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What is the largest variable cost per carton that can be paid and still achieve a profit of $1million.
Tampa Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2009. Cost incurred for 2-009 are as follows:233000= manufacturing costs, 122850=variable selling and
Management has also received an offer to purchase the division for $335 million. All identifiable assets' and liabilities' book and fair value amounts are the same.
Book value method to record the conversion of $9 million of bonds into common stock with a $10 par value if conversion occurred when the market price of the common was $24 per share, and total conve
Compute Marie's taxable income for 2008, assuming she is single and claims two dependent children. Her adjusted gross income is $70,000 and she has itemized deductions of $9,000.
Pension data for Goldman Company included the following for the current calendar year:Determine pension expense for the year.
Prepare the journal entry needed at July 1, 2011 to record interest and premium or discount amortization.
Moon Inc assigns $1,500,000 of its accounts receivables as collateral for a $1 million loan with a bank. The bank assesses a 3% finance fee and charges interest on the note at 6%. What would be the
Carolina Mills purchased $270,000 in supplies this year. The supplies account increased by $10,000 during the year to an ending balance of $66,000. What was supplies expense for Carolina Mills durin
Sun Inc assigns $2,000,000 of its accounts receivables as collateral for a $1 million 8% loan with a bank. Sun Inc. also pays a finance fee of 1% on the transaction upfront. What would be recorded a
A company, using the periodic inventory system, has merchandise inventory costing $175 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At year-end,
Assuming the market interest rate is 10% per annum, how much would Green Co. record as a note payable if the terms of the loan with a bank are that if would have to make one $60,000 payment in two y
If the estimate of uncollectibles is made by taking 10% of gross account receivables, what is the amount of the adjustment ?
Buttercup company 12% bonds, par $50,000, dated March 1, 2010, purchased at par plus accrued interest, interest payable annyally on March 1, due March 1 2030 was 52,000. Prepare the entry to accrue
If the estimate of uncollectibles is made by taking 2% of net sales, what the amount of the adjustment is ?
As the controller of the railroad, George has asked you to advise him as to the disadvantages associated with leasing generally. List and explain three advantages to leasing for a lessee
Ceder Products is a division of a major corporation. Last year the division had total sales of $21,520,000 net operating income of $538,000 and average operating of $8,000,000. The company's minimum
An aging of accounts receivable indicated that $62,500 of the December 31 receivables are expected to be uncollectible.what is the net realizable value of accounts receivable after adjustment ?
Bart transfers land used in his business (held as an investment for 3 years) worth $165,000 (basis of $100,000) and performs managerial services worth $15,000, in return for 30 shares in AB Corp.
If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad deb
A bond issued with a face value of $200,000 and a carrying amount of $195,500 is paid off at 98 1/2 and retired. The gain or loss on this transaction is:
If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year?
If the company purchases the equipment in less than 2 years, the original sales price will be reduced by 10%. How much will the company owe on the equiqment if they buy it after 15 months?
Kaniper Company has the following items at year-end:what Keniper should report cash and cash equivalents of ?
Kennison Company has cash in bank of $10,000, restricted cash in a separate account of $3,000, and a bank overdraft in an account at another bank of $1,000. what Kennison should report cash of ?