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Justin Huish Publishing Co. publishes college textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms f.o.b. shipping point, and payment is due 60 days after shipment. The retailer may return a maximum of 30% of an order at the retailer’s expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is 12%, and the average collection period is 72 days.
Instructions
a)Identify alternative revenue recognition tests that Huish could employ concerning textbook sales.
b)Briefly discuss the reasoning for your answers in (a) above.
c)In late July, Huish shipped books invoiced is $16,000,000. Prepare the journal entry to record this event that best confirms to generally accepted accounting principles and your answer to part (b).
d)In October, $2 million of the invoiced July sales were returned according to the return policy, and the remaining $14 million was paid. Prepare the entries recording the return and payment.

On June 3, David Reid Co. sold to Kim Rhode merchandise having a sale price of $5,000 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $120, terms n/30, was received by Rhode on June 8 from the Olympic Transport Service for the freight cost. Upon receipt of goods, June 5, Rhode notified Reid Co. that merchandise costing $400 contained flaws that rendered it worthless. The same day Reid Co. issued a credit memo covering the worthless merchandise and asked that it be returned at company expense. The freight on the returned merchandise was $24, paid by Reid Co. on June 7. On June 12, the company received a check for the balance due from Rhode.
Instructions
a)Prepare journal entries on Reid Co. books to record all the events noted above under each of the following bases.
1.Sales and receivables are entered at gross selling price.
2.Sales and receivables are entered net of cash discounts.
b)Prepare the journal entry under basis 2, assuming that Kim Rhode did not remit payment until August 5.

During 2007 Pierson Co. started a construction job with a contract price of $1,500,000. The job was completed in 2009. The following information is available.
2007 2008 2009
Costs incurred to date$400,000$935,000$1,070,000
Estimated costs to complete 600,000 165,000 -0-
Billings to date 300,000 900,000 1,500,000
Collections to date 270,000 810,000 1,425,000
Instructions
a)Compute the amount of gross profit to be recognized each year assuming the percentage-of-completion method is used.
b)Prepare all necessary journal entries for 2008.
c)Compute the amount of gross profit to be recognized each year assuming the completed-contract method is used.

South Carolina Corp. has one temporary difference at the end of 2007 that will reverse and cause taxable amounts of $55,000 in 2008, $60,000 in 2009, and $65,000 in 2010. South Carolina’s pretax financial income for 2007 is $300,000, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2007.
Instructions
a)Compute taxable income and income taxes payable for 2007.
b)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2007.
c)Prepare the income tax expense section of the income statement for 2007, beginning with the line “Income before income taxes.”

The following information is available for Wenger Corp for 2006.
1.Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will revenue equally over the years 2007-2010.
2.Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be earned in 2007.
3.Pretax financial income, $300,000.
4.Tax rate for all years, 40%.
Instructions
a)Compute taxable income for 2006.
b)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2006.
c)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2007, assuming taxable income of $325,000.

Listed below are items that are commonly accounted for differently for financial reporting purposes than they are for tax purposes.
Instructions
For each item below, indicate whether it involves:
1)A temporary difference that will result in future deductible amounts and, therefore, will usually give rise to a deferred income tax asset.
2)A temporary difference that will result in future taxable amounts and, therefore, will usually give rise to a deferred income tax liability.
3)A permanent difference.
Use the appropriate number to indicate your answers for each.
a)___ The MACRS depreciation system is used for tax purposes, and the straight-line depreciation method is used for financial reporting purposes for some plant assets.
b)___ A landlord collects some rents in advance. Rents received are taxable in
In addition, I am doing my own homework but I compare my answers with answers received and if something is not adding up on my side I go to campus and ask for guidance from head of the department. We all learn in different ways. I like to work things backwards. Gotta love that

You need to purchase a textbook for nursing school. The book cost $80.00, and the sales tax where you are purchasing the book is 8.25%. You have $100. How much change will you receive back?

A. $5.20
B. $7.35
C. $13.40
D. $19.95
E. $21.25

2nd one—

You purchase a car making a down payment of $3,000 and 6 monthly payments of $225. How much have you paid so far for the car?

A. $3225
B. $4350
C. $5375
D. $6550
E. $6398

I need to make 10 flash cards. 5 of the flash cards will have to do with verbs, the other half with nouns.

Here are the directions for the nouns: If the original noun in the textbook is singular, write the plural form. So I am asked to write a complete and descriptive sentence in spanish using the noun in a meaningful context. I am also supposed to use at least 2 adjectives to describe the noun. Keep in mind I can not use words outside of my chapter vocabulary, so spanish speakers, do not add anything I did not use, only correct and add grammar.
1. Los inodoros es de (put here any store that sales “toilets”) y es muy caro y feo.
2. Los fregaderos es de (put any store that sails “refrigerators”) y es grande y bonito.
3. Mi apartemento (I want to say “building”) tiene muchos lavadoras en (I want to say “laundromat”). (I want to say “they”) son pequena y ellas son (I want to say “loud”).
4. Yo tengo tres televisors en mi apartamento. Ellos son grande y bonito.
5. Hay dos duchas en mi apartamento, las duchas son pequena y bonita.

Here are the directions for the verbs: Write a complete and descriptive sentence in spanish that uses any conjugated form of the verb in present tense. I also have to write a complete and descriptive in spanish that uses any conjugated form of the verb in the preterite tense.
1. Present: Hoy me toca barrer el bano. Preterite: Mi hermana barrio el bano ayer.
2. Present: Yo tengo darlo de comer al perro antes de salir para escuela: Preterite: Isabella darlio de comer al perro antes de salir para escuela.
3. Present: Tengo que organizarla mi habitacion pero es feo. Preterite: Lola organizo la habitacion.
4. Present: Yo rego las plantas porque (I want to say “they are dry”). Preterite: Sofia rego las plantas (I want to say “they are dry”.
5. Present: Yo vivo en un apartamento. Preterite: Ella vivo en un apartamenta pero ahora ella vivo en una casa.

Just re-write the 10 sentences (check for grammar, spelling, accent marks (if you can), etc.) for me and if you have the time explain to me why it doesn’t go this way, etc. Thank you.

I have 4 questions for my Algebra 2 class. I have a sprained ankle so i haven’t been in school for a while and no one brought my pack home. This is due tomorrow. Would someone be able to help me pleaseeee?

-Write the equation.
-Solve the equation.
-Find the solution.
-Answer each question.

1) In a certain math class, each student has a textbook, every 2 students share a book of times tables, every 3 students share a math problem book, and every 4 students share a mathematics dictionary. If the total number of books is 75,
a) How many students are in the class?
b) How many students share times table books?
c) How many students share a math problem book?
d) How many students share a mathematics dictionary?

2) Mr.s Walsh is seeking legal advice. A friend of hers recommended two law firms – Legal Eagles, Which charges a consultation fee of $100 plus $40 per hour and A-1 Attorneys, which charges a consultation fee of $60 per hour.

A-Write and equation for the cost (c) of Legal Eagles in terms of the length of consultation time (t). Write another equation for the cost (C) of A-1 Attorneys in terms of the length if consultation time (t).

B-Creater a table of values showing the cost of each legal firm over a 6-hour period, and graph the results.

C-At how many hours of consultation time will both legal firms cost the same?

D-Which firm gives more consultation time for $420? By how much?

E- Based on cost and consultation time, which law firm should Mrs. Walsh use? Explain.

3) A person applying for a sales position is offered an alternative salary plan.

Plan A: A base salary of $600 per month plus a commission of 4% of the gross value for the month.

Plan B: A base salary of $700 per month plus a commission of %6 of the gross sales of the month in excess of $10,000

- For each plan, formulate a function (an equation) that expresses monthly earning as a function of gross sales (x).

- For what gross sales value is Plan B preferable?

4) The base of a triangle is 9cm greater than the height. The are is 56cm². Find the height and the base.

-Draw a diagram and label.

-Translate the problem into a factorable equation (one variable).

-Solve the equation. Explain your answer.

I have never asked for help like this on Yahoo Answers. You don’t understand how desperate i am. This is due tomorrow and I just haven’t had the time and i feel horrible. If you guys could just please help me, i will forever be grateful. E-mail me if anything: joana.sd21@gmail.com Thank You soooo much!!!

Okay here’s the thing, i’m taking principles of accounting and i have a midterm very soon .
i’ll admit it’s not my favorit subject but still am trying to understand it the best i can .
i solved the exercises i have in the text book and done alot of work on them and one of them was the one i’ll write below …. if some can please give me the answer cause i don’t think i got it right ……… that and if u can name any textbooks that can help me i would be extremely grateful ………………

here’s the problem :
A business has an outstanding credit balance in the provision for doubtful debts amounting to 3,200$ at the beginning of the financial year ; 01.01.2009. the Blance sheet of the business at the year end 31.12.2009 showed a balance of 2020,500$ in the sales ledger. if the earlier experince indicate that 1% of the debtors remain unpaid , compute the amount of provision foe doubtful debt and double entry that will be entered in the accounting books to refelct the above situation at those at the close of business on 31.12.2009 ……..

Great ideas are born at universities, where students are challenged to think up new solutions to problems. Once class is over, these ideas often gather dust. At the University of South Florida, however, a small company is now turning great student ideas into reality. Rather than have student inventions remain on the sketchpad or be purchased by someone else, Rehab Ideas is striving to put them to use.

Rehab Ideas is run by Professor Stephen Sundarrao. He introduces his engineering students to people with disabilities. Then, he asks his students to create products that will help these people.

A few years ago, Travis Watkins was one of Sundarrao’s students. When Watkins was asked to design an engineering project to help people with disabilities, the first person who came to mind was his father. His father had once cherished walks along the beach. However, an illness known as Lou Gehrig’s disease had left him in a wheelchair, unable to walk. Regular wheelchairs cannot go on the beach. So Watkins came up with a solution. He created a sturdy, wheeled platform that attaches to a wheelchair. It moves easily over uneven, rocky, or sandy ground.

Watkins’ wheelchair platform is one of a handful of student creations that Sundarrao believes has potential. Other Rehab Ideas products include an aluminum crutch that folds up neatly to fit into a purse. There is also a mechanical arm that can grab a textbook out of a backpack attached to the back of a wheelchair. Rehab Ideas products add to a commercial field that includes replacement body parts, swimming fins for people who have lost limbs, and adaptive equipment for hunting and fishing.

Rehab Ideas products range in price from $695 for a tray that attaches to a wheelchair to $4,495 for the beach wheelchair platform. Student designers get a small cut of the profits, said Sundarrao. More importantly, they have the experience of seeing their designs become real products for sale. This is an opportunity that most college students don’t get. It is made possible because Rehab Ideas is part of the University of South Florida’s business incubator. A business incubator is a program that helps young businesses get started. For a price, the University of South Florida’s business incubator gives students and faculty support and guidance. It also provides materials and work space.

There are many business incubators at universities around the country. Mike Shipp is director of rehabilitation services at Louisiana Tech University. He says that business incubators not only help businesses, but the universities, too.

“I think what universities recognized several years ago is, if you want to attract … and keep good [teachers], and bring new students in, you have to do what you can to support their research and ideas,” Shipp said. “Everyone gains from that.”

Sundarrao and his students are certainly gaining from the university’s support of Rehab Ideas. The company’s clients are benefiting, too, but in a different way. Christopher Rhoades is 19. He uses a wheelchair. Recently, Rhoades visited Sundarrao’s class. His mother accompanied him. She watched as Rhoades maneuvered the wheelchair platform designed by Travis Watkins. She cried as Rhoades used the mechanical arm to take a book from the backpack behind his wheelchair.

“It just seems so simple but yet it’s such a huge thing. [It is] one less thing that he has to ask someone else to do for him,” Rhoades’ mother said.

1.) A textbook company uses the equations R = 20x and C = 5x + 300000 to represent the revenue and cost of textbook sales respectively. The number of textbooks is represented by x. For what number of textbooks is the cost equal to the revenue?
2.) When Millie called Pete’s Plumbing, Pete worked 4 hours and charged $70. When her neighbor Rosalie called Pete, he worked 8 hours and charged her $110. Pete’s charge is a linear function of the number of hours he works. Find the formula for this function and determine how much Pete will charge for working 15 hours at Fred’s house.
3.) A car rental agency uses the following linear equation to calculate the rental charges for driving certain distances. R=.5m + 20 for 0 < m < 400 R represents the rental charge in dollars, and m represents the number of miles. Find the rental charge for driving 200 miles.

Hey there,

I have just finished my fourth year of college and would like to sell come of my textbooks online. Can you please tell me some websites that are very popular for textbook sales and I would get good money by selling my books? Please help.

Thank You So Much, I really appreciate your time and answers. They are both greatly appreciated. Once again, Thanks

I just reviewed a list of textbooks needed for my courses and discovered that the grand total would amount to $1200 for the semester!! I have no idea what to do to generate this amount of capital in such a short period of time (must place an order by Friday to reserve the cheapest, used textbooks.) I researched other websites for the best deals on used books but it turns out that many professors have the university’s printing press print textbooks for them; therefore, none of these websites had any of the books I needed even listed for sale (with the exception of one textbook.) I expected to recieve a bill for maybe $400, or at most $800 (planned on buying used textbooks), but this $1200 bill – what should I do? I also happened to notice that some of the professors listed two of the textbooks as optional. Nevertheless, should I buy these books anyway? From those of you who have been in this predicament before, do professors actually use these optional books or do they greatly aid you in retaining information in some way unknown to me? I am just entering college (a bit later than most other kids) so I am relatively unexperienced with buying textbooks. Please help me.