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Idol also requested a line of creditfor $300,000 from the bank. The bank agreed to grant the necessary line of credit at a rate of 3 percent over prime and required a 15 percent compensating balance
Assume that Corporation X has 20,000 shares of $10 par value cumulative 6% preferred stock and 5,000 shares of common stock outstanding. No dividends were paid in 2009 and 2010. In 2011, the board o
Consider how an organization must manage cash, receivables, and inventory. Which of the three variables is the most important to manage? Is one more susceptible to fraud and errors than the others?
The bonds were issued four years ago at par ($2,000,000), carry a 7% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. what are Diluted earnings
Offsetting these factors is the observation that the average commission per trade is likely to increase by 15 percent because trades are expected to be larger in the coming year. Estimate SVI's com
Smelly Perfume Company manufactures and distributes several different products. They currently use a plant-wide allocation method for allocating overhead at a rate of $7 per direct labor hour.
During the year, sales returns and allowances totaled $65,900. The cost of the merchandise returned was $40,000. The accountant recorded all the returns and allowances by debiting the sales account
The company has 2,800 units in its March 1 finished-goods inventory and anticipates having 2,400 completed units in inventory on March 31. On the basis of this information, how many units does Yorkl
As of June 1, beginning WIP is $3,000 and finished goods are $5,000. The company sold units costing $20,000 for $35,000 cash. If ending WIP is $18,000 and ending finished goods is $15,000, how much
Based on this information alone, the amount of total liabilities appearing on the December 31, 2009 balance sheet would be ??
Nicholas Teague is the CEO of a national chain of hairstyling salons. Teague seeks to lead his division mangers by creating opportunities for them to succeed and then removing barriers in order to r
explain how goodwill is tested for impairment for a reporting unit. 2) determine the amount, if any, of impairment loss to be recognized at december 31, 2008.
It allows the company to pay off the bond anytime after the first fifteen years, but requires that bondholders be compensated with an extra year's interest at the coupon rate if such a payoff is exe
A cash basis calendar year C corporation in Athens, Georgia, had $100,000 of accounts receivable on the date of its conversion to an S corporation on February 14. By the end of the year, $60,000 of
If the partnership sustained an operating loss of $90,000 in the current year, George's personal income tax return should include:
The company requires a minimum pretax return of 15% on all investment projects.what is the net present value of the proposed project ?
2,000,000 shares of capital stocks at $3 par value were issued the company issued half of the stock for cash at $8 per share, and earnded $90,000 during the first three months of operation, and decl
Company A issued 7% bonds on January 1, 2009, with a face amount of $530,000, the market yield for bonds of similar risk and maturity was 8%. The bonds mature December 31, 2012 (4 years). Interest i
In june 2009, joanne invested for a 20% interest in a limited liability company in which she is a material participant. The LLC reported losses of $340,000 in 2009 and $180,000 in 2010. Joanne's sh
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $740,000 in the common stock account and $5.2 million in the additional paid-in surplus account.
Prepare a one-page memorandum to your supervisor outlining your presentation to the marketing staff.
If the high-low method is used, what is the monthly total cost equation?
The company's effective tax rate on all items affecting comprehensive income is 30%. Each component of other comprehensive income is displayed net of tax.
The building had a 10-year remaining useful life and the equipment had a 5-year remaining useful life. How much amortization expense will be on the consolidated financial statements for the year end
Take the approach to the allocation of costs for manufacturing, sales and delivery costs, what your estimated income and earnings stove oven to year 1985?