QUESTION GAAP requires that research and development (R&D) costs be treated as period expenses, prohibiting their capitalization. Because of this, when a company has an internally developed intangible asset, it does not show any value for it on its balance sheet. Only purchased intangibles, having a more identifiable value (cost) are carried as assets on […]
QUESTION DQ 1Monroe and Cox, in their article, “Pricing Practices That Endanger Profits,” provide eight pricing practices of companies that have a negative effect on profitability. Which do you consider the easiest to avoid or fix? Why? Explain your position using an example.DQ 2What factors would you want to consider in evaluating profitability if you […]
QUESTION 3.(TCO B) K Corporation’s partial income statement after its first year of operations is as follows: Income before Income Taxes $3,750,000Income Tax expense Current $1,035,000 Deferred 67,500 __________ 1,102,500 __________Net Income $2,647,500K uses the straight-line method of depreciation for financial reporting purposes and accelerated depreciation for tax purposes. The amount charged to depreciation expense […]
QUESTION The direct materials purchase budget is prepared after the production budget. It estimates the raw material needed to achieve a desired level of production. The required production for the year is 1st quarter 10,461 units; 2nd quarter 10,950 units; 3rd quarter 11,120 units; and 4th quarter 14,295 units. Each unit requires 3 gallons of […]
QUESTION DQ 1Refer to “Standards of Practice” on the American Association of Advertising Agencies website (.aaaa.org/about/association/pages/standardsofpractice.aspx”>http://www.aaaa.org/about/association/pages/standardsofpractice.aspx) and “Advertising Ethics and Principles” on the American Advertising Federation website (.com/wp-content/uploads/2014/10/Principles-and-Practices-with-Commentary.pdf”>http://aaftl.com/wp-content/uploads/2014/10/Principles-and-Practices-with-Commentary.pdf). What do you take from them? Are such statements effective? Why or why not?DQ 2How would a brand name like Kodak, Disney, or Coca Cola create customer […]
QUESTION ACCOUNTING PRACTICE QUESTIONS During 2013, a corporation purchased machinery costing $200,000 and a warehouse costing $600,000. These are the only two acquisitions of depreciable property purchased by the corporation in 2015. The maximum deduction the corporation can claim under Code Sec. 179 in 2015 is: a. $500,000 b. $800,000 c. $25,000 d. $200,000 4. […]
QUESTION 5.5 – Homework AssignmentDue Sunday by 11:59pmPoints 100Submitting a file uploadSelect a Fortune Top 50 Company, then select a firm within that company.Discuss which of Porterâs Business Strategies this firm follows to stay competitive.Explain why you think it is the best business strategy to take, or should the Company change to another business strategy.Please […]
QUESTION Question:Problem 23-8 (Wiley PLUS)P23-8 (SCFâDirect and Indirect Methods) Comparative balance sheet accounts of Sharpe Company arepresented below.SHARPE COMPANYCOMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31Debit Balances 2014 2013Cash $ 70,000 $ 51,000Accounts Receivable 155,000 130,000Inventory 75,000 61,000Investments (available-for-sale) 55,000 85,000Equipment 70,000 48,000Buildings 145,000 145,000Land 40,000 25,000Totals $610,000 $545,000Credit BalancesAllowance for Doubtful Accounts $ 10,000 $8,000Accumulated […]
QUESTION ACC 306 Assignment 1Your service is to review the books of Dominic Consulting and advise Dominic of any corrections needed. Using your accounting knowledge you will describe an important outcome of the company’s performance shown in three statements: the Profit & Loss Statement, the Balance Sheet, and the Statement of Cash Flows.Dominic Consulting is […]
QUESTION Which of the following statements is incorrect?Accepting a special order will involve incurring unit-level costs.An outsourcing decision typically affects unit-level and batch-level costs but not product-level costs.Eliminating a business segment often allows a company to avoid some facility-level costs.Facility-level costs generally are not relevant in special order decisions. ANSWER: REQUEST HELP FROM A […]
