24 why do organizations use budgeted rates instead of actual rates to allocate the c 4302794

 

24) Why do organizations use budgeted rates instead of actual rates to allocate the costs of support departments to each other and to user departments and divisions? Explain.

 

14.4   Evaluate and select among three cost allocation methods for a product-sustaining inventoriable period cost and a facilities-sustaining period cost.

 

1) The direct allocation method ignores any services rendered between support departments.

 

2) The step-down allocation method allows partial recognition of services rendered by support departments to other support departments.

 

3) The reciprocal allocation method does not incorporate interdepartmental relationships fully into the support department cost allocations.

 

4) The direct allocation method provides key information for outsourcing decisions regarding support services.

5) The step-down method allocates support department costs to other support departments and to operating departments in a sequential manner.

 

6) The reciprocal method of support department cost allocation is the most precise method and therefore is used most often.

 

 

7) To discourage excessive use of a support department, management might

A) not allocate any costs of the support departments.

B) allocate costs based on user department usage.

C) allocate a fixed amount to each department regardless of use.

D) expense fixed costs of support departments directly to the income statement.

E) create special accounting records for the support department.

 

 

 

11 how does sustainability accounting impact people a accountants collect the same t 4310779

11) How does sustainability accounting impact people?

A) Accountants collect the same type of data.

B) Customers expect more people-friendly products.

C) Vendors may be asked to provide less energy efficient products.

D) Employees will not need to modify business processes.

12) How does sustainability accounting impact technology?

A) Sustainability accounting has no impact on technology.

B) IT components may be redesigned to reduce or eliminate various heavy metals.

C) Data needs to be stored for longer periods of time.

D) Companies will place more dependance on paper and less dependance on computers.

13) E-cycling is

A) A transaction cycle of a purchase over the Internet

B) The recycling of electronics, such as computers and cellular phones

C) The improper disposal of electronic waste

D) Something that has little impact on IT hardware purchases

14) What does enterprise carbon accounting measure?

A) The reduction of carbon emissions resulting from a corporation's process redesign

B) The impact of recycling on corporate profits

C) Consumer awareness of carbon emissions

D) The amount of carbon emissions resulting from a corporation's operations and activities

15) What new perspective does sustainability require of corporations?

16) How does sustainability accounting impact people?

question answer the questions and show your work thank you bonds and investments the 4305501

Question

Answer the questions and show your work, thank you.

bonds and investments. The stock (shares) are treated the same securities the debt investment (bonds) are treated as as trading b standard that just got available for sale securities to a new issued Filmy had the following investment activities in 2016 March 2 Bought shares of Inkin for $21 million April 1 Bought 10% bonds of MKI for $20 million at face value. June 12 Received a dividend of $10,000 from the Inkin investment. October 1 Received interest on the MKI bonds for $1 million October 15 Sold the Inkin investment for 21.2 million November 18 Bought Jones Corp shares for $40 million December 31 MKI bonds have a market value of $23 million Jones Corp shares have a market value of $38 million Required 1) Do the adjusting entry for the bond interest at this date 2) the adjusting entries for the change in market value of the investments. 3) Show balances for the Income Statement, Balance Sheet and Statement of Comprehensive Income for end of 2016 4) Do the closing entries for 2016

11 the entry to record the payroll tax expense would include a a credit to federal i 4302885

 

11) The entry to record the payroll tax expense would include:

A) a credit to Federal Income Taxes Payable.

B) a credit to Cash.

C) a credit to FICA (OASDI and Medicare) Taxes Payable.

D) a credit to Wages Payable.

 

12) The employer's total FICA, SUTA, and FUTA tax is recorded as:

A) a debit to Payroll Tax Expense.

B) a credit to Payroll Tax Expense.

C) a credit to Payroll Tax Payable.

D) a debit to Payroll Tax Payable.

13) Which of the following statements is false?

A) Payroll Tax Expense is an expense account.

B) FICA-Social Security Tax Payable increases on the credit side of the account.

C) Payroll Tax Expense increases on the debit side of the account.

D) SUTA Tax Payable increases on the debit side of the account.

 

14) Which of the following statements is true?

A) Payroll Tax Expense increases on the debit side of the account.

B) FICA-Social Security Tax Payable is a liability.

C) Payroll Tax Expense has a debit normal balance.

D) All of these answers are correct.

 

15) As the Prepaid Workers Compensation is recognized, the amount will transfer to:

A) Workers Compensation Insurance Payable.

B) Workers Compensation Insurance Expense.

C) Cash.

D) Payroll Tax Expense.

16) Grammy's Bakery had the following information for the pay period ending June 30:

 

Employee Name

Pay

rate

Hours worked

Cumulative earnings

Department

Federal income tax withheld

P. Ganster

$ 2,000

Salaried

$ 12,000

Kitchen

$ 86.00

T. Baker

10.00/hr

50

6,500

Office

22.00

 

Assume:

FICA-OASDI applied to the first $106,800 at a rate of 6.2%.

FICA-Medicare applied at a rate of 1.45%.

FUTA applied to the first $7,000 at a rate of 0.8%.

SUTA applied to the first $7,000 at a rate of 5.6%.

State income tax is 3.8%.

 

Given the above information, what would be the amount applied to Office Salaries Expense?

A) Debit $550

B) Credit $550

C) Debit $500

D) Credit $500

 

17) Grammy's Bakery had the following information for the pay period ending June 30:

 

Employee Name

Pay

rate

Hours worked

Cumulative earnings

Department

Federal income tax withheld

P. Ganster

$ 2,000

Salaried

$ 12,000

Kitchen

$ 86.00

T. Baker

10.00/hr

50

6,500

Office

22.00

 

Assume:

FICA-OASDI applied to the first $106,800 at a rate of 6.2%.

FICA-Medicare applied at a rate of 1.45%.

FUTA applied to the first $7,000 at a rate of 0.8%.

SUTA applied to the first $7,000 at a rate of 5.6%.

State income tax is 3.8%.

 

Given the above information, what would be the amount applied to Kitchen Salaries Expense?

A) Debit $12,000

B) Credit $12,000

C) Debit $2,000

D) Credit $2,000

18) Great Lakes Tutoring had the following payroll information on February 28:

 

Employee

Gross Pay

Cumulative Earnings Prior to this Payroll

R Hill

$4,000

$4,000

 

Assume:

FICA tax rates are: OASDI 6.2% on a limit of $106,800 and Medicare 1.45%

State Unemployment tax rate is 2% on the first $7,000

Federal Unemployment tax rate is 0.8% on the first $7,000

 

Using the information above, the journal entry to record the payroll tax expense for Great Lakes Tutoring would include:

A) a debit to Payroll Tax Expense in the amount of $390.

B) a credit to FUTA Payable for $24.

C) a credit to SUTA Payable for $60.

D) All of the above are correct.

19) Great Lakes Tutoring had the following payroll information on February 28:

 

Employee

Gross Pay

Cumulative Earnings Prior to this Payroll

R Hill

$4,000

$4,000

 

Assume:

FICA tax rates are: OASDI 6.2% on a limit of $106,800 and Medicare 1.45%

State Unemployment tax rate is 2% on the first $7,000

Federal Unemployment tax rate is 0.8% on the first $7,000

 

Using the information above, the journal entry to record the employee's tax expense would include:

A) a debit to Payroll Tax Expense in the amount of $4,000.

B) a debit to Wages and Salaries Expense in the amount of $4,000.

C) a credit to Cash in the amount of $4,000.

D) a credit to FUTA Payable for $24.

20) Wages and Salaries Expense is:

A) equal to net pay.

B) equal to gross pay.

C) equal to the employer's taxes.

D) None of the above are correct.

 

 

 

topic journal entries to yield government wide financial statements from fund financ 4314304

Topic:Journal Entries to Yield Government-Wide Financial Statements from Fund Financial Statements

LO: 2

3.The City of Mundeleinis preparing its Government-Wide financial statements for the year. Its accountant must prepare a number of journal entries to recognize assets and liabilities previously omitted from the Fund financial statements and to recognize revenues and expenses for the year under accrual accounting that were not recognized under the current financial resources measurement focus and the modified accrual basis of accounting used to prepare the Statement of Revenues, Expenditures, and Changes in Fund Balances for its Funds.The accountant identifies the following journal entries that must be made:

1.Recognize Capital Assets of $105,376 as of the beginning of the year.

2.Record Depreciation Expense of $5,268 for the year and reverse Expenditures of $6,322 for Capital Outlays during the year.

3.Recognize $14,000 of Bonds Payable as of the beginning of the year.

4.Reverse Other Financing Sources of $4,000 and Expenditures – Debt Payments of $1,400 relating to increases and decreases in the bond liability during the year.

5.Reverse Deferred Revenue of $14,430 as of the beginning of the year.

6.Reverse $722of Deferred Revenue recognized during the year.

7.Recognize Compensated Absences of $2,108 as of the beginning of the year and an increase in that liability of $106during the year.

8.Recognize $40 of Accrued Interest Payable as of the beginning of the year and an increase in that liability of $66during the year.

9.Recognize a liability of $2,898 relating to the City’s landfill as of the beginning of the year. The estimate for this liability did not change during the year.

Required:Prepare journal entries for each of the items above.

 

question cal state la connect e loose leaf for managerial aux e 4305096

Question

Cal State LA Connect e Loose Leaf For Managerial AUX e https//newconnect.mheducation.com/flow/connect.htm D add from anywhere Yahoo Apple t Disney ESPN Imported From Safari Child Development C How to Apply for a Find a Doct Saved mework 6 Help Save & Exit Sub Check my wo Magic Realm, Inc.,. has developed a new fantasy board game. The company sold 57,000 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $1,045,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor Variable expenses consist mostly of payments to this contractor Required 1-a. Prepare a contribution format income statement for the game last year 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 71,820 games next year (an increase of 14,820 games, or 26%. over last year) Given this assumption a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer) Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Prepare a contribution format income statement for the game last year.

 

question at murray company events and transactions during 2016 includedthe following 4305443

Question

At Murray Company, events and transactions during 2016 includedthe following. The tax rate for all items is 30%.

(1)   Depreciation for 2014 was found to be understatedby $60,000.

(2)   A strike by the employees of a supplier resulted ina loss of $40,000.

(3)   The inventory at December 31, 2013 was overstatedby $70,000.

(4)   A flood destroyed a building that had a book valueof $1,000,000. Floods are very uncommon in that area.

(5)    A loss of $60,000 from sale ofinventory.

           The effect of these events and transactions on 2016 income fromcontinuing operations net of tax would be

multiple choice 1 a n is a measure that individuals or organizations take to block a 4309609

Multiple Choice

1) A(n) ________ is a measure that individuals or organizations take to block a threat from obtaining an asset.

A) Hadoop

B) safeguard

C) information silo

D) third-party cookie

2) Which of the following types of security loss is WikiLeaks an example of?

A) unauthorized data disclosure

B) incorrect data modification

C) faulty service

D) denial of service

3) A person calls the Stark residence and pretends to represent a credit card company. He asks Mrs. Stark to confirm her credit card number. This is an example of ________.

A) hacking

B) data mining

C) pretexting

D) sniffing

4) A ________ pretends to be a legitimate company and sends emails requesting confidential data.

A) hacker

B) phisher

C) drive-by sniffer

D) key puncher

5) Mark receives an email from his bank asking him to update and verify his credit card details. He replies to the mail with all the requested details. Mark later learns that the mail was not actually sent by his bank and that the information he had shared has been misused. Mark is a victim of ________.

A) hacking

B) sniffing

C) data mining

D) phishing

6) Which of the following is a synonym for phishing?

A) drive-by sniffing

B) email spoofing

C) IP spoofing

D) system hacking

7) ________ is a technique for intercepting computer communications.

A) Spoofing

B) Hacking

C) Pretexting

D) Sniffing

8) ________ take computers with wireless connections through an area and search for unprotected wireless networks.

A) Drive-by sniffers

B) Key punchers

C) Hackers

D) Phishers

9) Breaking into computers, servers, or networks to steal proprietary and confidential data is referred to as ________.

A) usurpation

B) spoofing

C) hacking

D) sniffing

10) Which of the following occurs when millions of bogus service requests flood a Web server and prevent it from servicing legitimate requests?

A) spoofing

B) hacking

C) usurpation

D) DOS attack

ex 4 108 statement of changes in equity totelltd reported the following balances at 4315590

Ex. 4-108Statement of changes in equity

TotelLtd. reported the following balances at January 1, 2017:

Common shares…………………………………$370,000

Retained earnings………………………………..70,000

Accumulated other comprehensive income………………71,000

During the year Tote earned net income of $310,000 and generated other comprehensive income of $64,000.

Instructions

Prepare a statement of shareholders’ equity for the year ended December 31, 2017.

Ex. 4-109Statement of retained earnings

Mondial Corporation prepares financial statements in accordance with ASPE.At January 1, 2017, the company had retained earnings of $420,000.In 2017, net income was $1,737,000, and cash dividends of $360,000 were declared and paid.

Prepare a 2017 statement of retained earnings for Mondial Corporation.

21 on february 3 2012 granger corporation acquired 4 000 shares of its own 1 par val 4310557

21) On February 3, 2012 Granger Corporation acquired 4,000 shares of its own $1 par value common stock for $30 per share. On May 24, 2012, 1,500 shares of the treasury stock were sold for $35 per share.

Prepare the journal entries to record the purchase and sale of the treasury stock.

22) On February 2nd of the current year, Bradley's Video Games, Inc. reacquired 5,000 shares of its $10 par value common stock at $50 per share. On February 23rd, Bradley's Video Games, Inc. sold 1,000 of the reacquired shares at $65 per share. On February 27th, the remaining 4,000 shares were sold at $40 per share.

Required:

1.Prepare the journal entries necessary to record these transactions.

2.What is the balance in the treasury stock account on February 28th?