575 Answered Questions for the topic accounting

Accounting

11/03/15

Accounting Sales Tax Payable Transactions

You sell merchandise on account to Blair Company for $15,900. The cost of merchandise sold is $7,500. There is a 7% sales tax on the transaction.
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10/29/15

the steps in the accounting cycle for a merchandising company are different from those in the accounting cycle for service enterprise
do you agree or disagree?
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Accounting

10/28/15

Accounting basic
A company purchases equipment for $197,500 on January 1. It has an estimed residual value of $7,600 and an estimated useful life of 9 years. The company uses the straight-line method of... more
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Accounting

10/22/15

ACCOUNTIONG
A company's retained earnings at the beginning of the year is $1 million. It paid $100,000 in dividends, had $250,000 in net income, and its goodwill increased by $10,000. What is its retained... more
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Accounting

10/22/15

ACCOUNTIONG
A company has earnings before income tax of $2 million and a 15% tax rate. It had $250,000 in depreciation expenses with a $50,000 increase in working capital. It had another $100,00 in capital... more
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10/18/15

question is for accounting class, im having trouble with finding the answer
Sales-Related and Purchase-Related TransactionsThe following were selected from among the transactions completed by Wild Adventures Company during December of the current year:Dec. 3. Purchased... more
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Accounting

10/15/15

bonds issued at a discount
Carver Inc. issued a bond on January 1,2011, that had a three-year maturity. The bond had a face amount of 100,000 and contract rate of interest of 12% which is paid annually. The bond's market... more
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Accounting

10/06/15

break even
 Riccardo Food Services Company operates and services soft drink vending machines located in restaurants, gas stations, and factories in four southeastern states.  The machines are rented from the... more
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Accounting Accountancy

07/15/15

Advanced Financial Accounting Premium and Adjustment to Net Income Question
I need detailed help with steps on how to solve : On March 1st, Pimlico Corp (a US based company) , expects to order merchandise from a supplier in Sweden in 3 months. On March 1st, when spot rate... more
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07/07/15

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
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Accounting Accountancy

07/07/15

Advanced Financial Accounting Question Need Help
Problem 1 : Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling. The following exchange rates were in effect during 2011:Jan 1 : 1 pound... more
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Accounting Finance Homework Tips

06/29/15

Finance Question
Company B wants to buy Company A.   Assume that company A has pre-tax cash flows of $5 Billion per year, with no growth expected in the future. In addition, the firm is subject to a 35% corporate... more
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06/28/15

Beginning inventory at cost $9,000, ending inventory at cost $7,000, net sales $50,000, cost of goods sold $46,000. The inventory turnover at cost is
Accounting  questions that I need answered to , can you help me. Beginning inventory at cost $9,000, ending inventory at cost $7,000, net sales $50,000, cost of goods sold $46,000. The inventory... more
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Accounting Fund Accounting

06/26/15

The City of Middleton sells a $2,000,000, 3%, 16-year general obligation bond issue on January 2, 2016 at par.
The bond pays interest semi-annually on July 1 and January 2, with the first principal payment scheduled for January 2, 2017. A city hall annex must be constructed with the bond proceeds. The bond... more
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Accounting

06/07/15

Accounting question
Oxford Engineering manufactures small engines. The engines are sold to manufacturers who install them in such products as lawn mowers. The company currently manufactures all the parts used in these... more
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Accounting

06/07/15

Accounting question
There are three sources of revenue for the concert:Tickets will be sold for $16.00 each.A large multinational corporation headquartered in Chicago will donate $2.50 per ticket sold.Each concert... more
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Accounting

05/26/15

Typically, the only credit to the retained earnings account for a corporation is
 Typically, the only credit to the retained earnings account for a corporation is A. the initial investment of stockholders. B. net income of the period. C. net loss of the period. D. any... more
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Accounting

05/22/15

How much money did the group spend on food?
A group has a beginning total of $31,600.They spend $10,471 on fuel and $460 on a ticket. At the end of the day, they have $3,280 remaining. How much did they spend on food?
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05/15/15

Segment Margin Cost Accounting Question Need Help
Hi, I need detailed help with steps, and how to solve with everything explained:   Hatch Company has two divisions, O and I. During the year just ended, Division O had segment margin of $9,000... more
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04/14/15

Difficult Absorption Costing Question Managerial Accounting
I need detailed help with steps on how to solve : SmoothIt Inc is facing a problem with their 4th quarter absorption costing net operating income on December 23rd. The net operating income target... more
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04/14/15

Absorption Costing Question Managerial Accounting
I need detailed help with steps on how to solve , and guidance as to where each number comes from :   In 2006 Voest's income under absorption costing was $15,000 higher than its income under... more
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Accounting

04/11/15

Phantom profit
In its first month of operation, Kuhlman Company purchased 180 units of inventory for $5, then 280 units for $6, and finally 220 units for $7. At the end of the month, 240 units remained.Compute... more
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Accounting

04/11/15

Low cost or market value
Sadowski Video Center accumulates the following cost and market data at December 31.Inventory Categories                      Cost Data               Market DataCameras                            ... more
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Accounting

04/09/15

Lower cost or market value
Sadowski Video Center accumulates the following cost and market data at December 31.Inventory Categories               Cost Data            Market Data Cameras                                ... more
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Accounting

04/09/15

accounting question:
Cash flow statement reported the folowing cash receipts and cash payments (The amount in brackets) for the year ended august 31, 2014: YEAR ENDED AUGUST 31, 2014: cash flows from operating... more
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