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### Xpert Inventory

Course: ACCOUTNING 550, Spring 2012
School: DeVry Houston
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Coursehero >> Texas >> DeVry Houston >> ACCOUTNING 550

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sells Boarders a snowboard Xpert, that is popular with snowboard enthusiasts. Below is informationrelatingtoBoarder'spurchasesofXpertsnowboardsduringSeptember.Duringthe samemonth,121Xpertsnowboardsweresold.Boardersusesaperiodicinventorysystem CalculationofCostofGoodsSoldFIFO Date Units Sept1 26 Sept12 45 Sept19 20 Sept26 30 COGS Cost \$97 \$102 \$104 \$105 Total \$2,552 \$4,590 \$2,080 \$3,150 \$12,372 CalculationofCostofGoodsSoldLIFO Date Units Sept1 6 Sept12 45 Sept19 20 Sept26 50 COGS Cost \$97 \$102 \$104 \$105 Total \$582 \$4,590 \$2,080 \$5,250 \$12,502 CalculationofEndingInventoryFIFO Date Units Sept26 20 EndingInventory Cost \$105 Total \$2,100 \$2,100 CalculationofEndingInventoryLIFO Date Units Sept1 20 EndingInventory Cost \$97 Total \$1,940 \$1,940 ThesumsforFIFOandLIFOareequal
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DeVry Houston - ACCOUTNING - 550
YouareemployedbyCGT,aFortune500firmthatisamajorproducerofchemicals and plastics, including plastic grocery bags, styrofoam cups, and fertilizers. You are on the corporate staff as an assistant to the CFO. This is a position with high visibility and the
DeVry Houston - ACCOUTNING - 550
Abusinessandfinancedefinitionforyieldtomaturityrateistheinterestearnedbythelenderon monies loaned which is expressed as a percentage of the total investment. Yield rate is determinedbytheamountreturnedtothelenderofasecurity.Theyieldofabondisinfluenced
DeVry Houston - ACCOUTNING - 550
Question1Solution)TBO=ELSDTBO=484.13250TBO=1.94ProductionTime=ELSpProductionTime=484.13450ProductionTime=1.07Question2Solution)Question3SolutionQuestion4Solution
DeVry Houston - ACCOUTNING - 550
Describe a 5step hypothesis test using any one of the nonparametric tests in your reading materialforaparticularclaimrelatedtoyourworkorlifeenvironment.Youneedtostatetheclaim,definethenullandalternatehypotheses,identifythetestsignificanceandtheteststati
DeVry Houston - ACCOUTNING - 550
Describea5stephypothesistestfor twovariancesforaparticularclaimrelatedtoyourworkor lifeenvironment.Youneedtostatetheclaim,definethenullandalternatehypothesis,identify thetestsignificanceandtheteststatistic,andstatethedecisionrulethatwillbeused. Thedeci
DeVry Houston - ACCOUTNING - 550
Upward Bound: Vertical Integration at A.T. Kearney 1Running head: Upward Bound: Vertical Integration at A.T. KearneyUpward Bound: Vertical Integration at A.T. Kearney[Enter Student Name][Enter Professor Name][Enter Course Number]December 4, 2011Upw
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
1. Which of the following accounts will be closed by crediting the Income summary account?(Points : 1)Service revenueDepreciation expenseAccounts payableAccumulated depreciation2. Which of the following accounts will be closed by debiting the Income
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
Week3quiz1.Whenmaterialsarerequisitionedforajob,thematerialsinventoryaccountisdebited.(Points:1)TrueFalse2.ThefollowinginformationpertainstoBrightToyCompany'soperatingactivitiesfor2012.Thecompanysellslightboxtoysandsold10,000unitsin2012.PurchasesS
DeVry Houston - ACCOUTNING - 550
Whatisacurrentasset?Whatisanoncurrentasset?Whatisthedifferencebetweenthetwotypesofassets?Inwhichfinancialstatementwouldyoufindtheseassets?Acurrentassetisabalancesheetaccountthatrepresentsthevalueofallassetsthatare reasonablyexpected tobeconverted intoc
DeVry Houston - ACCOUTNING - 550
Direct Materials Price Variance1008 UnfavorableDirect Materials Quantity Variance1528 FavorableDirect Labor Rate Variance575 UnfavorableDirect Labor Efficiency Variance805 UnfavorableVariable Overhead Rate Variance250 UnfavorableVariable Overhea
DeVry Houston - ACCOUTNING - 550
In an examination of Arenes Corporation as of December 31, 2010, you have learned that the following situationsexist.Noentrieshavebeenmadeintheaccountingrecordsfortheseitems.1. Thecorporationerecteditspresentfactorybuildingin1995.Depreciationwascalculat
DeVry Houston - ACCOUTNING - 550
SmithCompanyClassifiedBalanceSheetFortheYearEndedDecember31,2010AssetsCurrentAssetsCashOfficeSuppliesPrepaidInsuranceTotalCurrentAssetsProperty,Plant&amp;EquipmentEquipmentLess:AccumulatedDepreciationEquipmentTotalProperty,Plant&amp;Equipmen
DeVry Houston - ACCOUTNING - 550
PartACalculationofPresentValueofthePrincipal\$2,000,000*0.38554(PV10,10%)\$771,080CalculationofPresentValueoftheInterestPayments\$210,000*6.14457(PVOA10,10%)\$1,290,360*\$2,000,000*10.5%=\$210,000CalculationsofPresentValue=PresentValueofthePrincipal+Pr
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
P159(Stockholders'EquitySectionofBalanceSheet)The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2010.In2010,15,000shareswereauthorizedand7,000sharesofcommonstock(\$50parvalue)wereissuedata priceof\$5
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
Final Examination Study GuideACC/561 Version 41ACC/561 Final Examination Study GuideThis study guide will prepare you for the Final Examination you will complete in the final week. It containspractice questions, which are related to each weeks object
DeVry Houston - ACCOUTNING - 550
1)Thestatementofcashflowsisusedfor_.A.showingtherelationshipofnetincometochangesincurrentassetsB.determiningacompanysacceptablelevelofdebtfinancingC.revealingcommitmentsthatmayrestrictfuturecoursesofactionD.evaluatingthecreditworthinessoftheorganizati
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
Problem1DiscussionQuestionsDealingwithaVarietyofIssues;MasterBudgets,NetPresentValue andDepreciation,FlexibleBudgets(20totalpoints,4pointseach):a.Inthepreparationandimplementationofthemasterbudget,whatisthecornerstoneoruniversalstarting pointinthedevel
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
1. Explainthegenerationofstatementofcashflows.Wheredoestheinformationcomefromandhowisitstructured?Whousesthisreportandwhatinfoaretheinterestedin?TheStatementofCashFlowsisgeneratedusinginformationoncurrentoperatingresultsandbalance sheetinformation.TheS
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
Week 6 ProjectAliceya PerkinsProfessor Clint BorgstadtACCT 304 Intermediate Accounting ITable of ContentsQuestion 1Page 3Question 2Page 3Question 3Page 4Question 4Page 4Question 5Page 4Question 6Page 5Question 7Page 5Question 8Page 6Q
DeVry Houston - ACCOUTNING - 550
Week 6 Project[Enter Your Name][Enter Professors Name][Enter Course Name]Table of ContentsQuestion 1Page 3Question 2Page 3Question 3Page 4Question 4Page 4Question 5Page 4Question 6Page 5Question 7Page 5Question 8Page 6Question 9Page
DeVry Houston - ACCOUTNING - 550
TO:ProfessorTracieHayesFROM:AliceyaPerkinsRE:TaxResearchMemorandumAssignment1FactsTraceyisasalesrepresentativeforanationalpharmaceuticalcompany.Shehasaratherlargesalesterritory,andshemakesherroundstohercustomersusingacompanyownedcarovera16to19hourpe
DeVry Houston - ACCOUTNING - 550
Problem1 TheDoorCompanymanufacturesdoors. Classifyeachofthefollowingqualitycosts as preventioncosts,appraisalcosts,internalfailurecosts,orexternalfailurecosts.(13 points)a.internalfailurecostsb.internalfailurecostsc.internalfailurecostsd.appraisalco
DeVry Houston - ACCOUTNING - 550
Problem2128InitialInvestment(\$46,900,000)AnnualAfterTaxCashFlowDec.31,2001\$6,901,104AnnualAfterTaxCashFlowDec.31,2002\$6,828,696AnnualAfterTaxCashFlowDec.31,2003\$6,698,496AnnualAfterTaxCashFlowDec.31,2004\$6,517,728AnnualAfterTaxCashFlowDec.31,2005\$6,
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
Considerthefollowingscenario:Developawrittenproposaloutliningaspecificproductorserviceideayouhaveastheproduct manager for Triangle Solutions. Triangle's company type and product area have been left unspecified in order to allow you creativity in invent
DeVry Houston - ACCOUTNING - 550
Considerthefollowingscenario:Developawrittenproposaloutliningaspecificproductorserviceideayouhaveastheproduct manager for Triangle Solutions. Triangle's company type and product area have been left unspecified in order to allow you creativity in invent
DeVry Houston - ACCOUTNING - 550
ANEXO AIndividual Assignment Submit at WEEK 21Cost Volume Profit Analysis.1. Clark Company produces flash drives for computers, which it sells for \$20 each. Eachflash drive costs \$12 of variable costs to make. During April, 1,000 drives were sold. F
DeVry Houston - ACCOUTNING - 550
Annual Report AnalysisAliceya PerkinsProfessor Cline BorgstadtIntermediate Accounting IOctober 8, 20111. Who are the firms auditors? Do they provide a clean opinion on the financial statements?The auditing firm for Apple Inc. is Ernst &amp; Young LLP. I
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
DeVry Houston - ACCOUTNING - 550
1.(ignoreincometaxes)AxillarBeautyproductscorpisconsideringtheproductionofanewconditioningshampoothatwillrequirethepurchaseofnewmixingmachinery.Themachinerywillcost\$375,000,isexpectedtohaveausefullifeof10years,andisexpectedtohaveasalvagevalueof\$50,000
DeVry Houston - ACCOUTNING - 550
Thereareingeneralfourbasictypesofleases. TheyareGrosslease,FullServicelease,Gross Industriallease,andTripleNetlease.TheGrossleaseisthesimplestleaseformandonenotoftenusedtoday. Inthisformatthetenantsimplypaysastatedamounteachmonth.Thisratecoversalltheba
DeVry Houston - ACCOUTNING - 550
TheledgerofMolinaCompanyattheendofthecurrentyearshowsAccountsReceivable\$92,100;CreditSales\$768,200; andSalesReturnsandAllowances\$42,700.(a)IfMolinausesthedirectwriteoffmethodtoaccountforuncollectibleaccounts,jouuncollectible.DateAccount/Description
DeVry Houston - ACCOUTNING - 550
BE172Classifyeachitemasanoperating,investing,orfinancingactivity.Assumeallitemsinvolvecashunlessthereisinformation tothecontrary.(a) Purchaseofequipment.(b) Saleofbuilding.(c) Redemptionofbonds.(d) Depreciation.(e) Paymentofdividends.(f)Issuanceo
DeVry Houston - ACCOUTNING - 550
Defendersofflexibleworkinitiativespointtothecompetitiveadvantagesthatsuchprograms bring to companies that move in that direction. Perhaps the single most cited reason for introducingaflexibleworkenvironmentisemployeeretention.Indeed,manybusinessesconten
DeVry Houston - ACCOUTNING - 550
IntroductionThe Course Project is an opportunity for you to apply concepts learned to a real-lifesimulation experience. Throughout the Course Project, you will assume that you workas a financial analyst for AirJet Best Parts, Inc. The Course Project is
DeVry Houston - ACCOUTNING - 550
CourseProjectPartIIntroductionTheCourseProjectisanopportunityforyoutoapplyconceptslearnedtoareallifesimulationexperience.ThroughouttheCourseProject,youwillassumethatyouworkasafinancialanalystforAirJetBestParts,Inc.TheCourseProjectisprovidedintwopartsa
DeVry Houston - ACCOUTNING - 550
Course Project Part ITask 1: Assessing loan options for AirJet Best Parts, Inc.The company needs to finance \$8,000,000 for a new factory in Mexico. The funds will beobtained through a commercial loan and by issuing corporate bonds. Here is some of the
DeVry Houston - ACCOUTNING - 550
IntroductionYou will assume that you still work as a financial analyst for AirJet Best Parts, Inc. Thecompany is considering a capital investment in a new machine and you are in charge ofmaking a recommendation on the purchase based on (1) a given rate
DeVry Houston - ACCOUTNING - 550
View Attempt 1 of 1Title:Started:Submitted:Time spent:Test #1-Ch. 1June 10, 2011 4:42 AMJune 10, 2011 5:38 AM00:56:06Total score:94/100 = 94% Total score adjusted by0.0 Maximum possible score: 1001.Chapter 1 1Managers are most interested in
DeVry Houston - ACCOUTNING - 550
a.Caledoniashouldfocusonfreecashflowsratherthanaccountingprofitsbecausefreecash flows can be reinvested. Free cash flow is found by taking net operating income less changesinworkingcapitallesscapitalexpenditures.b.Depreciation does affect free cash f
DeVry Houston - ACCOUTNING - 550
InfoSystemTechnology(IST)manufacturesmicroprocessorchipsforuseinappliancesandotherapplications.ISThasnodebtand100millionsharesoutstanding.Thecorrectpriceforthese sharesiseither\$14.50or\$12.50pershare.Investorsviewbothpossibilitiesasequallylikely,so thes
DeVry Houston - ACCOUTNING - 550