Tonia B.

You are consulting for a local organic soap company. Each bar of soap sells for $8, and the variable cost to produce each bar is $3. The company has fixed monthly costs of $5,000 (for rent,... more

1: What types of people or organizations are interested in financial information about a firm, and why are they interested in this information?2: What is the function of the Securities and Exchange... more

Why is Accounting called the "language of business"?

Basis per share:Original basis- 500 sharesNumber of splits- The 500 shares split multiple times, resulting in 24,000 shares.Implied basis per share- $450,000 (total basis) / 24,000 (total... more

One of the hardest concepts for new Accountants to grasp is the difference between cash based accounting and accrual accounting.

Periodic inventory using FIFO, LIFO, and weighted average cost methodsThe units of an item available for sale during the year were as follows: DateLine Item DescriptionUnitsCost per... more

Perpetual inventory using LIFOBeginning inventory, purchases, and sales for Item 88-HX are as follows: DateLine Item DescriptionValue July 1 Inventory 82 units @ $30 July 8 Sale 66 units July... more

eBookShow Me HowQuestion Content AreaPeriodic inventory using FIFO, LIFO, and weighted average cost methodsThe units of an item available for sale during the year were as follows: DateLine Item... more

Teana Corporation uses machine hours as its denominator activity for fixed manufacturing overhead. For the most recent year, the company showed the following data: At the beginning of the year... more