Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 03 Aug 2017 My Price 9.00

sum of cash

Question 1

1.1 "Accumulated depreciation is a sum of cash being put aside for the replacement of fixed assets." Do you agree? Explain. Give an example.

1.2. To capitalize an amount means that it will never be charged as an expense." Do you agree? Explain. Give an example.

1.3 Study Appendix 16A." Purchases of inventory at the end of a fiscal period can have a direct effect on income under LIFO." Do you agree? Explain. Give a simple numerical example.

 

 

Question 2

 


A. Prepare the December 31, 2014 balance sheet and the 2014 income statement.

Solve using a spreadsheet following the assignment requirements listed in the 'Requirements' section, noting the checklist for all spreadsheets: separate data/report, paste normal view and formula view to a doc file, display row and column headings, IF functions.

 

B. Create a second version or your spreadsheet, with the changed values below.

Paste this second version to a doc file. There is no need to paste the formula view again.

 

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Question 3

The Hawaii Fertilizer Company had inventory on December 31, 20X0, of 22,000 bags at $10 = $220,000. Purchases during 20X1 were 30,000 bags. Sales were 28,000 bags for sales revenue of $17 per bag. Prepare a four-column comparative statement of gross margin for 20X1:

1. Assume that purchases were at $12 per unit. Assume FIFO and then LIFO (columns 1 and 2).

2. Assume that purchases were at $8 per unit. Assume FIFO and LIFO (columns 3 and 4)

3. Assume Hawaii Fertilizer is reporting for tax purposes and has an income tax rate of 35%. Assume all transactions are for cash.

a. Which inventory method in number 1 results in more cash for Hawaii fertilizer Company? By how much?

b. Which inventory method in number 2 results in more cash for Hawaii Fertilizer Company? By how much?

Solve using a spreadsheet. Check spreadsheet requirements. Ensure that your data entry and report areas are separate.

Here is a template you may use.

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</pstyle="color:></pstyle="font-size:>Question 5 Ratios

 

What two ratios are multiplied together to give the pre-tax operating rate of return on average total assets? Create a spreadsheet example to demonstrate.

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Answers

Maurice Tutor
(5)
Status NEW Posted 03 Aug 2017 06:08 AM My Price 9.00

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