If sales are $100,000, fixed expenses are $33,500, and the contribution margin is $40,000, then the net operating income must be: If the net operating income is $10,000, the gross margin is $40,000, and the cost of goods sold is $42,000, then the sales must be: If the cost of goods sold is $96,900, beginning … Read more
ObjectivesWeek 1: Course Objectives Review the Course Objectives outlined in the Syllabus (refer to the main course menu). Share your expectations from this course.
AccountingWeek 1: Financial vs. Managerial Accounting Both financial and managerial accounting are important to a company’s success. Which do you think contributes more to this success and why? Remember to post your first discussion response by Wednesday and post at least two additional times throughout the week. Additional Questions for Week #1: The Sarbanes-Oxley … Read more
ACCT306 Course Project Overview Financial Statement Analysis Objectives Analyze the financial statements of a publicly traded company. Individual Assignment This is an individual assignment. Each student will select a company, analyze the financial statements, and answer the questions addressed in the section below. You will be required to prepare a narrated 8-10 slide PowerPoint presentation … Read more
Leasing has become the number one method of external financing by U.S. companies. Reasons include each of the following except: S Corporation has a rate of return on assets of 10% and a debt/equity ratio of 2 to 1. The immediate impact of recording a finance lease on these ratios is a(n): Return on Assets … Read more
Exercise 15-5 (Algo) Sales-type lease; lessor; balance sheet and income statement effects [LO15-3] On June 30, 2024, Georgia-Atlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $604,355 over a 5-year lease term (also the asset’s useful life), payable each June 30 and December 31, … Read more
Week 8: Accounting for Leases From the Perspective of the Lessor From the lessor’s perspective, how does an operating lease differ from a sales-type lease? Why might we record profit when recording a sales-type lease? Be sure to provide examples.
Exercise 15-2 (Algo) Finance lease; calculate lease payments [LO15-2] American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2024. The lease agreement for the $5.5 million (fair value and present value of the lease payments) machine specified four equal payments … Read more
Leasing has become the number one method of external financing by U.S. companies. Reasons include each of the following except: One of the five criteria for a finance lease specifies that the present value of the lease payments be equal to or greater than: The lessee normally measures the lease liability to be recorded as the: … Read more
Week 7: Lessee Accounting Please define a finance lease for the lessee. What is the criteria to categorize a lease as a finance lease? Which financial statements are impacted upon the determination that a lease is a finance lease?