Acc Week 4 Assignment

1029 words - 5 pages

ACC 206 Week Two Assignment

Please complete the following exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

1. Analysis of stockholders' equity
Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow:

20X6
20X5
Preferred stock, $100 par value, 10%
$580,000
$500,000
Common stock, $10 par value
2,350,000
1,750,000

...view middle of the document...

Total borrowing cost over the life of the bond issue
720,000
756,000
675,000
d. Interest expense for the year ended December 31, 20X1
60,000
63,000
56,250
e. Amortization for the year ended December 31, 20X1
0
3,000
3,750
f. Unamortized premium as of December 31, 20X1
0
0
41,250
g. Unamortized discount as of December 31, 20X1
0
33,000
0
h. Bond carrying value as of December 31, 20X1
90,000
867,000
941,250

3. Definitions of manufacturing concepts
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:
Materials and supplies used
Brass $75,000
Repair parts 16,000
Machine lubricants 9,000
Wages and salaries Machine operators 128,000
Production supervisors 64,000
Maintenance personnel 41,000
Other factory overhead Variable 35,000
Fixed 46,000
Sales commissions 20,000

Compute:
a. Total direct materials consumed $75,000
b. Total direct labor 128,000
c. Total prime cost 203,000
d. Total conversion cost 339,000

4. Schedule of cost of goods manufactured, income statement
The following information was taken from the ledger of Jefferson Industries, Inc.:
Direct labor
$85,000

Administrative expenses
$59,000
Selling expenses
34,000

Work in. process:

Sales
300,000

Jan. 1
29,000
Finished goods

Dec. 31
21,000
Jan. 1
115,000

Direct material purchases
88,000
Dec. 31
131,000

Depreciation: factory
18,000
Raw (direct) materials on hand
Indirect materials used
10,000
Jan. 1
31,000

Indirect labor
24,000
Dec. 31
40,000

Factory taxes
8,000

Factory utilities
11,000
Prepare the following:
a. A schedule of cost of goods manufactured for the year ended December 31.
Beginning inventory direct material $ 31,000
Add purchases 88,000
Less ending inventory direct material (40,000)
Direct material used 79,000
Direct labor 85,000
Prime cost 164,000
Depreciation: factory 18,000
Indirect material 10,000
Indirect labor 24,000
Factory taxes 8,000
Factory utilities 11,000
Total manufacturing cost 235,000
Add beginning inventory work...

Other Essays Like Acc Week 4 Assignment

ACC 460 Week 3 Learning Team Ch. 4 & 6 Textbook Problems

603 words - 3 pages 1–4, found at the beginning of the Problems section at the end of the chapter. For this assignment, use the CAFR your team selected in Week Two. ACC 460 Week 3 Learning Team Ch. 4 & 6 Textbook Problems ACC 460 Week 3 Learning Team Ch. 4 & 6 Textbook Problems Product Description Resources: Ch. 4 & 6 of Government and Not-for-Profit Accounting Prepare written answers to the following problems from Government and Not-for

Mkt 571 Week 4 Quiz Complete Assignment Help

779 words - 4 pages education from last 5 years. This article covers the basic of MKT 571 Week 4 Quiz Assignment from UOP. Other topics in the class are as follows: MKT 571 Week 1 Quiz MKT 571 Week 2 Quiz MKT 571 Week 3 Quiz MKT 571 Week 4 Quiz MKT 571 Week 5 Quiz MKT 571 Week 6 Quiz MKT 571 Week 6 Final Exam Want to check other classes..?? Visit: www.assignmentehelp.com

Qnt 561 Week 4 Weekly Learning Assessments - Assignment

1964 words - 8 pages QNT 561 Week 4 Weekly Learning Assessments - Assignment Chapter 10 Exercise 2 [The following information applies to the questions displayed below.] A sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.01 significance level H0: μ ≤ 10 H1: μ > 10 1. Award: 10 out of 10.00 points a. Is this a one- or two

Qnt 561 Week 4 Weekly Learning Assessments - Assignment

1964 words - 8 pages QNT 561 Week 4 Weekly Learning Assessments - Assignment Chapter 10 Exercise 2 [The following information applies to the questions displayed below.] A sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.01 significance level H0: μ ≤ 10 H1: μ > 10 1. Award: 10 out of 10.00 points a. Is this a one- or two

Acc/225 Week 2 Assignment

840 words - 4 pages Week 2 “Preparing Journal Entries & Trial Balances” ACC225 Exercise 2-4 Date Account Title PR Debit Credit Aug 1 Cash 101 $7,500 Photography Equipment 165 $35,500 H. Paris, Capital 301 $43,000 Insurance 114 $3,000 Aug 5 Office Supplies 240 $1,400 Aug 20 Photography Fees Earned 623 $2,650 Aug 31 Utilities 275 $875 Exercise 2-5 Debit Credit Cash $7,500

Week 4 Assignment

842 words - 4 pages Club IT, Part II As a club that offers live music, dancing, and refreshments, the mission of Club IT is to “build a community that meets regularly at Club IT” (About Club IT, Our Mission Statement). The owners of Club IT, Ruben and Lisa, recognize that e-commerce is a market that other businesses within their trade have not taken advantage of. E-commerce is a market that is growing in popularity, and is becoming more and more common place

Week 4 Assignment Xeco212

815 words - 4 pages Maximizing Profits in Market Structures Name XECO/212 Date Instructor The three important market structures in economics are competitive markets, monopolies, and oligopolies. Each market plays a different role in the economy. Competitive markets are when no firm has the power to affect the market price of a good and “many buyers and sellers trading identical products so that each

Week 4 Assignment

2140 words - 9 pages • Budget management analysis is used by mangers as a tool and helps determine that all resources available are being used efficiently. The budgets are determined yearly and are based upon the previous year’s budget and variances. This paper will discuss specific strategies to manage budgets within forecast, compare five to seven expense results with budget expectations, describe possible reasons for variances, give strategies to keep results

Hsm 260 Week 4 Assignment

536 words - 3 pages ) $5,500. Step 3. The variable cost is now computed. The cost difference $5,500 is divided by the service volume of 1,400. The variable cost per unit of service is $3.93. Step 4. Total variable costs are now computed. In the low time period the number of meals provided is 3,500. The service volume is then multiplied by the cost per unit of $3.93. The total variable cost for the low month is $13,755. The same is done to figure the total variable

Law421 Week 4 Team Assignment

894 words - 4 pages University of Phoenix Material Business Entity Matrix Format Business Entity | Issue | | Characteristics | Formation | Liability | Taxation | Global Implications | Sole Proprietorship | One-person entity where debts and liabilities of the business are also personal debts and liabilities of the principal. Simplest form of business organization | No paperwork is required unless local licensing requirements-form to be filed if business

Week 4 Assignment Principles Of Economics

699 words - 3 pages Running Head: Essay Paper Fruit & Seeds nita brown Strayer University Mr. Kenneth Jones May 28, 2010 1 Why are some fruits sweet and some sour, whereas others have no specific taste? Each fruit has its own distinct taste, which will differ in some way form the taste of any other fruit. Fruits having more of fructose taste sweeter, while those having more acids taste sour

Related Papers

Week 4 Assignment Product Assessment

1798 words - 8 pages Running head: WEEK 4 ASSIGNMENT PRODUCT ASSESSMENT Week 4 Assignment Product Assessment Marketing 100 July 30, 2013 Introduction Many people enjoy listening to music nowadays for relaxation or to become more energetic. For whatever reasons a person enjoy music, it becomes an essential part of their lives. In a world where technology continues to grow the once popular music medium known as compact disc are now marked obsolete

Ethics 260 Week 4 Assignment

919 words - 4 pages Week 4 Assignment 1. The Mayor has a difficult decision on his hands. He must decide if land that houses a nursing home and senior citizen recreation center should be developed to house a large mall and resort. This new development would bring in $150 million a year from tourism and would create several hundred new jobs. By moving forward with the development would cause 30 people to be out of work and affect the lives of 100 senior citizens

Xmgt 216 Week 4 Assignment

1791 words - 8 pages Week 4 Assignment: Ethical Issues and Management Paper XMGT/216 Managers are expected to have a wide variety of skills, and businesses around the world expect managers to use their skills on a daily basis. Businesses look for managers that will be successful within the company, and to be successful, managers should make ethical decisions and abide by the laws protecting ethical behavior. Ethical dilemmas are a major

Bus 642 Case Assignment Week 4

1528 words - 7 pages Running Head: Case Assignment Week 4 Jada T. Smith BUS 642: Business Research Methods & Tools Instructor Donna Wall August 28, 2012 1. Advantages/disadvantages of survey and observations can be seen in data collection. In a survey specific question direct the data collection efforts. In observation studies the data collation is not guided. Observation can be very useful in the right situations though. Oppose to surveys