Building Blocks of Accounting . A Financial Perspective
A SOLE PROPRIETORSHIP
Ronney, when you are ready to have your work graded you will upload this file
to the same screen that the project was downloaded from:
Final Project Part I Peyton Approved Data
The following events occur in July 2014:
1 Open a bank account for Peyton Approved.
1 You take $15,000 from your personal savings account and buy common stock in Peyton
3 Your parents lend the company $1
To: Manager, Production, purchasing and HR Department
From: Senior Manager, Spine Line
Date: 6th April, 2015
Subject: Variance analysis
We have received the month variance statements for the production of spine line chairs. The analysis reflects
The Howit Department store is located in midtown Metro. During the past several years, net income has been declining because of suburban shopping centers. At the close of the year ended December 31,2007, the following accounts appeared in two of its trial
Case # 05
PART 2 (A)
Alex & CO.
Make / Buy Analysis
Cash from operations
Earnings before interest and taxes
ACC211 Extra Credit Assignment
You are a Bicycle shop.
Using the following post-closing trial balance as your starting point complete the the
Journal Entries for the following months, March, April, May and June. At the end of
each months entri
The Accounting Cycle
This document is to throw some light on the working of accounting system and accounting cycle. An
accounting system is a key system in any business that helps in collecting and communicating economic
information, preparing and maintai
Problem 15-1A Recording transactions and fair value adjustments for trading securities
Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following
transactions are from its short-term investments in tradi
1. The companies have/has the primary responsibility for establishing and maintaining a
company's system of internal control.
A) External auditors
B) Internal auditors
C) Top management
2. SOX created a new body to oversee the audits of pu
1. Revenues were $170,000, expenses were $90,000, and cash dividends were $30,000.
Indicate the net income and the change in retained earnings for the period.
A.Net income was $50,000; change in retained earnings was $50,000
B. Net income was $80,000; cha
Fill in the missing numbers for the following income statement. (Input all amounts a
Calculate the OCF.
BTM102: PRINCIPLES OF FINANCE - SPRING I 2016
M/W 6PM 7:30PM
PROFESSOR LINCOLN ALABASTER
DUE BY 11:59PM, THURSDAY, MARCH 24, 2016
SUBMIT VIA BLACKBOARD OR VIA EMAIL TO: [email protected]
Section 1. 15 questions (True or False - 15 poin
Intermediate Financial Accounting I - ADMN 3221H
Accounting Assignment #1 - Review of Financial Accounting Concepts and Principles
Part 1 - Questions #1 - #25. True or False. [25 marks]
1. Financial Statements that are prepared in accordance with GAAP for
At the end of the May, the sales journal of Mountain View appears as follows:
Inv. No Acc Rec Dr COGS Dr.
Sales Cr. Inv Cr.
Problem 19-4A: Overhead allocation and adjustment using a predetermined overhead rate
In December 2014, Learer Companys manager estimated next years total direct labor cost assuming 50
persons working an average of 2,000 hours each at an average wage rate
Vibrant Company had $850,000 of sales in each of three consecutive years 20142016, and it purchased merchandise
costing $500,000 in each of those years. It also maintained a $250,000 physical inventory from the beginning to the end
of that three-year peri
Problem 17-2A Ratios, common-size statements, and trend percents
Check (3) 2015, Total assets trend,
Selected comparative financial statements of Korbin Company follow
Comparative Income Statements
For Years Ended December 31, 2015, 2014, a
Problem 21-1A Contribution margin income statement and contribution margin ratio
The following costs result from the production and sale of 1,000 drum sets manufactured by Tight
Drums Company for the year ended December 31, 2015. The drum sets sell for $5
1. Which of the following would be most helpful in the comparison of different size
A) Horizontal analysis
B) Comparison of their net incomes
C) Comparison of their working capital balances
D) Preparation of common-size financial statements
QS 10-5 Computing revised depreciation
On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a
cost of $65,800. The band estimates it will use this equipment for four years. It estimates that after
four years it can se
Investment Rules Homework
You are considering the following two mutually exclusive projects that will not be
repeated. The required rate of return is 11.25% for project A and 10.75% for
project B. Which project should you accept and why?
Assignment 2: TVOM Calculations
Ling is considering to open an annuity to save for a down payment on a home. The annuity would be created
of each of the following ten years, a payment of $4,000 would be made into the annuity. The interest rate is 2
EXPRESS DELIVERY SERVICE
For the Year Ended Dec 31, 2015
Acount Title and Description
To record salaries paid.
To record truck purchased.
Financial reporting is an important component of business control and governance. It is one of the principal
mean by which important financial information about a business is communicated to interested users
concerning the business fin
Note: It is recommended that you save your response as you complete each question.
Question 1 (1 point)
An entity represents the individual characteristics or properties that are recorded about an object.
Question 1 options:
FINA 6300 Practice Test 11
1. Interest rates or rates of return on investments that have been adjusted for the effects of ination are called
2. The upper and lower limits on the cou
This is a comprehensive problem all contained on this spreadsheet tab.
Below is summary monthly income statement data for Ace Manufacturing Company.
Direct materials purchases
Selling and admin
CONAGRA FOODS, INC
For the Year Ended May 31st, 2012
In million dollars
Cost and expenses:
cost of goods sold
Selling, general and administrative expenses
Income from c
Flexible Budget and Performance Analysis
1. A flexible budget is an estimate of what revenues and costs should have been, given
the level of activity that had been planned for the period. False
2. An unfavorable activity variance for a cost ind
Part A (30 points)
Record the following transactions in the basic accounting equation:
a. Brian invests $10,000 cash to begin an accounting service.
b. The company buys office furniture for cash, $600.
c. The company buys additional office furniture on ac
A01 Introduction to Accounting
Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College
for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English,