• Q : Annual tax savings....
    Accounting Basics :

    Prepare a letter to Mr. and Mrs. WG in which you compute and explain the annual tax savings that would result from the described plan.

  • Q : Diverse products-service and business portfolio....
    Accounting Basics :

    Your are looking at ways to maximise profits for your company as a whole and as such, you are investigating different ways to measure the performance of individual managers who each have responsibil

  • Q : Determine the annual unit sales volume....
    Accounting Basics :

    Determine the annual unit sales volume at which Candice Company would be indifferent between the two manufacturing methods.

  • Q : Complete portfolio in the risky portfolio....
    Accounting Basics :

    What should be the dollar values of your positions in X and Y respectively if you decide to hold 40% of your complete portfolio in the risky portfolio and 60% in the treasury bills?

  • Q : Transaction before the onset of the new tax provision....
    Accounting Basics :

    In this environment, I would advise my client to complete the transaction before the onset of the new tax provision, and/or possibly seek remedy by seeking a loophole in the tax law that would circu

  • Q : Users of accounting information in businesses....
    Accounting Basics :

    Q1. Who are the users of accounting information in businesses? Describe each user group. Q2. What are the responsibilities of accountants to each user group?

  • Q : Modern definition of accounting....
    Accounting Basics :

    Question 1. Which of the following is the most appropriate and modern definition of accounting?

  • Q : Prepare a new overhead performance report....
    Accounting Basics :

    Prepare a new overhead performance report that will help the production manager assess efficiency and cost control in the milling department.(include both variable and fixed cost in the report)

  • Q : Evaluating the pros and cons of the special promotion....
    Accounting Basics :

    What other factors should management consider in evaluating the pros and cons of the special promotion?

  • Q : Adopting a lock box system....
    Accounting Basics :

    The bank has estimated that use of the system will reduce collection time by two days. Based on the following information, should the lockbox system be adopted?

  • Q : Total exemption amount subject to maximum reduction....
    Accounting Basics :

    Bob and Jane Kelso file a joint tax return. The couple's AGI averages $500,000. Consequently, their total exemption amount is subject to the maximum reduction.

  • Q : Gain from lawsuit settlement....
    Accounting Basics :

    From the data below, calculate operating income for the year ended December 31, 2008. Extraordinary gain from lawsuit settlement, net of tax expense of $26,000 90,000

  • Q : Optimal risky portfolio....
    Accounting Basics :

    You are informed that one of these portfolios is "optimal risky portfolio". Which of these portfolios should be optimal risky portfolio? Explain Why?

  • Q : Performing a variance analysis....
    Accounting Basics :

    Assess the job that Simon did in "managing" the beef purchase by performing a variance analysis. Comment on your findings.

  • Q : Depreciation expense on bottling machine....
    Accounting Basics :

    In the space below, calculate and record the depreciation expense on this bottling machine for 2009.  Show and label your calculations.

  • Q : What is the purpose of sampling....
    Accounting Basics :

    Question 1: What is the purpose of sampling? Question 2: What are some of the concerns and dangers of sampling?

  • Q : Completed-contract accounting....
    Accounting Basics :

    Fill in the correct amounts on the following schedule. For percentage-of-completion accounting and for completed-contract accounting, show the gross profit that should be recorded for 2007, 2008, a

  • Q : Percentage-of-completion method as income recognition....
    Accounting Basics :

    Reese Construction Corporation contracted to construct a building for $1,500,000. Construction began in 2007 and was completed in 2008. Data relating to the contract are summarized below:

  • Q : Budgeted direct labor hours for the year....
    Accounting Basics :

    The budget estimates that 20,000 canopies and 10,000 tents will need to be manufactured for the year. Determine: (a) The total number of budgeted direct labor hours for the year in each department

  • Q : Level of involvement of employees in telework....
    Accounting Basics :

    Problem: Federal agencies have not achieved the level of involvement of employees in telework as required by law.

  • Q : Purposes of inventory valuation....
    Accounting Basics :

    If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount to be used for purposes of inventory valuation is

  • Q : Estimated variable utilities cost per meal....
    Accounting Basics :

    Using the high-low method of analysis, the estimated variable utilities cost per meal served is: Using the high-low method of analysis, the estimated monthly fixed component of utility cost is:

  • Q : Compute the east division roi for last year....
    Accounting Basics :

    Q1. Compute the East division ROI for last year; also compute the ROI as it would appear if the new product line is added. Q2. Would you accept or reject the new product line and explain.

  • Q : Sampling unit for account payable....
    Accounting Basics :

    Problem: What is the sampling unit for account payable if the auditor is verifying the cutoff assertion?

  • Q : Reconciliation for the avisa company....
    Accounting Basics :

    Based on the above information, prepare the November bank reconciliation for the Avisa Company.

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