Question
1.How do you receive payments through Quickbooks? 2.Sneakers Snack Shop signed a $30,000, 90 day, 8% interest-bearing note on August 1, 2009. Using a 360-day
1.How do you receive payments through Quickbooks?
2.Sneakers Snack Shop signed a $30,000, 90 day, 8% interest-bearing note on August 1, 2009. Using a 360-day year, what is the maturity value of the note?
3.In 2017, ABS manufacturing produced and sold 50,000 units of "x" product in their first year. The following info is provided:
Total sales: (50,000 x $80) 4,000,000
Units Produced and Sold: 50,000
Direct Material $35 per unit
Direct labor $10 per unit
Variable Overhead: $5 per unit
Fixed Overhead: $8 per unit
Selling & admin:
Variable S&A $2 per unit
Fixed S&A $10 per unit
Calculate product cost per unit under Variable & Absorption Costing:
4.Consider TimeWarner: In 2002, $128Billion of its $209Billion in assets was Goodwill. What forced them to write down this goodwill to $37billion a few years later?
5.If 3000 dollars is invested atinterest, find the value of the investment at the end of 6 years if interest is compoundeda) annuallyb) quarterlyc) monthlyd) continuously
6.A bacteria culture initially contains 300 cells and grows at a rate proportional to its size. After 4 hours the population has increased to 320.(a) Find an expression for the number of bacteria afterhours.(b) Find the number of bacteria after 6 hours.(c) Find the rate of growth after 6 hours.(d) When will the population reach 8000?
7.I borrow 200,000 to purchase a house worth 250,000, putting down 50,000 of my own. The borrowing is at 5% over 30 years. What are the basic double-entry bookkeeping entries I must make to record this fact?
8.Let's say I buy a logo on a service like Fiverr for $5.50. The logo doesn't meet my needs, but I'm still obligated to pay the graphic artist for services rendered. If the logo had met my needs, I'd consider it an intangible asset. In this case, though, the logo has no value to me. When I credit my Cash account the $5.50, into what account should I put the offsetting entry?
9.There are many places in the world in which people live in severe poverty. There are places in our very city where people live without food or shelter. So...
Is it wrong to buy an expensive, luxury meal when there are people dying of starvation?
10.Mr. and Mrs. Wagner are getting ready to drive across the USA from Philadelphia, PA to Los Angeles, CA in five days. The distance is approximately 3,000 miles. The average price of gasoline is about $2.70 per gallon. They plan to stay in a hotel for four nights and budget the cost of meals be about $40 per day per person.
a) If their van averages 25 mpg, estimate the total cost of the gas for the trip. Round to the nearest whole number.
$
b) If the average cost of hotel stay per night is about $105 plus 18% hotel tax, determine the total cost for hotels for their trip. Round answer to the nearest whole number.
$
c) How much should they budget for the total cost of meals for their trip?
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