Accounting Assignment | College Homework Help

Required information Tableau DA 3-3: Mini-Case, Analyzing adjusting entries and preparing an adjusted trial balance LO PS, P6 The following information applies to the questions displayed below.) Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Selected December-January Transactions Started work for Tel Dec. … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Rose Arapahoe is planning to invest $3,000 per year for the next 6 years (a total of 6 payments). Investments can earn 10% per year. How much money will Rose Arapahoe have at the end of six years if she made her first investment now and the remaining investments at one-year intervals? $17,800 $18,530 O $21.269 $25,462 $28,590 Get Accounting Homework Help today Dan William Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Unit prime cost $529 $483 In addition, the following information was provided so that overhead costs could be assigned to each product: Activity Name Activity Driver Deluxe Regular Activity Cost Setups Number of setups 300 200 Machining Machine hours 100,000 300,000 $1,850,000 56,000,000 15,000,000 Engineering Engineering hours 50,000 100,000 Packing Packing orders 100,000 400,000 200,000 Required: 1. Calculate the overhead rates for each activity. If … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Your brother-in-law borrowed $2,000 from you 4 years ago and then disappeared. Yesterday he returned and expressed a desire to pay back the loan, including the interest accrued. Assuming that you had agreed to charge him 10%, and assuming that he wishes to make five equal annual payments beginning in one year, how much would your brother-in-law have to pay you annually in order to … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Analyse transactions and prepare income statement, retained earnings statement, and statement of financial position P1.2 (LO 4,5) Ai Fang Co. opened on July 1, 2020. On July 31, the statement of financial position showed Cash 75,000, Accounts Receivable Y1.500, Supplies 7500, Equipment 76,000, Accounts Payable 74.200, Share Capital-Ordinary 14,000, and Retained Earning of Y4,800 (amounts in thousands). During August, the following transactions occurred. 1. Collected … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

signment Brief Exercise 6-17 Steve Taylor is settling a $20,280 loan due today by making 6 equal annual payments of $4,656.44 Click here to view factor tables What payments must Steve Taylor make to settle the loan at an interest rate of 10%, but with the 6 payments beginning on the day the loan is signed? (Round factor values to 5 de decimal places, e.g. … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

At January 1, 2021, Canaday Corporation had outstanding the following securities: 720 million common shares 45 million 8% cumulative preferred shares, $50 par 6.4% convertible bonds, $4,500 million face amount, convertible into 90 million common shares The following additional information is available: • On September 1, 2021, Canaday sold 81 million additional shares of common stock. • Incentive stock options to purchase 40 million shares … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 5.50 pounds 0.50 hours Direct materials Direct labor Standard Price or Rate $2.50 per pound $6.50 per hour Standard Cost $13.75 $ 3.25 During the most recent month, the following activity was recorded: a. Ten thousand … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Homework 6 In the slides & additional material folder on D2L is a schematic of a memory system comprised of 4 memory chips interfaced to a processor. The memory chips are numbered 1 through 4. Find the addresses assigned to each memory chip. 320×882 –DEas -85883886 8BIRAT E२६२२३१२२२२६EERE8४ BECTRELI BEBEE23268 BREED863233 1988288280 1086888886 २२२२२२२२२२६FEE REPREPPEPPERRRRRRRRRADES 85888880 H 4882 Tara A TAGS LAL For d a … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Problem 6-5 Prepare work sheet, classified income statement, statement of retained earnings, classified balance sheet, and closing entries (based on Appendix) (L.O.5-8) The following data are for Leone Lumber Company LEONE LUMBER COMPANY Trial Balance December 31, 2018 Acct. No. 100 103 105 107 108 112 170 171 200 300 310 410 412 Debits Credits Account Title $ 90,640 Cash 159,520 Accounts Receivable 285,200 Merchandise … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Margin of Safety Comer Company produces and sells strings of colorful indoor/outdoor lights for holiday display to retailers for $11.70 per string. The variable costs per string are as follows: Direct materials $1.87 Direct labor 1.70 Variable factory overhead 0.57 Variable selling expense 0.42 Fixed manufacturing cost totals $481,950 per year. Administrative cost (all fixed) totals $387,702. Comer expects to sell 216,700 strings of light … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Magnum, Inc. had reported the following balances: 2 (Click the icon to view the 2018 and 2019 balances.) 11. Compute Magnum’s earnings per share for 2019. 12. Compute Magnum’s pricelearnings ratio for 2019, assuming the market price is $38 per share. 13. Compute Magnum’s rate of return on common stockholders’ equity for 2019. 11. Compute Magnum’s earnings per share for 2019. Select the formula, then … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

The inventory records for Radford Co. reflected the following 1 لا o لا Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 , 200 units @ $4.00 1,300 units @ $4.20 1,500 units @ $4.30 1,100 units @ $4.40 3,900 units @ $5.90 o لا o o Determine the amount … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

2. Given the following information about a farm business: Rate of return on assets 8% Variance of return on assets 4% Interest rate on debt 6% Variance of interest on debt 9% Asset to Equity 5:1 Tax rate 10% Marginal rate of consumption 50% a. Compute the expected growth in equity. b. What level of risk is associated with the rate of growth found in … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 100,000 100,000 Common shares Convertible preferred shares (convertible into 46,000 shares of common) 8% convertible bonds (convertible into 30,000 shares of common) 16,800 16,800 $1,000,000 $1,000,000 Ames’s net income for the year ended December 31, 2021, is $580,000. The income tax rate is 25%. Ames paid dividends of $5 … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.80 pounds 0.30 hours Standard Price or Rate $2.50 per pound $6.00 per hour Standard Cost $19.50 $ 1.80 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 9,300.00 pounds … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

#7 In 2019, Sam and Betty, each single, both generate sole proprietor income of $240,000. Sam’s income is generated from a wholesale business whereas Betty’s is earned from her law practice. Neither has any employees or qualified assets. Both claim the standard deduction and have other income equal to the standard deduction amount. a.Both Sam and Betty will have a QBI deduction of $48,000. b.Sam … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

On December 31, 2020, Berclair Inc. had 300 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 64 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

After nearly destroying the city of Springfield USA because of many near nuclear melt downs caused by Homer Simpson, Mr. Burns decided to go into selling cookies. On January 2, 2020, Mr. Burn continued his Good Old Fashion Cookies Empire. The company is still a merchandise company and still uses a perpetual inventory system. 1. Prepare all the journal entries on a document. Misc Information: … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Problem 6-2 Journalize merchandise transactions on both buyer’s and seller’s books (LO. 1, 3, 4) Mars Musical Instrument Company and Tiger Company engaged in the following trans. actions with each other during July 2018: July 2 Mars Musical Instrument Company purchased merchandise on account with a list price of $54,000 from Tiger Company. The terms were 3/EOM, n/60, FOB shipping point, freight collect. Trade discounts … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Magnetic-Optical Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock unit plan, the company on January 1, 2021, granted restricted stock units (RSUS) representing 18 million of its $1 par common shares to various division managers. The shares are subject to forfeiture if employment is terminated within three years. The common shares have a market price of $9.00 per share … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

ICP 1 – Randeep Inc The following selected account balances for the year ended December 31, 20X9 were taken from the records of Randeep Inc: Sales revenue $1,500,000 Direct materials purchased 120.600 Direct materials freight-in 13.500 Direct labour 130,890 Factory supervision 20.500 General and administrative salaries 200,000 Sales salaries 105,000 Indirect materials – factory 45,600 Utilities (90% factory related) 130,000 Depreciation (85% factory related) 167,000 … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Under its executive stock option plan, National Corporation granted 12 million options on January 1, 2021, that permit executives to purchase 12 million of the company’s $1 par common shares within the next six years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $20 per share. The fair value … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Hal, a cash basis taxpayer, sold investment land in 2018 for $200,000. He received $40,000 in the year of sale and $160,000 in 2019. The cost of the land was $80,000. Under the installment method, how much gain must the taxpayer report in 2018? a. Hal must recognize $24,000 gain in the year of the sale B. Hal must recognize $36,000 gain in the year … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Lacy is a single taxpayer. In 2019, her taxable income is $40,000. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a. All of her income is salary from her employer. Tax liability = ? b. Her $40,000 of taxable income … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Calculator 1.300 The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The common stock was $132,800 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $26,000 in stock. Accounts payable $2,000 Miscellaneous Expense … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

Appendix B Exercises i Saved Spiller Corp. plans to issue 6%, 6-year, $570,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that date. (PV of $1, FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your “Table value” to … Continue reading Accounting Assignment | College Homework Help

Accounting Assignment | College Homework Help

3.Hickory Corporation recorded sales revenue during the year of $350,000 of which S100,000 was on credit. The company has experienced an average bad debt loss rate of 2% of credit sales. Required: Prepare the adjusting journal entry at the end of the year to record bad debt expense. 4. At year-end, Chief Company has a balance of $10.000 in accounts receivable of which $1,000 is … Continue reading Accounting Assignment | College Homework Help