Accounting

Mallard Company rents a warehouse on a month-to-month…

Question: Mallard Company rents a warehouse on a month-to-month basis for the storage of its excess inventory. The company periodically must rent space whenever its production greatly exceeds actual sales. For several years, the company executives have discussed building their own storage facility, but this enthusiasm wavers when sales increase sufficiently to absorb excess inventory. …

Mallard Company rents a warehouse on a month-to-month… Read More »

Asaki Company accumulates the following data…

Question: Asaki Company accumulates the following data concerning a proposed capital investment: cash cost $220,000, net annual cash flows $40,000, present value factor of cash inflows for 10 years 5.65 (rounded). Determine the net present value, and indicate whether the investment should be made. Answer: 40,000*5.65 = 226,000226,000 – 220,000 = 6,000 Click to Rate …

Asaki Company accumulates the following data… Read More »

Company B manufactures desk. the following pertains to job…

Question: Company B manufactures desk. the following pertains to job 1. Direct materials used $11,450, Direct labour hrs worked 360, Direct labour rate per hr $15.00, Machine hrs used 300, Applied factory overhead rate per machine hr $ 22.00. what is the total manufacturing cost for this job? Answer: Calculation of total manufacturing cost: Direct …

Company B manufactures desk. the following pertains to job… Read More »

Presented below are selected transactions of Pale Force Company

Question: Presented below are selected transactions of Pale Force Company. Pale Force sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 Sold merchandise on account to CC Company for $3,000, terms 2/10, n/30.March 3 CC Company returned merchandise worth $500 to Pale Force.March 9 Pale …

Presented below are selected transactions of Pale Force Company Read More »

NaviNow Company agrees $20 million in cash to the four former owners of TrafficEye

Question: NaviNow Company agrees $20 million in cash to the four former owners of TrafficEye for all of its assets and liabilities. These four owners of TrafficEye developed and patented a technology for real-time monitoring of traffic patterns on the nations top 200 frequently congested highways. NaviNow plans to combine the new technology with its …

NaviNow Company agrees $20 million in cash to the four former owners of TrafficEye Read More »

What methods of security through obscurity does your school employ?

Question: What methods of security through obscurity does your school employ? How do these methods increase security? How do they decrease security? Answer: Security through obscurity is a form of security measure that one can practice or believe to secure or protect data considering the fact that the perpetrator would get confused and discouraged. For …

What methods of security through obscurity does your school employ? Read More »

Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST

Question: Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST.Sept.2 Recorded $9,000 of cash sales (cost of sales $6,200).3 Purchased $11,000 of merchandise inventory for cash.7 Purchased $6,500 of merchandise; terms 1 /10, n/45.8 Sold merchandise costing $ 13,200 for $ 16,200 terms 2/10, n/30 …

Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST Read More »