Brooke Company desires net income of $720,000 when it has $2,000,000

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Get college assignment help at uniessay writers Brooke Company desires net income of $720,000 when it has $2,000,000 of fixed costs and variable costs of 60% of sales. Contribution margin equals

(22) While examining cash receipts information, the accounting department determined the

(22) While examining cash receipts information, the accounting department determined the following information: opening cash balance $204.76, cash on hand $1,526.64, and cash sales per register tape $1,343.70. Prepare the required journal entry based upon the cash count sheet. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Account/Description Debit Credit 1._______________ $__________ 2._______________ $__________ 3._______________ $__________ the options for the blanks 1-3 are Sales revenue, Cash, or Cash over and short. Thank you!!

Question regarding Customer Profitability Analysis Please see attached Excel sheet.

Question regarding Customer Profitability Analysis Please see attached Excel sheet.

Question regarding Traditional Product Costing versus Activity-Based Costing Please see attached

Question regarding Traditional Product Costing versus Activity-Based Costing Please see attached Excel sheet

Help with attatched.

Help with attatched.

Which of the following is a capital asset? (A) The bicycle

Which of the following is a capital asset? (A) The bicycle of a 10-year old child. The child purchased the bicycle with money inherited from an aunt. (B) The tools used by a self-employed carpenter. (C) The lots owned by a company that is in the business of buying and reselling residential building lots. (D) A “mint” set of 1985 coins owned by a coin dealer and that is for sale on his website. (E) None of the above

The Waters Company has a standard costing system. Variable manufacturing overhead

The Waters Company has a standard costing system. Variable manufacturing overhead is assigned to production on the basis of machine hours. The following data are available for July: ·Actual variable manufacturing overhead cost incurred: $45,240 ·Actual machine hours worked: 3,200 ·Variable overhead spending variance: $6,840 unfavorable ·Total variable overhead variance: $9,240 unfavorable The standard number of machine hours allowed for July production is: 1) 3,200 hours. 2) 3,000 hours. 3) 3,400 hours. 4) 4,540 hours. show your work please…….

Thornton Industries purchased a machine for $45,000 and is depreciating it

Thornton Industries purchased a machine for $45,000 and is depreciating it with the straight-line method over a life of 10 years, using a residual value of $3,000. At the beginning of the sixth year, an extraordinary repair was made costing $5,000, the estimated useful life was extended to 13 years, and no change was made to the estimated residual value.

Clark’s Chemical Company received customer deposits on returnable containers in the

Clark’s Chemical Company received customer deposits on returnable containers in the amount of $100,000 during 2009. Twelve percent of the containers were not returned. The deposits are based on the container cost marked up 20%. What is cost of goods sold relative to this forfeiture?

If the sales price per unit is $35, the unit contribution

If the sales price per unit is $35, the unit contribution margin is $7.50, and total fixed expenses are $56,000, what is the breakeven point in units?

What is the entry for the transaction? “Sold merchandise costing S4,500

Get college assignment help at uniessay writers What is the entry for the transaction? “Sold merchandise costing S4,500 for S1,000 cash and S7,000 on open account. A perpetual inventory system is used”

Etiwanda Company’s accountant recorded a debit to Accounts Payable and a

Etiwanda Company’s accountant recorded a debit to Accounts Payable and a credit to Cash. This transaction will ecrease Cash and decrease Accounts Payable B. increase Cash and decrease Accounts Payable C. increase Cash and increase Accounts Payable D. decrease Cash and increase Accounts Payable

AS with other assests, the cost of a bond investment includes

AS with other assests, the cost of a bond investment includes all costs related to the purchase

sue now has $490. how much would she have after 8

sue now has $490. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?

1-If a division is reporting losses, does that necessarily mean that

1-If a division is reporting losses, does that necessarily mean that it should be closed? 2-Was the reallocation of fixed costs across divisions unethical? 3-What should Robert do?

Porto Bay Corporation manufactures and distrbutes leisure clothing. Selected tramsactions completed

Porto Bay Corporation manufactures and distrbutes leisure clothing. Selected tramsactions completed by Porto Bay during the current fiscal year are as follows: Jan 10. Split the common stock 4 for 1 and reduced the par from $100 to $25 per share. After the split, there were 500,000 common shares outstanding. Mar 1. Declared semiannual dividends of $1.20 on 80,000 shares of preferred stock and $0.24 on the 500,000 shares of $25 par common stock to stockholders of record on March 31, payable on April 30. Apr 30. Paid the cash dividends. July 9. Purchased 75,000 shares of the corporation’s own common stock at $26, recording the stock at cost. Aug 29. Sold 40,000 shares of treasury stock at $32, receiving. Sept 1. Declared semiannual dividends of $1.20 on the preferred stock and $0.15 on the common stock (before the stock dividend). In addition, a %1 common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $30. Oct 31. Paid the cash dividends and issued the certificates for the common stock dividend. Instruction: Journalize the transactions.

The outstanding stock of a company is composed of 10,000 shares

The outstanding stock of a company is composed of 10,000 shares of $50 par, cumulative preffered $5 stock and 50,000 shares of no-par common stock. Preferred dividends have been paid every year except for the preceeding year and the current year. If 300,000 is to be distributed as a dividend for the current yearr, what total amount will be distributed to preferred stockholders and common stockholders?

• Many judges in the criminal court system are not only

• Many judges in the criminal court system are not only overworked, but also must contend with the worst of society. How does the role and responsibility of a judge differ in a real-life courtroom as opposed to the mystique portrayed in the movies or on television?

Your department’s account software is extremely outdated and you have included

Your department’s account software is extremely outdated and you have included the purchase of new software int his year’s fiscal budget. You have decided it is time to start looking into purchasing your company’s accounting software have chosen someone in your department to undertake the task. You want to draft a memo for your employee to help guide him/her in the purchasing process. · Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Analyze why each factor is important and the risks of not considering each factor.

BYP9-6. The controller of Ruiz Co. believes that the yearly allowance

BYP9-6. The controller of Ruiz Co. believes that the yearly allowance for doubtful accounts for Ruiz Co. should be 2% of net credit sales. The president of Ruiz Co., nervous that the stockholders might expect the company to sustain its 10% growth rate, suggests that the controller increase the allowance for doubtful accounts to 4%. The president thinks that the lower net income, which reflects a 6% growth rate, will be a more sustainable rate for Ruiz Co. Instructions (a) Who are the stakeholders in this case? (b) Does the president’s request pose an ethical dilemma for the controller? (c) Should the controller be concerned with Ruiz Co.’s growth rate? Explain your answer.

Jack Freeman, a calendar year taxpayer, owns 30 percent of an

Jack Freeman, a calendar year taxpayer, owns 30 percent of an S corporation which closes its books on June 30 each year. On November 30, 2009 and April 30, 2010, the S corporation pays a $40,000 cash dividend and has a taxable income for the year ending June 30, 2010 of $90,000. Jack, on his personal return would report income of:

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