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The JKL Restaurant had sales revenues and food costs in 2005 of$800,000 and $600,000 respectively. In 2006 JKL will be introducing a new menu item that will generate $100,000 in sales revenues and $
On July 1 of the current year, the unrestricted partnership interest (fair market value of $25,000) was transferred to Susan. How should Susan treat the receipt of the partnership interest in the cu
The board of directors declares and pays a $150,000 dividend in 2011. What is the amount of dividends received by the common stockholders in 2011?
the average cost per unit is $0.83, of which $0.12 is fixed costs. If AZ were to accept BV's offer, what would be the increase in AZ's operating profits?
Income from operations for Division Z is $150,000, total service department charges are $400,000 and operating expenses are $2,266,000. What are the revenues for Division Z?
You write one IBM July 120 call contract for a premium of $4. You hold the option until the expiration date when IBM stock sells for $121 per share. You will realize a ______ on the investment.
20x4, $30,000; 20x5, $0; 20x6, $65,000; 20x7, $30,000; 20x8, $15,000. what was the amount of dividends received by the common stockholders during 20x7 ?
Determine the market price and related interest expense of an $800,000, ten-year, 10% (pays interest semiannually) bond issue sold to yield an effective rate of 12%.
Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. The seller paid transportation costs of $1,000 and issued a credit memorandum for $2,000 pr
on september 1 2010 valdez company reacquired 12,000 shsares of its $10 par value common stock for $15 per sahre. valdez uses the cost method to account for treasury stock. Prepare the journal entry
Snow removal cost formula for its operating cost is 1240 per month plus 348 per snow day. For the month of Dec, the company planned for activity of 12 snow days, but the actual level of activity was
Identify the key responsibilities associated with the professional roles these individuals occupied. Briefly describe the type and extent of interaction each of these individuals likely had with F&a
The standards for one unit of Titactium specify six kilograms of materials at $0.30 per kilogram. Actual production in November was 3,100 units of Titactium. There was a favourable materials price v
Jaclyn is going to the company's primary bank to negotiate a line of credit and wants to show the maximum amount of income without actually changing last year's results. What costing method of inven
Last year Javer Company had a net income of $200,000, income tax expense of $74,000, and interest expense of $20,000. what the company's times interest earned was closest to:
What rate of return would you expect on a 4-year Treasury security? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average.
Granger Company had $180,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000. what the company's average
Suppose the real risk-free rate is 3.00%, the average expected future inflation rate is 2.60%, and a maturity risk premium of 0.10% per year to maturity applies, i.e., MRP = 0.10%(t), where t is the
Frantic Company had $130,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000. what the company's accounts
Suppose the real risk-free rate is 2.50% and the future rate of inflation is expected to be constant at 3.80%. What rate of return would you expect on a 5-year Treasury security, assuming the pure
Kern Company purchased bonds with a face amount of $400,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three month
For 2010, Stoneland Corporation reported net income, $24,000; net sales, $400,000; and average shares outstanding, 6,000. There were no preferred stock dividends. What was the 2010 earnings per shar
If variable cost of goods sold totaled $80,000 for the year (16,000 units at $5 each) and the planned variable cost of goods sold totaled $84,000 (15,000 units at $5.60 each), what the effect of th
Interest on the bond is payable semiannual on December 31 and June 30. The fiscal year of the company is the calendar year.
What amounts should be included in Farr's income statement for the quarter ended March 31, 2010?