MLM Passive Income

What is the best way to build residual income? If I were to build my passive income to be greater than my expenses, how would I go about doing that?

What FREE business opportunities are vehicles to build residual income best? Please include links to TRUE FREE opportunities only. Nothing required to puchase or sell ever.! I am not looking for a single horse. I am looking for the components to create a financially viable solution.

What is the best way to build a life long residual income? If you recommend network marketing, which company? I mean a residual income that doesn't budge a digit for a life time.

what are some good ways to build a residual income? I have about 25K to invest...

What are the easiest methods of building a residual income? I've written a book and love the idea of getting a little income every time that it gets sold. Can anyone name me 10 other ways of doing something once and then getting paid for it over and over again? You are a gent Theo. Do you think I could make anything by writing a poem?

Is it possible to lose all your built up residual income in MLM? Like if certain key people leave the business?

Like to see audited income figures of a 20-year home business where about 52,000 make over $100/mo. part-time? I'm 57. I've tried them all. Only contact me if you are for real. No "looky-loos" or "I need to think and worry some more." Quick review: 1) Simple referral revenue sharing concept; 2)Everyone is a customer and shops direct. No selling products or taking orders or refunds or exchanges. Company handles it all with 100% guarantees; 3) 6 product lines with over +355 unique consumable products used in every household everyday; 4) +95% monthly reorder rates; 5) Exceptional proproprietary products at reasonable prices; 6) Product discounts and member benefits with a low monthly order; 7) Low membership fee; 8) Potential to build lifelong residual monthly income.

Are MLMs/Network Marketing companies a morally acceptable way to make money? Are they and will they continue to be legitamate? People can make money in an MLM, undeniably. The moral issue is: Where is the money coming from? Selling product? Then why not sell the same product in the "real world"? One could argue that you build a residual income from sales through building a network. Most of the compensation plans highly favor the recruiting side.

In Delhi, which MLM Company should I choose to create residual income? Also answer why? I strongly feel that MLM is a great way to create wealth. Personally I have spent alot of time with amway (2 years) but I was not able to built it to the level of security. Now am looking for various other options. Looking for your guidance. Jaspreet 9999051027

what is the fastest way to build your downline in a mlm company? I understand that this is not easy however I still have the passion and desire to create passive residual income.

What's the best kind of website to build for making money? I can't seem to decide what kind of website I want to launch to try and earn residual income through advertisements. It seems like everything has been done, and I don't have many interests myself. Anyone have any ideas? I really want to rake in some good dough by managing a website. Thanks. Could anyone answer in the form of 'not spam'?

Has anyone used Site Build It? I'm looking at maybe purchasing a package to create a residual income on the internet called Site Build It. I was wondering if anyone has used it and how successful they were. Thanks!

What could be some challenges of starting a career as an Insurance Agent in my early 40's? If any? I've got 17 plus years of successful outside sales experience and currently considering a career change that offers residual income. Basically trying to build a business, instead of working for a company who determines my future. Particularly looking in the Insurance industry both residential and commercial. Any feedback would be greatly appreciated!

Should I quit my job? I am a commission only agent for a company. I pay for all my expenses including travel via car (gas,repairs) I had a great start, slowed down, then picked back up, now it seems one bad thing after another. I don't think it is me, the people I have dealt with love my hard work and dedication to helping them. I was on a website today with the arrow on submit ready to apply for a similar job for a great company with a salary+commission and benefits. I couldn't do it. I love my job, the freedom, I've invested a lot into my business, and I love the people I work with. I also love the idea that I can build residual income for life from past sales (the dream) I live on my own with adequate debt and living expenses. I have a side income which pays my bills but doesn't give me a lot of spare money...and it's gonna run out soon. What should I do?! I love what I do but I can't keep living like this...

Where can I find like minded individuals? I am an extremely devoted person. I am really goal oriented because I want to be extravagantly wealthy in the future. I am willing to do anything it takes to make a fortune for myself and build residual income from businesses and cash flow generating real estate. I like Rich Dad Poor Dad, and Network Marketing. who else wants to stop making excuses and make a fortune? or do something great like start a movement. is there anyone out there like me? because if you think like I do then you are a friend that I haven't met yet. Ask yourself these questions? Do you feel as if everyone around you is not on your level? do you often get frustrated with friends and family because you have to dumb yourself down around them?

Which company should a life and health agent choose to make good money with? I live in texas and licensed in both TX and CA in Life and Health. What is a good company to start selling insurance with? I don't want the lead cost to bury me in bills and residual income from my renewals I want annually to build a good book of business. What company should I go with? Are there several good ones to choose from? I need to work now! Thank you in advance.

Best way to avoid social security and medicare taxes from huge sales income in an LLC.? I am in my first year as an LLC and I just closed a huge contract. My income from the contract will be about $450,000, while my expenses were about $250,000. I will have residual and normal income of about $8,000 per month after this closes. I want to take out as much money as possible to pay off personal debt that I incurred while I was "out of work" and building the business. I also want to pay off other personal debt as well. Therefore, I want to pay myself as much money as possible, but pay as little taxes as possible (of course). I primarily want to avoid social security and medicare tax. I understand I can't avoid the income tax. My wife helps me in my business, and I have two kids (both under the age of 10). I have heard that if I pay myself the money as a distribution, then I don't have to pay SS and medicare taxes - but my distribution amount should not exceed my salary. What is the best way to distribute this income and pay the least amount of taxes? Thank

Merchant payment processor agent oppty - what should I ask before signing up with UBC or 1 of their iso's? I am looking into becoming an agent for United Bank Card. They are a merchant payment processor....http://www.isoprogram.com/why_ubc/ I would like to know the following: 1) is it still a good oppty to go out and sell and secure new merchant credit card accounts if so why 2) what questions should I ask any merchant processing company I or ISO I am considering working with regarding compensation, my portfolio of new accounts i bring in which is my book of business or my business i build up 4) What are the advantages or disadvantages of working directly with UBC as a agent Versus an ISO or under another agent 5) If i go work with an ISO or under another agent what questions should I ask him 6) If i go work with an ISO or under another agent I am concerned my compensation and accounts i sign up, since i do not know how this works what should i be asking about compensation, accounts that I pick up are they his or mine, can i sell them off at some point etccc 7) what should I be getting paid on new accounts and how when i am selling credit card machines and opening new merchant accounts not sure what is considered good fair or excellent compensation 8) what should i be thinking about when trying to decide with which merchant credit card processor to work for, need to know how to determine whom would be a good company to tie up with since I will be building a residual income from the accounts i bring to them concerned about getting hurt in terms of the accounts i secure which is my book of business and whether I can sell it off or whatever not sure of what I should be asking myself concerning this area, need to know what is it exactly I should be asking them when it comes to any new accounts i bring in related to credit card merchant accounts, pos systems, atm's...

What are some free, good, website building tools available for download? I'm interested in building a hobbyist website (not a blog though) and hoping to create some residual income from affiliate advertising. I know some HTML.

sfi Internet Marketing business? Is it a part time job or full time job? Is it a real business or scam? Is it world wide income system that really works? Can a person build residual and leveraged income to create real wealth?

Investing In Owner Financing? I am very interested in getting into the real estate market. I had planned to deal with sub prime buyers. However the recent news about the sub prime market has changed my mind. I have an idea, and I am curious what some real estate people think about it! I have the credit score to be able to invest in real estate properties. I am thinking that I can finance residential properties, and then turn around a finance them myself to a buyer via a contract for deed, or something similar. I am figuring I can clear $150-$200/month per property. Here is what I think are the benifits... 1.) I don't have to maintain the property like I would if I rented it. 2.) I get a down payment so the buyers are more likely to stay in the house, and should have a lot higher retention rate. 3.) I build a residual monthly income. 4.) If I do take back a house, I refinance it for another 30 years 5.) The buyer will be responsible for all taxes, insurance, etc. So what do you think? Good or Bad Idea I think the people would be more likely to stay as they would be buying the house, and they would have an initial down payment tied up in the house. Personally if I have to take back the house thats fine, I just don't want to do it every couple of months like with renting...I think doing it this way most people would stay in the houses 5-7 years before they default. I know my uncle made millions by financing land like this in south georgia. I also think it comes into investigating the people your selling too, check them out and make sure they half way decent people with a good job history. I also plan on staying with the lower end houses to start with, so I don't have so much tied up in each property. But, please keep the opinions coming...and thanks!

I want to make money working online? Well recently ive been unemployed, and i'm looking for ways to make enough money online to pay my bills. I don't need much around 20-25 dollars every day for 7 days a weak. I don't mind putting in 4-6 hours a day to reach this. And for the ones that say it's impossible, textbroker.com and slicethepie.com have already made me around 20 dollars a day, although it takes around 10-11 hours of work. Any way i have been considering starting a blog or something, the problem is i don't really know where to start. the niche that i enjoy, since i know i would have to write about something that i enjoy Gaming ( mainly MMORPGs and such ) And Computer support. I enjoy helping people fix a computer problem and so on The other would be just off the wall stuff like geekologie.com The thing with computer repair is i have many year experience in it, it's just finding a job around my home town is almost impossible in this field. Okay, so i'm not sure how to focus a blog on computer repair, or mmorpgs. The only ideas i can come up with are for a computer repair it would have to be almost like a forum, you ask a question i give you answers but those are a dime a dozen right now. Mmorpgs i can only think of doing websites similar to onrpg.com or mmohut.com but again thats not really a blog. So i don't really know how to do a blog about the subjects. Also due to my financial situation right now it would be best if i didnt' have to purchase a web domain or hosting as right now i don't have the money. Of course i wouldn't mind using a place like weebly.com and starting the blog there, and when i get the moeny moving it to my own domain. And just posting ont he weebly site where the new site is located. But any way, i'm wanting to start building a residual income. I don't care if it's starting at 10-20 dollars a month, i can learn to make it grow and multiply. And as for the people who like to say it's impossible shut up i've been making money online, albeit the hard way, i've done it. @common sense, i'm going to assume your a close minded idiot? As i already stated, i have made money online, i'm not looking to be rich, i'm looking to make payments on my bills. And speaking of which, i noticed you post this exact same answer on almost every question of this sort, do you have nothing better to do than to troll?

Any professional or experienced person who is familiar with MLM, please tell me any intel about Quixtar? I have a friend who is VERY ambitious and is building a team through Quixtar. Many of their plans involve consuming the exclusive products sold through Quixtar such as; XS energy drinks, Nutrilite vitamin supplements, and health and beauty products. The convincing and very motivating factors in joining up with this company are things such as: residual income, mass-networking, learning and basically copying mentors who are making atleast 6-figures or are millionaires, and seemingly building your OWN company. The thing is I have done some studies and found out that ALOT of people claim that Quixtar is just a new name for the company Amway who became notorious for some of their procedures. I am just asking for any real professional, experienced, or greatly concerned individual who actually has knowledge either good or bad to share with me about Multi-Level Marketing or/and Quixtar. Any complex information about Quixtar would be gladly accepted. Thank you all for your time!

How much can the owner of a commercial Insurance Agency expect to make? (in Year 1, Year 5, Year 10?)? Hi all, I live in Florida and am currently in my second year of law school. I am looking to get into the insurance business after I graduate to build some form of residual income. My prospective business partner and I plan on working with his father's already established agency in order to gain a better understanding of the business before branching out on our own. The established agency focuses primarily on personal lines (auto, home, life), but does write business for a few commercial businesses. They will also provide us with the necessary software, leads, and training. Our plan is to obtain the state 20-44 license so we can begin selling personal lines and also the 4-40 license which allows us to bypass the course and obtain our 2-20 license in 1 year (Which then allows us to sell general and commercial lines). I figure this can be a low-risk high-reward opportunity to begin during my last year of school but would like get get a little more insight into the opportunities and growth potential of the insurance agency business. Specifically, what type of income we can expect moving forward, which commercial areas are most lucrative, and any reservations, warnings, or advice one may have. Also, I understand this is a commission driven industry and my ability to sell will ultimately determine how much I make. I am just looking for ballpark figures or past experiences that may give me an idea of whether or not the venture can be profitable. I also have 5 years of sales experience.

Are you looking for a way to make extra income - PT or FT? Do you leave your options open for an opportunity to make extra income? Question Details:What if you could make $ every time someone: *Phones a friend *Watches TV *Surfs the Internet *Or, calls a loved one across country! Imagine being in business for yourself but never by yourself; building your own company with an industry leader backing you up all the way. Learn more on how to become an Independent Representative in the fastest industry, worldwide - telecommunications! Have the opportunity to earn an unlimited residual based income and visit: http://myacnshan3139.acnrep.com

Why are people upset about the Martin Luther King, Jr. National Memorial? Their are enough wealthy blacks who could have paid for the construction, workers, quotes, placement of the Martin Luther King, Jr. National Memorial. Yet blacks will complain at the last minute about a China Man using Chinese Earth and Workers to build the Martin Luther King, Jr. National Memorial. I am black and my family never supported Martin Luther King Jr. because he destroyed black business in the U.S.A. I am proud that my family and I own their companies. I am not talking about a fast food chicken business, Funeral Home, Liquor Store. We own companies that produce wealth and long term wealth, Equity, residual income for life.

Need help starting up. Im on a tight shoe-string. poor credit from yrs ago. Can anyone help? I have an ambition and drive to design and set up an ecommerce website and build a future with a residual income. I have spent 4 years learning and researching however, my main obstacle, well, only one, is money. i work full time but due to poor credit rating from mistakes made years ago, i am unable to get any help towards setting it up. I can provide proofs of income and also show further what i am aiming to do and build. I would be grateful to anyone who can point me in the right direction please. i dont even need alot to get set up but its ensuring running costs for those first few months it will take to establish my store. Look forward to hearing from you. regards c.riding 32 minutes ago - 3 days left to answer. Additional Details 21 minutes ago i have been down the road of ebay and lets just say, i had so much trouble with hackers but also, i found the traffic not that effective when having a shop. Also, i spent more than made and i have since learned alot from mistakes made etc etc, i am quite good and enjoy making websites and researching and i have taken my time in choosing the right company/wholesaler/dropship with which to start me off in my shop. i have found the perfect host but my problem is, on a shoe string basically, i live on my own, pay full rent and get no help - my wages vary month to month depending on bonuses, commision and sundays we work - i dont have no savings and am unable to put money aside each month becuase of my outgoings -i manage them but i dont have much to put towards the starting up costs until sales start coming I have already sourced my supplier and I am signed up to be an agent for their clothing range. Its an exciting prospect and instead of a franchise, which they offer, or home party agents, well, computers and websites are my forte.

Can anyone genuinely offer to be a private lender? I have an ambition and drive to design and set up an ecommerce website and build a future with a residual income. I have spent 4 years learning and researching however, my main obstacle, well, only one, is money. i work full time but due to poor credit rating from mistakes made years ago, i am unable to get any help towards setting it up. I can provide proofs of income and also show further what i am aiming to do and build. I would be grateful to anyone who can point me in the right direction please. i dont even need alot to get set up but its ensuring running costs for those first few months it will take to establish my store. Look forward to hearing from you. regards c.riding i have been down the road of ebay and lets just say, i had so much trouble with hackers but also, i found the traffic not that effective when having a shop. Also, i spent more than made and i have since learned alot from mistakes made etc etc, i am quite good and enjoy making websites and researching and i have taken my time in choosing the right company/wholesaler/dropship with which to start me off in my shop. i have found the perfect host but my problem is, on a shoe string basically, i live on my own, pay full rent and get no help - my wages vary month to month depending on bonuses, commision and sundays we work - i dont have no savings and am unable to put money aside each month becuase of my outgoings -i manage them but i dont have much to put towards the starting up costs until sales start coming in. Hi Ranger I totally hear you. Its actually just what ive been doing these past four years. getting my debts paid up and working on my credit file -believe me, ive done my homework and worked through it. Its just now, its a struggle payday to payday, let alone insuring i have enough to cover the hosting fee and other general things needed and required to ensure it can succeed in the long term. This is why now, Im asking for help or advice because although im still very determined to somehow make this happen and then work, its difficult gettingit off the ground to full advantage.

Quick overview about 7 Figure Marketing School. What you thing about this project? Hey, I want to give you a quick overview about 7 Figure Marketing School and I want to know what you thing about this project? The system in this school is very simple, but powerfull: 1) You learn about Internet Marketing - How to Advertise. The founder of 7 Figure Marketing School Vick Strizheus is an expert in Internet Marketing (especially for low cost marketing) and He also invites the Internet Marketers from different ways of marketing to webinars where is step by step coaching. From pay-per-clik to Solo-ad, twitter, you tube marketing, SEO, article marketing, free marketing and much more… So you can start building your income even if you don´t have a lot of money. This is pretty awesome. I have to say that these Internet Marketers reveal us their secret. Vick arrange this for us and all members are very gratefull for that. If you want to learn how to market you have to learn from people who are successfull. From people who are making money on internet. This is very important to understand. Because what was working 6 month ago not working now. We have the fresh informations about Internet Marketing. 2) This is the most exiting. Every wendsday is a webinar about mindset. These webinars are led by Jeremy Brown. He is a business partner of Bob Proctor. (I thing you know him from the movie Secret). Jeremy also invites the best sucessfull coaches on this planet. I can name John Asarraf, Dani Johnson, Dell Daniels, Dr.Ellie Drake, Gregory Drake, Paul Martinelli.... I have to say that how to do internet marketing is one think (very important) but without proper mindset is very difficult to be successfull. Vick pays these guys for us so we can make a huge advance in all areas in our life. Of course the main goal is making money. For example one hour of coaching from Paul Martinelli is worth $5000. Look at his website and call and ask for yourself this is not a joke. Remember that job of these people is making successfull stories. Very very important. I am in school for 3 weeks and I made a huge advance in marketing method. It is awesome, but I made a really huge advance in my personal life also, because these mindset webinars are very very awesome and powerfull. 3) The last think is that you can promote the 7 Figure Marketing School. Vick set up the system in such a way that I can´t believe it. Potencial of income is unbelievable. If you know how to promote and you have a proper mindset the success is guarantee.... You can make a residual income $50,000 per month in first 6 month and this is really really possible... I really recommend to check the website and read carefully before you answer. Take the time. This project is for people who are not satisfied with they results in online business. I will guarantee you that you will be blown away just I was. http://www.theeasymakemoney.com Wish you the best. Wait for your answer. Thank you.... Jiri Majkus

To evaluate a vacant commercial site, an appraiser uses the land residual technique.? Here is the info the appraiser gathered: Cost new of a proper building $250,000 Estimated net income before recapture $32,800 per year, interest rate 8.5% Estimated remaining economic life of building 40 years What is the approximate estimated value of the land using this technique?

What do you want to do before you die? Any goals, or specific accomplishments? I want to be on Forbes Top 400, skydive(accomplished), have a large some of residual income come to me every month, and build a drag car that runs 6 seconds flat.

Who wants to make an income with Melaleuca? A little true research shows the validity of this company. I have been marketing Melaleuca's shopping program for 10 years and have done it very sparingly. I have earned over 290,000.00 with them. I am located in upstate NY but can build on line anywhere in the world with you! I am now looking ro expand out and grow a sizeable business using their program. It truly is the only true residual program available to normal individuals. I would gladly share factual information with anyone who would have a serious interest in an extra income source. If you knew what I knew..... you sign up today! Let me show you what I have learned about home based businesses over the last 10 years.....

Okay I have a lot of questions about my career? My ultimate goal is to build a successful network marketing company that will pay residual income for me to retire on. Don't tell me it won't work and that mlm is a scam, because I KNOW I can succeed with the training I have and the people I know. Now, my plan to get there is to become a massage therapist (to support myself) by going to massage school and getting licensed in a state to begin practice. I will work as an employee for a year or so until I can build a clientele for my own practice. In the meantime, I will be finishing my GED and after about a year of working as a massage therapist I will focus on my Business major in Marketing so that I will be more effective in building my own practice. By the time I earn my degree, my earning power will rise, I will have learned the necessary skills from my major to create a successful private practice, and I will have enough money to support myself to live somewhere. Now, the questions. What state would be best for me to move to, so I can attend a four year college to earn my bachelor's degree, MEANWHILE, the first year attending an accredited massage school, then becoming license, then the next year in my GED, working to support myself, then beginning my own private practice, MEANWHILE, focusing on my major and learning valuable skills to help me not only building my clientele, but also building my network marketing downline, then when I earn my degree and earning power rises and I have my own practice, building my mlm business to eventually retire. So the question is, what state would be BEST, for attending a massage school, meanwhile attending a good four year college to earn my Bachelor's degree, has good job prospects for being a massage therapist, and a good location for this as well, and has a moderate or low cost of living, low enough to support myself in college and as a massage therapist and eventually self employed? I know I have a lot of info here, but I want everyone to understand my plan EXACTLY, and point out any logistical flaws here that I may have missed in my limited amount of time I've researched this career. I'm not asking you to criticize my passions and dreams, I'm just looking for information, and valuable advice. Anything I should be concerned about? Can I support myself doing this? By the way I am 16 and live in California, and my parents have a little money saved up for college, not much...

Business Ideas please? Hi, I am 16 and i want to start my own business, one problem i don't know what to do I want to do yard care and things to that sort but that will end once i get to winter and i want to build my business throughout the year. does anybody have any ideas or know of a business that i could make to help gain some residual income?

credit card and merchant service!!? Whats a good company to work for that will pay high enough for residual income? I live in TX and I will be going around trying to get leads and build my portfolio

Anyone know how to sell insurance??? I am about to start working for an insurance company that expects you to be a very aggressive salesperson... I already went thru licensing and the guy that hired me said the $$$$ is awesome if you just learn to sell the product; he said all I have to do is build a good portfolio of clients (I also have to go out and solicit for the customers) and before I know it I will also be seeing an awesome return in residual income... This is a 100% commission job... What do I do to get customers and how does residual income work???? If someone would please help me, it would be greatly appreciated... Thank You

$100,000 In 60 days with MDBP Magic Software? This one is really work home based is call MDBP magic software which i make over $1,250 a day. The new features - a software program for the money making system by powerful matrix system. Please take advantage of these new marketing tools by this magic software to make residual income. I gaurantee you are the next internet millionaire's in 60 days. This is not a dream, It really is possible to wealth building. *NO SELLING *FREE WEBSITE *FREE EBOOKS AND TONS See Details And Free Download At => http://www.mdb2007.com

im building a Christian website? who are some Christian affiliates that i can link to for residual income and what are some things that i can put on the website itself to attract viewers. The niche of the website is I am trying to collect Christian testimonies from all over the world and publish it into a book. Would you be willing to share your testimony with other people?

Can anyone help me with Accounting questions? TRUE OR FALSE 1. Property taxes on a factory building would be included as part of the cost of products manufactured under the absorption costing concept. 2. The factory superintendent's salary would be included as part of the cost of products manufactured under the variable costing concept. 3. Electricity purchased to operate factory machinery would be included as part of the cost of products manufactured under the absorption costing concept. 4. The contribution margin and the manufacturing margin are usually equal. 5. For a period during which the quantity of inventory at the end was larger than that at the beginning, income from operations reported under variable costing will be smaller than income from operations reported under absorption costing. 6. Property tax expense is an example of a controllable cost for the supervisor of a manufacturing department. 7. The master budget of a small manufacturer would normally include all necessary component budgets except the capital expenditures budget. 8. The budgeted volume of production is based on the sum of (1) the expected sales volume and (2) the desired ending inventory, less (3) the estimated beginning inventory. 9. The budgeted direct materials purchases is based on the sum of (1) the materials needed for production and (2) the desired ending materials inventory, less (3) the estimated beginning materials inventory. 10. Supervisor salaries, maintenance, and indirect factory wages would normally appear in the operating expenses budget. 11. In preparing flexible budgets, the first step is to identify the fixed and variable components of the various costs and expenses being budgeted. 12. Detailed supplemental schedules based on department responsibility are often prepared for major items in the operating expenses budget. 13. The anticipated purchase of a fixed asset for $400,000, with a useful life of 5 years and no residual value, is expected to yield total net income of $300,000 for the 5 years. The expected average rate of return is 30%. 14. The anticipated purchase of a fixed asset for $400,000, with a useful life of 5 years and no residual value, is expected to yield total net income of $200,000 for the 5 years. The expected average rate of return on investment is 25.0%. 15. The computations involved in the net present value method of analyzing capital investment proposals are less involved than those for the average rate of return method. 16. For years one through five, a proposed expenditure of $250,000 for a fixed asset with a 5-year life has expected net income of $40,000, $35,000, $25,000, $25,000, and $25,000, respectively, and net cash flows of $90,000, $85,000, $75,000, $75,000, and $75,000, respectively. The cash payback period is 3 years. 17. If in evaluating a proposal by use of the net present value method there is an excess of the present value of future cash inflows over the amount to be invested, the rate of return on the proposal exceeds the rate used in the analysis. 18. Charitable contributions are often used as a means of reducing the amount of income tax expense arising from capital investment projects. 19. Capital rationing is the process by which management decides how to divide the capital budget among the various departments or divisions in the company. 20. Zorn Co. budgeted $600,000 of factory overhead cost for the coming year. Its plant-wide allocation base, machine hours, is budgeted at 100,000 hours. Budgeted units to be produced are 200,000 units. Zorn's plant-wide factory overhead rate is $6.00 per unit. 21. If the budgeted factory overhead cost is $460,000, the budgeted direct labor hours is 80,000, and the actual direct labor hours is 6,700 for the month, the amount of factory overhead to be allocated is $38,525 (if the allocation is based on direct labor hours). 22. When production departments differ significantly in their manufacturing process, it is recommended that the single plantwide factory overhead rate be used for allocating factory overhead. 23. ABC costing is used to allocate selling and administrative expenses to each product based on the product’s individual differences in consuming these activities. 24. If the budgeted factory overhead cost is $460,000, the budgeted direct labor hours is 80,000, and the actual direct labor hours is 6,700 for the month, the factory overhead rate for the month is $68.65 (if the allocation is based on direct labor hours). 25. Service companies can effectively use activity-based costing to compute product (service) costs. Thanks

Survey: making money form home? Imagine an ideal scenario for you, and then answer each of the following questions. I'm trying to build something big, so please take these questions seriously. 1. What would you do for a living? (3 words max) 2. How much time would you commit per week? 3. What type of affiliation? (employent, direct own biz, mlm own biz, contract) 3. What income structure? (Performance, salary, hourly, residual) 4. How much income/yr? 5. Would you consider an up-front investment? (such as buying materials, or admission fee, etc) If so, how much is optimal? 6. What would be acceptable reasons for investment? (skip if "no" for #5) training? support? what type? etc 7. Have you made money online form home before? If so, how (in 3 words max, no urls please.)? 8. What would be the best product to work with in your opinion? physical items, educational materials, marketing/advertisement 9. Would you agree to mail or ship products/materials/items? 10. Would you agree to call/receive calls? Thanks a ton for your time! I really appreciate your input. Be Blessed! The more answers I get - the better idea I will have as to what to do. Please refrain from advertising here. I really do need the aswers. A post such as "we already have everythng come to [website]" will be reported.

Which job would you choose? Suggestions welcome!? Here are the two positions am I trying to decide on. Both with very well known reputable companies: 1) Auto Finance Sales Salary- 33k plus incentives income potential gntd to range between 45-60k a yr. Schedule: 12-9 M-Th, 9-6 on Fri, also including 1 Sat a month 10-2 which will increase income by additional 1.5k a yr. (45hrs) Job duty: To sell inbound auto (leads) converting to loans (pur, refi) that have already been entered by other referral sources (i.e lending tree,company mailer,etc.) This job would be aprox. 40min commute 2) Insurance Sales Agent Salary: 33k flat plus incentives and bonus After yr 3 overall pay can increase after 3yr since book of insurance biz has been built up in yr 1-3 then you receive residual + % of new business written. Bns income aprox. 5-15k per yr totaling aprox. 38-50k per yr. Schedule: M,W 12-8, T,Th,Fr 10-5 (37hrs) to start but then flex (u set) Job Duty: To sell outbound leads, min.100 outbnd calls daily for curr cust leads.Commute15mins

financial accounting question? Wagner Company purchased a retail shopping center on January 1, 2007, at a cost of $612,000. Wagner estimated that the life of the building would be 25 years and the residual value at the end of 25 years would be $12,000. On January 1, 2008, the company made several expenditures related to the building. The entire building was painted and floors were refinished at a cost of $115,200. A local zoning agency required Wagner to install additional fire protection equipment, including sprinklers and built-in alarms, at a cost of $87,600. With the new protection, Wagner believed it was possible to increase the residual value of the building to $30,000. In 2009, Wagner altered its corporate strategy dramatically. The company sold the retail shopping center on January 1, 2009, for $360,000 cash. Required: Determine the amount of depreciation that should be reflected on the income statement for 2007 and 2008. Use positive numbers for all amounts unless otherwise directed. If necessary, round any depreciation calculations to the nearest dollar. 1) year 2008 depreciation amount? What amount of gain or loss did Wagner record when it sold the building? What amount of gain or loss would have been reported if the fire protection equipment had been expensed in 2008? \ 2) The gain/(loss) on the sale of the building was? $ 3) Had Wagner expensed the cost of the fire equipment in 2008, the gain/(loss) on the sale would have been? $

"(Indian National) Congress prejudices hit economic federalism"? The fifth Vibrant Gujarat summit this January saw 7,936 memoranda of understanding (MoUs) announced, committing to invest $462 billion. The cream of Indian business was in Gandhinagar for the summit, as were business delegations from as far apart as Japan, the United States and Brazil. Forty-five countries and 19 other (non-Gujarat) Indian states made presentations and solicited business opportunities at an event that has established itself as India’s premier investor conference. Missing at Vibrant Gujarat was the Indian public sector, those companies owned by the Union government. ICICI Bank signed a deal with Gujarat promising credit to developers and users of infrastructure projects. At least six Indian public sector banks had negotiated similar arrangements but were prevented from finalising these following instructions from the finance ministry in New Delhi. Last week, the income-tax (I-T) department, acting on a vague complaint by Congress politicians in Gujarat, asked the Narendra Modi government to furnish details of all investors and companies that had agreed to put in at least Rs1,000 crore. These would be investigated for possible tax evasion. It was clear the UPA government was out to sabotage Vibrant Gujarat and send a menacing signal to business groups that had flocked there. There are three issues worth noting here. First, the I-T department’s notice to Gujarat is not just blatantly political but also illogical. If X buys a house from Y and pays Y with money that has been earned illegally, the tax authorities need to serve a notice on X, not on Y. That apart, investment coming into Gujarat, whether from Mauritius or Mumbai or Manhattan, is being routed through banking channels and not arriving in suitcases. If the finance ministry and its agencies want to scrutinise these channels, they can do so even without telling the Gujarat administration. So what explains this sledgehammer message to the Modi government? Second, it is possible — though of course improbable — that the Congress-led government in New Delhi has decided upon a crusade against black money, and that it believes corporate India (as well as foreign entities investing in Gujarat/India) are awash in ill-gotten wealth, in profits from the narcotics trade and organised crime and so on. It may even believe Vibrant Gujarat has become a rendezvous of such evil money. If so, why did Congress-run states such as Andhra Pradesh participate in Vibrant Gujarat, and attempt to persuade the same companies that were investing in Modi territory to pour funds in their direction as well? Should the I-T department send a notice to the Andhra Pradesh government as well, asking it why it is soliciting investment from suspected tax evaders and sources of criminal capital? Alternatively, does the colour of money change (from black to white or maybe ‘communal’ to ‘secular’) when it leaves Gujarat and enters, for example, Maharashtra? Third, the Gujarat episode only affirms the need to redefine the contours of economic federalism. In Gujarat, the Congress tells public sector companies to stay away and blackmails the private sector. In Orissa, the BJD government’s efforts to revolutionise the economy, by getting Posco to set up a giant steel facility and Vedanta to build an aluminium plant, are tripped by a prejudiced environment ministry and its handpicked committees. In Uttar Pradesh, the BSP government’s proposal to host a new airport in the western part of the state - bordering the national capital, in the region between Greater Noida and Aligarh - is cussedly denied the green signal. The Congress wants to wait till the 2012 state election so that Rahul Gandhi can make the new airport a poll promise and deprive Mayawati of credit. India has moved enormously since 1991 and states have far greater economic and financial autonomy today. Even so, the residual powers that remain with the Union government can be leveraged to lethal effect by a bloody-minded ruling party. This is exactly what is happening in state after state ruled by non-UPA parties, particularly those showing business potential. In the 1980s, an underlying principle of non-Congress unity was political federalism and the need to guard against misuse of Article 356, which allowed the Union government to dismiss state governments at whim. Today, economic federalism is under siege. The NDA needs to make greater freedom for the states in economic policy, decision-making and regulation one of its core goals. After the UPA experience, New Delhi can’t be trusted. Ask Gandhinagar, Bhubaneswar, Lucknow http://www.dnaindia.com/india/analysis_cong-prejudices-hit-economic-federalism_1522711 Any more evidence needed that we need to chuck the INC out?!?!

hey, im a high school student can you please help me answer this adjustments all i need is just the entries? A. rent income received but not earned, recorded in the rent income account, 5000 B. unexpired insurance, recorded in the insurance expense account, 5,500 C. Building cost, 2,800,000; estimated residual value after a service life of 25 years, 300,000; accounting period, 6 months D. Interest expense paid in advance, recorded in the interest expense account, 2,500 E. Note payable outstanding: A 300,000, 6 %, 90 day note dated Nov 1,2004. accounting period ends december 31,2004 F. Compensation for delivery truck service performed by Mabili stores for Matawad Company but not received, 1,500. (Mabili Stores books) G. credit sales, 160,000; estimated uncollectible accounts expense, 1% of credit sales H. Interest accrued on notes payable, 500 I. interest earned but not recorded, 600 J. Advertising material inventory included in the Advertising expense account, 2,250 K. Office supplies consumed, recorded in the office supplies inventory account , 2,500 L. rent income collected in advance, recorded in the rent income account, 20,000 M. expired insurance, recorded in the prepaid insurance account , 18,000 N. estimated uncollectible accounts expense, 12,500 O. the prepaid insurance account has a debit balance of 3,000. A new insurance policy paid for during the year was debited to insurance expense, 1,800. the insurance for the current year amounted to 2,400. P. Rent income earned, recorded in rent collected in advance account, 18,000.

what adjusting entries are compatible for the datas? A. rent income received but not earned, recorded in the rent income account, 5000 B. unexpired insurance, recorded in the insurance expense account, 5,500 C. Building cost, 2,800,000; estimated residual value after a service life of 25 years, 300,000; accounting period, 6 months D. Interest expense paid in advance, recorded in the interest expense account, 2,500 E. Note payable outstanding: A 300,000, 6 %, 90 day note dated Nov 1,2004. accounting period ends december 31,2004 F. Compensation for delivery truck service performed by Mabili stores for Matawad Company but not received, 1,500. (Mabili Stores books) G. credit sales, 160,000; estimated uncollectible accounts expense, 1% of credit sales H. Interest accrued on notes payable, 500 I. interest earned but not recorded, 600 J. Advertising material inventory included in the Advertising expense account, 2,250 K. Office supplies consumed, recorded in the office supplies inventory account , 2,500 L. rent income collected in advance, recorded in the rent income account, 20,000 M. expired insurance, recorded in the prepaid insurance account , 18,000 N. estimated uncollectible accounts expense, 12,500 O. the prepaid insurance account has a debit balance of 3,000. A new insurance policy paid for during the year was debited to insurance expense, 1,800. the insurance for the current year amounted to 2,400. P. Rent income earned, recorded in rent collected in advance account, 18,000.

accounting question please help!!? (TCO 9) Thurman Munster, the owner of Adams Family RVs, is considering the addition of a service center his lot. The building and equipment are estimated to cost $1,100,000 and both the building and equipment will be depreciated over 10 years using the straight-line method. The building and equipment have zero estimated residual value at the end of 10 years. Munster’s required rate of return for this project is 12 percent. Net income related to each year of the investment is as follows: Revenue $450,000 Less: Material cost $ 60,000 Labor 100,000 Depreciation 110,000 Other 10,000 280,000 Income before taxes 170,000 Taxes at 40% 68,000 Net income $102,000 (a) Determine the net present value of the investment in the service center. Should Munster invest in the service center? (b) Calculate the internal rate of return of the investment to the nearest ½ percent. (c) Calculate the payback period of the investment. (d) Calculate the accounting rate of return.

Depreciation of a building.? Stone Co. purchased a bldg on a tract of land and allocated the entire cost of the purchase to building. Normally it depreciates buildings over 20 years using the straight-line method with zero residual value and does not depreciate land. Because of its accounting treatement of the purchase, Stone's income before taxes for the next 20 years will be a. overstated. b. understated. c. unaffected. d. in conformance with GAAP.

Intermediate Accounting Help PLEASE? Events concerning the Elton Company for 2010 are described below: A. On September 1, 2010, a two-year comprehensive insurance policy was purchased for $3,600. The payment was debited to Prepaid Insurance. B. On December 1, 2010, a customer paid $950 in advance for services to be performed in January of 2011. The payment was credited to Unearned Revenue C. On January 1, 2010, the office supplies account had a $250 balance. Supplies costing $2,500 were purchased during the year. At December 31, an inventory count showed $100 of supplies on hand. D. On December 31, 2010, $3,200 of unpaid employee salaries had accumulated. No entry for these salaries has been recorded. E. Straight-line depreciation is recorded only at year-end and is being used for a building that was purchased at the beginning of 2005 for $25,000, with an expected life of 30 years and an estimated residual value of $2,500. F. The income tax rate is 30% on current income. Pretax income before the above adjusting entries was $38,700. Required: Prepare the appropriate December 31, 2010, adjusting entry for each item, or indicate that an adjusting entry is not necessary. Assume that Elton’s transactions were initially recorded in real (balance sheet) accounts unless otherwise indicated.

i need help for accounting questions? Under the cost principle, a company capitalizes: any interest incurred in borrowing money to help pay for asset acquisitions. all reasonable and necessary costs of acquiring an asset and preparing it for use. all ordinary repair expenditures incurred in the use of an asset. the total market value of individual assets acquired in a ‘basket purchase'. All else equal, when a company uses excess cash to buy back some of its outstanding common stock, which of the following ratios will be affected directly in the manner described below? Earnings per share (EPS) will increase. The receivables turnover ratio will increase. The return on equity (ROE) will decrease. The inventory turnover ratio will increase. Which of the following accounts could have a non-zero balance on a post-closing trial balance? Dividends declared Income tax expense Interest expense Premium on bonds payable Sales tax collected by a company is normally reported as income tax expense. a current liability. an asset. an operating expense. The date of record for a dividend is the date on which the company: debits Dividends Payable and credits Cash for the dividend amount. debits Dividends Declared and credits Dividends Payable for the amount of the dividend. debits Dividend Expense and credits Cash for the dividend amount. establishes who will receive the dividend payment. Flynn Corporation had the following cash flows for the current year. The company uses the direct method in preparing the statement of cash flows Cash receipts from issuance of stock $120,000 Bonds payable issued at face value $500,000 Dividends received from long-term investments $9,000 Cash paid for wages $40,000 Cash paid for dividends $10,000 Cash received from customers $85,000 Cash paid for other operating expenses $39,000 Cash paid to purchase equipment $200,000 What is the net cash flows from operating activities? $5,000 $15,000 ($4,000) ($75,000) What is the net cash flows from investing activities? $410,000 ($190,000) ($200,000) $420,000 If the cash balance at the beginning of the current year was $0, what is the amount of cash at the end of the year? $112,500 $311,500 $425,000 $737,500 When a company sells stock to the public for the first time, the sale is called a(n): initial public offering (IPO). first time issue (FTI). seasoned new issue (SNI). initial stock offering (ISO). If a company's P/E ratio suddenly decreases: you should buy more of the stock to increase your average gain. the company probably announced higher earnings forecasts. you should sell the stock as soon as possible. the market must have reacted to some bad news that is expected to affect the company in the future. Which of the following statements is true when the straight-line method is used to compute depreciation? Depreciation expense per period is the depreciable cost divided by the number of periods in the asset's useful life. The carrying value of an asset is a constant amount during the asset's useful life. Accumulated depreciation is a constant amount during the asset's estimated useful life. The book value of an asset is an increasing amount during the asset's useful life. The effect of a stock dividend is to: increase the market value per share of common shares. decrease total assets and total liabilities. decrease total assets and stockholders' equity. change the composition of stockholders' equity. If the double-declining balance method were used to depreciate a building that has a 10-year useful life and a residual value equal to 10% of the building's original cost, what depreciation rate would be used? 9% 20% 18% 10% A loss on disposal of an asset is reported: in the Operating Revenues section of the income statement. as a direct decrease to the asset account on the balance sheet. as a direct increase to the asset account on the balance sheet. in the Operating Expenses section of the income statement.

journalizing....accounting? During 2010, Chun Book Store paid $487,000 for land and built a store in Akron. Prior to construction, the city of Akron charged Chun $1,400 for a building permit, which Chun paid. Chun also paid $15,320 for architect’s fees. The construction cost of $690,000 was financed by a long-term note payable, with interest cost of $28,300 paid at completion of the project. The building was completed September 30, 2010. Chun depreciates the building by the straight-line method over 35 years, with estimated residual value of $337,000. 1. Journalize transactions for: a. Purchase of the land b. All the costs chargeable to the building in a single entry c. Depreciation on the building 2. Report Chun Book Store’s plant assets on the company’s balance sheet at December 31, 2010. 3. What will Chun’s income statement for the year ended December 31, 2010, report for this situation? all your help would be very appreciated.

More Accounting Questions Please Help!? Current accounting standards indicate that costs of intangible assests with an indefinite life, such as goodwill, should... 1) Not be amortized. 2) Be reported on the statement of retained earnings in the year in which acquired. 3) Be amortized over a reasonable period of time not to exceed 40 years. 4) Be debited to an expense account entirely in the year in which aquired. Which of the following sets of factors is needed to caculate depriciation on plant and equipment? 1)The asset's acquisition cost, replacement cost, and it's estimated residual value 2) The estimated residual value of asset, it's replacement cost, and it's market value 3) The asset's replacementcost, it's estimated life, and its estimated residual value 4) The estimated life of the asset, it's acquisition cost, and it's estimated residual value If a company constructs an asset over a period of time and borrow money, the amount of interest incurred during construction on the borrowed money is 1) capitalized as part of the cost of the plant asset 2)Amortized over the construction period 3) Reported as interest expense on the income statement 4)Reported as depletion on the income state Mike hardy bought a pub. The purchase price was $695,000. An appraiser provided the following appraisal values: land $320,000: building $370,000 and equipment $60,000. What cost should be allocated to the building? 1)$370,000 2)$695,000 3)342,867 4)399,281

Accounting test..HELP!!!? here is a tst i hav ei need some help! 1. A characteristic of a fixed asset is that it is a. intangible b.used in the operations of a business c.held for sale in the ordinary course of the business d.a long term investment 2. Land acquired so it can be resold in the future is listed in the balance sheet as a(n) a. fixed asset b. current asset c. investment d. intangible asset 3. Which of the following should be included in the acquisition cost of a piece of equipment? a. transportation costs b.installation costs c. testing costs prior to placing the equipment into production d. all are correct 4. Which of the following is included in the cost of constructing a building? a. insurance costs during construction b. cost of paving parking lot c. cost of repairing vandalism damage during construction d. cost of removing the demolished building existing on the land when it was purchased 5. Accumulated Depreciation a. is used to show the amount of cost expiration of intangibles b. is the same as Depreciation Expense c. is a contra asset account d. is used to show the amount of cost expiration of natural resources 6. Expenditures that add to the utility of fixed assets for more than one accounting period are a. committed expenditures b. revenue expenditures c. current expenditures d. capital expenditures 7. A capital expenditure results in a debit to a. an expense account b.a capital account c. a liability account d. an asset account 8. In a lease contract, the party who legally owns the asset is the a. lessee b. lessor c. operator d. banker 9.All leases are classified as either a. capital leases or long-term leases b. capital leases or operating leases c. operating leases or current leases d. long-term leases or current leases 10. Factors contributing to a decline in the usefulness of a fixed asset may be divided into the following two categories a. salvage and functional b. physical and functional c. residual and salvage d. functional and residual 11. A fixed asset's estimated value at the time it is to be retired from service is called a. book value b. residual value c. market value d. carrying value 12. When the amount of use of a fixed asset varies from year to year, the method of determining depreciation expense that best matches allocation of cost with revenue is a. declining-balance b. straight-line c. units-of-production d. MACRS 13. The most widely used depreciation method is a. straight-line b. sum-of-the-years-digits c. declining-balance d. units-of-production 14. The depreciation method that does not use residual value in calculating the first year's depreciation expense is a.straight-line b. units-of-production c. double-declining-balance d. none of the above 15. Expected useful life is a. calculated when the asset is sold. b. estimated at the time that the asset is placed in service. c. determined each year that the depreciation calculation is made. d. none of the answers are correct 16. The accumulated depletion account is a. an expense account b. an intangible asset account c. reported on the income statement as other expense d. reported on the balance sheet as a deduction from the cost of the mineral deposit 17. The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called a. depletion b. deferral c. amortization d. depreciation 18. Expenditures for research and development are generally recorded as a. current operating expenses b. assets and amortized over their estimated useful life c. assets and amortized over 40 years d. current assets 19. The term applied to the amount of cost to transfer to expense resulting from a decline in the utility of intangible assets is a. amortization b. depletion c. depreciation d. allocation 20. The exclusive right to use a certain name or symbol is called a a. franchise b. patent c. trademark d. copyright HEELLPPP PLEASE I NEED HELP

Missed a week of class due to flu, need help answering these ACCOUNTING hw questions!? 1. A company acquired some land for $80,000 to construct a new office complex. Legal fees paid were $2,300, delinquent taxes assumed were $3,400 and $5,850 was paid to remove an old building. What is the cost basis for the land? a.$90,600 b.$91,550 c.$88,150 d.$87,200 2. Which of the following would NOT qualify as a capital expenditure? a.Overhauled an engine b.Installed new parking lot c.Replaced tires on company trucks d.Replaced the warehouse roof 3. Equipment was purchased for $32,000. It has a useful life of 5 years and a residual value of $4,000. What is depreciation expense for year two under the double declining balance method? a.$5,600 b.$6,720 c.$7,680 d.$12,800 4. A machine with a useful life of 10 years and a salvage value of $4,000 was purchased for $27,000. What is annual depreciation under the straight-line method? a.$2,300 b.$2,700 c.$4,600 d.$5,400 5. If a fixed asset is sold and the book value is less than cash received, the company must __________. a.Recognize a loss on the income statement under other expenses b.Recognize a loss on the income statement under operating expenses c.Recognize a gain on the income statement under other revenues d.Gains and losses are not to be recognized upon the sale of fixed assets 6. Which of the following is NOT an intangible asset? a.Goodwill b.Trademark c.Copyrights d.Long-term receivable 7. A gain is recorded on the sale of fixed assets when __________. a.The asset is sold for a price less than its book value b.The assets book value is less than the cash received c.A gain on sale is not permitted to be recognized d.Accumulated depreciation is less than the cash received 8. A capital expenditure would appear on the __________. a.Income statement under operating expenses b.Balance sheet under fixed assets c.Balance sheet under current assets d.Income statement under other expenses Thanks so much in advance, I really just need the answers, it's for homework... I can get the info behind them in class, I missed a whole week of class due to the flu!! ugh, thanks so so so much for anyone who answers this, any of them would be greatly appreciated!!!!!!!!

Can someone please help me out with these accounting homework questions? 1. A company acquired some land for $80,000 to construct a new office complex. Legal fees paid were $2,300, delinquent taxes assumed were $3,400 and $5,850 was paid to remove an old building. What is the cost basis for the land? a.$90,600 b.$91,550 c.$88,150 d.$87,200 2. Which of the following would NOT qualify as a capital expenditure? a.Overhauled an engine b.Installed new parking lot c.Replaced tires on company trucks d.Replaced the warehouse roof 3. Equipment was purchased for $32,000. It has a useful life of 5 years and a residual value of $4,000. What is depreciation expense for year two under the double declining balance method? a.$5,600 b.$6,720 c.$7,680 d.$12,800 4. A machine with a useful life of 10 years and a salvage value of $4,000 was purchased for $27,000. What is annual depreciation under the straight-line method? a.$2,300 b.$2,700 c.$4,600 d.$5,400 5. If a fixed asset is sold and the book value is less than cash received, the company must __________. a.Recognize a loss on the income statement under other expenses b.Recognize a loss on the income statement under operating expenses c.Recognize a gain on the income statement under other revenues d.Gains and losses are not to be recognized upon the sale of fixed assets 6. Which of the following is NOT an intangible asset? a.Goodwill b.Trademark c.Copyrights d.Long-term receivable 7. A gain is recorded on the sale of fixed assets when __________. a.The asset is sold for a price less than its book value b.The assets book value is less than the cash received c.A gain on sale is not permitted to be recognized d.Accumulated depreciation is less than the cash received 8. A capital expenditure would appear on the __________. a.Income statement under operating expenses b.Balance sheet under fixed assets c.Balance sheet under current assets d.Income statement under other expenses Thanks so much in advance, I really just need the answers, it's for homework... I can get the info behind them in class, I missed a whole week of class due to the flu!! ugh, thanks so so so much for anyone who answers this, any of them would be greatly appreciated!!!!!!!!

How do I adjust these balances in the accounting question please help me? The trial balance for T-shirts Inc. for December 31, 2008, is presented below. Debit balances Credit balances Cash$ 84,500 Accounts receivable35,000 Inventory95,000 Office supplies11,500 Prepaid rent3,000 Land 84,000 Building146,000 Accumulated amortization-building$ 19,500 Accounts payable18,400 Deposits from customers (Revenue received in advance)21,400 Bank loan, 9%, long-term31,000 Common shares 150,000 Retained earnings16,500 Sales840,000 Cost of goods sold480,000 Salaries and wages95,000 Rent expense43,000 Miscellaneous expenses13,800 Dividends declared6,000 Totals$ 1,096,800 $ 1,096,800 Additional information for adjusting entries: The deposits from customers had been made for future deliveries. As at December 31, one-quarter of these goods had been delivered. The bank loan was taken out on March 1, 2008. The first interest payment is due on March 1, 2009. Salaries and wages owed at year end but not paid are $3,400. Rent is paid in advance on the last day of the month.The $3,000 balance in prepaid rent represents the monthly rent for January 1, 2008. At the end of January 2008, $3,000 was paid for the February rent and was debited directly to rent expense. All payments during the year were treated the same way.The rent for July to December increased to $4,000 per month. (Hint: The rent expense of $43,000 shown above includes five months at $3,000 and seven months at $4,000. However, this is not correct. You have to determine the correct amount of the expense for 2008, as well as the correct amount that has been prepaid for 2009, and make an adjustment to bring both these accounts to the correct balances.) A count of the office supplies inventory revealed that $950 of office supplies were still on hand at year end. The building is being amortized over 20 years with a residual value of $20,000. Income tax for the year should be calculated using a tax rate of 15%. (Hint: After you finish the other adjusting entries, you will have to determine the income before income tax and then calculate the tax as 15% of this amount.) Required: Prepare the adjusting entries. Round all amounts to nearest whole dollar. DateAccount Titles and ExplanationsDebitCredit 1.Deposits from customers 5350 Sales 5350 2.Interest expense Interest payable 3.Salaries and wages expense 3400 Salaries payable 3400 4.Prepaid rent Rent expense 5.Office supplied used 10550 Office supplies 10550 6.Amortization expense Accumulated amortization 7.?????????????? Income tax payable

Wallace & Sarah hav decided to purchase? 11. Wallace and Sarah have decided to purchase furniture for their new home. They have two payment options. The first option is to pay a cash payment of $4,200. The second option is to finance the furniture with a two-year installment loan. The loan requires a 12% down payment and 24 equal monthly payments of $195. According to this information, what would be the finance charge on the loan? A. $3,696 C. $504 B. $984 D. $175 12. Using the information in Question 11, what is the total deferred payment price of the furniture? A. $4,200 C. $5,184 B. $4,680 D. $5,664 13. SXXXX XXves in a city that has a state sales tax of 6%. If she purchases a stereo system for $249.50, what will Sandy pay in state sales tax? A. $18.71 C. $12.48 B. $14.97 D. $3.74 14. What total purchase price does Sandy pay for the stereo system in Question 13? A. $268.71 C. $264.47 B. $268.21 D. $253.24 15. When you’re preparing an income statement, to calculate gross margin, you must subtract A. sales discounts and sales returns and allowances from gross sales. B. cost of goods sold from net sales. C. income tax from income before taxes. D. total operating expenses from net sales. 16. Figure A-3 lists financial information for the month of September for a large clothing store. Using the retail method of inventory, estimate the value of the ending inventory at cost on September 30. A. $12,283 C. $140,432 B. $115,000 D. $143,750 Use this illustration to answer Question 16. Brandy’s Boutique Financial Highlights for September 1-September 30 Beginning Inventory Cost $575,000 Retail $718,750 Net Purchase (Sept) Cost $60,000 Retail $75,000 Net Sales (Sept) Cost $0 Retail $650,000 17. The method used to calculate depreciation for federal income tax purposes is the A. sum-of-the-years’ digits method. B. declining-balance method. C. units-of-production method. D. modified accelerated cost recovery system method. 18. Jay Corp. bought a machine for $15,000. The machine is expected to produce 10,000 units. The machine has a residual value of $5,000. Assuming the machine produces 400 units during Year 1, what should the depreciation expense be? A. $100 C. $400 B. $300 D. $800 19. The range of 105, 100, 79, 86, 101, 94, 98, 87, and 83 is A. 26. C. 94. B. 92. D. 96. 20. Which of the following statements regarding term insurance is true? A. It provides temporary protection. B. It builds up cash value. C. It pays more than the face amount. D. It’s more expensive than straight life. Please help me correct my answers. Thank you 11. b 12. b 13. b 14. c 15. b 16. b 17. d 18. c 19. a 20. a

HOW TO SOLVE THE PROBLEM? **ACCOUNTING**? HOW TO SOLVE THE PROBLEM? The property owners provide the following data; Gold Rush Resorts and Mountain Hideway Balance Sheets December 31,2010 Gold Rush resorts Mountain hideway Cash ( gold rush) $31,000 (mount hideway) $63,000 Accounts receivable (gold rush) $20,000 (mount hideway) $18,000 inventory (gold rush) $64,000 (mount hideway) $70,000 land (gold rush )$270,000 (mount hideway) $669,000 buildings (gold rush) $1,200.000 (mount hideway) $1,500.000 accumulated depreciation-buildings( gold rush) $(20,000) (mount hideway) $(100,000) furniture (gold rush) $750,000 (mount hideway) $900,000 accumulated depreciation-furniture (gold rush) $(75,000) (mount hideway) $(180,000) total assets (gold rush) $2,240.000 (mount hideway) $2,940.000 total liabilities (gold rush) $1,300.000 (mount hideway) $1,000.000 owner’s equity (gold rush) $940,000 (mount hideway) $1,940.000 total liabilities and owners equilty(gold rush) $2,240.000 (mount hideway) $2,940.000 Income statements for the last year report net income of $500.00 for Gold Rush Resort and $400.00 for Mountain Hideway Inventories: Gold rush resorts uses the FIFO inventory method, and Mountain hideway uses LIFO. If Gold Rush had used LIFO, its ending inventory would have been $7000 lower. Plant assets: Gold rush uses the straight-line depreciation method and an estimated useful life of 40 year foe buildings and 10 years for furniture. Estimated residual values are $400.000 for buildings and $0 for furniture. Gold rush buildings are one-year old. Annual depreciation ecxpense for buildings is $20.000 and 75.000 per year on the furniture. Mountain hideway uswes the double-declining-balance method and depreciates buildings over 30 years. The furniture, also one-year old, is being depreciated over 10 years. First year depreciation expense for the building is $100.000 and $180.000 for the furniture. Accounts Receivable: Gold rush uses the direct write-off method for uncollectibles, Mountain hideway uses the allowance method. The Gold rush owner estimates that $ 2.000 of the company’s receivables are doubtful. Mountain hideway receivables are already reported at net realizable value Requirements To compare the two resorts, converty gold rush net income to the accounting methods and the estimated useful lives used by Mountain hideway. Compare the two resorts’ net incomesw after you have revised gold rush’s figures. Whish resort looked better at the outset? Which looks better when they are placed on equal footing?

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Accounting Test HELP!!!? here is a tst i hav ei need some help! 1. A characteristic of a fixed asset is that it is a. intangible b.used in the operations of a business c.held for sale in the ordinary course of the business d.a long term investment 2. Land acquired so it can be resold in the future is listed in the balance sheet as a(n) a. fixed asset b. current asset c. investment d. intangible asset 3. Which of the following should be included in the acquisition cost of a piece of equipment? a. transportation costs b.installation costs c. testing costs prior to placing the equipment into production d. all are correct 4. Which of the following is included in the cost of constructing a building? a. insurance costs during construction b. cost of paving parking lot c. cost of repairing vandalism damage during construction d. cost of removing the demolished building existing on the land when it was purchased 5. Accumulated Depreciation a. is used to show the amount of cost expiration of intangibles b. is the same as Depreciation Expense c. is a contra asset account d. is used to show the amount of cost expiration of natural resources 6. Expenditures that add to the utility of fixed assets for more than one accounting period are a. committed expenditures b. revenue expenditures c. current expenditures d. capital expenditures 7. A capital expenditure results in a debit to a. an expense account b.a capital account c. a liability account d. an asset account 8. In a lease contract, the party who legally owns the asset is the a. lessee b. lessor c. operator d. banker 9.All leases are classified as either a. capital leases or long-term leases b. capital leases or operating leases c. operating leases or current leases d. long-term leases or current leases 10. Factors contributing to a decline in the usefulness of a fixed asset may be divided into the following two categories a. salvage and functional b. physical and functional c. residual and salvage d. functional and residual 11. A fixed asset's estimated value at the time it is to be retired from service is called a. book value b. residual value c. market value d. carrying value 12. When the amount of use of a fixed asset varies from year to year, the method of determining depreciation expense that best matches allocation of cost with revenue is a. declining-balance b. straight-line c. units-of-production d. MACRS 13. The most widely used depreciation method is a. straight-line b. sum-of-the-years-digits c. declining-balance d. units-of-production 14. The depreciation method that does not use residual value in calculating the first year's depreciation expense is a.straight-line b. units-of-production c. double-declining-balance d. none of the above 15. Expected useful life is a. calculated when the asset is sold. b. estimated at the time that the asset is placed in service. c. determined each year that the depreciation calculation is made. d. none of the answers are correct 16. The accumulated depletion account is a. an expense account b. an intangible asset account c. reported on the income statement as other expense d. reported on the balance sheet as a deduction from the cost of the mineral deposit 17. The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called a. depletion b. deferral c. amortization d. depreciation 18. Expenditures for research and development are generally recorded as a. current operating expenses b. assets and amortized over their estimated useful life c. assets and amortized over 40 years d. current assets 19. The term applied to the amount of cost to transfer to expense resulting from a decline in the utility of intangible assets is a. amortization b. depletion c. depreciation d. allocation 20. The exclusive right to use a certain name or symbol is called a a. franchise b. patent c. trademark d. copyright HEELLPPP PLEASE

TRUE OR FALSE? Help!!!! I need help determining which ones are true or false!? 1. When land is purchased to construct a new building, the cost of removing any structures on the land should be charged to the building account. 2. Standby equipment held for use in the event of a breakdown of regular equipment is reported as property, plant, and equipment on the balance sheet. 3. A capitalized asset will appear on the balance sheet as a long term asset. 4. All property, plant, and equipment assets are depreciated over time. 5. It is not necessary for a company to use the same depreciation method for financial statements and for determining income taxes. 6. The units of production depreciation method matches expenses against revenue the best. 7. Once the useful life of a depreciable asset has been estimated and the amount to be depreciated each year has been determined, the amounts can not be changed. 8. Residual value is not relevant when calculating double-declining-balance depreciation. 9. The double declining balance depreciation method calculates depreciation each year by taking twice the straight line rate times the book value of the asset at the beginning of each year. 10. Since gains are not recognized in the exchange of similar assets, the cost basis of the new asset is equal to the book value of the old asset plus boot.

Do you understand why I am so proud of the peoples in Sri Lanka? In a matter of a few weeks with minimal foreign assistance we have taken people who were camped in tents and driven from one end of the island to the other by a terrorist organization and have them in structured housing http://www.lankaenews.com/English/news.php?id=7868 The ratio of men and women is very similar and children are being schooled, persons are receiving job training, former LTTE are going through programs to reintegrate into society, residual LTTE elements are being traced, families are being reunited. http://www.dailynews.lk/2009/06/16/news36.asp I am pleased to hear that South Korea is so happy with their development model but Sri Lanka's development model is different and I do not believe that it will take 60 years for us to reach a 20K median income. South Korea as every sovereign nation has its own limits but they differ greatly with those of Sri Lanka. I truly enjoy the warm and gracious hospitality of your peoples from both the north and south when I have visited and find that your security forces are very well behaved and maintained. But we are not interested in becoming a little Japan though Japan also has its own charms but admittedly South Korea and North Korea would have been on a much quicker economic development trajectory if not for Japan. We are not so interested in back ending a stream when we are the gateway to the Orient. A few world wars does not change the history of our countries and we always look forward to occasional visits from our distant neighbors but our tropical perspective and cultural ties predicate much of what our growth and development streams are, have been and will continue to be. We will never a large chemical manufacturor for we are more environmentally concerned, we chose when and who develops hospitality on our island for we try to limit those things that conflict with the great and vast spiritual nature of our island. Ship building is not a stream that we need to proceed with in the short term for their are other matters that take precedence and we are well on the way to IT development, We are much more focused on clean industry such as assembly rather than dirty industries such as manufacture. We believe in saving our carbon credits and can possibly offer some for sale as that would be much more along the lines of our future view than creating large carbon expenditures. We would never erode the monuments of our culture and civilization as we have a preservationist mentality. http://www.dailynews.lk/2009/06/16/news36.asp CHECK DRAFTS NOW GATES/RAJA Rudukumar should understand that at the end of the year means at the end of 365 days of no violence, no lies and conjecture in the media, no economic terrorism, no fraud, no drug dealing, no arms running, no Selveraj Pathamathan. That year does not begin until the Tamil diaspora SINCERELY apologizes for 30+ years of terror and havoc wreaked on Sri Lanka through diaspora and foreign elements. It also means turning in for prosecution ALL parties that have been conducting such either at home or abroad. The Tamil diaspora is nowhere near step one. I suggest that these terrorists find another country to accomodate them because the Tamils that were born and live in Sri Lanka are Sri Lankans first and foremost. The most that you can attempt is to speak for 800,000 people who collectively terrorised every community including their own at home and abroad. That is not much to stand for so I suggest that you revise your LTTE leanings and give up KP, Castro et al. You are the discriminators not us CHECK DRAFTS NOW GATES/RAJA