Question This question was created from financial accounting https://www..com/file/14264192/financial-accounting/ FASB ASC 3-1 IASB and GAAP Search the FASB ASC database to determine if International Accounting Board pronouncements are considered GAAP. Cite and copy your answer. ATTACHMENT PREVIEW Download attachment 14264192-325868.jpeg . FASB ASC 3-1 IASB and GAAP Search the FASB ASC database to determine if International Accounting Board pronouncements are considered GAAP. Cite and copy your answer.
Question CF Manufacturing purchased inventory for $5,300 and also paid a $280 freight in bill 2/10, net 30. CF Manufacturing returned 60% of the goods to the seller and paid the bill within the discount period. What is the final inventory cost?Select one:a. $2,187.36b. $2,352.00c. $2,357.60d. $3,460.00
Question Evan Company reports net income of $192,000 each year and declares an annual cash dividend of $90,000. The company holds net assets of $1,830,000 on January 1, 2017. On that date, Shalina purchases 40 percent of Evan’s outstanding common stock for $862,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalina’s cost over its proportionate share of Evan’s book value was assigned to goodwill. On December 31, 2019, what is the Investment in Evan Company balance (equity method) in Shalina’s financial records?Multiple Choice
Question Breakeven Cash Inflows. The Sleek Ring Company, a leading producer of fine cast silver jewelry, is considering the purchase of new casint equipment that will allow it to expand its product line. The up-front cost of the equipment is $690,000. The company expects the equipment to produce steady income throughout its 15-year life. a. If Sleek Ring requires an 8% return on its investment, what minimum year cash inflow will be necessary for the company to go forward with this project?b. b. How would the minimum yearly cash inflow change if the company required an 11% return on its investment? a. Breakeven annual cash inflow is the cash inflow that, for the given project life, upfront cost, and cost of capital, makes NPV zero. To find that cash inflow, you should use the PMT function in Excel: Discount rate = Number of periods = present value= Solve for PMT= b. To find the breakeven cash inflow with an 11% discount rate, substitute 0.11 for 0.08 in your Excel Equation: Discount rate= Number of periods= present value= Solve for PMT=
Question Watch the short video on creating a budget in Excel located at https://www.youtube.com/watch?v=AZbWLu5zzAoAfter review the video, identify two things you learned about how Excel can be used in the budgeting process. Explain how you think those two pieces of information can be used by managers in organizations.
Discussion Topic: BudgetingRead Concepts in Action, “24 Hour Fitness and Internet-Based Budgeting” in Chapter 6.add reference
Prepare a journal entry using excel and prepare a 2 – 3 page document based on the journal entry. Assignment details are attached.
On 1/1/xx, Company A purchases 100% of Company B for $100,000 cash. On 12/31/xx, Company B realizes profit of $20,000 and pays dividends of $5,000.Using the ACT470_Mod01-Option01.xlsx Excel spreadsheet in the Module 1 folder, you are to:Submission Requirements:NOTE: As it is necessary in the accounting field to annotate workpapers to support conclusions, the critical thinking assignments will provide the opportunity to clearly annotate and explain your responses in an effort for you to refine this skill.
Question 1) Monitoring operations and keeping the company on track is part of the A.controlling function.B.planning function.C.strategic function.D.directing function.2) The wages of factory janitors are considered to be direct labor costs because they are directly related to the manufacturing process.TrueFalse3)4) A cellular phone manufacturer is more likely to use a process costing system rather than job order costing.TrueFalse5) A production cost report helps managers identify the costs that can be reduced in the production process.TrueFalse6) When calculating the cost per equivalent unit in process costing, what is the difference between the weighted-average and FIFO methods?A.With weighted-average, prior period costs are not combined with current period costs.B.There is no difference between the two methods.C.With FIFO, prior period costs are not combined with current period costs.D.With FIFO, prior period costs are combined with current period costs. ATTACHMENT PREVIEW Download attachment ss.png Vermont State, Inc. used $153,000 of direct materials and incurred $52,500 of direct labor costs during the year. Indirect labor amounted to $2?0,000_ while indirect materials used totaled $53,600. Other operating costs pertaining to the factory included utilities of $133,500; maintenance of Sit-1,140.00; repairs of $52,750; depreciation oi $131 .000; and property taxes of $?0.360. There was no beginning or ending ﬁnished goods inventory. but Work—in—Process inventory began the year with a $5,100 balance and ended the year with a $1900 balance. How much is the cost of goods manufactured? O A. $998,050 0 B. 51000350 0 C. $13,000 0 D. $1,005,950
Question Present values
Question a. Calculate the ROI for Fruta in 20X6 and 20X7. />b. You feel quite strongly that you have done a much better job than the previous manager and suggest to the CEO that he should consider residual income (RI) as an alternative performance measure. Wholesale Fruits’ minimum required rate of return is 16%. Calculate the RI for Fruta in 20X6 and 20X7. If RI were used by the CEO, whose performance would be better? c. Explain and justify the lower ROI in 20X7 compared to that in 20X6. d. You find out that in 20X6 the previous manager was presented with an investment opportunity that would have required a €500,000 investment and that would have provided net operating income of €90,000. Explain fully why the previous manager refused to undertake this investment. e. You had convinced the CEO that RI is a better performance measure than ROI. However, the CEO recently found out that one of your competitors had a net operating income of €5,000,000 on a total of €25,000,000 in average assets employed during 20X7. As a result, the CEO is still unhappy with your 20X7 performance. Using the same minimum required rate of return as Wholesale Fruits, calculate the RI of this competitor. How are you going to respond to the CEO’s criticisms? ATTACHMENT PREVIEW Download attachment WechatIMG272.jpeg In January of 20X7, the division manager of the Fruta Division retired after 15 yea rs to start a bookkeeping business. The chief executive officer (CEO) of Wholesale Fruits appointed you as the new division manager of Fruta. After assuming your n ew position, you discovered that most of Fruta’s manufacturing equipment neede d to be replaced. You also found out that at the end of 20X7, the previous division manager had disposed of some of the plant and equipment. In order to increase e fficiency, you made a large investment to replace the obsolete equipment and to u pdate the facilities. In 20X7, on a total of $4,000,000 of average assets employed, the division reported net operating income of E735,000. The CEO of Wholesale Fruits uses return on investment (ROI) to evaluate the perfo rmance of his division managers. He feels that your performance in running Fruta is not as good as the previous manager’s since the 20X7 ROI is much lower than i t was in 20X6. Required a. (2 marks) Calculate the ROI for Fruta in 20X6 and 20X7. b. (2 marks) You feel quite strongly that you have done a much better job than the previous m anager and suggest to the CEO that he should consider residual income (RI) as an Management Accounting Fundamentals Assignment 9 . 1 alternative performance measure. Wholesale Fruits’ minimum required rate of retu rn is 16%. Calculate the RI for Fruta in 20X6 and 20X7. If RI were used by the CEO, whose per formance would be better? c. (4 marks) Explain and justify the lower ROI in 20X7 compared to that in 20X6. d. (6 marks) You find out that in 20X6 the previous manager was presented with an investmen t opportunity that would have required a 500,000 investment and that would hav e provided net operating income of E90,000. Explain fully why the previous mana ger refused to undertake this investment. e. (6 marks) You had convinced the CEO that RI is a better performance measure than ROI. Ho wever, the CEO recently found out that one of your competitors had a net operatin g income of E5,000,000 on a total of E25,000,000 in average assets employed dur ing 20X7. As a result, the CEO is still unhappy with your 20X7 performance. Using the same minimum required rate of return as Wholesale Fruits, calculate th e RI of this competitor. How are you going to respond to the CEO’s criticisms?
Question Angie Ghent a local prominent Business Angel has expressed a keen interest in Razor Wire Productions (“RWP”), a large manufacturing of industrial fencing products. Angie estimates that RWP will have after tax earnings of $3.5 million in 2020 (year 1), $4.75 million in 2021, and $9.25 million in 2022 (year 3). In 2022 RWP is expected to have about 8.12 ROA, $12 million in total debt, and approximately $14 million in capital assets. Angie intends to value the firm as of year 2022 (her expected timeframe for exiting the investment) and is using an earnings multiple of 9 times. Angie’s required rate of return is 60%. The US tax rate is expected to remain constant at 21% for foreseeable future. Ralph Smithson owns RWP. Ralph is the sole owner and has 1.75 million shares of stock. If Angie invests $4 million into the RWP what percentage ownership of RWP should Angie receive in return? Also, how many shares of stock and at what stock price should be issued to Angie upon closing the deal with Ralph Smithson?
Question The American Acupunture Association offers continuing professional education courses for its members at tis annual meeting. Instructors are paid a fee for each student attending their courses but are charged a fee for overhead costs that is deducted from their compensation, Overhead costs include fees paid to rent instructional equipment such as overhead projectors, provide supply to participants, and offer refreshments during coffee breaks. The number of course offered is used as the allocation base for determining the overhead charge. For example, if overhead costs amount to $5000 and 25 course are offered, each course is allocated an overhead charge of $200 ($5000/25). Heidi McCarl who taught one of the course, received the following statement with her check in payment for instructional servicesInstruction fee (20 students, $50) $10000less; overhead ($200)less: charge for sign language assistance (240)Amount due instructor $560Although Ms. McCarl was well aware that one of her students was deaf and required a sign language assistant, she was surprised to find that she was required to absorb the cost of this serviceA. Given the American with Disabilities Act stipulates that the deaf student cannot be charged for the cost of providing sign language, who should be required to pay the cost of sign language services?B. Explain how allocation can be used to promote fairness in distrubuting service costs to people with disabilities. Describe two way to treat the $240 cost of providing sign language services that improve fairness
Question make a financial analysis of this company alt=”Screen Shot 2019-07-09 at 2.04.20 PM.png” /> Attachment 1 Attachment 2 ATTACHMENT PREVIEW Download attachment Screen Shot 2019-07-09 at 2.04.20 PM.png Column1 V 2018 2017 2016 current assets: Dollars in millions cash and equivalents 4,249 3,808 3,138 short term investments 996 2,371 2,319 accounts receivable 3,498 3,677 3,241 inventory 5,261 5,055 4,838 other 240 217 489 total current assets 14,244 15,128 14,025 Fixed Assets: tangible assets 4,454 3,989 3,520 Goodwill 154 139 131 intangible assets 285 283 281 financial investments other 4,487 5,303 4,455 total fixed assets 9,380 9,714 8,387 total assets 23,624 24,842 22,412Read more ATTACHMENT PREVIEW Download attachment Screen Shot 2019-07-09 at 2.04.30 PM.png 2018 2017 2016 Current liabilities accounts payable 2,279 2,048 2,191 financial debt 6 6 89 other 677 552 578 total current liabilities 2,962 2,606 2,858 Long-term liabilities long term debt 3,468 3,471 1,993 other liabilities 3,216 1,907 1,770 total long-term liabilities 6,684 5,378 3,763 total liabilities 9,646 7,984 6,621 Column1 Column2 Column3 Column4 2018 2017 2016 Stockholder’s equity common stock 3 3 3 retained earnings 3,517 6,907 4,151 capital surplus 6,384 5,710 7,786 other (92) (213) 318 total equity 9,812 12,407 12,258 total liabilities
Question make a financial analysis of this ratios ATTACHMENT PREVIEW Download attachment Screen Shot 2019-07-09 at 2.04.40 PM.png 2018 2017 2016 Financial ratios Return on equity 17.40% 34.40% 30.10% return on assets 8.40% 19% 17.50% Inventory turnover 4 3.8 3.8 current ratio 2.5 2.9 2.8 P/E ratio 61.4 21.1 25.6
Question This is my first time posting here so I do not know how to attach the word/excel file so I added the link to google doc/sheets. I need help with this assignment.Instructions:https://docs.google.com/document/d/1YAjUpHMzHWMEAGoyyHj_HFPmEp64FtgN_XeejDSveuM/edit?usp=sharingData:https://docs.google.com/spreadsheets/d/1XWf885lHgXsVQp2IjkMT2P-GoqUikJ2z_VIM5ySchS8/edit?usp=sharing
Question · You are planning to invest $ 2,500 today for three years at a nominal interest rate 9 percent with annual compounding. What would be the future value of your investment?· Now assume that inflation is expected to be 3 percent per year over the same three-year period.what would be the investment future value in terms of purchasing power?· What would be the investment future value in terms of purchasing power if inflation occurs at a 9 percent annual rate?
Question · what is the meaning money has a time value attached to it? How does interest rate affect the time value of money? o Simple vs. compound interesto Fixed interest Rates vs.Variable interest rates· what is The specific decision for which you used time value of money· what is The manner in which you applied the concept.· what is The tools you used to complete the analysis, including the timeline.· Give an explanation decision than if time value of money had you reach a more accurate decision than if time value of money had not been utilized.· Determine the present value of $75,000 discounted at 6% over 6 years.· Determine the present value of $100,000 invested today at 4% for 5 years.· Determine what monthly payment will need to be invested if you have $ 10,000 today and want it to grow to $100,000 over 20 years at 4.5 %.
Question Analysis of the use of planning tools and their application for preparing and forecasting budgets
Question I am doing research for Under Armour and I am trying to find out how the new FASB is impact the company.
Question Phipps Inc. is a large scale bakery that had been operating in its original facility since 1960. The increase in designer cakes and the popularity of cooking shows on cable has contributed to an annual growth rate of 15% for Phipps since 2013. Phipps’ original facility became obsolete by early 2017 because of the increased sales volume and the fact that Phipps markets their bakery products world-wide.On July 1, 2017, Phipps contracted with Cakes Construction to have a new bakery constructed for $2,000,000 on land owned by Phipps. The payments made by Phipps to Cakes Construction are shown in the schedule below: Date Amount ————- —————- Aug 1, 2017 $500,000 Nov 30, 2017 $840,000 Apr 30, 2018 $660,000 Total Pmnts $2,000,000Construction was completed and the building was ready for occupancy on April 29, 2018. Phipps had no new borrowings directly associated with the new building but had the following debt outstanding at April 30, 2018, the end of its fiscal year. 8%, 10-year note payable of $1,000,000, dated January 1, 2014, with interest payable annually on December 31. 6%, 20-year bond issue of $2,000,000 sold at par on July 1, 2003, with interest payable annually on June 30.The new building qualifies for interest capitalization. The effect of capitalizing the interest on the new building, compared with the effect of expensing the interest, is material.(a) Compute the weighted-average accumulated expenditures on Phipps’ new building during the capitalization period.(b) Compute the avoidable interest on Phipps’ new building(c) Some interest cost of Phipps Inc. is capitalized for the year ended April 30, 2018. (1) Identify the items relating to interest costs that must be disclosed on Phipps’ financial statements. (2) Compute the amount of each of the items that must be disclosed.
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