Hit The Order Button To Order A **Custom Paper**

>> CLICK HERE TO ORDER 100% ORIGINAL PAPERS FROM AustralianExpertWriters.com <<

17 Oct
2020

On January 1, 20X1, Bravo Company borrowed $26,000 to purchase equipment. The loan is…

Category:ACADEMICIAN

SOLUTION AT Australian Expert Writers

On January 1, 20X1, Bravo Company borrowed $26,000 to purchase equipment. The loan is to be repaid plus interest of 10% per year, on December 31, 20X2. Prepared the general journal adjusting entry (without explanation) needed for December 31, 20X1. If no entry is required then write “No Entry Required.”
Q#1 special order Clean-it Company produces cleaning kits for shotguns. The production capacity available will enable the firm to produce
Q#1 special order Clean-it Company produces cleaning kits for shotguns. The production capacity available will enable the firm to produce 500,000 kits annually. A projected income statement for next year shows Sales (460,000 kits) $4,600,000 Costs of goods sold 2,960,000 Gross profit 1,640,000 Selling and administrative expenses 1,250,000 Net income $ 390,000 Fixed manufacturing overhead costs included in the cost of goods sold are $ 1,120,000. A 10% sales commission is paid to sales representatives for each kit sold. The purchasing department of a large discount chain has offered to purchase 30,000 kits at $6 each. The Clean-it Company sales manager’s initial response is to refuse the offer because he concludes that the $6 price is below the firm’s average cost 2,960,000/460,000. The sales commission would not be paid on the special order. Required: A. Should the special offer be accepted? What would be the impact on net income? B. Assume that the offer was for 50,000 kits. Should it be accepted? Show your calculations. C. Ignore part B. What is the lowest price the firm could accept if it wants to earn annual net income of $480,000?
Regarding classification of expenses by nature versus function, under ASPE, an entity is required to 4 options:a) present their
Regarding classification of expenses by nature versus function, under ASPE, an entity is required to Question 4 options:a) present their expenses according to their function.b) present their expenses according to their nature.c) present expenses in a manner that is most transparent.d) present an analysis of expenses based either on their nature or function.
You are a new cost accountant for EAON Corp. Your first project is a capital investment proposal to purchase state
You are a new cost accountant for EAON Corp. Your first project is a capital investment proposal to purchase state of the art hardware and software for engineering’s new product. The VP of engineering is excited to begin R
Selected transactions for Blue Spruce Company during its first month in business are presented below. Sept. 1 Invested $10,000 cash
Accounting Assignment Writing ServiceSelected transactions for Blue Spruce Company during its first month in business are presented below. Sept. 1 Invested $10,000 cash in the business. 5 Purchased equipment for $13,000 paying $5,300 in cash and the balance on account. 25 Paid $2,600 cash on balance owed for equipment. 30 Withdrew $600 cash for personal use.Spruce’s chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Owner’s Capital, and No. 306 Owner’s Drawings.Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit1.2.3.4.5.6.7.8.9.
The following is the Frederick Company’s adjusted Trial Balance. Frederick CompanyAdjusted Trial Balance December 31, 2018Account Title Debit CreditCash $85,150
The following is the Frederick Company’s adjusted Trial Balance. Frederick CompanyAdjusted Trial Balance December 31, 2018Account Title Debit CreditCash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________ Totals $1,522,565 $1,522,565 Use this information to prepare the classified Balance Sheet for the fiscal year. There are additional lines in the classified Balance Sheet form to allow for authorized alternate presentations. Hint: you must close out temporary accounts to arrive at adjusted retained earnings balance.
Problem 14.10 (LO1, 3) Comprehensive Financial Statement Analysis Marty “Monk” Fisher owns the largest motorcycle dealership in southern Ohio. Recently,
Problem 14.10 (LO1, 3) Comprehensive Financial Statement Analysis Marty “Monk” Fisher owns the largest motorcycle dealership in southern Ohio. Recently, he was approached by Bob Sherman, founder of Mandrake Motorcycles, and offered the opportunity to be the sole distributor of Mandrake bikes in the state. Acceptance of the offer will require Monk to open a dedicated Mandrake showroom and repair facility and, obviously, stock Mandrake cycles and parts. Monk is quite impressed by the Mandrake product, but before making a major investment, he wants to be confident that the company will be around for the long haul. Accordingly, he has asked you to analyze the audited financial statements of Mandrake for the previous two years. Requireda. Prepare a horizontal and a vertical analysis of the 2021 and 2020 financial statements. b. Calculate the following ratios for 2021 and 2020: return on assets, gross margin percentage, receivables turnover, days’ sales in receivables, inventory turnover, days’ sales in inventory, debt to equity, and times interest earned. c. Based on your analysis in parts a and b, comment on any matters that Monk should probe in an upcoming meeting with Bob Sherman from Mandrake. d. Based on the limited information available, do you think Monk should open a Mandrake showroom? Problem 14.11 (LO1, 3) Additional Information Related to Problem 14.10 In 2022, Mandrake Motorcycles declared bankruptcy. Subsequently, it was determined that in fiscal 2021, the company produced more units than needed to fill pending orders. The result was a substantial decrease in production cost per unit. The company uses the LIFO inventory method. RequiredDiscuss how (or if) this information is consistent with the results of the analysis conducted in Problem 14.10, parts a and b. The full question in the link: https://learn-us-east-1-prod-fleet01-xythos.s3.amazonaws.com/5c06b1fe1ee88/15663849?response-cache-control=private, max-age=21600
-Is the term corporate entrepreneurship an oxymoron? In other words, can corporations—especially large ones—be innovative? Support your answer with
-Is the term corporate entrepreneurship an oxymoron? In other words, can corporations—especially large ones—be innovative? Support your answer with examples.Use the Internet to find an example of two corporate innovations—one brought about through autonomous strategic behavior and one developed through induced strategic behavior. Which innovation seems to hold the most promise for commercial success and why
Prepare journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually.
Prepare journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts.)1.Bad debt expense is estimated to be $1,471.2.Equipment is depreciated based on a 7-year life (no salvage value).3.Insurance expired during the year $2,557.4.Interest accrued on notes payable $3,492.5.Sales salaries and wages earned but not paid $2,232.6.Advertising paid in advance $722.7.Office supplies on hand $1,510, charged to Supplies Expense when purchased.
Your company is planning to borrow R500 000 on a 5-year, 7%, annual payment, fully amortized term loan. What is
Your company is planning to borrow R500 000 on a 5-year, 7%, annual payment, fully amortized term loan. What is the amount of the payment made at the end of the second year will represent repayment of principal? (3)4. The present value (t = 0) of the following cash flow stream is R11 958.20 when discounted at 12% annually. What is the value of the missing t = 2 cash flow? (3) 0 12% 1 2 3 4 | | | | | PV = R11 958.20 R2 000 R? R4 000 R4 000
You have the following incomplete information on yields, forward rates from time t-1 to t, and prices (risk-free, zero-coupon bonds
You have the following incomplete information on yields, forward rates from time t-1 to t, and prices (risk-free, zero-coupon bonds with face amount $100):Given this information, what is the price of a 3-year, 5%, annual-pay, coupon bond with face amount $1,000? (Please fill in the table as well.)
A partial list shows that Charles Corporation’s adjusted trial balance included the following items (all account balances are normal):Accounts payable
A partial list shows that Charles Corporation’s adjusted trial balance included the following items (all account balances are normal):Accounts payable $42,500, Accounts receivable $58,500, Capital stock $100,000, Cash $52,000, Dividends $10,000, Interest expense $4,000, Interest payable $5,000, Inventory $32,000, Prepaid expenses $4,600, Property, plant

Order from Australian Expert Writers
Best Australian Academic Writers

QUALITY: 100% ORIGINAL PAPERNO PLAGIARISM – CUSTOM PAPER

READ ALSO  Assignment 2: Decision-making and Philosophy Part I: Philosophy and the Self