What entry would willis company make

On January 3, 2011, Willis Company purchased 3,000 of the 10,000 outstanding shares of Demi Corp for $300,000. On October 31, 2011, Demi Corp declared dividends of $40,000 and on December 31, Demi Corp had net income of $800,000. What entry would ..

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  What was bachman direct labor rate variance

Timmer Bachman founded the Bachman Corporation over 25 years ago. The company's genesis was the unique climbing apparatus developed by Timmer, an avid mountaineer.

  Identifying accounting concepts

The role and process of recognising depreciation in accounting reports, and by identifying accounting concepts which provide the justification for recognising depreciation.

  Clay mix in beginning inventory

Clay mix costs $0.40 per pound and employees of the company are paid $12.00 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Lester has 2,600 pounds of clay mix in beginning inventory and wants to have 3,000 pou..

  Compute materials price variance

The Elm Institute makes portable tents for hikers. Their tents have a standard materials usage of 4 yards of cloth per tent at $7.00 per yard.

  Describe foreign corrupt practices act

Describe Parts I and II of the Foreign Corrupt Practices Act. What is the impact of this act on companies and public accountants? Explain.

  Midyear issuance of securities convertible to common stock

When computing the weighted-average number of shares outstanding during the year for the purpose of calculating diluted EPS, what is the proper treatment of a midyear issuance of securities convertible to common stock?

  Costs of rent and utilities

Imagine a invester has increased your budget by $22,500. The investor does not need to be repaid. Rather, he becomes part owner of your business. Will the investor contribute enough money to meet the costs of rent and utilities? Support your answe..

  Assessing the liquidity of a governmental entity

Which of the following ratios would be most helpful in assessing the liquidity of a governmental entity?

  Millwards accounts receivable turnover

Millward Corporation's books disclosed the following information for the year ended December 31, 2011: Millward's accounts receivable turnover is

  Problem related to sum-of-the-years-digits method

Green Co. constructed a machine at a total cost of $70 million. Construction was completed at the end of 2007 and the machine was placed in service at the beginning of 2008. The machine was being depreciated over a 10-year life using the sum-of-th..