for the Hartman Company for the month of November are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations. 1.... more
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Accounting

01/23/16

for a merchandising business selling and administrative costs are product costs
for a merchandising business selling and administrative costs are product costs
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Accounting

01/12/16

PROBLEM: Inventory and Sales
GHI had the following information on their Income Statement 2011 Sales 2,560,000Sales return 25,000Purchases 1,650,000Purchase return and allowances 14,000Freight- in 15,000Raw materials, beg... more
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Accounting

01/12/16

PROBLEM: Accrual Accounting
DEF Corporation’s net income under cash basis is 2,225,000. The only discrepancy if it will be compared with accrual basis is the accrued expenses. The accrued expenses are as follows:Accrued... more
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Accounting

01/12/16

PROBLEM: Measuring Income for Performance Assessment
ABC Co. is selling books. A unit of book costs P16.50. On 2011, ABC has sold 2500 books. Its beginning inventory and ending inventory is 125,000 and 120,000. 30% of the units sold price is P25.00.... more
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Accounting

12/09/15

account math
Christina Crinckle earns $290.25 per week plus 4% commission on al sales. If Christina averaged sales of $11,500 for the week, what was her total pay for the month, assuming a four-week month?
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Accounting

12/05/15

Prepare comparative income statements for the three inventory cost flow methods of FIFO, LIFO and weighted average.
Daigle Corp. sold 6,400 units of its product at $45 per unit in year 2015 and incurred operating expenses of $6 per unit in selling them. It began the year with 600 units in inventory and the... more
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Accounting

11/19/15

i would to know the answer for this question?
Douglas pays Selena $45,000 for her 30% interest in a partnership with total net assets of $125,000. Following this transaction, Douglas' capital account should have a credit balance of
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Accounting

11/16/15

Determining Adjustments
Determining Adjustments . At the end of the first three months of operation, Kubose Answering Service, Inc.' s trial balance appears as follows. Kubose has hired an accountant to prepare financial... more
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Accounting Tax Accounting

11/11/15

Please show how you solved
In 2013 and 2014 Andy, who is single owned a vacation home that generated both income and related expenses as listed below. Andy’s only other income is W2 wages of $276,000YEAR  INCOME   Ad Valorem... more
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Accounting Tax Accounting

11/11/15

Please show each step of solving the problem! I need to understand this before tomorrow.
Janie and Steve purchased an apartment building. They are active with respect to this rental. They have losses of $60,000 from the building this year. They have other income as follows:Salaries... more
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Accounting

11/10/15

Accounting
Sold merchandise for $2,500 cash and collected sales tax of $300. The journal entry to record this information would be what?
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11/10/15

favorable or unfavorable
Use the following to answer questions 1-2:Luc, Inc., manufactures a single product. The company uses a standard cost system and hasestablished the following direct material standards for one unit... more
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11/08/15

Compute the number and total cost of the units available for sale in year 2015
Seminole Company began year 2015 with 28,000 units of product in its January 1 inventory costing $16.60 each. It made successive purchases of its product in year 2015 as follows. The company uses a... more
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Accounting

11/05/15

Phantom Profit Using FIFO
In its first month of operation, Kuhlman Company purchased 270 units of inventory for $12, then 370 units for $13, and finally 310 units for $14. At the end of the month, 340 units remained.Compute... more
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Accounting

11/05/15

Capitalizing acquisition costs assignment - help?
Problem 1 —Capitalizing acquisition costs. (5 points)Gibbs Manufacturing Co. was incorporated on 1/2/14 but was unable to begin manufacturing activities until 8/1/14 because new factory facilities... more
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