Accounting

Investment Opportunities of Alex Myrick Accounting Help   1.Using net present value and payback period to evaluate investment opportunities:   Alex Myrick saved $400,000 during the 25 years that he worked for a major corporation. Now he has retired at the age of 50 and has begun to draw a comfortable pension check every month. He wants to ensure the financial secu...

Comparative statements of Osborne Company Assignment Help   1.The comparative statements of Osborne Company are presented here:   OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,892,491 $1,752,451 Cost of goods sold 1,060,491 1,007,951 Gross profit 832,000 744,500 Se...

Ricardo Construction Journal Entries Assignment Help   1.Ricardo Construction began operations on December 1. In setting up its accounting procedures, the company decided to debit expense accounts when it prepays its expenses and to credit revenue accounts when customers pay for services in advance. Prepare journal entries for items a through d and the adjusting entries...

Hosung Company’s Cash account Assignment Help   1.Hosung Company’s Cash account shows a balance of $801.65 as of August 31 of this year. The balance on the bank statement on that date is $1,383. Checks for $260.50, $425.10, and $331.00 are outstanding. The bank statement shows a check issued by another depositor for $237.25 (in other words, the bank made an error and cha...

Hillyard Company Accounting Help With Solution   1.As of December 31 (the end of the prior quarter), the company’s general ledger showed the following account balances:   Cash $ 45,000 Accounts receivable 204,000 Inventory 58,500 Buildings and equipment (net 355,000 Accounts payable $ 86,625 Common st...

O'Brian's Department Stores Assihnment Help   1.O'Brian's Department Stores allocates the costs of the Personnel and Payroll departments to three retail sales departments, Housewares, Clothing, and Furniture. In addition to providing services to the operating departments, Personnel and Payroll provide services to each other. O'Brian's allocates Personnel Department costs...

Exchange rate between US$ & Euro Assignment Help with Solution The exchange rate between the U.S. dollar (US$) and the euro (€) remained constant at €1.00 = US$1.50 throughout 2011. Elizabeth Welch (a U.S. citizen) lives and works in France. In 2011, she earned income in France of €100,000, and paid taxes to the local government at the rate of 40 percent. Welch qualifies f...

John Ting Concert Assignment Help With Solution John Ting, Event Manager of Vision Music, schedules concerts for local bands and creates CDs and T-shirts to sell at each concert. Vision Music uses a normal-costing system with two direct-cost pools, labour and materials, and one indirect-cost pool, general overhead. General overhead is allocated to each concert based on 120% of...

Vantage Manufacturing Plant Assignment Help With Solution   Jacob Hong, the new plant manager of Vantage Manufacturing Plant Number 5, has just reviewed a draft of his year-end financial statements. Hong receives a year-end bonus of 8% of the plant’s operating income before tax. The year-end income statement provided by the plant’s controller was disappointing to say the...