152 Answered Questions for the topic Managerial Accounting

Identify variables ,fixed and simi variables

RevenueFood and beverageCateringConcessionsRoom rental & feesOtherTotal revenueCost of goods soldGross profitOperating exp. :Salaries and wagesFull time salaries (fixed)Part time wages... more

A fixed asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?

 A. $3,500 gain B. $1,000 gain C. $1,000 loss D. $2,500 loss C. $3,500 loss D. $2,500 gain

The total cash collection budget for January

The LaPann Company has obtained the following sales forecast data:July August September OctoberCash sales $80,000 $ 70,000 $ 50,000 $ 60,000Credit sales $240,000 $220,000 $180,000 $200,000The... more

accounting question

On January 1st, 2018, Dr. Marcie Cousins established Health-Wise Medical, a medical practice organized as a proprietorship. The following conversation occurred the following August between Dr.... more

Could you tell me which ones are revenues and which ones is expenses?

Accounts payable $1,200   Miscellaneous expense $490 Accounts receivable 10,340   Office expense 380 Cash 32,320   Supplies 1,670 Fees earned 75,630   Wages... more

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five times antonios age plus 3 times kims age equals 56. kims age is also 3 times antonios age. how old is kim ?

​RyRy, Inc. manufactures dance apparel. Unit sales projections for the first five months of the upcoming year are as​ follows:

Month Unit Sales January 3,500 February ​3,800 March ​3,300 April 5,000 May                       ​5,000 Beginning finished goods inventory consisted of 850 units. The desired... more

​RyRy, Inc. manufactures dance apparel. Unit sales projections for the first five months of the upcoming year are as​ follows:

Month Unit Sales January 3,500 February ​3,800 March ​3,300 April 5,000 May                       ​5,000 Beginning finished goods inventory consisted of 850 units. The desired... more

Why isn't the retained earnings of a public company always distributed back to the shareholders?

Shareholders own a public company, so why shouldn't all of a company's income be distributed back to them? Why are dividends (if any) just a small fraction of a company's retained earnings?

When starting a small business, how does one properly record "seed inventory"?

Let's assume someone wanted to start a small, simple business. They go through all of the paperwork to get an LLC, they set up a business checking account and they are ready to go. Such an... more

What is the meaning of realization in finance?

The definition of "realization" is well defined by multiple sources in accounting terms while we google it. But, can someone explain in terms of real life example that suits the meaning of... more

When does a public company report a balance sheet?

As 31st March is the last day of the financial year in India. I was browsing some data and found that there are many companies that have not reported their balance sheets for 2013-2014. Is there a... more

Generally Accepted Accounting Principles question?

In _QuickBooks 2011 for Dummies_, pg. 24, there are listed several generally accepted accounting principles. I see that **Expense Principle** The *expense principle* states that an expense occurs... more

What can a CPA do that an EA cannot, and vice versa?

A lot of the responsibilities of CPAs and Enrolled Agents appear to overlap, but could someone outline the key differences? When would I choose to hire one versus the other?

Why Present Value and not Future Value?

This is a question in an online finance lesson, and I know what they want for the answer. But I'm not at all a novice at financial matters, so in my mind, I would do this differently. The question... more

Why some companies are reporting loss due to the new US tax law?

From http://uk.businessinsider.com/bank-of-america-fourth-quarter-earnings-q4-2018-1?r=US&IR=T: > Like the other big banks, Bank of America took a hit from the recently > enacted tax... more

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging... more

Should a strategy backtested against three years of tick data continue to produce positive results?

Let's say we have a Binary Options 5-minute trading strategy that relies on multiple indicators and exploits price reversals in currency pairs. Now let's say there is a combination of inputs for... more

What does "write-off" mean?

I've heard this term throughout my life but I've never been entirely sure exactly what it means or why you would want to write something off.

Accounting equation: does income really decrease equity?

I am new to using [double-entry bookkeeping](https://en.wikipedia.org/wiki/Double-entry_bookkeeping_system) for personal finances. [GnuCash](https://en.wikipedia.org/wiki/GnuCash) uses a variant... more

Confusion about Balance sheet equation and sum of the cashflows?

I was solving a business case I had at school where i just needed to compute the cashflows (CF). Once I have done so I wanted to check that my calculations are all good by verifying that the... more

What is the difference between equity and assets?

I am (going to be) using GNU Cash, which uses the double-entry method; I use it for personal finance. Reading various tutorials for GNU cash, it lists 5 types of accounts: income, expense, assets,... more

How to teach personal accounting to an 8-year-old?

I try to teach my 8 year old daughter the basics of finance. She has some her own money (partly in a wallet, partly in a piggy-bank). Some time ago, she threw a short tantrum about "someone... more

Comprehensive tutorial on double-entry personal finance?

Can anyone recommend a comprehensive tutorial on using double-entry accounting to manage personal finances? I've read a few articles that make double-entry seem worth learning, but I'm struggling... more

Assets, Liabilities, Equity?

I am writing a business plan based on some old notes from a master in economics. However I am I bit confused. Can you please confirm the following is right? (above all what's **marked in... more
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