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What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively, for the year ended December 31, 2007?
The department actually completed 10,000 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting.
Direct labor rate variance-unfavorable $8,100 Assuming that there was no inventory of work in process at either the beginning or the end of the period, the standard direct labor cost per hour is (ro
Prepare the journal entries to record the pension expense and the company's funding of the pension plan for both years.
Provide journal entries to record issuance of the two sets of rights. Justify values used.
Assuming the lease qualifies as a capital lease, what amount would be recorded as leased equipment under capital leases on January 1, 2010?
What is the amount of current portion of the lease liability Smith should report on the December 31, 2007, balance sheet?
Machine A: The cash price of this machine was $52,000. Related expenditures included: sales tax $4,000, shipping costs $190, insurance during shipping $90, installation and testing costs $50, and $1
Prepare a partial statement of profit and loss for each year, starting with pre-tax accounting income.
Finns Seafood restaurant has been approached by New England Investments, which wants to hold an employee recognition dinner next month. Lillian Sumner,
They incurred no warranty costs in 2008 but in 2009 they spent $125,000 on repairs related to the warranties from 2008 and 2009. Please show steps. The warranty liability as at the year-end 2008 was
Be sure to calculate expenses levied against the operation as a whole, including major deductions from operating income like General and Administrative; Marketing; Energy; and overall Repairs and Ma
Give the journal entry that Bright recorded for the receipt of assets and issuance of common stock to Pale.
What are some pros and cons of the kitchen-sink reporting model? What are some pros and cons of the minimalist reporting model? Explain and give examples for both.
Boulder City Hospital has just been informed that a private donor is willing to contribute $20,000 per year at the beginning of each year for 15 years. What is the current dollar value of this contr
What amount should be recognized as research and development expense in 2011 using IFRS?
Norton's outstanding stock consists of (a) 59,000 shares of cumulative 9.00% preferred stock with a $10 par value and (b) 147,500 shares of common stock with a $1 par value. During its first four ye
Which of the following lease arrangements would most likely be accounted for as an operating lease?
Carleton Service Center just purchased an automobile hoist for $14,558.The hoist has a 5-year life and an estimated salvage value of $1,276. Installation costs were $2,855, and freight charges were
Shantel owned and lived in a home for five years before marrying Daron. Shantel and Daron lived in the home for two years before selling it at a $700,000 gain. Shantel was the sole owner of the resi
Answer the following independent questions and show computations using the contribution margin technique to support the answer.
total fixed costs for excelsior corporation are 600,000. Total costs, both fixed and variable, are 750,000 if 125,000 units are produced . what would be the fixed costs per unit at 300,000 units ?
Corporation Lex is a calendar year, S corporation. This year Lex reported ordindary loss of $182,500. Aurora and Beth were each 50% shareholders as of January 1. Beth held her stock for 185 days bef
On July 31, 20X8, Tern Co. amended its single employee defined benefit pension plan by granting increased benefits for services provided prior to 20X8. This prior service cost will be reflected in t
Determine the amount of additional financing needed and pro forma financial statements (that is, balance sheet, income statement, and selected financial ratios) for 2009 under each of the following