Accounting Help for College and University Students

Will an expanding business need different financial statements?

A Small textile business, owned solely by the members of the families who started the business prepares it financial statements on a annual basis. Since they are a small business, they have very little debt, and the only reason why they prepare financial statements is for the annual tax returns. But lately they've been looking ...continues

Answers to Income tax accounting: Answers how to fill out personal income tax Form 1040, Schedules A, B, C and Form 2441.

Answers to Income tax accounting questions: Answers how to fill out personal income tax Form 1040, Schedules A, B, C and Form 2441.

Journalize entries for accounting homework

Journalize entries for the transaction using excel or word or any processing programs. The program is at this website (you might need to enlarge it): http://netprofitspro.com/acct.jpg

Accounting, Business Analysis, Finance

The following information relates to a business for a period. Selling price per unit: 100; Variable costs per unit: 60; Total fixed costs: 90,000; Net profit: 15,000. How many units were sold in the period? (Please see attachment for full question)

Cash Budgets

Please complete the entire problem for me, I am having difficulties. It is for problem 6-40 on attached page 212-213.

Accounting Break Even Questions

1. What is the breakeven point for the KDJ Inn? 2. If the fixed cost lease is traded for a variable lease of 20 percent of total sales, what is the revised breakeven point for the KDJ Inn? 3. If (independent of #2) the variable costs increase by 10 percent, by what percentage must sales increase in order for the KDJ Inn to ear ...continues

Process Costing: Weighted average method

Neil Inc. uses the weighted average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process 400 Stage of completion with respect to materials 90% Stage of ...continues

1. Journalize the entry to record the amount of the cash proceeds form the sale of bonds. 2. Journalize the entries to record the following a) The first semiannual interest payment on December 31, 2002, including the amortization of the bond premium using the straight line method. b) The interest payment on June 30, 2003, and the amortization of the bond premium using the straight line method. 3) Determine the total interest expense for 2002.

Morseby Inc. produces and sells voltage regulators. On July 1,2002, Morseby Inc. issued $8,000,000 of ten year , 11% bonds at an effective interest rate of 10%. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year for the company is the calender year. 1. Journalize the entry ...continues

Adjusted Trial Balance question

Below are some Financial Accounting Questions I have. The adjusted trial balance of Full Spectrum Color Laboratory at June 30, 19X9, after all adjustments, follows… Full Spectrum Color Laboratory Adjusted Trial Balance June 30, 19X9 Cash……………………………………………………………………$19, 350 Accounts receivable…………………………………………… 26, 4 ...continues

Financial analysis -assets and liabilities

The amounts of the assets and liabilities of Inkjet Supply Co. as of December 31, 19X4, and the revenues and expenses of the company for the year ended on that date follow. The items are listed in alphabetical order. Accounts payable………………………………………………………………$12, 000 Accounts receivable…………………………………………………………… 3, 000 Build ...continues