BUS670 Week 3 Individual Assignment Elements of a Contract Elements of a Contract. The paper must be four to five pages, excluding the title page and references page(s), and formatted according to APA style as outlined in the Ashford Writing Center. Address all of the following parts of this assignment: Suppose that the Fabulous Hotel hires you as head chef under a […]
11-A2. A manager of the engineering department of Manchester University is contemplating acquiring 120 computers. The computers will cost $240,000 cash, have zero terminal salvage value, and a useful life of 3 years. Annual cash savings from operations will be $110,000. The required rate of return is 14%. There are no taxes. 1. Compute the NPV. 2. Should the engineering department acquire the computers? Explain […]
Question 1: Borderbooks Company uses activity-based costing. The company produces soft and hard-cover books. The estimated costs and expected activity for each of the activity pools follow:Activity Estimate Expected ActivityCost Pool Cost Hard-Cover Soft-Cover TotalActivity 1 $15,675 800 300 1,200Activity 2 $11,900 500 200 700Activity 3 $27,600 800 400 1,200 The activity rate for activity 3 is closest to A $23.00B $18.39C $69.00D $45.98 Question 2: […]
I will be needing a four page paper on Macroeconomic Analysis: Unemployment and Inflation. Overview A high unemployment rate in any economy is a symptom of dysfunctionality in the economy. People need income to be able to consume, and consumption leads to production and production leads to a higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern […]
eActivities • Go to the United States Department of Labor and read the section titled “Employment Rights: Who has Them and Who Enforces Them”, located at http://www.dol.gov/odep/pubs/fact/rights.htm. Be prepared to discuss. • Use the Internet to research the role of unions in the United States compared to three other countries. Be prepared to discuss. 1- “Labor Unions” Please respond to the following: • From […]
Read Case Study Mead Meals on Wheels Center—Part I (from Chapter 4) and Part II (from Chapter 5). Using the information in the case study problems, especially Problem 3 (from Part II), discuss the following: MMWC buys the equipment to expand their services. Present a recommendation supporting the type of financial impact the expansion of services will have on MMWC.Clearly label the calculation of the […]
creating a ‘Prezi’ evaluating two independent ethical situations. Case 2: Inside Information (Chapter 11) Jim Brock was an accountant with Hubbard Inc., a large corporation with stock that was publicly traded on the New York Stock Exchange. One of Jim’s duties was to manage the corporate reporting department, which was responsible for developing and issuing Hubbard’s annual report. At the end of 2017, Hubbard […]
ACC 349 Final Exam 2 Rating A 1) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation? A.The company incurred more total job costs than the amount budgeted for the job. B.The actual manufacturing overhead costs were less than the manufacturing overhead assigned to jobs. C.Estimated manufacturing overhead was less than actual manufacturing overhead costs. D.The […]
1. To allocate corporate costs to divisions, the allocation base used should: be an output unit-level base have the best cause-and-effect relationship with the costs combine administrative costs and human resource management costs allocate the full costsQuestion 2 1. To improve customer profitability, companies should: strictly enforce their volume-based price discounting policy track discounts by customer track discounts by sales person Both B and C […]
Capstone Project Overview The purpose of this Capstone Project is for students to examine and solve real world information assurance problems and apply associated techniques to create practical solutions. The course takes an integrative and senior security officer approach to address the policy, risk, and control opportunities within cyberspace and IT environments. Deliverables 1 through 5 focus on preparing students toward the final Capstone […]
31) Estimated warranty payable are reported on the balance sheet as:
A) administrative expenses.
B) a long-term liability.
C) a current liability.
D) part of cost of goods sold.
32) The accounting principle requiring that a company record the warranty expense in the same period that it records sales revenue is the:
A) going concern principle.
B) matching principle.
C) conservatism principle.
D) consistency principle.
33) Omaha Bank lends Nebraska Paper Company $100,000 on January 1. Nebraska Paper Company signs a $100,000, 8%, 6-month note. The entry made by Nebraska Paper Company on January 1 to record the proceeds and issuance of the note would include:
A) a debit to cash of $92,000.
B) a debit to interest expense of $8,000.
C) a credit to Notes Payable of $100,000
D) a credit to Interest Payable of $8,000.
34) Monthly sales were $200,000. Warranty costs are estimated at 4% of monthly sales. In the month of sale, the company should record a credit to:
A) Warranty Payable for $8,000.
B) Warranty Expense for $8,000.
C) Sales for $8,000.
D) Inventory for $8,000.
35) Tyler Company paid $1,500 cash to replace a wheel on equipment sold under warranty. The entry to record the payment would be to:
A) debit warranty expense and credit cash.
B) debit equipment expense and credit cash.
C) debit warranty payable and credit cash.
D) debit parts expense and credit cash.
36) Mitchell Corporation sells 4,000 units of inventory during the year for $500 each. The selling price includes a one-year warranty on parts. It is estimated that 3% of the units will be defective and that repair costs are estimated to be $50 per unit. In the year of sale, warranty contracts are honored on 80 units for a total cost of $4,000. What amount will be reported as Estimated Warranty Liability at the end of the year?
A) $4,000.
B) $2,000.
C) $6,000.
D) $0.
37) Michigan Bank lends Canton Furniture Company $100,000 on December 1. Canton Furniture Company signs a $100,000, 8%, 4-month note. The entry made by Canton Furniture Company on December 31 to record the accrued interest on the note would be:
A) a debit to interest expense and a credit to interest payable of $2,000.
B) a debit to interest payable and a credit to interest expense of $2,000.
C) a debit to interest expense and a credit to cash of $2,000.
D) a debit to interest payable and a credit to cash of $2,000.
38) Michigan Bank lends Canton Furniture Company $100,000 on December 1. Canton Furniture Company signs a $100,000, 8%, 4-month note. The total cash paid for interest (only) at maturity of the note is:
A) $6,000.
B) $8,000.
C) $4,000.
D) $32,000
39) Michigan Bank lends Canton Furniture Company $100,000 on December 1. Canton Furniture Company signs a $100,000, 8%, 4-month note. The total cash paid at maturity of the note is:
A) $108,000.
B) $106,000.
C) $100,000.
D) $104,000.
40) The journal entry to record accrued interest on a short-term note payable must include a debit to:
A) interest payable and a credit to cash.
B) interest expense and a credit to cash.
C) interest expense and a credit to interest payable.
D) interest payable and a credit to notes payable.
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