• Q : Increasing revenue to make the ad campaign attractive....
    Accounting Basics :

    By what percentage would sales revenue need to increase to make the ad campaign as attractive as the ordering center?

  • Q : Prepare the journal entry to record the impairment....
    Accounting Basics :

    Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2011 for $16,100,000 and had an estimated useful life of 8 years with no salvage val

  • Q : Explain decision to sell units of same part to another....
    Accounting Basics :

    Spalding Corporation has offered to sell 5,000 units of the same part to Birch Company for$15 a unit. Assuming no other use for the facilities, Birch Company should?

  • Q : Prepare a statement of retained earnings for the year....
    Accounting Basics :

    Landon Corporation was organized on January 2, 2010, with the investment of $100,000 by each of its two stockholders. Net income for its first year of business was $85,200.

  • Q : Collections on annuity contract he purchased from great life....
    Accounting Basics :

    The cost of the annuity was $46,800, and Cecil was expected to receive a total of 260 monthly payments of $450. Cecil has received 22 payments through 2013.

  • Q : Estimate the total manufacturing overhead....
    Accounting Basics :

    Question: Suppose the company had used both of the above **costrelationships** to estimate the total manufacturing overhead for the months of February and March. By what amounts would the company ha

  • Q : Calculate the target cost necessary....
    Accounting Basics :

    Radar Inc. has developed a new and improved widget.The company plans to sell the product through an existing Web site. Radar's marketing department believes the product will sell for $49.

  • Q : What is the companys cost of goods sold....
    Accounting Basics :

    Incurred labor costs as follows: (a) direct, $61,500 and (b) indirect, $15,800.Other manufacturing overhead was $118,000, excluding indirect labor.

  • Q : Prepare a comparative income statement....
    Accounting Basics :

    Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base year. Use the minus sign to indicate a decrease in the "Difference " columns.

  • Q : Independent situations....
    Accounting Basics :

    For each of the following independent situations, determine, (a) whether the bonds sold at face (maturity) value, at a premium (more than face value), or at a discount (less than face value),and (b)

  • Q : How does lifo affect income....
    Accounting Basics :

    How does LIFO affect income if prices increase, decrease, or remain the same?

  • Q : Determine the rate earned on total assets....
    Accounting Basics :

    Determine the rate earned on total assets, the rate earned on stockholders' equity, and the rate earned on common stockholders' equity for the years 2011 and 2012.

  • Q : Amount of raw materials purchased equaled the amount....
    Accounting Basics :

    Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $400,000. Selling and administrative expenses

  • Q : Calculate the amount of total liabilities....
    Accounting Basics :

    Calculate the amount of total liabilities that ABC Company would report in its December 31, 2013 balance sheet after all the above transactions are recorded and all necessary adjusting entries are ma

  • Q : The inventory turnover....
    Accounting Basics :

    Corporal Inc. and Admiral Company compete with each other in the personal computer market. Corporal's primary strategy is to assemble computers to customer orders, rather than for inventory.

  • Q : Determining a suitable overhead cost rate....
    Accounting Basics :

    Which of the following is/are conditions to be met in determining a suitable overhead cost rate?

  • Q : Compute percentage change when possible....
    Accounting Basics :

    Selected information from a finanacial statement for two years. Compute the percentage change from 2006 to 2007 when possible and round to the nearest whole percentage.

  • Q : Number of times bond interest....
    Accounting Basics :

    Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent.

  • Q : Calculate the payback period....
    Accounting Basics :

    Calculate the Payback Period for each project. Calculate the Net Present Value (NPV) of each project.

  • Q : What is labor efficiency variance for the month....
    Accounting Basics :

    This resulted in production of 4800 toothpick motors for may. What is labor efficiency variance for the month of may?

  • Q : Materials price variance for the month....
    Accounting Basics :

    What is the materials price variance for the month?

  • Q : Determine when cash is collected from customers....
    Accounting Basics :

    Fletcher, Inc. reported an ending notes payable balance of $57,000. An examination of the notes payable t-account revealed debits of $25,000 and credits of $39,000 during the year.

  • Q : Determine a cost function for wacky....
    Accounting Basics :

    Wacky Bird Company, a producer of fine quality clocks, produced 5,000 clocks at a cost of $1,150,000 in July. In August, the company produced 3,000 clocks at a cost of $900,000.

  • Q : Direct method and overhead rates....
    Accounting Basics :

    Delille Company manufactures both traditional toothpaste and gel tooth paste, with each type of tooth paste produced in separated epartments. Three support departments support the productiondepartme

  • Q : Create supporting schedule that accompany the cash flows....
    Accounting Basics :

    Prepare the supporting schedule that should accompany the statement of cash flows in order to disclose the noncash aspects of the company's investing and financing activites.

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