Get college assignment help at uniessay writers Activities and Cost Drivers For each of the following activites, select the most appropriate cost driver. Each cost driver may only be used once. Activities: 1) Pay Vendors 2) Evaluate Vendords 3) Inspect raw materials 4) Plan for purchases of raw materials 5) Packaging 6) Supervision 7) Employee Training 8) Clean Tables 9) Machine Maintenance 10) Move patients to and from surgery Cost Drivers: a) Number of different kinds of raw materials b) Number of classes offered c) Number of tables d) Number of employees e) Number of operating hours f) Number of units of raw materials received g) Number of moves h) Number of vendors i) Number of checks issues j) Number of customer orders
Charlie Co. owns 30% of the voting common stock of Turf Services Inc. Charlie uses the equity method to account for its investment. On January 1, 2011, the balance in the investment account was $624,000. During 2011, Turf Services reported net income of $120,000 and paid dividends of $30,000. What is the balance in the investment account as of December 31, 2011?
On January 1, 2010, Glenville Co. acquired an 80% interest in Acron Corp. for $500,000. There is no active trading market for Acron’s stock. The fair value of Acron’s net assets was $600,000 and Glenville accounts for its interest using the acquisition method. 16. Determine the amount of goodwill to be recognized in this acquisition.
explain the nature and purpose of the reserve for encumbrances account (a) during the year and (b) at year end.
Dear prof, I am sorry for given you not enough information, therefore you could not find the solution. For the truth, this is my homework for income tax, but I got stuck, therefore I would like to search the question on internet to get more information, but I saw this website pop up. I think that accounting is relate to income tax, too. gain, I appology for missing information and that would take your time. this is just a home work discussion in group, so I can have time to finish it this week. Really thanks for your concerning to help! Here is the full question. I think that if you can answer this question, or you can give me a hint to figure out this question, I will pay you more. —————- Teresa wons a condominium in Florida. During the current year, she incurs the following expenses related to the property: Mortgate interest: $10,200 Property taxes: $1,500 Utilities: $800 Maintenance fees: $1,000 Repairs: $600 Depreciation: $5,000 a. For each of the following senarios, indicate whether Terri would treat the condo for income tax purposes as personal use property, a rental, or a vacation home. senario 1. Rental income is $9,000; Rental days are 40 days Personal use days are 10 days. Is the classification: personal, rental, or vacation home? senario 2. Rental income is $9,000 Rental days are 40 days Personal use days are 20 days. Is the classification: personal, rental, or vacation home? senario 3. Rental income is $1,000 Rental days are 12 days Personal use days are 48 days. Is the classification: personal, rental, or vacation home?
On the first of each month, Donna’s employer gives her $500 to cover her work-related car expenses. The employer does not require Donna to report her actual costs. During the year, Donna can substantiate driving 24,000 work-related miles, of which 10,000 were driven during the first half of the year. Which of the following describes the correct tax treatment of Donna’s car expenses and reimbursement? 1) Donna’s employer adds $6,000 to her wages, and Donna deducts $6,000 for AGI and $7,240 as a miscellaneous deduction subject to the 2% AGI rule. 2) Donna’s employer adds $6,000 to her wages and Donna deducts $13,200 as a miscellaneous deduction subject to the 2% AGI rule. 3) Donna is not taxed on the reimbursement and she deducts $7,240 as a miscellaneous itemized deduction subject to the 2% AGI rule. 4) Donna’s employer adds $6,000 to her wages, and Donna deducts $6,000 for AGI And $1,240 as a miscellaneous deduction subject to the 2% AGI rule. 5) Donna is not taxed on the reimbursement and she deducts $13,240 as a miscellaneous deduction subject to the 2% AGI rule
A real estate company borrowed $415,000 to develop some condos. It amortized the loan to pay monthly for 4 years at 7% interest. Find the amount of each monthly payment. THANKS!!
you are evaluating two different machine. The JJ1 costs $290,000, has three year life and has pretax operating costs of $67,000 per year. The JJ2 costs $510,000, has five year life and has pretax operating costs of $35000 per year. for both Machine use straight line depreciation to zero over the projects life and assume a salvage value of $40,000. if your tax rate is 35 percent and your discount rate is 10 percent , compute the EAC fo both machines
24. (1 point) Nenn Co.’s allowance for uncollectible accounts was $95,000 at the end of 2010 and $90,000 at the end of 2009. For the year ended December 31, 2010, Nenn reported bad debt expense of $13,000 in its income statement. What amount of write-offs did Nenn record during 2010?
Kiser Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 125 $5 $625 June 12 Purchase 375 6 2,250 June 23 Purchase 500 7 3,500 June 30 Inventory 200 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 430 units occurred on June 15 for a selling price of $8 and a sale of 370 units on June 27 for $9. (Note: For the average-cost method, round unit cost to three decimal places, e.g. 5.275. Round all answers to 0 decimal places, e.g. 1,514.) FIFO LIFO Moving Average Ending Inventory $ $ $ Cost of goods sold $ $ $
Get college assignment help at uniessay writers Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2009: Received in January 2009 rent that was due in December 2008—–$5,000 Received in December 2009 rent not due until January…$4,000 Security deposit which is to be refunded when tenant vacates the apartment…..$500 How much rental income must Billy Dent include on his 2009 income tax return?
A dealer in government securities is considering buying $875,000,000 in 10-year U.S. Treasury notes and $1,425,000,000 in one-year U.S. Treasury bills. Current yields on the T-notes average 7.15 percent, while one-year T-bills yield average 3.28 percent. The dealer can currently borrow $2,300,000,000 through one-year repurchase agreements at an interest rate of 3.20 percent. Compute the dealer’s expected carry income for one year in each of the following two scenarios. A. The dealer purchases the T-notes and T-bills and finances them with the RP under the terms listed above.
I need to complete the following requirements: 1. What are the appropriate criteria for the grouping of long-lived assets to be held and used for impairment testing purposes? 2. On the basis of the information in A2 Auto’s 2006 Form 10-K, what is the appropriate grouping for purposes of recognizing and measuring an impairment loss? Attached is the assignment. Please help.
Juan Ortiz is unable to reconcile the bank balance at January 31. Juan’s reconciliation is shown here. (Round all answers to 2 decimal places, e.g. 12.25.) Cash balance per bank $4,154.88 Add: NSF check 581.92 Less: Bank service charge 36.87 Adjusted balance per bank $4,699.93 Cash balance per books $4,469.88 Less: Deposits in transit 578.13 Add: Outstanding checks 881.92 Adjusted balance per books $4,773.67 (a) What is the proper adjusted cash balance per bank? (b) What is the proper adjusted cash balance per books? (c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. Date: Description/Account Debit Credit Jan. 31 1.__________________ $__________ 2.__________________ $__________ Jan. 31 3.__________________ $__________ 4.__________________ $__________ options for (c.) are Cash, Accounts receivable, or Miscellaneous expense. Thank you so much for your help!!!
All products go through a series of phases called the product life cycle. The product life cycle has a direct impact on a company’s cash flows. 1. Summarize the four phases (in order of their occurrence) in the product life cycle. 2. For each of the four phases, explain the impact of the cycle on a company’s cash flow.
Bigelow Industries manufactures swim caps. Their operating leverage is 3. Each cap sells for $10 and has a contribution margin of $6. They expect to sell 37,500 swim caps. Their fixed costs are: A. $55,000 B. $75,000 C.$112,500 D. $150,000
Break-even analysis assumes that: A. Total revenue is constant B. Unit variable cost is constant C. Unit fixed cost is constant D. All of the above
what characteristic of expenditure distinguish them from expenses in the financial accounting sense?
explain the net revenue approach to revenue recongnition employed in general fund and special revenue fund (and other governmental fund) accounting and reporting, including why it is used.
EFU, an insurance company, wants to plan a new service to its policy holders. During the meeting of executives, CEO offered a plan of house insurance. The summary of estimated cash flows which were discussed in that meeting is: •This project will need Rs.05 million as initial investment •In the first year company will receive Rs.02 million as premium from the policy holders. •In second year, company expect to receive Rs.2.5 millions as premium •In third year company estimated that it will have to receive only Rs. 01 million because there will be a earth quack in that period, as probability of having earth quack is more than 80% as predicted by geologists. •In the fourth year the company estimated to get Rs.1.5 million after clearing the insurance claims of the policy holders. •In fifth year they expect to receive only Rs. 0.5 million Calculate the IRR of above mentioned plan by trail and error method?
Discuss the concept of working capital what shall be the repercussions if the firm has a) Shortage of working capital b) Excess of working capital
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