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Fenestre Corporation's contribution margin ratio is 25%. The company's break-even is 80,000 units and the selling price of its only product is $4.00 a unit. What are the company's fixed expenses?
Mike Finley wishes to become a millionaire. His money market fund has a balance of $92,296 and has a guaranteed interest rate of 10%. How many years must Mike leave that balance in the fund in order
Conversations with manufacturing personnel revealed that the ending work in process was 80% complete. a. Determine the number of units in the Aug 31 WIP inventory
If the partnership sells the property contributed by Desmond for $360,000, how is the tax gain allocated between the two partners?"
Collected $35,000 from it 2005 credit customer. A customer owing $2,500 declared bankruptcy and cannot pay.
Which of the following actions should managers take when there is evidence that a fixed-rate contract is over budget and will generate a loss for the firm?
oods costing $2,000 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18 a $200 credit memo is received from the supplier for damaged goods. Give the journal entry on July
Total meals and entertainment expenses 3,000 Excess of book(GAAP) depreciation over MACRS(tax) depreciation 2,000 Excess of MACRS deprec. over ADS (E&P) depreciation 1,500 charitable contributio
Excess of capital losses over capital gains 5,000 Retained earnings at beginning of year 675,000 Cash dividends paid 90,000 Provide a schedule M-2 for James Corp.
Lisa's president 400,000 Premiums paid on policy on life of Lisa's president 12,000 Excess of capital losses over capital gains 5,000 Retained earnings at beginning of year 675,000 Cash dividends pa
Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of 11,750 and four exemptions. Assuming an adjusted gross income of 40,000, what is their taxable income for
Sold stock in a nonpublic company with a book value of $4,000 and accepted a $5,000 non-interest-bearing note with a discount rate of 9%. The $5,000 payment is due on February 28, 2012. The stock ha
Suppose the rate of return on a 10-year T-bond is 6.85%, the expected average rate of inflation over the next 10 years is 2.0%, the MRP on a 10-year T-bond is 0.9%, no MRP is required on a TIPS, and
The bonds are convertible at any time to maturity into 120 ordinary shares for each $100 of bond. Alternatively the bonds will be redeemed at par after 3 years.
Which pair of accounts follows the rules of debit and credit in relation to increases and decreases in the same manner?
Assume Dexter factors the $800,000 of accounts receivable with Quick Finance on a with recourse basis instead. The recourse provision has a fair value of $14,000. Prepare the journal entry required
In March 2005, General Electric (GE) had a book value of equity of 113 billion, 10.6 billion shares outstanding, and a market price of $36 per share.
1. Why do you think Toyota is expanding so aggressively outside of Japan instead of focusing more on manufacturing in Japan and exporting to other countries?
A company increased the selling price for its product from $5 tp $6 per unit when total fixed expenses increased fro$100,000 to $200,000 and variable exense per unite remained unchanged. How would t
Describe the 4 types of adjusting entries, and provide a manufacturing industry example of each.
Assume the company's monthly target profit is $11,000. The unit sales to attain that target profit is closest to:
a supplies inventory shows $750 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31,
The company had revenues of $4,500 and expenses of $2,000. The company's Land account had a $5,000 balance. Dividends amounted to $300. There was $1,000 of common stock issued. What accounts are per
Determine the corrected amounts for 2010 cost of goods sold and December 31, 2010, retained earnings.
The common stock of Connor, Inc., is selling for $16 a share and has a dividend yield of 3.5 percent. what is the dividend amount?