QUESTION 1. You are studying a set of financial statements prepared for the city of Baltimore. You find an asset listed as a building which is reported as $2.4 million. The statement also shows accumulated depreciation of $700,000 for a book value of $1.7 million. In which of the following are you not looking as […]
QUESTION Variable Costing: (spreadsheet assignment #3)March:Beginning inventory = 2,500 units $26,500 ($10,000 variable)Production = 32,000 unitsSales = 31,000 units @ $50 eachVMC (DM, DL, and VOH) = $129,600FMC = $300,000VS/A costs = $124,000FS/A costs = $550,000April:Beginning inventory = ?Production = 33,000 unitsSales = 34,000 units @ $50 eachVMC (DM, DL, and VOH) = $133,650FMC = […]
QUESTION For each separate case below, follow the 3-step process for adjusting the prepaid asset account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume […]
QUESTION Fredstone Consolidated, Inc. and Gradison Enterprises, Inc. are both real estate developers. Each entity owns a 50% general partner interest in Realty Partners, GP, a general partnership. Fredstone and Gradison each contributed $15,000 to form the partnership. The partnership uses the $30,000 contributed by the partners and a recourse loan of $100,000 obtained from […]
QUESTION DQ 1Discuss Americaâs transportation revolution that took place during the first half of the 1800s, including the development of roads, canals, railroads, and steamboats. How did they contribute to the âmarket revolution?â Elaborate.DQ 2Why did the Mexican War of 1846 take place? Was the war necessary? Was it a good thing? What does this […]
QUESTION DQ 1Explain how and why slavery developed in the American colonies. Why couldnât colonists use indentured servants as they had in the past? How would you describe the differences between slaves and indentured servants?DQ 2The colonies of New England, the Mid âAtlantic and the Upper and Lower South developed their own forms of culture, […]
QUESTION Please Review the documentary âSingapore: Biophilic Cityâ, which is on Blackboard. In general, each summary should be 3 to 5 pages long, double spaced, and font size 10 to 12.The written assignment should be in the following format:Paragraph 1: Give details on the documentaryTitle of documentaryIntended audienceParagraph 2: Explain the purpose of the documentaryWhat […]
QUESTION ennifer Cakes places a coupon in each box of its product. Customers may send in five coupons and $3, andthe company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of400,000 boxes of product were sold in 2014. It was estimated that 6% of the […]
QUESTION Martin & Sons is a small wholesale distributor of consumer goods. The company generates a gross margin of 27% of sales. Sales are 35% for cash and 65% on credit. Credit sales are collected in the month following sale, and accounts receivable on June 30, 2014 are the result of June credit sales. Actual […]
QUESTION By-product and cost allocationGeorgia Fresh raises peaches that, at harvest, are separated into three grades: premium, good, and fair. Joint cost is allocated to products based on bushels of output. The $337,500 joint cost for one harvest yielded the following output quantities.Product Output in BushelsPremium 16,500 Good 43,560 Fair 5,940The joint process also created […]
