In: Accounting
Identify a person you know who has an immune system disorder or cancer. Review content in your text for potential types of disorders.
Interview the affected person and write a 3-5 page paper identifying your findings including:
In: Nursing
• Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale. • Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale.
In: Accounting
Ink Spill, a printing company, provides printing services to its customers. Customers normally pay for printing services in advance. In October 2020, Ink Spill received $20,000 from customers for services to be provided in November 2020. A senior accountant at Ink Spill wants to record the full amount as a liability in the company’s Balance Sheet at the end of October 2020.
Required:
Should the $20,000 be recorded as a liability in the company’s Balance Sheet at the end of October 2020? Explain, using the definition and recognition criteria of a liability in your explanation.
In: Accounting
TO Industries prepares monthly cash budgets. The following budget information is available for April and May 2020:
|
April |
May |
|
|
Sales |
$650,000 |
$700,000 |
|
Direct material purchases |
220,000 |
240,000 |
|
Direct labor |
175,000 |
180,000 |
|
Manufacturing overhead |
120,000 |
130,000 |
|
Selling and administrative expenses |
150,000 |
150,000 |
All sales are credit sales. The company expects to collect 65% from customers in the month of the sale and the remaining 35% in first month following the sale. The company purchases direct materials on account. The company pays for 70% of the purchases in the month of the purchases and the remaining 30% in the first month following the purchase. Direct labor, manufacturing overhead, and selling and administrative expenses are paid in cash in the month incurred.
Additional information:
Required
In: Accounting
In: Computer Science
The company quickly acquired $41,000 in inventory, 30% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash.
Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount:
Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount:
Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount:
Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount:
Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount:
In: Accounting
Answers provided. Please explain the calculations
This is the entire question that was given. It is not missing information.
Weisman Company, a 100% owned subsidiary of Martindale Corporation, sells inventory to Martindale at a 20% profit on selling price. The following data are available pertaining to inter-company purchases by Martindale:
|
Inter-company sales |
Unsold at year end (based on selling price) |
|||
|
2020: |
$18,000 |
2020: |
$4,000 |
|
|
2021: |
$19,400 |
2021: |
$6,000 |
|
|
2022: |
$21,500 |
2022: |
$8,000 |
|
Weisman’s profit numbers were $125,000, $142,000 and $265,000 for 2020, 2021, and 2022, respectively. Martindale received dividends from Weisman of $25,000 for 2020 and 2021, and $30,000 for 2022.
29. What would be the net debit or credit to cost of goods sold on the 2021 consolidation worksheet? Answer = $19,000 credit
30. Assume Weisman uses the equity method to account for its investment in Martindale. What would be the debit to retained earnings regarding the 2020 consolidation entry related to the unrealized inventory profit? Answer = $-0-
In: Accounting
SWOT Analysis on taking the CPA SWOT Analysis on getting an MBA
In: Accounting
You currently make $100,000 a year and expect your salary increase by 10% a year for 20 years. You are considering an MBA which will cost you $120,000 for the entire education. If you take the MBA, you will have to pay the full tuition today (all upfront) and you will make zero earnings at the end of years 1 and 2. However, after graduation you’ll have an opportunity to join an investment bank, which promises $130,000 a year, which will grow by 15% for 18 years after graduation. Is the MBA a good deal? Assume a constant discount rate of 15%. What if rates fall to 10%? What if rates rise to 17%, how does your answer change? Show your detailed spreadsheet calculations using Excel.
In: Finance