• Q : Annual taxable income....
    Accounting Basics :

    A corporation with $7 million in annual taxable income is considering two alternatives:

  • Q : Meaning of accrual basis of accounting....
    Accounting Basics :

    I want to know well about the United States Of America accounting system, here is my concern: why "accrual" accounting is the best practice and why it should be used, what could be the possibly chan

  • Q : Bundle and mixed pricing....
    Accounting Basics :

    Soma cable has a educational channel and a music video channel. The viewing audience consists of two segments (A and B). Below shows the segment sizes, their RP's for each channel:

  • Q : Consumption of two goods and related taxes....
    Accounting Basics :

    Problem: The given figure shows that a tax on clothing can reduce the price of food. Suppose that after the tax on clothing consumption is imposed, another tax is levied on the consumption of food.

  • Q : Amounts of capital-labor employed to maximize output....
    Accounting Basics :

    Question 1. What relative amounts of capital and labor will be employed to maximize output?

  • Q : Calendar for product pricing....
    Accounting Basics :

    The painful process of setting a price for this fundraiser is underway. Printing, material costs, and labor costs have been determined. The size of the market for the calendar is questionable. Conce

  • Q : Cmpare fierce advertising campaign-quoting unbeatable price....
    Accounting Basics :

    Must compare my price structure to the other two numerically, algebraically, and graphically. Must compare a fierce advertising campaign, quoting unbeatable prices for trips in this range while min

  • Q : What are the monthly payments....
    Accounting Basics :

    Question: Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years. (a) What are the monthly payments?

  • Q : Finding the end-of-year book value....
    Accounting Basics :

    A new minivan was purchased for $24,400 and currently has an end-of-year book value of $20,080 after one year of operation. Find the year's rate of depreciation. What will be the end-of-year book va

  • Q : Calculating a sinking fund....
    Accounting Basics :

    A Corporation issues 15,000,000 bonds in to be retired in 20 years. How much must be paid into a sinking fund up front at 4% compounded annually to pay off the total amount due?

  • Q : Calculating forecast using a trend adjusted smoothing....
    Accounting Basics :

    What is the forecast for this year using trend adjusted (double) smoothing with alpha(1) = 0.3 and alpha(2) = 0.2, if the forecast for last year was 310, the forecast for two years ago was 430, and

  • Q : Preparation of annual adjusting entries....
    Accounting Basics :

    A review of the ledger of Greenberg Company at December 31, 2002, produces the following data pertaining to the preparation of annual adjusting entries.

  • Q : Prepare the adjusting entries for particular month....
    Accounting Basics :

    Prepare the adjusting entries on January 31. Account titles are: Accumulated Depreciation, Dental Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest

  • Q : Preparing a trial balance....
    Accounting Basics :

    (a) Journalize and post the July transactions. Use page J1 for the journal and the three-column form of account. (b) Prepare a trial balance at July 31 on a worksheet

  • Q : Lifo and fifo inventory accounting methods....
    Accounting Basics :

    Consider the LIFO and FIFO inventory accounting methods. If the business was in a period of increasing costs for its inventory which method would you recommend to management and why?

  • Q : Internal control procedures-incoming merchandise....
    Accounting Basics :

    Problem: What internal control procedures would you establish regarding incoming merchandise and the related bills from the suppliers?

  • Q : Dollar value of the ending inventory....
    Accounting Basics :

    Assume that the company uses the average cost method. What is the dollar value of the ending inventory on November 30?

  • Q : Journalizing and posting transactions....
    Accounting Basics :

    The given errors were made in journalizing and posting transactions in May in the Unruh Company. 1. An $800 payment for repairs incurred on account and properly recorded in April was debited to Repa

  • Q : Perpetual inventory system-general journal entries....
    Accounting Basics :

    Prepare the necessary general journal entries for the month of October for the Dolan Company for each situation given below. Dolan uses a perpetual inventory system.

  • Q : Prepare the end of the period closing entries....
    Accounting Basics :

    Prepare the end of the period closing entries for the Falcon Cleaners and Laundry. You may omit journal entry explanations.

  • Q : Amount received credited to the unearned rent account....
    Accounting Basics :

    On January 1, 2000, a tenant in an apartment building owned by Marx Company paid $4,500 which represents six months' rent in advance. The amount received was credited to the Unearned Rent account

  • Q : Evaluating the firms ability....
    Accounting Basics :

    Question: The purpose fo the cuttent ratio is to evaluate the firm's ability to:

  • Q : Selling price for the bonds in the market....
    Accounting Basics :

    Problem: The $1,000 face value bonds issued by the Springfield Fabrication Corporation are perceived by investors as being less attractive than other bonds sold by other businesses ate the same time

  • Q : Invest in the stock market....
    Accounting Basics :

    Problem: Eric's credit card charges Eric 16% interest. His bank is offering him 5% interest on a savings account. The first thing Eric should do with any extra money he may have is to: a. Invest in

  • Q : Monthly cost of producing x statues....
    Accounting Basics :

    Crystal Images is a manufacturer of collectible statues. The price per statue at which x statues can be sold in a month is given by p(x)= 655 - 10x dollars. The monthly cost of producing x statues i

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