Randall D. Smith
Chapter 3 SELLING ON THE WEB: REVENUE MODELS AND BUILDING A WEB
High-end jewelry retailers such as Harry Winston and Cartier often use Adobes Flash
software to create their Web sites. Present three arguments for
Snick's Board Shop
for the period ended
Less: Cost of Goods Sold
Randall D. Smith
Chapter 1 Introduction to Electronic Commerce
Choose one of the Web sites listed in the previous question and identify three ways in which the
company has reduced its transaction costs by using a Web site to provide info
Aamodt Music sold CDs to retailers and recorded sales revenue of $700,000. During 2010,
retailers returned CDs to Aamodt and were granted credit of $78,000. Past experience indicates
that the normal return rate is 15%. Prepare Aamodt's entries to r
Accounting Information Systems and Business Processes:
The human resource management process is the same thing as the payroll process.
The production process is only present in service organizations.
Garfield Company purchased, as a held-to-maturity investment, $80,000 of the 9%, 5-year
bonds of Chester Corporation for $74,086, which provides an 11% return. Prepare Garfield's
journal entries for (a) the purchase of the investment, and (b) the r
(Debt Securities) Presented below is an amortization schedule related to Spangler Company's 5-year,
$100,000 bond with a 7% interest rate and a 5% yield, purchased on December 31, 2008, for $108,660.
(Recording the Issuances of Common Stock) During its first year of operations, Sitwell
Corporation had the following transactions pertaining to its common stock.
Jan 10 Issued 80,000 shares for cash at $6 per share.
Mar 1 Issued 5,000 shares to atto
Archer Inc. issued $4,000,000 par value, 7% convertible bonds at 99 for cash. If the bonds had
not included the conversion feature, they would have sold for 95. Prepare the journal entry to
record the issuance of the bonds.
The answers to this, and to the first exercise of Chapters 16 and 89 will vary from
student to student, assuming each has a different CAFR.
D. There is no fund equity in agency funds
City of Everlasting Sunshine
Worksheet to Derive Governmental Activities in the Government-Wide Statements from the Governmental Fund Statements
As of and For the Year Ended December 31, 2011
GOVERNMENT AND NOT-FOR-PROFIT ACCOUNTING (ACCT 420)
Spring 2012 - TT 11:10 - 12:30 - Grise 529
Essentials of Accounting for Governmental and Not-for-Profit Organizations (10th Edition);
Copley, McGraw-Hill Irwin, 2011.
2.33, 34, 35, 42, 43
33 a. 50,000 profit would be reported on 1040 Schedule C as income for Juanita
50,000 profit would be reported on 1120 for the corporation, and since Juanita was paid no
b. dividends she would not report anything
a. are issued fr a fee by the National Office of the IRS upon a taxpayers request and
describe how the IRS will treat a proposed transaction for tax purposes; apply only to the
March 19, 2012
Client Tax File
Tax Consequences of Stock in Exchange for Control of Corporation or
Summary of Relevant Facts of this Research Case
On March 19, 2012, my client, Lynn Jones contacted me r
Enacted tax rates
% of DTA that's current
% of DTL that's Current
Book Income 12/31/11
Taxable Income 12/31/11
Shares in Treasury
Yrs in Arrears
Total Dividends to distribute
Preferred Stock Shares
Bond Payable A
Converts to 147,000 shares of common stock
Bond Payable B
$770,000 annual interest
$4,000 annual amortization
Cash (400 X $2,500) .
Warranty Expense (400 X [$155 + $185]).
Liability Under Warranties .
Cash (400 X $2,500) .
No liability would be disclosed under the cas
December 31, 2010
Franchise, net of accumulated amortization of $5,870
(Schedule 1) .
Patent, net of accumulated amortization of $2,200
(Schedule 2) .
Trademark, net of accumulated amortization of $6,6