• Q : Determine amount to be recognized as depreciation expense....
    Accounting Basics :

    Determine the amount to be recognized as depreciation expense in Year 2 related to this building.

  • Q : What is the price variance-quantity variance....
    Accounting Basics :

    The standard cost of product X includes 2 units of direct materials @ $6/unit. During october, the company bough 29,000 units of materials @ $6.20/unit and used those materials to produce 15,000 uni

  • Q : Amount of interest expense reported....
    Accounting Basics :

    Calculate the amount of interest expense reported on Digital's 2004 income statement related to this lease. Enter your answer with two places after the decimal point (i.e., $12,345.67).

  • Q : Problem regarding cash outflow from operating activities....
    Accounting Basics :

    In its 2006 statement of cash flows, ABC Company reported a cash outflow from operating activities of $32,086 related to this lease.

  • Q : Inventory and cost of goods sold figures....
    Accounting Basics :

    Due to ineffective controls while counting its inventory, Walker & Comer, inc., double-counted $50,000 of inventory at the end of the current year. Before discovering this error, the company's e

  • Q : Consolidation worksheet entry....
    Accounting Basics :

    When a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolida

  • Q : How much cash was paid for income taxes....
    Accounting Basics :

    The deferred tax liabilty classified as non current that resulted from the use of MACRS for tax purposes and SL deprec for financial rpeorting purposes, increased from $40,000 at the beg of the year

  • Q : Identify at least three other organizations....
    Accounting Basics :

    Identify at least three other organizations that influence the setting of generally accepted accounting principles (GAAP)

  • Q : Prepare journal entries to record issuance of the stock....
    Accounting Basics :

    Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31

  • Q : Prepare the entry to record any unrealized holding gain....
    Accounting Basics :

    Prepare the entry to record any unrealized holding gain or loss. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)  

  • Q : Journal entries to record these transactions....
    Accounting Basics :

    Prepare the April 18 and May 30 journal entries to record these transactions.

  • Q : Balance in the cash account....
    Accounting Basics :

    On October 31, a company's Cash account had a normal balance of $7,000. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What was the balance in the

  • Q : Prepare entries to record the acquisition and sale of shares....
    Accounting Basics :

    As a long-term investment. On August 5, 2012, Alexis sold one-half of these shares for $475,000. What valuation method should be used to account for this stock investment? Prepare entries to record

  • Q : Prepare a general fund balance sheet as of june 30, 2012....
    Accounting Basics :

    The information that is being presented to you pertains to the transactions for the city of Middleville for the fiscal year ended June 30, 2012.

  • Q : Tansactions relating to long-term investments....
    Accounting Basics :

    What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Park report on its December 31,2011m income statement?

  • Q : Calculate the variable costs-fixed costs....
    Accounting Basics :

    a. Calculate the variable costs, fixed costs, and mixed costs incurred during October. b. Use the high-low method to calculate the cost formula for mixed costs.

  • Q : What is the current growth rate in the economy....
    Accounting Basics :

    Companies prepare budgets based on absorption and/or variable costing. Due to lack of information, we're limiting our budgeting to the absorption approach. Don't forget that the presentation of the

  • Q : Determine the amount transferred to the finished goods....
    Accounting Basics :

    Sand applied overhead based on direct labor cost. Actual production required an overhead cost of $280,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed. What am

  • Q : Reporting of the investment and income account....
    Accounting Basics :

    Compare and contrast the Equity Method, Initial Value Method, and the Partial Equity Method. What are the differences? How do those differences affect reporting of the investment and income account?

  • Q : Determine the unrealized holding gain or loss on the note....
    Accounting Basics :

    Shonen Knife Corporation has elected to use the fair value option for one of its notes payable. The note was issued at an effective rate of 11% and has a carrying value of $16,000. At year-end, Shon

  • Q : Journalize the entries to record the admission of adam....
    Accounting Basics :

    In addition, because of Adam's outstanding sales skills, the partners agree to increase his interest to 40% if he invests another $10,000. The income-sharing ratio of Kala, Leah, and Adam is 4:3:1.

  • Q : How many units were started during april....
    Accounting Basics :

    Barrett Corporation had 6,500 units of work in process on April 1. During April, 19,100 units were completed and as of April 30, 5,100 units remained in production. How many units were started durin

  • Q : Total cost function and total cost for the month....
    Accounting Basics :

    Custom Computers is a company started by two engineering students to assemble and market personal computers to faculty and students. The company operates out of the garage of one of the students' ho

  • Q : What would be the company roi....
    Accounting Basics :

    The entrepreneur who founded the company is convinced that sales will increase next year by 150% and that net operating income will increase by 400%, with no increase in average operating assets. Wh

  • Q : What is the new break-even....
    Accounting Basics :

    At what volume was the old break-even and what is the new break-even? In order to make the same profit how many more packages needs to be produced?

©TutorsGlobe All rights reserved 2022-2023.