Financial Accounting

1. BTC uses the cost formula Y = $5,300 + $0.60X to estimate its maintenance cos

1. BTC uses the cost formula Y = $5,300 + $0.60X to estimate its maintenance costs where X represents machine hours. If the August budget calls for 8,000 hours of planned machine …

1. Baad Industries is a division of a major corporation. Last year the division

1. Baad Industries is a division of a major corporation. Last year the division had total sales of $20,440,000, net operating income of $1,860,040, and average operating assets of…

1. Back Bay Company is a price - taker and uses target pricing. Refer to the fol

1. Back Bay Company is a price - taker and uses target pricing. Refer to the following information: Production volume              600, 000 units per year Market price            …

1. Bakels Company issued a $100,000, 20 year bond with a stated interest rate of

1. Bakels Company issued a $100,000, 20 year bond with a stated interest rate of 6%. Assume interest payments are made annually. What is the selling price of the bond if the marke…

1. Bakels Company issued a $100,000, 20 year bond with a stated interest rate of

1. Bakels Company issued a $100,000, 20 year bond with a stated interest rate of 6%. Assume interest payments are made annually. What is the selling price of the bond if the marke…

1. Baldwin Corp. ended the year carrying $24,239,000 worth of inventory. Had the

1. Baldwin Corp. ended the year carrying $24,239,000 worth of inventory. Had they sold their entire inventory at their current prices, how many more dollars of contribution margin…

1. Banc Corp. Trust is considering either a bankwide overhead rate or department

1. Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect costs. The bankwide rate could be based on either …

1. Band Instruments Company has the following sales budget for the first three m

1. Band Instruments Company has the following sales budget for the first three months of the current year: Month Sales Revenue January $600,000 February 150,000 March 440,000 Hist…

1. Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of

1. Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic…

1. Bank reconciliation information for Cole Co. for May 31, 2011 is as follows:

1. Bank reconciliation information for Cole Co. for May 31, 2011 is as follows: (a) The bank statement balance is $2,936. (b) The cash account balance is $3,194. (c) Outstanding c…

1. Barnes Company estimated the cost function for its maintenance cost. The cost

  1.      Barnes Company estimated the cost function for its maintenance cost. The cost function has a variable element and step fixed element that increases by $10,000 for each a…

1. Barra Moore’s credit card company requires a minimum monthly payment of $19.9

1. Barra Moore’s credit card company requires a minimum monthly payment of $19.99. The credit card company charges 21% annual interest. Barra owes $1,000 on this card. a) If Barra…

1. Based on predicted production of 25,900 units, a company anticipates $400,000

1. Based on predicted production of 25,900 units, a company anticipates $400,000 of fixed costs and $492,100 of variable costs. If the company actually produces 19,800 units, what…

1. Based on the first 3 year accumulated depreciation values which method should

1. Based on the first 3 year accumulated depreciation values which method should be selected for purposes? Why? 2. What is the book value for each method at the end of the recover…

1. Based on the following data, what is the amount of working capital? Accounts

1. Based on the following data, what is the amount of working capital? Accounts payable....................$32,000 Accounts receivable....................64,000 Accrued liabilitie…

1. Based on the following information, prepare journal entries for Windgate Corp

1. Based on the following information, prepare journal entries for Windgate Corporation. Mar. 7 Issued 10,000 shares of $5 par common stock for $43,000 cash 16 Issued 6,000 shares…

1. Based on the following information, what is C/G/S for Moroni Industries, Inc.

1. Based on the following information, what is C/G/S for Moroni Industries, Inc. using FIFO under the perpetual inventory method? Beginning Inventory 10 @ $120; Purchase 60 @ $112…

1. Based only on the information provided for each scenario, determine whether E

1. Based only on the information provided for each scenario, determine whether Eddy or Scott will benefit more from using the timing strategy and why there will be a benefit to th…

1. Based only on the information provided for each scenario, determine whether E

1. Based only on the information provided for each scenario, determine whether Eddy or Scott will benefit more from using the timing strategy and why there will be a benefit to th…

1. Basic and diluted EPS. Assume that the following data relative to Kane Compan

1. Basic and diluted EPS. Assume that the following data relative to Kane Company for 2010 is available: Net Income $2,100,000 Transactions in Common Shares Change Cumulative Jan.…

1. Basic and diluted EPS. Assume that the following data relative to Kane Compan

1. Basic and diluted EPS. Assume that the following data relative to Kane Company for 2010 is available: Net Income $2,100,000 Transactions in Common Shares Change Cumulative Jan.…

1. Basic concepts. Jean\'s Marine Supply specializes in the sale of boating equi

1. Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and acces-sories. Identify the items that follow as an asset (A), liability (L), revenue (R), …

1. Basic present value calculations Calculate the present value of the following

1. Basic present value calculations Calculate the present value of the following cash flows, rounding to the nearest dollar: a.       A single cash inflow of $12,000 in five years…

1. Bates Company plans to add a new item to its line of consumer product offerin

1. Bates Company plans to add a new item to its line of consumer product offerings. Two possible products are under consideration. Each unit of Product A costs $6 to produce and h…

1. Battery Power, a family owned battery store, began Oct w/ $10,500 cash. Manag

1. Battery Power, a family owned battery store, began Oct w/ $10,500 cash. Management forcasts that collections from credit customers will be $11,000 in October and $15,000 in Nov…

1. Battista Stationery Company is a price - taker and uses target pricing. The c

1. Battista Stationery Company is a price - taker and uses target pricing. The company has completed an analysis of its revenues, costs, and desired profits and has calculated its…

1. Bear, Inc. estimates its sales at 200,000 units in the first quarter and that

1. Bear, Inc. estimates its sales at 200,000 units in the first quarter and that sales will increase by 20,000 units each quarter over the year. They have, and desire, a 25% endin…

1. Because an HRIS integrates numerous individual HR tasks (training records, ap

1. Because an HRIS integrates numerous individual HR tasks (training records, appraisals, employee personal data, and so on), installing an HRIS boosts HR’s reporting capabilities…

1. Because of the time value of money, a company would prefer to receive a payme

1. Because of the time value of money, a company would prefer to receive a payment due to them: Select one: A. As early as possible B. As late as possible C. It does not make a di…

1. Bed & Bath, a retailing company, has two departments, Hardware and Linens. Th

1. Bed & Bath, a retailing company, has two departments, Hardware and Linens. The company’s most recent monthly contribution format income statement follows: Department A stud…

1. Bee owns land (Bravo) with an adjusted basis of $60 and a fair market value o

1. Bee owns land (Bravo) with an adjusted basis of $60 and a fair market value of $100. Bravo is subject to a mortgage of $4. B sells the land to Dell who gives Bee $96 in cash an…

1. Before the business begins, you will take $5,000 cash from your savings accou

1. Before the business begins, you will take $5,000 cash from your savings account to invest in the business. You will protect yourself by organizing as a corporation, with yourse…

1. Before the provision for Federal income tax, Karas Corporation had book incom

1. Before the provision for Federal income tax, Karas Corporation had book income of $400,000 for the current year. The book income included $100,000 of dividends received from a …

1. Before-Tax/After-Tax Rates a. An investor, Terry Noirs, is in the 40% tax bra

1. Before-Tax/After-Tax Rates a. An investor, Terry Noirs, is in the 40% tax bracket and has been contemplating investing in corporate bonds. After a recent stay at the Eiffel Pay…

1. Before-Tax/After-Tax Rates a. An investor, Terry Noirs, is in the 40% tax bra

1. Before-Tax/After-Tax Rates a. An investor, Terry Noirs, is in the 40% tax bracket and has been contemplating investing in corporate bonds. After a recent stay at the Eiffel Pay…

1. Beginning inventory, purchases, and sales for an inventory item are as follow

1. Beginning inventory, purchases, and sales for an inventory item are as follows: $25 Sep. Beginning inventory34 units 27 units 20 units 18 units 5 Sale 17 Purchase @ $30 30 Sale…

1. Below are departmental income statements for a guitar manufacturer. The manuf

1. Below are departmental income statements for a guitar manufacturer. The manufacturer is considering dropping its electric guitar department since it has a net loss. The company…

1. Below is a list of key terms: a. deficit b. restriction c. date of record d.

1. Below is a list of key terms: a. deficit b. restriction c. date of record d. potential common shares ex-dividend date f. liquidating dividends g. if-converted method h. appropr…

1. Below is an excerpt from the annual costs of the A / S \"Furniture Design in

1.Below is an excerpt from the annual costs of the A / S "Furniture Design in euro: Screws 5500 The administration's salary 110 000 Electricity costs for office premises 1500 Cost…

1. Below is financial information for two restaurant retailers. Popper’s Company

1.          Below is financial information for two restaurant retailers. Popper’s Company operates an innovative retail bakery-cafe business and franchising business. At the end 2…

1. Ben Lieber is a waiter at Harbor House, where he receives a weekly wage of $8

1. Ben Lieber is a waiter at Harbor House, where he receives a weekly wage of $81.20 plus tips for a 40-hour workweek. Lieber's weekly tips usually range from $275 to $390. Round …

1. BenCo makes and sells pots. the manufacturing process has two stage : Fabrica

1. BenCo makes and sells pots. the manufacturing process has two stage : Fabrication and Painting. The pots are fabricated in one building and then transferred to painting shed to…

1. Benjamin Company had the following results of operations for the past year: A

1. Benjamin Company had the following results of operations for the past year: A foreign company (whose sales will not affect Benjamin’s market) offers to buy 4,000 units at $7.50…

1. Benner Company uses a job-order costing system and applies manufacturing over

1. Benner Company uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor hours. Manufacturing overhea…

1. Bertans has received a special order for 4,200 units of its product at a spec

1. Bertans has received a special order for 4,200 units of its product at a special price of $22. The product normally sells for $33 and has the following manufacturing costs: Per…

1. Best Movers Co. has collected the following information concerning the number

1.  Best Movers Co. has collected the following information concerning the number of accidents per year for their fleet of moving trucks.  There are 3,000 trucks in the fleet. Num…

1. Best Shingle\'s budgeted manufacturing costs for 50,000 squares of shingles a

1. Best Shingle's budgeted manufacturing costs for 50,000 squares of shingles are : Fixed manufacturing costs $12,000. Variable manufacturing costs $ 16 per square. Best produced …

1. Beta Company is preparing its annual profit plan. As part of its analysis of

1. Beta Company is preparing its annual profit plan. As part of its analysis of the profitability of its customers, management estimates that the $40,600 for sales support should …

1. Beth\'s business purchased only one asset during the current year (a full 12-

1. Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7-year property) on December 1 with a basis of $6…

1. Big Bucks, a publicly traded corporation, paid its CEO $1,650,000 of base com

1. Big Bucks, a publicly traded corporation, paid its CEO $1,650,000 of base compensation for the year. What is the after-tax cost of paying the salary assuming a 30 percent margi…