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Type: Posts; User: KongTheKonqueror

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  1. Answers
    1
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    3,764

    Objective statement

    I will be graduating with a degree in accounting this spring and am in the process of writing a resume and was wondering if I could get some opinions on the following objective statement?

    To...
  2. Answers
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    25,165

    If that is 8% of par, you would need to know the...

    If that is 8% of par, you would need to know the par value of the shares. If it is an 8% yield you would need to know the market price off the shares.

    The basic formula is (8%)*(Market Price or...
  3. Answers
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    2,009

    In the money would result in a profitable outcome...

    In the money would result in a profitable outcome for those exercising the derivatives. Out of the money would result in a loss for those exercising the derivatives.
  4. Answers
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    794

    Operating cycle

    Operating cycle
  5. Answers
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    6,672

    Thanks for the advice. I have the etiquette and...

    Thanks for the advice. I have the etiquette and manners down. I just didn't know what type of environment to expect as far as if the dinner would be a relaxing event to loosen people up before the...
  6. Answers
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    2,348

    Rar is a compression extension like a zip file...

    Rar is a compression extension like a zip file that can be used to store several files in one while making the file smaller. You need a program to decompress the rar file. Winrar works well. ...
  7. Answers
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    6,672

    Dinner interview

    I had my first interview at on accounting firm the other day. They called me about two days later and told me that next weekend they want to take me out to dinner with one of the partners and then...
  8. Answers
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    3,195

    I saw a company the other day that makes such a...

    I saw a company the other day that makes such a device. It is a little card reader that you can install anywhere in the church and people can swipe their debit card to tithe and choose the amount...
  9. Answers
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    1,379

    FVoa = PMT [(((1 + I)^n )- 1)/ I] FVoa =...

    FVoa = PMT [(((1 + I)^n )- 1)/ I]

    FVoa = Future Value of an Ordinary Annuity
    PMT = Amount of each payment
    I = Interest Rate Per Period
    n = Number of Periods
  10. Answers
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    681

    The NYSE actually has a physical location where...

    The NYSE actually has a physical location where the traders meet and shout back and forth at each other with offers for various prices. The NASDAQ is based on the same concept but is all electronic...
  11. Answers
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    1,349

    They all look good except for #7. It should be...

    They all look good except for #7. It should be operating. The interest received would be operating income. It would only fall under investing when the note is is issued or when principle is paid.
  12. Answers
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    Good to know. I will probably try a shirt and...

    Good to know. I will probably try a shirt and pair of slacks. It won't cost any more than at a typical department store. It will be custom made but if the quality isn't that great, I won't be out...
  13. Answers
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    The only one I have found is Custom Made Suits...

    The only one I have found is Custom Made Suits and Tailoring
    It is a British company that sends your measurements and details off to Asia and then ships you your clothing. It seems reasonably...
  14. Answers
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    1,081

    I checked into the laws and I do not meet the...

    I checked into the laws and I do not meet the qualifications for being exempt. It also states at DOL WHD: Fact Sheet #23: Overtime Pay Requirements of the FLSA that to determine the hourly wage for...
  15. Answers
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    1,081

    Backpay for overtime

    I was previously working as a cable technician/installer in Tennessee. The company is an employee based company but paid us on a piece rate basis according to the work performed. If we worked any...
  16. Answers
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    5,321

    Custom made clothing

    I have found several websites where you submit your measurements and you can choose pretty much every aspect of the shirt or suit that you want such as color, color of cuffs, color of collars, number...
  17. Answers
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    850

    Thanks everyone for the quick reply. I have...

    Thanks everyone for the quick reply. I have narrowed my selection down to the following: Intro Anthropology, World Geography, American Government, or Intro to Sociology. All of the above classes...
  18. Answers
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    850

    College Electives

    I am currently entering my senior year as an accounting major with a minor in math. So far, I have taken nothing but required classes and I now have to take two electives before I can graduate in...
  19. Answers
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    1,237

    That's correct for simple interest.

    That's correct for simple interest.
  20. Under direct write off, the account receivable is...

    Under direct write off, the account receivable is written down when it is determined to be uncollectable. You basically have to remove the account receivable from the books and incur an expense for...
  21. Answers
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    1,006

    Wouldn't #1 be false? Those accounts sound like...

    Wouldn't #1 be false? Those accounts sound like a manufacturer and not a merchandiser.
  22. Answers
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    937

    Interest expense lowers taxable income and taxes...

    Interest expense lowers taxable income and taxes paid, dividends are paid after taxes and receive no tax benefit.
  23. Answers
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    30,395

    Leviticus 19:28 is the verse that talks about...

    Leviticus 19:28 is the verse that talks about tattoos and says, "Do not cut your bodies for the dead or put tattoo marks on yourselves. I am the LORD."

    As others have mentioned, Jesus came to...
  24. Answers
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    Looks good. Truck has a book value of 44,000...

    Looks good. Truck has a book value of 44,000 (62,000-18,000) and sold for a loss of 20,000 (44,000 Book Value- 24,000 cash received).
  25. Answers
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    Capitalizing is recognizing an expense across the...

    Capitalizing is recognizing an expense across the useful life of a product. Let's assume you are developing a new drug. Instead of incurring the cost of R&D in one year, you would incur the cost of...
  26. I tip them most of the time, but that is just...

    I tip them most of the time, but that is just because I feel that they do not make enough money. Most of the maids are probably making only a dollar or two above minimum wage (which isn't enough to...
  27. Answers
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    I agree with ScottGem but I am also wondering why...

    I agree with ScottGem but I am also wondering why the person who wrote the original letter does not open a traditional checking account that will cash checks? Perhaps suggesting that they open a...
  28. Answers
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    1,407

    Thank you. I love the French cuffs but most of...

    Thank you. I love the French cuffs but most of my mine are solid white or solid blue and I was wanting a little variety every now and then. Now I know what to search for and it is amazing some of...
  29. Answers
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    1,801

    I would probably include the $30 given away as a...

    I would probably include the $30 given away as a selling or misc. expense. I guess you gave away a gift card for $30, then they ended up buying over $100 in merchandise (which is the whole idea...
  30. Answers
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    1,407

    Dress shirts

    I was wondering if a dress shirt that has a collar with a different color than the shirt has a specific name? Such as a blue shirt with a white collar (Thing Gordon Gekko in Wall Street). Most of...
  31. Answers
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    4,993

    Thank you for your answers. The ideas you...

    Thank you for your answers. The ideas you suggested provide a great place for me to begin deeper research and really helped to narrow down a large number of choices to a few. It will be a long...
  32. Answers
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    4,993

    Where to go?

    I am in my mid 20’s and currently go to my parent’s Baptist church. I mostly go because they go there and really don’t feel like I get anything out of it. It is very conservative and most of the...
  33. Answers
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    All of the passages I have ever read dealing with...

    All of the passages I have ever read dealing with prohibitions on marriages only mention marriages between believers and unbelievers or people who worship false idols. Some argue that the Tower of...
  34. Answers
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    Yes. If you file your own taxes and are claimed...

    Yes. If you file your own taxes and are claimed as someone else's dependent, you must state so on your return. If you file as anything else, you will get a larger refund but within about a year you...
  35. Answers
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    4,875

    The amount paid for the bond is greater than the...

    The amount paid for the bond is greater than the par value of the bond so the bond was sold at a premium. Since the bond was sold at a premium, the market rate is less than the 8 percent coupon rate...
  36. The major factor is whether they are securities...

    The major factor is whether they are securities of the company you work for or just mutual funds or stocks in general? If you work for a well known public company, you would be able to sell the...
  37. Answers
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    Check out: Accountants- Accountants and auditors...

    Check out:
    Accountants- Accountants and auditors
    Economists- Economists

    Accounting definitely has more job openings for accountants. More companies are in need of people to keep their books and...
  38. Answers
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    1,057

    Financial statements - Wikipedia, the free...

    Financial statements - Wikipedia, the free encyclopedia
    Scroll about half-way down the page.
  39. Stocks and bonds or similar devices.

    Stocks and bonds or similar devices.
  40. a) formula is good but answer is fomrated...

    a)
    formula is good but answer is fomrated wrong. 11.565%

    b)
    Rate earned on stockholder's equity = Net Income / Total Stockholder's Equit
    85,000 / (250,000 + 1,200,000 + 230,000)= 5.06%

    c) ...
  41. Answers
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    646

    Investing in India?

    I have a collection of various index funds in my IRA (S&P 500, MSCI EAFE, Lehman Aggregate Bond, and some REITs) to try to diversify as much as possible. I have a small amount (10%) in emerging...
  42. Answers
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    853

    Revenues, expenses, gains, and losses.

    Revenues, expenses, gains, and losses.
  43. The loan should be classified as a long term...

    The loan should be classified as a long term liability as long as it is over a year long. The portion of the loan being paid each year should be classified as a current liability.
  44. Answers
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    1,659

    They all trade directly with each other and...

    They all trade directly with each other and outsource a lot of their work to other nations where labor is cheaper. Tech support in India and manufacturing in China, Mexico, and other lesser...
  45. Answers
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    870

    Wouldn't it be a note to the financial statements...

    Wouldn't it be a note to the financial statements since there is no actual cash flow involved?
  46. Unlimited liability is a disadvantage when...

    Unlimited liability is a disadvantage when starting a partnership. One parter could be held responsible for the actions of another parter. The partner's losses could also extend beyond their...
  47. Answers
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    919

    Depreciation is used to expense a fixed asset. ...

    Depreciation is used to expense a fixed asset. When a fixed asset (buildings, equipment, etc... ) is purchased you make an entry to the asset account and an entry to cash or what ever method you...
  48. Answers
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    1,145

    You would need to use two separate t-accounts. ...

    You would need to use two separate t-accounts. In equipment, debit 20,000 and credit 1,400. Then in cash credit 18,600.
  49. Answers
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    1,083

    The first thing to remember that Assets =...

    The first thing to remember that Assets = Liabilities + Equity, so your total change in assets needs to be equal to your total change in liabilities and equity.

    If you add all the asset changes...
  50. Answers
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    First you need to divide your total costs of...

    First you need to divide your total costs of $160,000 by your total activity driver (materials moved) of 75,000 which equals $2.1333 per pound of material.

    Then apply the costs in March by...
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