(Identification of activities with particular governmental-type funds) Using only the governmental-type funds, indicate which would be used to record each of the following transactions and events: GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund ___ 1. The city transferred cash to the fund used to accumulate resources to pay bond principal and interest. ___ 2. […]

Sonic, Inc., sells business software. Currently, all of its programs come on disks. Due to their complexity, some of these applications occupy as many as seven disks. Not only are the disks cumbersome for customers to load, they are relatively expensive for Sonic to purchase. The company does not intend to discontinue using disks altogether. However, it does want to reduce its reliance on the […]

Physical and sales value allocations FINS produces three products from its fish farm: fish, fish oil, and fish meal. During July, FINS produced the following average quantities of each product from each pound (16 ounces) of fish processed: Obtained from Each Product Pound of Fish Fish 8 ounces Fish oil Fish meal Total 4 ounces 2 ounces 14 ounces Of each pound of fish processed, […]

Choose an industry. Identify the three largest firms in that industry. Obtain their most recent financial statements or summaries thereof. Obtain one or two recent articles on this industry or on the three selected firms. Required a. Discuss the similarities and differences in the three firms’capital structures. b. Discuss how these firms might be changing their capital structure, especially in response to industry or market […]

Management accounting guidelines. For each of the following items, identify which of the management accounting guidelines applies: cost–benefit approach, behavioral and technical considerations, or different costs for different purposes. 1. Analyzing whether to produce a component needed for the end product or to outsource it. 2. Deciding whether to compensate the sales force by straight commission or by salary. 3. Adding the cost of store […]

The Payroll Manager, Dianne Brown, discovered that an error remittance sent to the Canada Revenue Agency (CRA) last m asking for an explanation on how this error occurred and how you to provide suggestions on what can be done to prevente Send an e-mail replying to Ms. Dianne with the informations can choose whether the error Ms. Dianne discovered was an Using the best practices […]

Many churches sponsor bingo games, a tradition stemming from the time when only specific nonprofit institutions were allowed to sponsor games of chance. Reverend Justin Olds, the pastor of a new parish in Orange County, is investigating the desirability of conducting weekly bingo nights. The parish has no hall, but a local hotel would be willing to commit its hall for a lump-sum rental of […]

CVP analysis, changing revenues and costs. Sunset Travel Agency specializes in flights between Toronto and Jamaica. It books passengers on Hamilton Air. Sunset’s fixed costs are $23,500 per month. Hamilton Air charges passengers $1,500 per round-trip ticket. Calculate the number of tickets Sunset must sell each month to (a) break even and (b) make a target operating income of $10,000 per month in each of […]

Convertible Bonds, Bond Issue Costs, Conversion. On January 1, 2018, Mesa Machinery Corporation issued 75 of 12-year, 12% convertible bonds at par. Each bond had a par value of $1,000 and pays interest annually on December 31. Because the bonds were issued at par, the yield on the bond is also equal to 12%. Each $1,000 bond converts into 25 shares of $1 par value […]

Assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1 and Table 9.2). (Do not round intermediate calculations and round your final answers to the nearest cent.)TABLE TABLE 9.2 9.2 Percentage method income […]