A contract calls for a total payment of $800,000 with a guarantee. Essentially the contractor is guaranteed to make at least $200,000 above his costs. If the contractor can demonstrate his costs exceed $600,000, the project will pay the difference, with a $50,000 ceiling on the overage. The contractor demonstrates he spent $623,000. How much (gross) must the project remit to the contractor? Another option for the […]

Best Exports has noticed their current year net income is only $60,000. In to get a loan from their bank to assist the business they will need to provide a statement of cash flows. In reviewing the statement of cash flows, you notice a large increase ($80,000) in accounts receivable due to two of your largest customers being behind in payments. Since the bank looks […]

Discuss the impact of the following situation. Bob Krabstar owns a small plumbing company. The average customer transaction is $450.  Bob offers a 6% discount to cash paying customers, there is no record or invoice for any cash transaction. The 13% HST is not charged or paid to the government. Nor are these cash payments deposited to the company’s account. Bob takes these cash payments […]

1) “Since the board of directors is made up of human beings with selfish tendencies, formation of board of directors irrespective of its configuration, cannot eliminate the agency conflict”. Fully evaluate this assertion. 2) “Being ethical as a business can be costly” Discuss Using our essay writing service Our working experience, customer feedback, and market resources have brought about the creation of our exclusive online […]

You are auditing payroll for the Technologies company for the year ended October​ 31, . Included next are amounts from the​ client’s trial​ balance, along with comparative audited information for the prior year. Requirements a. Use the final balances for the prior year and the information in items 1 through 5 to develop an expected value for each​ account, except sales.​ (Round to the nearest […]

Record the following transactions in the Ledger of A. B. Castro for the month of April 2022. Balance off the accounts and extract the Trial Balance. 2022 $ April 01 Balances brought forward: Cash in hand 1,245 Cash at bank 3,545 Accounts Receivable: A Benton 1.080 Accounts Payables: O. Pearson 2,135 S. Thomas 1,155 02 Cash sales 2,400 Banked cash 2,400 05 Bought goods from […]

The approach to estimating uncollectible accounts is used by MacDougall Brothers. On January 31 the firm had accounts receivable in the amount of $750 000. The Allowance for Doubtful Accounts had a credit balance of $5 250. The controller estimated that the uncollectible accounts expense would amount to one-half of 1% of the $4 500 000 of net sales made during January. This estimate was […]

For this assignment, you will research and compare international and U.S. accounting standards. This will enable you to see how the different reporting methods affect business and how product costs are affected by international business.The learning objectives of this report are as follows: Compare and contrast basic U.S. and international financial accounting standards. Explain how key international factors affect business reporting. Identify key compliance and […]

On July 28, It sold four Kazomma 900 dirt bikes to the WinsWilson Racing. The remaining four bikes remained in the inventory at Sep. 30., the end of company’s fiscal year.   Assume that Speed world uses perpetual inventory system.          Instructions   Compute the cost of goods sold relating to the sale on July 28 and the ending inventory  of Kazommo […]

Chose one element of planning and controlling operations in a service organization and discuss how it differs from how you would plan that activity in a Company that sold goods. Using our essay writing service Our working experience, customer feedback, and market resources have brought about the creation of our exclusive online services. Have you ever wanted to do all of your homework to the […]