Questions on Operating and Financial Budget

Questions on Operating and Financial Budget in $15

E22-24 Preparing an operating budget

Dunbar Company manufactures drinking glasses. One unit is a package of 8 glasses, which sells for $20. Dunbar projects sales for April will be 3,000 packages, with sales increasing by 100 packages per month for May, June, and July. On April 1, Dunbar has 250 packages on hand but desires to maintain an ending inventory of 10% of the next month’s sales. Prepare a sales budget and a production budget for Dunbar for April, May, and June.

E22-27 Preparing a  budget

Cramer Company projects the following sales for the first three months of the year: $12,500 in January; $13,240 in February; and $14,600 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar.

Management Accounting Case Report Assignment 2015

Management Accounting Case Report Assignment 2015 in $17 only (Instant Download)

Having impressed the Board of Directors with the analysis that you prepared for Maureen Pistana, the Chief Financial Officer at Greenwood Industries, you have been invited to be present at the next senior managers’ meeting. Before you attended the meeting, Maureen spoke to you. “Be careful with what you promise them in the meeting as you will be held accountable for that. Don’t go promising to do things that you cannot, otherwise I won’t be able to back you up. Trust me, your first analysis is not going to save you if you take on too much and stuff-up here!”
All the divisional managers were present at the meeting and these included Michael Fowler (Birchtree: electronic medical products), Gordon Stapleton (Pinetree: video cameras), Shirley Robson (Oaktree: large screen TVs), Alice Nguyen (Cedartree: kitchen accessories) and Vijay Chandra (Gumtree: sound systems). Additionally, the CEO, Charles Kim, was present along with Maureen. This made for a very large and noisy meeting.

ACCT 304 Week 4 Midterm

ACCT 304 Week 4 Midterm

1. (TCO 1) Which of the following has the authority to set accounting standards in the United States?

2. (TCO 2) The conceptual framework’s qualitative characteristic of faithful representation includes:

3. (TCO 3) A sale on account would be recorded by:

4. (TCO 3) When a tenant makes an end-of-period adjusting entry credit to the “Prepaid rent” account:

5. (TCO 3) Permanent accounts would not include:

ACC 300 Entire Course 2015

ACC 300 Entire Course 2015 

ACC300 Entire Course 2015

ACC/300 Complete Course 2015

Following files are available with the answer:

  1. Week 2 – Accounting Equation Paper (500 Words)
  2. Week 3 – P1-3A and P3-5A Solutions
  3. Week 3 – Accounting Terms Paper and P4-2A Solutions
  4. Week 4 – P2-6A and P13-2A Solutions
  5. Week 5 – Publicly Traded Corporation Paper
  6. Week 5 – PE-2, E7-5, E7-6 and E7-9 Solutions
  7. Week 5 Final Exam Answer Guide – 30 Questions

Price of Answer: Just US$16 only (Instant Download)

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Capital Budgeting/ Cost of Capital

Capital Budgeting/ Cost of Capital in $14

Shell Solar Water Inc. (SSI) is a market leader in the production and distribution of solar water heating systems throughout the OECS.The company is considering establishing a production plant on the island of Grand Cayman to decrease the cost of its operations. SSI had already purchased some land two years ago for $1,500,000 on which it plans to build its new plant which costs $4,000,000 to house its manufacturing business.The legal fee attached to this purchase was $120,000 and the company believes it can recover this cost through the sales of its systems which it expects to be more than what it currently enjoys.The company uses a CCA rate of 8 percent for the amortizing of its plant which can be scrapped for $780,000 at the end of the project life.

Breakeven Analysis

AC 325 Budgeting Project $12 onlygallery-thumbnails

According to the course syllabus, this project will count as 30% of your grade. The project is to be completed as follows:

1) The project must be completed using Excel or similar electronic spreadsheet software. Your cell formulas must be turned in with the project itself. That is, you may print out the project but you must also turn an excel file with your spreadsheets on it. (i.e. do not just type the project in Word). The goal is to prepare the budget and then reference certain totals and line items to the flexible budget and the performance report.

2) Good form and readability is important. You are the accounting manager of the Company so your work should be professional and complete as well as accurate.

Brand Management

Brand Management in $7 only

Your task is to present a detailed analysis of the branding strategy for the following brand:

Disney

The questions / statements below will guide each section of your report. Make sure that in addressing the issues below you define the terms that you are using and demonstrate an understanding of the theoretical concepts you are
studying.

1. the first step in strategically managing a brand is to identify and establish brand
positioning and values. Comment on how this has been done with your chosen brand and evaluate their
success in positioning this brand.

Financial Accounting Exam 4

Financial Accounting Exam 4 in $8 only

1. Accounts receivable amounted to $215,000 at the beginning of the year and $245,000 at the end of the year. Income reported on the income statement for the year was $300,000. The cash flow from operating activities on the cash flow statement using the indirect method is

A. $315,000.

B. $270,000.

C. $300,000.

D. $330,000.

2. In a common-size income statement, selling expenses are 55%. This means that they’re 55% of…

Accounting Quiz 2 MCQs 2015

Accounting Quiz 2 MCQs 2015 in $11 only (Instant Download)

Multiple choice (5 pts each) 

1) In a good internal control system, which of the following documents are required for proper approval of a payment to a supplier?

a) a journal entry, a supplier invoice, and a description of the goods being purchased

b) a receiving report, an invoice, and a purchase order (Sample  Answer)

c) a purchase order, a journal entry, and a price catalog

d) a supplier invoice, a bill of lading, and the supplier’s financial statements

2) In the following situation, which internal control procedure needs strengthening?

Tulane University Houston Financial Accounting Final Exam (Summer 2015)

Tulane University Houston Financial Accounting Final Exam (Summer 2015) done June 2015 in $19

Presented below is the year-end 2005 balance sheet for The Little Corporation.

During 2006, the company entered into the following events:

1. Sales to customers totaled $2 million, of which $1.6 million were on credit and the remainder was cash sales. The cost of goods sold totaled $800,000.

2. Purchased $700,000 of inventory on credit.

3. Paid $620,000 cash to employees as wages. (This amount includes the wages payable at December 31, 2005.)

4. Collected $1.75 million cash from customers as payment on outstanding accounts receivable.

5. Paid $1.2 million cash to suppliers on outstanding accounts payable.

6. Sold machinery for $120,000 cash on January 1, 2006. The machinery had cost $370,000 and at the time of sale it had a net book value of $160,000.

7. Paid miscellaneous expenses totaling $98,000 cash.

8. Sold common stock for $450,000 cash.

9. Invested $200,000 of excess cash in short-term marketable securities.

10. Declared and paid a cash dividend of $100,000.

As part of the year-end audit, the internal audit staff identified the following additional information:

1. $180,000 of prepaid rent was consumed during the year.

2. The equipment had a useful life of ten years and the machinery of 20 years. The company uses straight-line depreciation. (No depreciation should be recorded for machinery in Item 6 above.)

3. The intangible assets had a remaining useful life of ten years.

4. Interest on the bank loan and bonds payable was ten percent. During the year, interest payments totaling $260,000 had been paid in cash.

Cost Accounting Problem 3-21 – Savallas Company

Cost Accounting Problem 3-21 – Savallas Company in $8 only

Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:

Computer-hours 85,000
Fixed manufacturing overhead cost $ 1,275,000
Variable manufacturing overhead per computer-hour $ 3.00

Cost Accounting Questions Assignment

Cost Accounting Questions Assignment

First two questions use this:

Company produced 2100 units

Standard:

Material 2lbs per unit at 5.80 per lb

Labor 3 direct labor hours per unit at 10 per hour

Actual:

Material 4250lbs purchased and used at 5.65 per lb

Labor 6,600 direct labor hours at 9.75 per hours

1. What is the labor rate variance

A. 1650U

B. 1650F

C. 1575U

D. 1575F

2. What is the labor efficiency variance?

ACC – Toy Box, Inc.,

ACC – Toy Box, Inc., in $8.50 (Instant Download)

Toy Box, Inc., is contemplating expanding sales of their children’s toys. The have an opportunity to stock and sell the X toy that has been a big hit with children everywhere. They must order the X toys from the manufacturer in a minimum order of 100 at a cost of $12 each. They could resell the X toy in their store for $22 each.

Due to anticipated demand, Toy Box, Inc., will need to hire an additional part-time cashier at $600 a month, which will be classified as a fixed-cost attributable to the X toy. In addition, they have offered a $1 sales commission per toy to their floor sales representative. Finally, they will include a package of trading cards with every purchase of an X toy, which will cost them an additional $2 each.

ACC – Eastwood Company’s Balance Sheet

ACC – Eastwood Company’s Balance Sheet

Prepare a balance sheet as of December 31, 2014, so that all important information is fully disclosed.

EASTWOOD COMPANY
ADJUSTED TRIAL BALANCE
31-Dec-14
Debit Credit
Cash $41,000
Accounts Receivable $163,500
Allowance for Doubtful Accounts $8,700
Prepaid Insurance $5,900
Inventory $208,500
Equity Investments (long-term) $339,000
Land $85,000
Construction in Process (building) $124,000
Patents $36,000
Equipment $400,000
Accumulated Depreciation—Equipment $240,000
Discount on Bonds Payable $20,000
Accounts Payable $148,000
Accrued Liabilities $49,200
Notes Payable $94,000
Bonds Payable $200,000
Common Stock $500,000
Paid-in Capital in Excess of Par—Common Stock $45,000
Retained Earnings $138,000
Grand Total $1,422,900 $1,422,900

Additional information:

Accounting Problem 5-1, 5-2, 5-3 and 5-4

Accounting Problem 5-1, 5-2, 5-3 and 5-4 in $14 (Instant Download)

Problem 5-1
Par Corporation acquired its 90 percent interest in Sam Corporation at its book value of $3,600,000 on January 1, 2011, when Sam had capital stock of $3,000,000 and retained earnings of $1,000,000. The December 31, 2011 and 2012, inventories of Par included merchandise acquired from Sam of $300,000 and $400,000, respectively. Sam realizes a gross profit of 40 percent on all merchandise sold. During 2011 and 2012, sales by Sam to Par were $600,000 and $800,000, respectively. Summary adjusted trial balances for Par and Sam at December 31, 2012, follow (in thousands):

Par Sam
Cash 1000 200
Receivables-net 2000 500
Inventories 2400 1000
Plan Assets-net 2500 4800
Investments in Sam-90% 4356 —-
Cost of sales 8000 3900
Other expenses 3400 1600
Dividends 1000 500
24,656 12,500

Required: Prepare a combined consolidated income sand retained earnings statement for Par Corporation and Subsidiary for the year ended December 31,2012.

Problem 5-2
2. Put Corporation acquired a 90 percent interest in Sam Corporation at book value on January 1, 2011.
Intercompany purchases and sales and inventory data for 2011, 2012, and 2013, are as follows:
Sales by sam to put intercompany profit in put’s inventory at December 31
2011 400,000 30,000
2012 300,000 24,000
2013 600,000 48,000

Time Value of Money

Time Value of Money

Time Value of Money, Practical Applications in Business and Personal Decisions

If you have put money in a savings account, made monthly auto or mortgage payments, or paid down your student loan ahead of time you have inherently applied TVM.

  • Discuss how you may have used TVM in a recent investment or loan decision and explain some of the TVM details that may have been involved in your transaction.
  • If you have not used TVM in the past financial transactions explain potential TVM applications you would encounter in future business or personal transactions.

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ACC 205 Week 1 DQ1 Accounting Equation

ACC 205 Week 1 DQ1 Accounting Equation

As you have learned in this week’s readings the Accounting Equation is + Owners’ Equity.  Is the accounting equation true in all instances?  Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.

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ACCT 567 Week 6 Problem 12-4

ACCT 567 Week 6 Problem 12-4

Quad-States Community Service Agency expended federal awards during the most recent fiscal year in the following amounts for the programs shown:

Additional information indicates that Programs 4 and 10 were audited as major programs in each of the two preceding fiscal years, with no audit findings reported.

Required

a. Which programs would be considered Type A programs and why? Type B programs?

b. Based on the information provided, which programs would you select for audit and why?

c. If you found out that a new manager with no previous experience was now in charge of Program 4, would your answer to part b change? If so how?

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