ACCT 550 Week 7 Homework Chapter 11: E11-4, E11-9, E11-11, E11-17 E11-4 (Depreciation Computations—Five Methods) Wenner Furnace Corp. purchased machinery for $279,000 on May 1, 2012. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and working hours of 25,000. During 2013, Wenner Corp. uses the machinery for 2,650 hours, and the machinery produces 25,500 units. Instructions From the information given, compute the depreciation charge for 2013 under each of the following methods. (Round to the nearest dollar.)
All sales are made on account at $20 per unit. Sixty percent of the sales are collected in the month of sale; the remaining 40% are collected in the following month. Forecasted sales for the first five months of 20X2 are: January, 1,500 units,- February, 1,600 units; March, 1,800 units; April, 2,000 units; May, 2,100 units. 2. Management wants to maintain the finished goods inventory at 30% of the following month's sales.
Review the Financial Statements: Balance Sheet from Section 9, Lesson 2 of this course. Use the information from the example balance sheet for Jamie's Bead Jewelry to answer the questions below. a. What is the value of the company's assets? (0.5 points) $2,322.00 b.
ACCT 304 Week 1 to 7 Quizzes Click Link Below To Buy: http://hwcampus.com/shop/acct-304-week-1-7-quizzes/ Question 1. Question : (TCO 1) Which of the following has the authority to set accounting standards in the United States? FASB IRS SEC AICPA : 1 Question 2. Question : (TCO 2) SFAC No.5 focuses on: objectives of financial reporting. qualitative characteristics of accounting information.
8. Corporate Finance and Fundraising - Review of the various capital structures of companies with ordinary, preference and deferred shares and debt capital via charges. Review of prospectus provisions and potential liabilities for misleading statements. 9. Dividends, Financial Reporting and Auditors - Rules about payment of Dividends, financial reporting obligations of Companies, Duties of Auditors to the Company and Third Parties.
Cash Budget November December January February March April May June July Sales $220,000 175,000 $90,000 120,000 135,000 240,00 300,000 270,000 225,000 Collections: Month of Sales (10%) 9,000 12,000 13,500 24,000 30,000 27,000 22,500 First month (60%) 105,000 54,000 72,000 81,000 144,000 180,000 162,000 Second month (30%) 66,000 52,500 27,000 36,000 40,500 72,000 90,000 Total collections 180,000 118,500 112,500 141,000 214,500 279,000 274,500 Purchases 54,000 72,000 81,000 144,000 180,000 162,000 135,000 90,000 Payments 54,000 72,000 81,000 144,000 180,000 162,000 135,000 90,000 Cash receipts 180,000 118,500 112,500 141,000 214,500 279,000 274,500 Cash Disbursements
The material is stored for ten days at 120 degrees Fahrenheit. Correct 7. Do you consider a 3 percent loss significant? 8. I didn’t have my watch, but I think it was around 1:30.
Return on common stockholders’ equity $29,946,992 - (2430872-15801332) / 200,000 = 82.9% * Solvency ratios 9. Debt to total assets $7,628,563 / 34,825,498 = 22% 10. Times interest earned 3,272,314 / 121,533 = 26.9 Riordan Manufacturing, Inc. Horizontal Analysis for the Balance Sheet Increase or (Decrease) 2010($) 2009($) Amount % Assets Cash $2,807,029 $1,511,253 $1,295,776* 46.1%* Account Receivables $2,695,342 $2,644,307 $51,035 1.9% Current Portion of Note Receivable $102,976 $117,475 ($14,499) (14.1%) Inventory $8,517,203 $7,123,790 $1,393,413 16.4% Deferred Income Taxes – net $0 $0 $0 0% Pre-Paid Expenses and other Items $402,240 $458,875 ($56,635) (14.1%) Total Current Assets $14,524,790 $11,855,700 $2,669,090 18.4% Liabilities Current Liabilities Current Portion of Long-Term Debt $474,032 $484,894 ($10,862) (2.3%) Accounts Payable $1,391,385 $1,636,923 ($245,538) (17.6%) Accrued
xi-xix (FYE policies) Diagnostic Essay 2 8/31 Introduction to Argument Read: FYW Ch. 1: A Perspective on Argument and TSIS Ch. 1. Due: RR #1 on Review Question 2 p. 21. Last day for late registration 2 9/2 The Rhetorical Situation Read: FYW “The Rhetorical Situation” pp.
H., Said, A., & Wolfe, G. (2007). Audit committees oversight responsibilities post sarbanes-oxley act. American Journal of Business, 22(2), pp. 19-32. Retrieved from http://search.proquest.com/docview/214179186?accountid=12085 Kahn, R., Blair, B.