• Q : What would be the effect on the net pension liability....
    Accounting Basics :

    .JL Health Services reported a net loss-AOCI in last year's balance sheet. This year, the company revised its estimate of future salary levels causing its PBO estimate to decline by $24. Also

  • Q : Transaction reported on the statement of cash flows....
    Accounting Basics :

    A corporation issued $200,000 of common stock in exchange for $200,000 of fixed assets. Where would this transaction be reported on the Statement of Cash Flows?

  • Q : What was woody''s pretax accounting income....
    Accounting Basics :

    Assuming no other differences between tax and accounting income, what was Woody's pretax accounting income ?

  • Q : Estmated present value of your lifetime pension annuity....
    Accounting Basics :

    What is your estmated present value of your lifetime pension annuity in today' s dollars? (hint-pv of an annuity starting at retirement age and then pv of that annuity in today's $s.

  • Q : Direct matrials and conversion cost....
    Accounting Basics :

     Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct matrials and conversion cost.

  • Q : What is the weakest point in this network....
    Accounting Basics :

    What is the weakest point in this network on which forensic investigators should concentrate their efforts for determining whether money laundering is occurring?

  • Q : How will the corporation identify the distributions....
    Accounting Basics :

    A-corp distributed $10,000 cash to John, its sole Class A common stockholder in May, 2009. It also made a $10,000 cash distribution to Bill, its sole Class B common stockholder in December, 2009. Th

  • Q : Determine john income tax liability....
    Accounting Basics :

    He also paid $14,000 in mortgage interest, $1,800 in property taxes, $300 of credit card interest, and $1400 in job hunting expenses when he tried to change jobs in March. Determine John's income ta

  • Q : Determine the capitalized cost of the equipment....
    Accounting Basics :

    Mad Hatter Enterprises purchased new equipment for $365,000, FOB shipping point. Other costs connected with the purchase were as follows:

  • Q : What would be mike''s tax on the capital transaction....
    Accounting Basics :

    What would be Mike's tax on the capital transaction if his taxable income before the capital transactions are taken into account is $20,000?

  • Q : Beginning-of-the-year basis in partnership interest problem....
    Accounting Basics :

    Mary is a 20% partner the Partnership and receives no distributions from the partnership during the year. She has a $55,000 basis in her partnership interest at the end of the year after all income/

  • Q : What is its return on total assets....
    Accounting Basics :

    Doherty Corporation had net income of $30,000, net sales of $1,000,000, and average total assets of $500,000. what is Its return on total assets ?

  • Q : Accumulated earnings and profits....
    Accounting Basics :

    A-Corp. distributed $10,000 cash to John, its sole Class A common stockholder in May, 2009. It also made a $10,000 cash distribution to Bill, its sole Class B common stockholder in December, 2009. T

  • Q : Problem based on nondiscriminatory basis....
    Accounting Basics :

    John is 42 years old. His employer provides him with $300,000 of group term life insurance as a fringe benefit. The policy costs his employer $40 per month. For tax purposes, how much income does S

  • Q : What weatherholt should report unamortized bond discount of....
    Accounting Basics :

    Jean Loptein uses the effective-interest method of amortizing bond discount. At the end of the first year, what Weatherholt should report unamortized bond discount of ?

  • Q : Should halpern accept this project....
    Accounting Basics :

    an investment of average operating assets of $200,000. Halpern's required rate of return is 9%. Should Halpern accept this project?

  • Q : How many units must the company produce....
    Accounting Basics :

    Unger Company has 12,000 units in beginning finished goods. If sales are expected to be 60,000 units for the year and Unger desires ending finished goods of 15,000 units, how many units must the com

  • Q : Prepare a memo for your firm''s client files....
    Accounting Basics :

    as he anticipates a distribution from Emerald in the current year. Prepare a memo for your firm's client files describing the results of your research.

  • Q : Variable cost per unit and fixed cost per unit....
    Accounting Basics :

    Paradise Pottery had the following costs in May when production is 800 ceramic pots: materials, $8,700; labor (variable), $2,900; depreciation, $1,100; rent, $900; and other fixed costs, $1,500. The

  • Q : What entry will doane company make upon receiving the note....
    Accounting Basics :

    Doane Company receives a $5,000, 3-month, 6% promissory note from Ray Company in settlement of an open accounts receivable. What entry will Doane Company make upon receiving the note?

  • Q : What was the actual overhead cost....
    Accounting Basics :

    Reeves Company uses a predetermined overhead rate of $6.00 per machine hour. If the predetermined overhead rate was $6 per machine hour, overhead was underapplied by $40,000, and actual machine hour

  • Q : What is the net effect on appraisal costs....
    Accounting Basics :

    What is the net effect on appraisal costs for 20X6, assuming the new receiving method is implemented and that 800,000 material units are received?

  • Q : What is the effect on joe basis for these debts....
    Accounting Basics :

    Ray, Ronnie, and Joe are partners in a limited partnership. Ray and Ronnie, the limited partners, each own 45% of the partnership, and Joe, the general partner, owns the other 10%. The partnership i

  • Q : Goodwill and minority interest....
    Accounting Basics :

    What is the difference between Goodwill and Minority Interest and where do these items appear on the balance sheet?

  • Q : What is the earnings per share of common stock....
    Accounting Basics :

    Dividends on common stock were $2.05 per share and dividends on preferred stock were $1.80 per share. what is the earnings per share of common stock ?

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