Home » Accounting fundamentals | Management homework help

Accounting fundamentals | Management homework help

Complete the following 4 questions from the text, each question worth 25 points. Submit as an attachment, using the attached Answer Sheet.

Question 1

Chapter 1; Question 1 (page 26 of your text)

     Rubric:  Each line “a” through “j” is worth 1/2 a point.

Match the Branch of Accounting that would be best used to answer the following questions:

      Question     Branch of Accounting

a.     How should I record transactions associated with cash, payroll, and short-term debt?     

b.     How much does it cost to pay for maintenance for my swimming pool this year?     

c.     What occupancy tax is owed by the hotel this month?     

d.     How should I record transactions associated with revenue, expenses, and profit?     

e.     How much sales tax should we have collected this month?     

f.     Are all food purchases made this month documented with legitimate invoices?     

g.     If I wanted to achieve a profit of $10,000 in the month of April, how many pizzas will I need to sell?     

h.     Are all bonuses paid to managers supported by documented revenue performance measures?     

i.     What were the total costs of salaries and wages incurred by the restaurant this month?     

j.     Would it be more profitable if I made my potato salad by scratch or purchased it pre-prepared?     

A.  Auditing

B.  Tax Accounting

C.  Cost Accounting

D.  Managerial Accounting

E.  Financial Accounting

Question 2

Chapter 1; Question 2 (page 27 of your text)

     Rubric:  Table worth 2 points, each question “a” through “c” worth 1 point each.

Read the question in your text, then complete the following table: and answer the subsequent questions:

Week     Revenue     Expenses     Profit / Loss

1      $   956.34      $1,258.75     

2      $2,286.45      $1,687.54     

3      $2,678.91      $2,563.87     

4      $1,875.23      $1,378.95     



a.    In which week did Richard have the most profit?

b.    Did Richard show a profit for all four weeks? If not, which week(s) did he experience a loss?

c.    As the owner, Richard wanted a profit of $1,000 for the month. Did he reach his goal?

Question 3

Chapter 2; Question 1 (page 57 of your text):


     Table filled out correctly = 5 points

     Table filled out, but amounts filled into the wrong boxes = 3 points

     Table filled out incorrectly, and incorrect amounts in the boxes = 0 points

Read the scenario in question 1, pg 57 of your text, then complete the following Accounting Formulas.

a. The restaurant started with a $1,200,000 check from its owner.

Assets =     Liabilities +     Owners’ Equity     Revenue –     Expenses


b. The restaurant generated revenues of $5,000 on accounts receivable.

Assets =     Liabilities +     Owners’ Equity     Revenue –     Expenses


c. The restaurant purchased a $400,000 building with $40,000 cash and a $360,000 mortgage.

Assets =     Liabilities +     Owners’ Equity     Revenue –     Expenses


d. The restaurant paid $550 cash for the utilities bill.

Assets =     Liabilities +     Owners’ Equity     Revenue –     Expenses


Question 4

Chapter 2; Question 4 (page 59 of your text):

     Rubric:  Table worth 2 points, each question “a” through “f” worth 1/2 point each.

Read question 4 on page 59, then complete the following table and answer the subsequent questions:

      Lisa’s Accrual Accounting     Laura’s Cash Accounting




Cost of Food Sold           

Salaries and Wages           






Net Profit or (Loss)           


a. Which accounting method, Lisa’s accrual accounting or Laura’s cash accounting, shows a higher net profit?


b. Which accounting method shows the most accurate amount of money on hand to pay bills?


c. Which accounting method most accurately shows the revenues generated regardless of when they were received?


d. Which accounting method most accurately shows the expenses incurred regardless of when they were paid?


e. Which accounting method most accurately shows actual cash inflows and outflows?


f. Which accounting method shows the most accurate reflection of their restaurant’s true profitability?

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more