Archive for April, 2011
Accounting for Project?
I am working on a project that requires some very general tools, which will, in the future, be used for many many other projects and miscellaneous tasks. How do I assign these costs for these tools? 100% to this project or estimate how much the equipment will depreciate due to this project and cost it out that way, or use maybe activity costing… let me know what you think.
So, Ernest, you’re saying, and I would agree, that it would be rather imprudent to allocate 100% of an indirect cost (in this case, a tool) to a project if that tool was going to be used for many other projects and things.
The more I think of it, the more it becomes clear. If we allocated 100% to this project, then the next project would have to be 50% and the first project would need to be retro-actively changed to 50% and so on. In our business and personal lives, we cannot wait around 10 years to find out the true cost of a project, we have to make assumptions on activity level and the reasonable amount of an indirect cost that we can allocate to a project based on machine hours or direct labor, etc. If we did allocate 100% and based prices off of that cost number, then the prices would be ridiculously high for the first few projects and we wouldn’t sell anything. You must assume a reasonable allocation rate for indirect costs or you will go out of business. Right??
How does an LLC account for a fundraising project as income?
If an LLC launches a brick paver project/campaign to raise money, do they account for the income at the end of the year? Selling engraved brick pavers to raise capital is necessary for an LLC.
I’m doing my accounting project, and this I cannot figure out?
The note payable relating to the June 2, and 10 transactions is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year.
[IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $124,000. On June 10, eight days later, $23,750 was repaid. Interest expense must be
calculated on the $124,000 for eight days. In addition, interest expense on the $100,250 balance of the loan ($124,000 less $23,750 = $100,250) must be calculated for the 20 days remaining in the month of June.]
Galantas Gold Corp – Final Results
Galantas Gold Corp – Final Results
Galantas Gold Corp – Final Results
Read more on AFX CNF Finance Regulatory News via Yahoo! UK & Ireland Finance
Two wolves attack and kill a dog
Two wolves attack and kill a dog
Two wolves attacked a dog that was being walked by a woman and her child in Norrtälje. The dog was killed. The woman and child were unharmed.
Read more on The Local
anyone good at accounting. my project is almost done!!!?
The fixed assets have estimated useful lives as follows:
Building – 31.5 years
Computer Equipment – 5.0 years
Office Equipment – 7.0 years
Use the straight-line method of depreciation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building’s scrap value is $7,500. The office equipment has a scrap value of $350. The computer equipment has no scrap value. Calculate the depreciation for one month.
How to put songs from project playlist on ipod?
My friend tried to explain to me how to do it. But i couldnt find the file, save as button.I thinks its because i have windows vista. Is there anybody who can give me step by step directions on how to gets songs from my project playlist account onto to my ipod? thanks!
Please Help final accounting project due in 2 hrs!?
I have to record this transaction:
sold 6 swift snowmobiles and six batteries to the Colfax snow Katts for $50,094 plus sales tax (sales tax is usally .07) The club presented a certified check as payment in full for their new equipment.
Merchandise listed on the sales invoice:
swift enduro qnt: 5 net cost per unit: 5940
swift arrow qnt: 1 net cost per unit 9,900
battery qnt: 6 net cost per until 49.50
This is what i tried but when i try it the computer tells me “insufficient units on hand on inventory item row one”
Cash 53600.58
Snowmobile sales 54094
tax sales paybale 3506.58
Phivolcs director Dr. Renato U. Solidum, Jr.: Ain’t no earthquake strong enough
Phivolcs director Dr. Renato U. Solidum, Jr.: Ain’t no earthquake strong enough
MANILA, Philippines – The recent seismic activities that literally shook the world – including the devastating earthquake in New Zealand and the tsunami in Japan – have been keeping everyone on their toes.This is especially true for Filipinos, considering that part of the Philippines lies on the so-called Pacific Ring of Fire. No wonder that the Philippine Institute of Volcanology and Seismology …
Read more on Manila Bulletin via Yahoo! Philippines News