Car title lenders are considered to be predatory lenders, since they charge high rates of interest to those individuals who can least afford it. Various laws in recent years have attempted to curb the high interest rates and these practices. Car title lenders still operate and some would argue that they fill a need in […]
Continue readingWould the cost of the football field constructed on Bristol Motor Speedway for the UT vs VT game be capitalized or expensed?
September 13, 2016 
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On September 10, 2016, a football game was played on Bristol Motor Speedway. The game was the University of Tennessee (UT) versus Virginia Tech (VT.) Bristol Motor Speedway hosts NASCAR races. About ten years ago, a plan began to come together to host the UT vs. VT game at the track, since it is located […]
Continue readingWhat steps are in the value chain for pumpkins grown and sold by Beckwith Orchards?
September 8, 2016 0 Comments
Beckwith Orchards is a family owned and operated farm and store that has been in the Beckwith family since 1878. It grows and sells a wide variety of produce, including apples, peaches, pears, gourds, and pumpkins. Each year, it plants a variety of pumpkins. In addition to the common orange oval pumpkin used to carve […]
Continue readingHow will Toro account for its two-for-one stock split?
September 6, 2016 0 Comments
The Toro Company (TTC) is a manufacturer of lawn care products such as lawn mowers and irrigation systems. Toro’s brands include Toro, Lawn Genie, and Lawn-Boy. Toro’s fiscal year end is October 31. As of October 31, 2015, Toro had authorized 175,000,000 shares of common stock. As of this same date, it had 54,650,916 shares […]
Continue readingWhat information can be calculated from Facebook’s trial balance?
September 1, 2016 2 Comments
Facebook, Inc., is a publicly held corporation and issued its financial statements for 2015 earlier in 2016. To follow is a condensed and adapted trial balance as of December 31, 2015, that was constructed from those financial statements. Please note that the accounts have been adapted and condensed for educational use and should not be […]
Continue readingWould the costs related to Cedar Point’s Valravn roller coaster be expensed or capitalized?
August 30, 2016 0 Comments
Cedar Point is an amusement park in Ohio and has 18 roller coasters. In 2016, Cedar Point added the Valravn roller coaster. Valravn has a height of 223 feet and a top speed of 75 miles per hour. It has a 4-second pause at the top of its first hill and then it plunges down […]
Continue readingIs a favorable raisin quantity variance good for Kellogg’s Raisin Bran?
August 25, 2016 0 Comments
Kellogg’s Raisin Bran is famous for its advertising slogan of “Two scoops of raisins in every box.” The current box design for Raisin Bran shows two scoops of raisins on the front of the box. A few months ago, a post went viral on Reddit that showed a picture of the raisins actually found in […]
Continue readingWhat information is provided in Facebook’s basic financial statements?
August 23, 2016 0 Comments
Facebook, Inc., is a publicly held corporation and is frequently in the news. For example, in August 2016, it announced a new feature called “Lifestage,” which is an iOS app that emulates Snapchat and is designed to be used by teens. Also in that same month, Mark Zuckerberg sold $95 million of his Facebook shares. […]
Continue readingTechnology tip: How to keep the original formatting when copying a slide into a PowerPoint file
August 18, 2016 0 Comments
At the annual American Accounting Association conference last week, one of my co-presenters had our original PowerPoint file on her computer. I had a slide that I wanted her to insert into that main PowerPoint file we were going to use to present. When she inserted my slide, my slide lost its formatting to take […]
Continue readingHow many snow cones need to be sold for a Snowie™ snow cone cart to break even?
August 16, 2016 0 Comments
Snowie™ is a brand of flavored shaved ice that is sold in snow cones at a variety of events and locations across the United States. Recently, a Snowie™ cart was spotted at the Kent Heritage Festival this summer. During this festival, street vendors offer a variety of foods and drinks. At the Snowie™ cart, festival […]
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Accounting in the Headlines 