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Module 1 Discussion Review the provisions of the Sarbanes-Oxley Act which was created in 2002 to address the accounting scandals in the late 90s early 00s (Enron, WorldCom, etc.). Identify the provisions that you feel made the biggest impact. What other provisions could have been included in the Act to strengthen the Responsible Stewardship and […]

Assignment Exercises 6-1 and 6-2 Assignment Exercises 7-1 and 7-2 photo 1.JPG photo 2.JPG photo 3.JPG photo 4.JPG photo 1.JPG photo 2.JPG

Bracewell Company reported net income of $191,660 for 2014. Bracewell also reported depreciation expense of $46,820 and a gain of $4,970 on disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $10,520 for the year, a $13,590 increase in accounts payable, and a $3,670 decrease in prepaid expenses.Prepare the operating activities section of the statement […]

Kincaid Company sells flags with team logos. Kincaid has fixed costs of $583,200 per year plus variable costs of $4.80 per flag. Each flag sells for $12.00.   Requirements :   1.  Use the income statement equation approach to compute the number of flags Kincaid must sell each year to break even.   2.  Use […]

Kimm Company has gathered the following information about its product.Direct materials: Each unit of product contains 3.10 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.50 pounds. Materials cost $3 per pound, but Kimm always takes the 4.94% cash discount all of its suppliers offer. Freight costs average $0.40 per pound.Direct labor. Each unit requires 1.40 hours of […]

Dependable Drivers Driving School charges $250 per student to prepare and administer written and driving tests. Variable costs of $100 per student include trainers’ wages, study materials, and gasoline. Annual fixed costs of $75,000 include the training facility and fleet of cars.   Requirements   1. For each of the following independent situations, calculate the […]

Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2014). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.Department Quarter 1 Quarter 2 Quarter 3 Quarter 4Auditing 2,550 1,810 2,210 2,560Tax 3,190 2,620 2,400 2,710Consulting 1,650 1,650 1,650 1,650Average hourly billing rates are auditing $84, tax $91, and consulting $102.Prepare the service revenue […]

RPM Music Center had the following petty cash transactions in March of the current year:   March 5   Wrote a $200 check, cashed it, and gave the proceeds and the petty cashbox to Liz Buck, the petty cashier.           6    Paid $14.50 COD shipping charges on merchandise purchased for […]

20 questions multiple choice.   Chapter 7 book attached Mike Meyers’ CompTIA Network+® Guide to Managing and Troubleshooting Networks Third Edition (Exam N10-005) This page intentionally left blank Mike Meyers’ CompTIA Network+® Guide to Managing and Troubleshooting Networks Third Edition (Exam N10-005) Mike Meyers New York Chicago San Francisco Lisbon London Madrid Mexico City Milan […]

ABC Inc. was incorporated on 1/15/12. Their corporate charter authorized the following capital stock: Preferred Stock: 7%, par value $100 per share, 100,000 shares. Common Stock: $1 par value, 500,000 shares.   The following transactions occurred during the year:   1/19/12 – Issued 100,000 shares of common stock for $17 cash per share. 1/31/12 – […]