question archive Types of Businesses Indicate whether each of the following companies are primarily a service, merchandise, or manufacturing business
Types of Businesses Indicate whether each of the following companies are primarily a service, merchandise, or manufacturing business
Subject:AccountingPrice: Bought3
Types of Businesses
Indicate whether each of the following companies are primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, use the Internet to locate the company's home page or use the finance Web site of Yahoo.
1. Alcoa Inc.
SelectservicemerchandisemanufacturingItem 1
2. Boeing
SelectservicemerchandisemanufacturingItem 2
3. Caterpillar
SelectservicemerchandisemanufacturingItem 3
4. Citigroup Inc.
SelectservicemerchandisemanufacturingItem 4
5. CVS
SelectservicemerchandisemanufacturingItem 5
6. Dow Chemical Company
SelectservicemerchandisemanufacturingItem 6
7. eBay Inc.
SelectservicemerchandisemanufacturingItem 7
8. FedEx
SelectservicemerchandisemanufacturingItem 8
9. Ford Motor Company
SelectservicemerchandisemanufacturingItem 9
10. Gap Inc.
SelectservicemerchandisemanufacturingItem 10
11. H&R Block
SelectservicemerchandisemanufacturingItem 11
12. Hilton Hospitality, Inc.
SelectservicemerchandisemanufacturingItem 12
13. Procter & Gamble
SelectservicemerchandisemanufacturingItem 13
14. SunTrust
SelectservicemerchandisemanufacturingItem 14
15. WalMart Stores, Inc.
SelectservicemerchandisemanufacturingItem 15
On May 19, McCade Repair Service extended an offer of $106,000 for land that had been priced for sale at $121,000. On June 4, McCade Repair Service accepted the seller's counteroffer of $115,000. On October 10, the land was assessed at a value of $173,000 for property tax purposes. On February 5 of the next year, McCade Repair Service was offered $184,000 for the land by a national retail chain.
At what value should the land be recorded in McCade Repair Service's records?
Accounting Equation
Jan Petri is the owner and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Our Idol has assets of $898,000 and liabilities of $216,000. Using the accounting equation, determine the following amounts:
a. Owner's equity as of December 31, 2013.$
b. Owner's equity as of December 31, 2014, assuming that assets increased by $171,000 and liabilities decreased by $52,000 during 2014.$
Accounting Equation
Determine the missing amount for each of the following:
Assets
=
Liabilities
+
Owner's Equity
a.
$
=
$177,320
+
$554,140
b.
$88,660
=
$
+
$27,710
c.
$42,670
=
$6,100
+
$
Asset, Liability, and Owner's Equity Items
Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner's equity:
a. Accounts payable
b. Cash
c. Fees earned
d. Land
e. Supplies
f. Wages expense
Accounting Equation
Todd Olson is the owner and operator of Alpha, a motivational consulting business. At the end of its accounting period, December 31, 2013, Alpha has assets of $826,850 andliabilities of $261,280. Using the accounting equation and considering each case independently, determine the following amounts.
a.
Todd Olson, capital, as of December 31, 2013.
$
b.
Todd Olson, capital, as of December 31, 2014, assuming that assets increased by $130,640 and liabilities increased by $78,550 during 2014.
$
c.
Todd Olson, capital, as of December 31, 2014, assuming that assets decreased by $65,320 and liabilities increased by $23,150 during 2014.
$
d.
Todd Olson, capital, as of December 31, 2014, assuming that assets increased by $109,140 and liabilities decreased by $41,340 during 2014.
$
e.
Net income (or net loss) during 2014, assuming that as of December 31, 2014, assets were $1,041,830, liabilities were $169,500, and there were no additional investments or withdrawals.
$
