set 1 1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5) it has limited life its owner's personal resources are at stake its ownership is easily transferable via the sale of shares of stock it is simple to establish 2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5) the most common form of distribution is a cash dividend the Dividends account will be increased with a credit the Retained Earnings account will be directly increased with a debit the Dividends account will be decreased with a debit 3. (TCOs A, B) Below is a partial list of account balances for Denton Company: Cash $7,000 Prepaid insurance 700 Accounts receivable 3,500 Accounts payable 2,800 Notes payable 4,200 Common stock 1,400 Dividends 700 Revenues 21,000 Expenses 17,500 What did Denton Company show as total credits? (Points : 5) $30,100 $29,400 $28,700 $30,800 4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if i

QUESTION 1. PAGE ATC 8-1 (Pg. 391-392) please answer the questions below. You must use the textbook for a reference QUESTIONS 2 AND 3 MUST BE 200 WORDS. Please contact support team to get the books from the course

Strickland Co. currently charges manufacturing over-head costs to products using machine hours. However, company management believes that the use of ABC would provide more realistic cost estimates and, in turn, give the company an edge in pricing over its competitors. Strickland’s accountant and production manager have provided the following budgeted information for 2014, given a budgeted capacity of 1,000,000 machine hours:
A national construction company approached Pete Lang, the VP of marketing, about a bid for 2,500 doors. Lang asked the cost accountant to prepare a cost estimate for producing the 2,500 doors

4A. January 1, 2016, Brandon Company issued $100,000 of 5 year 9% bonds when the market rate of interest was 10%. Brandon received $96,149 for the bond issue. The bonds pay interest on July 1 and January 1. 4B. January 1,2016 ABC Company issues $100,000 of 5 year 9% bonds to yield $104,100 when the market rate of interest is 8%.The bonds pay interest on July 1 and January 1. . Requirements: Prepare all general journal entries for the 2 bonds issued and any interest accruals and payments for the fiscal year 2016. What is the carrying amount on the December 31, 2016 Balance Sheet for 4A. and 4B?

ACCOUNTING CYCLE PROBLEM The following is a trial balance and certain other information relating to Mr. I. Spend Freely, a financial consultant operating as a corporation. I. SPEND FREELY, FINANCIAL CONSULTANT TRIAL BALANCE DECEMBER 31, 2016 Debit Cash Accounts receivable Credit $ 31,500 49,600 Allowance for doubtful accounts $ Supplies Inventory 1,960 Prepaid insurance 1,100 Furniture & Equipment 750 25,000 Accumulated depreciation – equipment 6,250 Notes payable 7,200 Common stock 20,000 Retained earnings 15,010 Service revenue 100,000 Rent expense Salaries and wages expense 9,750 28,500 Utilities expense 1,080 Office expense 720 $149,210 $149,210 The following information is available as of December 31, 2016. 1. Fees were received in advance from clients and treated as revenue: $6,000 2. Services performed for clients that were not recorded by 12/31/16 or paid by clients: $4,900 3. Bad debt expense for the year: $1,430 4. Insurance premiums expired during the year: $480 5. Equ

Discuss each topic below. Must have at least one reference and be added in APA format for each topic. This is for a federal income taxation course and the two paragraphs must be relevant. A. Nontax Factors B. Discuss the principal forms

The following information is taken from the inventory records of the Britain Company: Beginning Inventory, 4/1/2015 7,000 units @ $22.00 Purchases: 4/5 6,000 units @ $22.65 4/26 9,000 units @ $24.00 Sales: 4/11 5,000 units 4/28 8,000 units 9,000 units were on hand at the end of April. (a) Assume that Britain Company uses a periodic inventory system and employs the average cost method, determine cost of goods sold for April and April’s ending inventory. (b) Assume that Britain Company uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for April and April’s ending inventory.

Question 01 (10 Marks) Segregation of duties is one of the most critical categories of internal control system. Comment. (Your answer should not exceed 100 words) Question 02 (10 Marks) In your opinion, what could be the best approach to document the internal control systems used by the auditors? (Your answer should not exceed 100 words)

The remaining fixed expenses are considered to be corporate-wide expenses that have been allocated to each product line based on sales revenue.The company is concerned about the performance of product A, and you have been asked to analyze the situation and recommend to the president whether to continue or discontinue the product. During your investigation, you discover that certain fixed expenses are traceable directly to each product line as indicated here:The segmented income statement for XYZ Company for the year ended December 31, 2016, follows: XYZ Company Segmented Income Statement For the year ended 12/31/2016 Total Company Product A Product B Product C Sales 615000 306000 123000 186000 variable expenses 276000 150000 55000 71000 contribution margin 339000 156000 68000 115000 fixed expenses 280000 162000 42000 76000 Operating income 59000 (6000) 26000 39000 The company is concerned about the performance of product A, and you have been asked to analyze the situation and recommend

Statement of Financial Position At December 31, 2014 (in thousands of euro) Assets Goodwill and intangible assets 1,210 Less: Accumulated depreciation (2,240) Total non-current assets (1,030) Current assets: Cash 5,300 Inventory 1,800 Total current assets 7,100 Total assets 6,070 Equity and Liabilities Shareholders' equity: Contributed capital 400 Total shareholders' equity 400 Total non-current liabilities 0 Current liabilities: Total current liabilities 0 Total liabilities 0 Total liabilities and shareholders' equity 400 Glücklich Golfspieler (GG) is a golf club company headquartered in Germany. The company began its 2014 fiscal year with assets totalling 10.0 million euro but ended the year (on December 31, 2014) with total assets of 13.2 million euro. Account balances on December 31, 2014, appear below (in thousands of euro). Accounts Payable 900 Accounts Receivable 460 Accrued Liabilities 990 Accumulated Depreciation 2,240 Buildings and Equipment 5,600 Cash 5,300 Contributed Capi