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Financial analysis

Word length : 500 words

 

Refer to the latest financial report of JB Hi-Fi limited on its website , www.jbhifi.com.au . Browse through the chairman's and chief executive officer's reports and the notes to the financial statements and answer the following:

 

 QUESTION:

 Have the auditors received any money from the company for doing any work apart from conducting the audit? If so , how much was received for other services.?

 

Stephenson Company's computer system recently crashed

Stephenson Company's computer system recently crashed, erasing much of the Company's financial data. The following accounting information was discovered soon afterwards on the CFO's back-up computer disk.

 

Cost of Goods Sold $439,800

Work-in-Process Inventory, Beginning $36,100

Work-in-Process Inventory, Ending $46,600

Selling and Administrative Expense $60,800

Finished Good Inventory, Ending $17,900

Direct Materials Purchased $210,300

Factory Overhead Applied $134,100

Operating Income $24,900

Product X is a consumer product with a retail price of $9.95.

Product X is a consumer product with a retail price of $9.95. Retailer’s margins on the product

are 40% (based on the selling price to consumers) and wholesaler’s margins are 8% (based on the

selling price to retailers). The size of the market is $300,000,000 annually (based on retail sales);

product X’ share (in dollars) of this market is 17.3%.

The fixed costs involved in manufacturing Product X are $1,400,000 and the variable

costs are $0.86 per unit. The advertising budget for Product X is $2,000,000. Miscellaneous

14a. The Verifine Department Stores Inc.,

14a.  The Verifine Department Stores Inc., chief executive officer (CEO) has asked you to compare the company’s profit performance and financial position with the average for the industry.  The CEO has given you the company’s income statement and balance sheet as well as the industries average data for retailers.

 

Provided information

E18-21 & E18-24

E18-21

Calculating Activity-based Costing Overhead Rates

Assume that manufacturing overhead for Glassman Company in the previous exercise consisted of the following activities and costs:

E6-2, E6-7, E6-18

E6-2

 

Determine the due date and the amount of interest due at maturity on the following notes:

 

Date of Note Face Amount Interest Rate Term of Note

 

a. January 6 $40,000 9% 45 days

 

b. March 23 9,000 10 60 days

 

c. May 30 12,000 12 90 days

 

d. August 30 18,000 10 120 days

 

e. October 110,500 8 60 days

 

E6-7

 

Estimating doubtful accounts

Attachments: 

Your client John comes to see you in July 2014 asking to prepare his income tax return forthe year ended...

Your client John comes to see you in July 2014 asking to prepare his income tax return for

the year ended 30 June 2014. His shoebox of receipts, invoices and other paperwork

reveals the following information;

John purchased a house on 26 August 1987 for a cost of $170,000 and also incurred legal

costs of $1,500 and stamp duty of $4,400 in relation to the purchase. John lived in the

Assume that the accountant preparing the consolidation

Assume that the accountant preparing the consolidation worksheet has chosen to make the optional accumulated depreciation consolidation entry. Why does this consolidation entry need to be made each year? Write a short, simple memo to explaining why this is the case.

Please provide a complete, easy-to-understand explanation as concisely as possible. Your explanation should not exceed two or three short paragraphs. Therefore, your explanation should reflect careful thinking and good writing.

Give a name to the subject. 

accounting

Problems Section – Show all work Questions 1 through 7

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