Accounting help 10 pts!!!!!!!?
1.Under the equity method, the receipt of cash dividends on an investment in common stock of Vallerio Corporation is accounted for as a debit to Cash and a credit to a. Investment in Vallerio b.Retained Earnings c.Dividend Revenue d.Dividend Receivables 2.Companies may report comprehensive income on each of the statements below except a.income statement b.separate statement of comprehensive income c.statement of stockholders' equity d.retained earnings statement 3.Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000. If the issuing corporation redeems the bonds at 101, what is the amount of gain or loss on redemption? a. $3,000 loss b.$3,000 gain c.$7,000 loss d.$7,000 gain 4.One potential advantage of financing corporations through the use of bonds rather than common stock is a.the interest on bonds must be paid when due b.the corporation must pay the bonds at maturity c.the interest expense is deductible for tax purposes by the corporation d.a higher earnings per share is guaranteed for existing common shareholders 5.Free cash flow is cash from operations, less cash for a.dividends and cash for fixed assets needed to maintain productivity b.dividends and cash to redeem bonds payable c.fixed assets needed to maintain productivity d.dividends, cash for fixed assets needed to maintain productivity, and cash to redeem bonds payable
Accounting help fast!?
Accounting help 10 pts!!!!!!!? 1.Under the equity method, the receipt of cash dividends on an investment in common stock of Vallerio Corporation is accounted for as a debit to Cash and a credit to a. Investment in Vallerio b.Retained Earnings c.Dividend Revenue d.Dividend Receivables 2.Companies may report comprehensive income on each of the statements below except a.income statement b.separate statement of comprehensive income c.statement of stockholders' equity d.retained earnings statement 3.Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000. If the issuing corporation redeems the bonds at 101, what is the amount of gain or loss on redemption? a. $3,000 loss b.$3,000 gain c.$7,000 loss d.$7,000 gain 4.One potential advantage of financing corporations through the use of bonds rather than common stock is a.the interest on bonds must be paid when due b.the corporation must pay the bonds at maturity c.the interest expense is deductible for tax purposes by the corporation d.a higher earnings per share is guaranteed for existing common shareholders 5.Free cash flow is cash from operations, less cash for a.dividends and cash for fixed assets needed to maintain productivity b.dividends and cash to redeem bonds payable c.fixed assets needed to maintain productivity d.dividends, cash for fixed assets needed to maintain productivity, and cash to redeem bonds payable
ACCOUNTING 101 HELP!!!!! LIFO and FIFO?
Please answer promptly to your best abilities During July2010, Tricoci Inc sold 250 units of its product Empire for $4000. The following units were available: units cost Beginning inventory 100 $2 purchase 1 40 4 purchase 2 60 6 purchase 3 150 9 purchase 4 90 12 a sale of 250 units was made after purchase 3. of the units sold, 100 came from beginning inventory and 150 came from purchase 3. determine the goods available for sale in units and in dollars and ending inventory in units. then determine the costs that should be assigned to cost of goods sold and ending inventory under LIFO for perpetual and the periodic inventory systems. you would help a lot if you answered this. thank you
Accounting 101 help fast please?
Apr. 5 Purchased golf bags, clubs and balls on account from Roland Co. $1,500, terms 3/10, n/60. Dr Merchandise inventory (MI) $1,500 Cr Accounts payable (AP) $1,500 7 Paid freight on Roland Co. purchases $80. Dr MI $80 Cr Cash $80 9 Received credit from Roland Co. for merchandise returned $200. Dr AP $200 Cr MI $200 10 Sold merchandise on account to members $910, terms n/30. Dr Accounts receivable (AR) $910 Cr Sales $910 12 Purchased golf shoes, sweaters, and other accessories on account from Eagle Sportswear $830, terms 1/10, n/30. Dr MI $830 Cr AP $830 14 Paid Roland Co. in full. Dr AP 1,300 ($1,500 - $200) Cr Cash 1,261 Cr MI 39 ($1,300 x 3%) 17 Received credit from Eagle Sportswear for merchandise returned $30. Dr AP $30 Cr MI $30 20 Made sales on account to members $810, terms n/30. Dr AR $810 Cr Sales $810 21 Paid Eagle Sportswear in full. Dr AP 800 ($830 - $30) Cr Cash 792 Cr MI 8 ($800 x 1%) 27 Granted credit to members for clothing that did not fit $60. Dr Sales returns & allowances $60 Cr AR $60 30 Received payments on account from members $1,100. Dr Cash $1,100 Cr AR $1,100
Accounting 101 Homework Help?
Can anyone help explain and answer this for me? Strawn Corporation had these transactions during 2012. Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities. (a)Purchased a machine for $30,000, giving a long-term note in exchange. (b)Issued $50,000 par value common stock for cash. (c)Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. (d)Declared and paid a cash dividend of $13,000. (e)Sold a long-term investment with a cost of $15,000 for $15,000 cash. (f)Collected $16,000 of accounts receivable. (g)Paid $18,000 on accounts payable.
FIFO LIFO Accounting need help really fast?
Orion Iron Corp. tracks the number of units purchased and sold throughout each year but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31, 2012. Transactions Units Unit Cost a. Inventory, December 31, 2011 350 $ 12 For the year 2012: b. Purchase, April 11 800 10 c. Purchase, June 1 850 16 d. Sale, May 1 (sold for $40 per unit) 350 e. Sale, July 3 (sold for $40 per unit) 640 f. Operating expenses (excluding income tax expense), $18,300 Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods.
What are some of best YouTube channels to learn accounting?
Yup, youtube is good platform of getting good knowledge in any subject totally free.So there are lots of you tube channel are there who only uploads their videos related to accounting subject.If you are interested than you can go youtube channel just type accounting in youtube search bar and click enter , the page will open with full of education related youtube channel which are completely related with accounting subject .Other wise you can follow my suggested links for your query .These are best accounting youtube channels .CA dilip badlaniKaiser wise - YouTubeDronstudy.com. Good luck
Which account titles are debit or credit? 10 points?
Indicate whether the normal balance for each of the following accounts is a debit or credit. Sales Discount Purchase Sales Freight in/ Transportation in Purchase Discount Sales Return & allowance Purchase Return & allowance Merchandise Inventory Thx in advance