575 Answered Questions for the topic accounting

Accounting

04/09/15

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

03/30/15

1 Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July
How to prepare journal entryworksheet
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Accounting

03/28/15

LOWER-OF-COST-OR MARKET
Item        QUANTITY ON HAND             UNIT COST                  REPLACEMENT COST(MARKET VALUE R                             25                            $15                                    ... more
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03/25/15

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?
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03/24/15

The incremental is $ What was the opportunity cost of accepting the New England Investments group?
Just need to be shown how to Calculate the incremental profit or loss associated with accepting the New England Investments group.   Finn’s Seafood Restaurant has been approached by New England... more
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03/23/15

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
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Accounting

03/20/15

Accounting help
Hello, I need help with this problem. I am bit confused with the steps for the last question and for finding the weighted average and specific indentification.   PROBLEM:   Montoure Company... more
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03/20/15

Cost Accounting Standard Hours Question Need Help
Hall Company's standards call for 900 direct labor hours to produce 500 units. During May 400 units were produced. The company worked 700 direct labor hours. The standard hours allowed for May's... more
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Accounting

03/15/15

Summarize article for me?
http://www.accountingtoday.com/news/firm-profession/practice-profile-fashionable-accounting-73875-1.html   I need a summary of this article for a college paper. I do not understand it.
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03/12/15

Calculate Cash Disbursments Question Accounting
Answer was 200,156 but I need help with steps as to why :   Foxglove Company, a growing retailer, is preparing its budget for the first half of the year assuming the following for sales in each... more
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03/11/15

fixed manufacturing overhead managerial accounting
I need detailed help with steps on this two-part problem, the answers were C) and B) respectively but I need assistance with steps as to why :   The Hawkins Company uses a standard costing system... more
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03/11/15

Budgeted Purchases Managerial Accounting Question
I need detailed help with steps on how to solve this, and why answer was B) :   Prestwich Company has budgeted production for next month as follows :   Production In Units : 1st Quarter :... more
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03/11/15

Accounting Net Income Question Need Assistance Will Give Best Answer
I need detailed help with steps on how to find answer, and reason why answer is what it is :   Carpon Lumber sells lumber and general building supplies to building contractors in a medium sized... more
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Accounting

03/08/15

Record the collection of half of the balance of $12,740 owed by the customer within the discount period. 2/10 n/30
Record the collection of half of the balance of $12,740 owed by the customer within the discount period. home work assignment answer not in book
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Accounting

03/06/15

Which of the following is NOT an example of applying conservatism in accounting?
Which of the following is NOT an example of applying conservatism in accounting?   A. Recording contingent losses that are probable.   B. Expensing all research and development costs are they... more
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Accounting

03/04/15

Given the information below, what is the company's gross profit?
Given the information below, what is the company's gross profit?   Accounts Receivable $ 50,000 Ending Inventory 100,000 Cost of Goods Sold 250,000 Sales Returns 20.000   A. $250,000.   B.... more
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Accounting

03/04/15

Assuming an acid-test ratio of 1.0, how will the purchase of inventory with cash affect the ratio?
Assuming an acid-test ratio of 1.0, how will the purchase of inventory with cash affect the ratio?   A. Increase the acid-test ratio.   B. No change to the acid-test ratio.   C. Decrease the... more
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Accounting

03/04/15

Horizontal analysis examines trends in a company:
Horizontal analysis examines trends in a company:   A. Over time.   B. Between income statement accounts in the same year.   C. Between balance sheet accounts in the same year.   D. Between... more
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Accounting

03/03/15

Which of the following is an example of vertical analysis?
Which of the following is an example of vertical analysis?   A. Comparing gross profit across companies.   B. Comparing income statement items as a percentage of sales.   C. Comparing debt... more
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Accounting

03/03/15

Which of the following items is reported in the statement of cash flows using the direct method?
Which of the following items is reported in the statement of cash flows using the direct method?   A. Depreciation expense.   B. Gain on sale of an asset.   C. Cash received from... more
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Accounting

03/03/15

Cash flows from investing activities do not include:
Cash flows from investing activities do not include:   A. Proceeds from the sale of land.   B. Proceeds from the issuance of common stock.   C. Proceeds from the sale of marketable... more
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Accounting

03/03/15

Which of the following is an example of a cash inflow from a financing activity?
Which of the following is an example of a cash inflow from a financing activity?   A. Issuance of bonds.   B. Sale of an intangible asset.   C. Receipt of cash dividends.   D. Purchase of... more
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Accounting

03/03/15

Which of the following is added to net income as an adjustment under the indirect method of preparing the statement of cash flows?
Which of the following is added to net income as an adjustment under the indirect method of preparing the statement of cash flows?   A. Salaries payable increase.   B. Gain on the sale of... more
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Accounting

03/02/15

Which of the following transactions would not create a cash flow?
Which of the following transactions would not create a cash flow?   A. The company purchased some of its own stock from a stockholder.   B. Payment of a dividend.   C. The company purchased... more
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Accounting

03/01/15

Treasury Stock:
Treasury Stock:   A. has a normal credit balance.   B. decreases stockholders' equity.   C. is recorded as an investment.   D. increases stockholders' equity.
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