Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose that you are involved in negotiations with the local labor union regarding wages for your company's employees. Labor leaders are asking that their members be given an average annual raise of 12%. The company president has asked you to prepare a set of ?nancial statements that portrays the company's performance as being mediocre at best. The president also makes it clear that she does not want you to prepare fraudulent ?nancial statements. All estimates must be within the bounds of reason. Your answers to the following questions should be at least 300 words when combined. So you come up with the following: Change the percentage used for estimating bad debts from 1.5% to 2%. Elect to use the LIFO method for valuing inventory because the prices associated with inventory have been rising. Change the average estimated salvage value of long-term assets from 15% to 10% of historical cost. Change the depreciation method from straight-line to an accelerated method. Change the average estimated useful life of long-term assets from 10 years to 7 years. As you know, each of these changes will result in net income being lower. Each of these changes is also still within the bounds of reason required by the company president. 1. Would it be appropriate to make the changes described above in order to obtain favorable terms from the labor union negotiators? 2. If the above changes are made, what sort of disclosure do you think should be required?
Data for the Darth Vader Manufacturing Company for the month of July 2005 are as follows: Prepare a process costing analysis for the month of July.
Beyer Corporation is considering buying a machine for $25,000. Its estimated useful life is 5 years, with no salvage value. Beyer anticipates annual net income after taxes of $1,500 from the new machine. What is the accounting rate of return assum..
Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.
Marchand Corp is considering the purchase of a new piece of equipment, which would have an initial cost of $500,000, a 7 year life, and $150,000 salvage value. The increase in cash flow each year of the equipment's life would be as follows:
Provide the National Star Inc. journal entries for the transactions involving its investment in Krypton Labs Inc. during 2010.
The column of the income statement show the debits are equal to $56,899 and credits are $60,333. What do this information mean to the accountant?
What was the balance in Work in Process Inventory onJuly 1 if these were the only unfinished jobs? What was the predetermined overhead rate in June ifoverhead was applied on the basis of direct labor cost?
On February 1, 2010, Katz corp. purchased a small lot and unusable building for $12,000, including back taxes of $1,000. On March 1, 2010, the lot was cleared, paved, and fenced to provide additional parking for employees.
Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?
For each independent situation above, prepare the appropriate journal entry for the redemption or conversion of the bonds. (For multiple debit/credit entries, list amounts from largest to smalest
Daniels Corporation reports its income from investments under the equity method and recognized income of $15,000 from its investment in Travis Company during the current year.
What does the cost manager do? What information does the cost manager get and how does he use it? What decision does the cot manager make about production and how does it affect shareholders?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd