• Q : Unfavorable income variance....
    Accounting Basics :

    Prepare as detailed an explanation as possible of the October $72,000 unfavorable income variance

  • Q : Proceeds of a bonus pool in a profit-sharing plan....
    Accounting Basics :

    Four broad approaches to distributing the proceeds of a bonus pool in a profit- sharing plan are listed below: 1. Each person's share is based on salary

  • Q : Employee preference between higher wages and more benefits....
    Accounting Basics :

    Using the theory of consumer behavior, how do you think flexible benefit packages would affect an employee's preference between higher wages and more benefits?

  • Q : Breakeven analysis-direct and indirect costs....
    Accounting Basics :

    After you have completed the breakeven analysis, compute the number of deliveries you will need to make each week to net $250. Please be sure to show your direct and indirect costs.

  • Q : Determine the tax base....
    Accounting Basics :

    (A) Determine the tax base, temporary difference and its related tax consequences for the above items, assuming a tax rate of 15% (B) Prepare related income tax journal entries. (Narratives are not n

  • Q : Calculate the variable overhead spending....
    Accounting Basics :

    Calculate the variable overhead spending and efficiency variance and the fixed overhead spending and volume variances. Indicate whether each is favorable or unfavorable.

  • Q : Retirement plan in your place of employment....
    Accounting Basics :

    Question 1: What is the retirement plan in your place of employment? Question 2: Do you think this is an advantageous and beneficial plan to the employees?

  • Q : Applying the equity method in an investment....
    Accounting Basics :

    When would an investor discontinue applying the equity method in an investment? Are there any exceptions to this rule?

  • Q : Proposal violating the ima code of ethics....
    Accounting Basics :

    Which, if any, of the accountants making a proposal are violating the IMA's code of ethics? What is (are) the violation(s)'?

  • Q : Conversions using the book value method....
    Accounting Basics :

    Make the necessary journal entries for: (a) December 31, 2008. (c) March 31, 2009. (b) January 1, 2009. (d) June 30, 2009. Record the conversions using the book value method.

  • Q : Compute basis in pine corporation for 4 shareholders....
    Accounting Basics :

    Problem: Sam, Carl, Lucy and Sulvia form Pine Corporation with the Following considerations: Assume the value of each share of Pine corporatin stock is $3,000. As to these tansctions, provide the fol

  • Q : Various types of consumption taxes....
    Accounting Basics :

    Question 1: What are the various types of consumption taxes? What are the justifications for each type. Question 2: Why are general sales taxes and excise taxes on liquor and tobacco often regressive?

  • Q : Critical path analysis....
    Accounting Basics :

    Scope is indeed important; as is the need sometimes to change it...happens all the time! Question: Does this  mean the Critical Path Analysis (CPA) can change during the lifetime of a project?

  • Q : What do you learn about naa financial....
    Accounting Basics :

    Pay close attention to the bulleted section. 1. What do you learn about NAA Financial? 2. Who is Michel (Mitchell) Axiall?

  • Q : Portion of total revenue....
    Accounting Basics :

    1. Which segments are separately reportable. 2. Do the separately reportable segments include a sufficient portion of total revenue? Explain.

  • Q : Advantages-disadvantages to a company receiving a bailout....
    Accounting Basics :

    The US government recently bailed out several companies by making investment in their preferred shares. What are the advantages or disadvantages to the company?

  • Q : Determine the amount of the ubit....
    Accounting Basics :

    AIDS, Inc., an exempt charitable organization that provides support for individuals with AIDS, operates a retail medical supply store open to the general public. The net income of the store, before

  • Q : Abnormal financial conditions....
    Accounting Basics :

    The prescribed tests because of abnormal financial conditions. The other three segments qualified for reporting. For 2008, how should Segment B?

  • Q : Preparing the adjusting journal entry....
    Accounting Basics :

    Derm Travel Agency accepted a four-month, 9% interest rate, $2,000 note from one of its customers on May 1, 2008. The entire balance is payable at the note's maturity. Prepare the May 31 adjusting j

  • Q : Cost estimation equation for manufacturing overhead cost....
    Accounting Basics :

    (1) Use the information from the regression analysis to write the cost estimation equation for the manufacturing overhead costs. (2) Compute the estimated manufacturing overhead costs per month for

  • Q : Organizing a business as a partnership....
    Accounting Basics :

    What are the advantages and disadvantages of organizing a business as a partnership? Compare and contrast a general partnership and a limited partnership. Under what circumstances might you set up a

  • Q : Computing the predetermined overhead rate....
    Accounting Basics :

    Required: Compute the predetermined overhead rate, assuming Loin Cabinetry uses: (a) Direct labor hours to allocate overhead costs (b) Direct labor costs to allocate overhead costs

  • Q : Prepare an incremental analysis....
    Accounting Basics :

    If Gruner accepts the offer, its fixed overhead will increase from $39,592 to $44,222 due to the purchase of a new imprinting machine. No sales commission will result from the special order. Prepare

  • Q : Appropriate controls for accounts payable....
    Accounting Basics :

    Problem: Explain appropriate controls for accounts payable. Do not just list internal controls explain appropriate controls for accounts payable based on the Apollo Shoes case.

  • Q : Trade or business for federal income tax....
    Accounting Basics :

    I sell handcrafted jewelry which earned me $20,000 last year. Do my business activities constitute a trade or business for federal income tax purposes?

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