Accounting

The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange. The following selected events and transactions occurred during January: 1-Jan Jack Strange, the owner, invested $50,000 in the business. 5-Jan Purchased equipment for $100,000 on account from The Gotham Company. 8-Jan Incurred advertising expense of $1,800 on account […]

FASB Accounting Standards Codification® Basic View User Guide The Financial Accounting Standards Board (FASB) is a domestic, not-for-profit organization based in Connecticut. For more than 40 years, the FASB has helped set reporting standards within the accounting trade. Visit the FASB website and read About the FASB to learn more about its history.One of the […]

Discussion Post Segment information is reported based on the internal reporting system of the company as opposed to the authoritative accounting requirements based on GAAP. Analyze the major disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether disclosures provide financial statement users beneficial information for investment or […]

SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries […]

The topic of the paper is very broad, but, should be something about accounting or business.Suggested topics include: analysis of a set of financial statements including the some of the ratios from chapter 17( Analysis of Financial Statement) , a business plan, the impact of state sales tax on items sold on line, the use […]

Vocabulary account chart of accounts credit and debits double entry system general journal general ledger journal journalizing ledger normal balance posting t-account trial balance

Q1. Give a numerical example for Variable Costing Contribution Format Income Statement that is used for the internal decision-making and compare with the traditional income statement prepared by absorption costing that is used for the external reporting. Prepare the two income statements assuming the following (2.5 marks) There is no inventory. There is beginning inventory. […]