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Type: Posts; User: Gator1087
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Current Assets
Cash... 179,750
Accounts receivable... 123,000
supplies... 3,750
Total Current Assets... 306,500
PPE
Land... 130,000
Buildings... 418,500
Total PPE... 548,500
Total Assets......
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The first question is A.
Materials quantity variance, also called efficiency variance is the difference between how much direct materials you actually used in production and the amount that you...
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.075 x 5 x 80,000= 30,000 -preferred dividends per year
2006: 20,000 - Preferred 10,000 in arrears
2007: 28,000- preferred 12,000 in arrears
2008: 30,000+12,000+10,000= 52,000 Preferred
...
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Payables are liabilities so you would record them as liabilities. There are two types of liability accounts: current liabilities and long-term liabilities. Current liabilities are those that are...
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Break even analysis allows a manager to figure out how much of a product the company needs to sell to avoid a loss. I don't really understand your second question, but if you explain it a little...
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No, you would use the present value annuities table. Think about it conceptually for a moment. You are not earning interest on the payments in the contract, so it wouldn't make sense that the...
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Total Assets = Owner's Equity + Liabilities
(25,000+ non current assets)= 55,000 + 40,000
non current assets= 70,000
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(1)When you buy equipment you record the amount you paid for in the account: "equipment"
(2)Then you find annual depreciation. To do this you subtract the salvage value (the amount that you expect...
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You credit an account called "accumulated depreciation" and debit the account "depreciation expense".
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The value of the actual name of a company is a trademark, which is classified as an intangible asset. To figure out the cost of a trademark you add up the cost to purchase the trademark plus any...
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A company sells computers with a 6-month warranty. In January, the company sold 100,000 computers at $1,750 each, and 1,500 computers were turned in for repairs during the same month. The total...
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I can tell you that it is definitely not a current asset, it would be part of property, plant, and equipment. You would capitalize the costs of the alarm system and all the costs associated with it...
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1. The tax is imposed on the employer, so read what I wrote to your first question. Take 13.85% (7.65+6.2) of earnings up to 84,900 for each emplyee and 7.65% (6.2+1.45) of all earnings above that...
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You're going to need to provide a little bit more information. Is it for the employee or employer? Social security taxes or FICA is 7.65 % on an employees wages up to $84,900 and 1.45% on the...
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It all depends on whether the question was updated for FASB 153 or not. From the way the question was asked it sounds like it wasn't because the question said the assets were similar, which is only...
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a. You would have to know what the inventory was at the beginning of the period and purchases made during the year. If it gives it to you, you would do:
beginning inventory+purchases-ending...
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I assume you're using straight-line depreciation so:
74,000-4,000=70,000 your depreciation base
70,000/14yrs = 5,000 depreciation per year
74,000-49,000= 25,000 accumulated depreciation...
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