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durring 2009, Tempo inc has monthly cash expenses of $120000. on dec 31 2009 their cash balance is 1860000. what is the ration of cash to monthly cash expenses ?
net income of $28,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share?
On july 2, 2010 Redford issued a 10% stock dividend on its common stock, and paid a cash dividend of $2.00 per share on its preferred stock. Net income for the year ended December 31, 2010 was $780,
The following materials standards have been established for a particular product:What is the materials quantity variance for the month?
Albert tranfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the
The market price of the common stock was $31 per share at the date of the grant. G Corp. used the Binomial pricing model and estimated the fair value of each of the options at $10. What amount shoul
Motormart Company manufactures automobiles. The Red Car Division sells its red cars for $25,000 each to the general public. The red cars have manufacturing costs of $12,500 each for variable and $5,
Which of the following statements is correct regarding the taxation of C corporation?
Teeter prepares financial statements quarterly and recognizes subscription revenue earned at the end of the quarter. The company has a December 31 year-end. Prepare the adjusting entry at March 31,
An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $150,000; Building, $480,000; Equipment, $120,000. Based on this informa
Prepare in good form a multiple-step income statement for the year 2011. Assume a 30% tax rate and that 100,000 shares of common stock were outstanding during the year.
Vincent Corporation has 73,000 shares of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 3% stock dividend to be issued July 30 to stockholders of record July 15. The
Should the rules be rewritten so that Coca-Cola must consolidate CCE rather than use the equity method? If so, at what level of ownership would the equity method no longer be appropriate?
When completing a bank reconciliation statement, what do you do with outstanding checks?
Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January 1, 2005. He financed the project using his personal funds. What is the amount of the low
Calculate the investment income and the ending balance in the investment account on the balance sheet for ABC Company on December using the cost method.
Perfect stampers makes and sells aftermarket hub caps. The variable cost for each hub cap is 4.75 and the hub cab sells for 9.95. Perfect stampers has fixed costs per month of 2.750,00 compute the c
LLC placed in service equipment with a basis of $950,000. Had sufficient income to avoid any limitation. Caculate the maximum depreciation expense including section 179 expensing for the year.
A non profit company sells a pair of shoe that has a cost of $2.00 for the price of $102.00. The gross profit is 100%. The tax libility is 37%. What is the formula to reduce the tax liability to 0%
Williams Company's direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, the direct labor cos
Interest computed on the average accumulated expenditures for the warehouse construction was $50,000. What amount of interest should Liddy expense for the year?
Prepare, in good form, the cash flows from operating activities section of the statement of cash flows.
when the Federal rate was 8%. Arnold did not repay the loan during the year and used the money for living expenses. Calculate Arnold & acircs adjusted gross income for the year.
Merchandise with a list price of 4700 is purchased on account terms FOB shipping point 1/10, n/30. the seller prepaid freight costs of $100. prior to payment $1400 of the merchandise is returned. Th
The project'scost of capital is 10%, the firm will use straight-line depreciation to $5,000 over five years, and the relevant tax rate is 40%. Compute the NPV from replacing the old machine.