Question 5. (TCOs 3, 4, 5, & 7) During the past two years, through extensive advertising and improved customer relations, Beech Corporation estimated that it had developed customer goodwill worth $100,000. For the current year, determine the amount of goodwill Beech Corporation may amortize. Question 6. (TCOs 3, 4, 5, & 7) Damien, not a dealer in real estate, sold real estate with a basis of $250,000 for $500,000 cash, a note for $250,000, and the buyer assumed Damien’s mortgage on the property of $125,000.
Accounts Payable Home depot reported its January 31, 2010 accounts payable at $4,863,000 and on January 30, 2011 the same was reported the following fiscal year at $4,717,000. There is a loss of ($-146,000) which possibly indicates the repayment of construction loans, now that Home Depot now operates over 2,000 retail locations with 1,976 in the USA, 179 stores in Canada, 85 stores in Mexico and 8 stores in China. (Home Depot, 2011). Total Current Liabilities The total current liabilities for the home depot organization in January 31, 2010 was reported at $10,363,000 and the same was reported the following fiscal year on in January 30, 2011 at $10,122,000, once again there is a decrease from 2010 to 2011. Two Largest Current Liabilities
True False The job cost sheet is used in both job-order and process costing. True False Byklea Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 200 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,000 units were started and 6,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 90% complete with respect to materials and 45% complete with respect to conversion costs.
Exercise 3-13. Costing Units Completed and Ending Work in Process: [LO 2,3,4] At the start of November, Penco Refinery had Work in Process inventory consisting of 4,000 units that were 90 percent complete with respect to materials and 50 percent complete with respect to conversion costs. The cost of the units was $43,000 ($30,000 of material cost and $13,000 of labor and overhead). During November, the company started 44,000 units and incurred $421,990 of material cost and $394,880 of labor and overhead. The company completed 45,000 units during the month, and 3,000 units were in process at the end of November.
Luis’ student-teaching experience came as a realization to him not only in a positive way but in a negative way as well. Now that he finished his degree and credential work he least expected to be presented with a full-time teaching position in his hometown starting at $29,000 a year. As he least expected to allow his friend to talk him into a management trainee position at Sunset National it was another surprise to find that the large bank chose him 15 other candidates. This opportunity would give him a slightly better pay starting at $38,000 a year. In addition to his pay at the bank when he’s promoted to loan officer he would be receiving an additional $3,000 raise.
It is expected that the equipment has to be replaced after five years. Assume that the residual value is 0. On January 3 a store location was found and three months' rent was paid in advance, totalling € 3,300. Business operations began on January 3. Additional operating facts for January are as follows: New and second hand books were bought and paid, totaling € 3,200. Cash sales of € 4,000.
CanGo Company Analysis CanGo Company Analysis Table of Contents Introduction: 3 SWOT Analysis 3 Strengths 3 Weaknesses 4 Opportunities 4 Threats 5 Market Analysis 5 Competitive Analysis 7 Competitors 8 CanGo 9 Financial Analysis 10 Strategic Recommendations 12 Train Current Employees 12 Raise More Capital to Continue Current Project 13 Improve Computer Technology 13 Increase Accountability 13 Work Together in Teams 13 Warehouse Improvements 14 Conclusion 15 References 15 Introduction: During a six-week review of the internal operations at CanGo, we at Dynamic D Consulting have presented three bi-weekly analysis reports based on personal observations, in which we made our recommendations. Based on the current expectations of CanGo’s management and the proposed projects the company would like to undertake, Dynamic D Consulting has prepared the following company analysis to aid CanGo in reaching their goals.
Question: (TCO 6) On-the-job training refers to which of the following? 10. Question: (TCO 6) You have just been promoted to sales manager at your insurance company and are in charge of eight salespeople, three of which have been with the company less than a year. You know that most turnover occurs between 12 and 15 months of employment in your industry, so you decide to develop a high-quality training program for your salesforce. Which of the following is true, with regard to the research on sales training and
The Johnsons Calculate Their Income Taxes Several years have gone by since Harry and Belinda graduated from college and started their working careers. They both earn good salaries. They believe that they are paying too much in federal income taxes. The Johnsons’ total income last year included Harry’s salary of $63,000 and Belinda’s salary of $84,000. She contributed $3,000 to her 401(k) for retirement.
Wells Fargo is a corporation that employs over several hundred thousand associates that supply financial services to customers in the United States. Choosing the most qualified individual may seem like a daunting task. Wells Fargo's policies and procedures for employing candidates present a basis for attaining the finest talent. Schifrin (2012) suggested that Wells Fargo has more than just a down to earth approach with its customers. Wells Fargo Home Mortgage merged with Wachovia Mortgage Corporation on December 31, 2008.