Financial Accounting

1. As discussed in class, which section of the statement of cash flows deals wit

1. As discussed in class, which section of the statement of cash flows deals with the most important source of cash for a business? A. Financing activity on a statement of cash fl…

1. As of December 31, 2000, Dalton Company has $7,240 cash in its checking accou

  1.  As of December 31, 2000, Dalton Company has $7,240 cash in its checking account, as well as several other items listed below: Bank credit card slips signed by customers  $ 9…

1. As of January 1, Year One, the Watkins Company has a projected benefit obliga

1. As of January 1, Year One, the Watkins Company has a projected benefit obligation of $11 million and plan assets of $8 million that have resulted from the company's defined ben…

1. As the management accountant of TAR Ltd, a printing company, you have been as

1. As the management accountant of TAR Ltd, a printing company, you have been asked to prepare a quotation for a large museum that requires a catalogue of its exhibits to be print…

1. As time passes, fixed assets, other than land, lose their capacity to provide

1. As time passes, fixed assets, other than land, lose their capacity to provide useful services. To account for this decrease in usefulness, the cost of fixed assets is systemati…

1. As with all financial decisions, a firm should try to set a capital structure

1. As with all financial decisions, a firm should try to set a capital structure that maximzes the stock price, or shareholder value. This is called the optimal capital strucutre;…

1. Assess this statement: \"Activity-based costing is only useful for manufactur

1. Assess this statement: "Activity-based costing is only useful for manufacturing companies". Do you agree or disagree, why? 2. It is fairly straight forward to combine process c…

1. Asset Acquisition, Cost Allocation and Disposal At the beginning of the year,

1. Asset Acquisition, Cost Allocation and Disposal At the beginning of the year, Chemical Control Corporation bought three used machines from Radial Compression Incorporated. The …

1. Assign overhead costs to the activity cost pools. 2. Calculate the activity r

1. Assign overhead costs to the activity cost pools. 2. Calculate the activity rates for the activity cost pools. 3. Assign overhead costs to each product. Activity-based costing-…

1. Assign the customer-related activity costs to each category of customers in p

1. Assign the customer-related activity costs to each category of customers in proportion to the sales revenue earned by each customer type. Calculate the profitability of each cu…

1. Assume annual demand is 40 units, ordering cost is $5.00, and holding cost is

1. Assume annual demand is 40 units, ordering cost is $5.00, and holding cost is $1.00/unit/year. a)Find EOQ. b)Find total cost. c)Find cycle time. d)Find the number of orders per…

1. Assume that Barber Co. uses the LIFO inventory costing method for both tax an

1. Assume that Barber Co. uses the LIFO inventory costing method for both tax and financial reporting purposes whe balance sheet reports inventories at $297 million. Then, in its …

1. Assume that Cactus Construction Company offers to issue bonds on January 1st

1. Assume that Cactus Construction Company offers to issue bonds on January 1st of next year with a $1,000,000 par value with a 8% annual interest rate (paid annually) and a 5 yea…

1. Assume that a consumer spends all her money on two goods. Given this assumpti

1. Assume that a consumer spends all her money on two goods. Given this assumption, explain the consumer's budget line. How will this consumer reach the equilibrium on an indiffer…

1. Assume that due to a recession, Polaski Company expects to sell only 36,000 R

1. Assume that due to a recession, Polaski Company expects to sell only 36,000 Rets through regular channels next year. A large retail chain has offered to purchase 6,000 Rets if …

1. Assume that in year 1 Hill Corporation reported a net operating loss of $19,2

1. Assume that in year 1 Hill Corporation reported a net operating loss of $19,200 that it carried forward to year 2. In year 1, Hill also reported a net capital loss of $4,250 th…

1. Assume that the Boehm Furniture Company%u2019s chief financial officer gave y

1.            Assume that the Boehm Furniture Company%u2019s chief financial officer gave you the following information: net sales, $2,000,000; cost of goods sold, $1,050,000; ext…

1. Assume that the Boehm Furniture Company%u2019s chief financial officer gave y

1.            Assume that the Boehm Furniture Company%u2019s chief financial officer gave you the following information: net sales, $2,000,000; cost of goods sold, $1,050,000; ext…

1. Assume that the Boehm Furniture Company%u2019s chief financial officer gave y

1.            Assume that the Boehm Furniture Company%u2019s chief financial officer gave you the following information: net sales, $2,000,000; cost of goods sold, $1,050,000; ext…

1. Assume that the United States trades exclusively with Mexico and that the exc

1. Assume that the United States trades exclusively with Mexico and that the exchange rate between the U.S. and the Mexico is flexible. a. Assume that Americans desire more goods …

1. Assume that two individuals agree to form a partnership. Partner A is contrib

1.         Assume that two individuals agree to form a partnership. Partner A is contributing an operating business that reports the following balance sheet: .$ 60,000 Accounts pa…

1. Assume that you are an investment analyst preparing an analysis of an investm

1. Assume that you are an investment analyst preparing an analysis of an investment opportunity for a client. Your client is considering the acquisition of an apartment complex fr…

1. Assume the firms operating in an oligopolistic market experience a relatively

1. Assume the firms operating in an oligopolistic market experience a relatively small change in marginal costs. According to the kinked demand curve model this would: A) cause a …

1. Assume the following sales data for a company: What is the percentage increas

1. Assume the following sales data for a company: What is the percentage increase in sales from Year 1 to Year 2 (to the nearest percent)? a.80% b.25% c.125% d.20% 2 Based on the …

1. Assume the following: The real risk-free rate, r*, is expected to remain cons

1.         Assume the following: The real risk-free rate, r*, is expected to remain constant at 3%. Inflation is expected to be 3% next year and then to be constant at 2% a year t…

1. Assume you are told that by investing $100,000 now, you will receive $10,000

1. Assume you are told that by investing $100,000 now, you will receive $10,000 per year starting in year 5 and continuing forever. If you accept the offer, the rate of return on …

1. Assuming Brokerage fees of $6000, calculate the amount of cash needed to reti

1. Assuming Brokerage fees of $6000, calculate the amount of cash needed to retire Baldwin's 11.2S2027 bond early. A. $5,785,949 B. $5,523,846   C. $5,529,846 2. Suppose you were …

1. Assuming a company uses the indirect method to report cash flows from operati

1.      Assuming a company uses the indirect method to report cash flows from operating activities, indicate where each of the following items would appear on its statement of cas…

1. Assuming that Peach Tree Software sold bonds with a face value of $100,000 fo

1. Assuming that Peach Tree Software sold bonds with a face value of $100,000 for $104,000. Was the market interest rate equal to, less than or greater than the bond’s contractual…

1. At December 31, 2014, Redmond Company has outstanding three long-term debt is

1. At December 31, 2014, Redmond Company has outstanding three long-term debt issues. The first is a $2,034,700 note payable which matures June 30, 2017. The second is a $6,019,20…

1. At December 31, YR05 Ford Co. gathered the following facts about its inventor

1. At December 31, YR05 Ford Co. gathered the following facts about its inventory: Description Amount Inventory on hand in Ford’s ware house $100 Inventory in-transit to Ford from…

1. At December 31, the unadjusted trial balance of H&R Tacks reports Salaries an

1. At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $16,000. Employees have been paid for w…

1. At Flint Company\'s break-even point of 9,600 units, fixed costs are $249,600

1.  At Flint Company's break-even point of 9,600 units, fixed costs are $249,600 and variable costs are $633,600 in total. The unit sales price is: a. $66. b. $26. c.   $40. d.   …

1. At a cost of $10,000, Sleepy purchased a car three years ago for personal use

1. At a cost of $10,000, Sleepy purchased a car three years ago for personal use. In the current year, she dozed off one night while driving. Before the accident, the car was work…

1. At a volume of 24,000 units, Dries reported sales revenues of $1,032,000, var

1. At a volume of 24,000 units, Dries reported sales revenues of $1,032,000, variable costs of $312,000, and fixed costs of $355,000. The company's contribution margin per unit is…

1. At an activity level of 9,400 machine-hours in a month, Nooner Corporation\'s

1. At an activity level of 9,400 machine-hours in a month, Nooner Corporation's total variable production engineering cost is $823,440 and its total fixed production engineering c…

1. At some point in a Ponzi Scheme which of the following is not one of the thre

1. At some point in a Ponzi Scheme which of the following is not one of the three things that will happen: a.The promoters will vanish, taking all the investment money with them. …

1. At the beginning of 2012, Wilson Stores has an inventory of $300,000. Because

1. At the beginning of 2012, Wilson Stores has an inventory of $300,000. Because sales growth was strong during 2012, the owner wants to increase inventory on hand to $450,000 at …

1. At the beginning of the year, Fedele Corporation\'s assets were $150,000 and

1. At the beginning of the year, Fedele Corporation's assets were $150,000 and its stockholders' equity was $100,000. During the year, assets increased $15,000 and liabilities dec…

1. At the break-even point, Jefferson Company sells 85,000 units and has fixed c

1. At the break-even point, Jefferson Company sells 85,000 units and has fixed cost of $353,500. The variable cost per unit is $0.40. What price does Jefferson charge per unit? No…

1. At the end of the year, a company offered to buy 4,180 units of a product fro

1. At the end of the year, a company offered to buy 4,180 units of a product from X Company for a special price of $11.00 each instead of the company's regular price of $18.00 eac…

1. At year-end, Martinez Co. had shipped $8,700 of merchandise FOB shipping poin

1. At year-end, Martinez Co. had shipped $8,700 of merchandise FOB shipping point to Endor Co. Which company should include the $8.700 of merchandise in transit as part of its yea…

1. Atlantic Inc. had the following noncash current asset and current liabilities

1. Atlantic Inc. had the following noncash current asset and current liabilities balances at the end of 2010 and 2011: 2010 2011 Accounts receivable $ 50,000 $ 42,000 Inventory 19…

1. Atlantic Surf manufactures surfboards. The company’s sales budget for the nex

1. Atlantic Surf manufactures surfboards. The company’s sales budget for the next three months is shown below. In addition, company policy is to maintain finished goods inventory …

1. Average Rate of Return—New Product Pocket Pilot Inc. is considering an invest

1. Average Rate of Return—New Product Pocket Pilot Inc. is considering an investment in new equipment that will be used to manufacture a mobile communications device. The device i…

1. Azalea\'s Totes makes fashion handbags out of leather. The manufacturing take

1. Azalea's Totes makes fashion handbags out of leather. The manufacturing takes place in two departments: the cutting department and the sewing department. The cutting department…

1. Azucar, Inc. has six processing departments for refining sugar—Affination, Ca

1. Azucar, Inc. has six processing departments for refining sugar—Affination, Carbonation, Decolorization, Boiling, Recovery, and Packaging. Conversion costs are added evenly thro…

1. BE.05-01.ALGO (Algorithmic) Gross Profit During the current year, merchandise

1. BE.05-01.ALGO (Algorithmic) Gross Profit During the current year, merchandise is sold for $150,500 cash and $653,400 on account. The cost of the goods sold is $522,500. What is…

1. BE.05-01.ALGO (Algorithmic) Gross Profit During the current year, merchandise

1. BE.05-01.ALGO (Algorithmic) Gross Profit During the current year, merchandise is sold for $150,500 cash and $653,400 on account. The cost of the goods sold is $522,500. What is…

1. BE.06-02.ALGO (Algorithmic) Perpetual Inventory Using FIFO Beginning inventor

1. BE.06-02.ALGO (Algorithmic) Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows Oct. 1 Inventory 70 units @ $24 7 Sale 46 uni…