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Yahoo! reported the following in its 2008 financial statements (in thousands):What is Yahoo's common-size product development expense for 2008?
What is the purpose of having both a partner-in-charge and a consulting partner on each audit engagement? should the partners be rotated among thier clients periodically? why or why not?
Williams Electric Corp sells $50,000 of bonds to private investors. The bonds have an 8% coupon rate and interest is paid semi-annually. The bonds were sold to yield 9%. What periodic interest
The cost of operating the cutting department two more hours each day is $1,600. The contribution margin of the finished products is $6 each. Inventory carrying costs are $0.40 per unit per day.
Pinick Corp. owns 90% of the outstanding common stock of Shell Company. On December 31, 2011, Shell sold equipment to Pinick for an amount greater than the equipment's book value but less than its o
If a company follows a practice of isolating variances at the earliest point in time, what would be the appropriate time to isolate and recognize a direct material price variance?
If group auditors make no reference to component auditors whose work they have relied on as a part of the basis for their report, the group auditors:
Establishing an accounting policy regarding the minimum dollar amount of purchase that will be considered for capitalization.
What was the annual amount of depreciation for the years 2005, 2006, and 2007, using the straight-line method of depriciation
The 2008 financial statements of BNSF Railway Company report total revenues of $17,787 million, accounts receivable of $873 million for 2008 and $805 million for 2007. what is the company's accounts
The income tax footnote to the financial statements of Life Technologies Company for the year ended December 31, 2008, includes the following information (in thousands). How much of the income tax e
CarMax Inc. reports sales of $6,973,966 and cost of sales of $6,005,796 for the year ended February 28, 2009. what is the gross profit for the year ?
At the end of the year, the market value of Berlin's investment is $3.7 million. What is the year-end balance of the equity investment in Best Pictures?
During 2007, Dole Company sold equipment with a book value of $90,000 for proceeds of $104,000. The company purchased new equipment for $240,000 by signing a long-term note payable. No other transac
Mayberry Gas Corp. sells $200,000 of bonds to private investors. The bonds are due in five years, have an 8% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 6%. What pr
Fulton Company's price-earnings ratio is 8.0 and the market price of a share of common stock is $32. The company has 3,000 shares of preferred stock outstanding with each share receiving a dividend
In its 2010 income statement, what amount should James report as total infrequent losses that are not considered extraordinary
Assume that Quinn Jewelry Co. uses the LIFO inventory costing method for both tax and financial reporting purposes. The balance sheet reports inventories of $102 million.
Mayberry Gas Corp. sells $200,000 of bonds to private investors. The bonds are due in five years, have an 6% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 8%. What pr
Sandy had the following items on her timely filed 2010 income tax return: Gross receipts $400,000 Cost of Goods sold ($300,000) Capital gain $20,000 Capital loss ($30,000)What is the statute of limi
Central Supply purchased a new printer for $60,000. The printer is expected to operate for eight (8) years, after which it will be sold for salvage value (estimated to be $6,000). How much is the fi
Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $68,000 and the total of the credits to the a
1st Nebraska Bancorporation and Unity Trust Company merge on January 1, 2010. Before the merger transaction, the balance sheets of the two companies are as follows: (in millions)
Danoff Corporation has provided data concerning the company's Manufacturing Overhead account for the month of October. Prior to the closing of the overapplied or underapplied balance to Cost of Good
Compute the accrued interest as of December 31, 2008 on each of the following notes payable. Assume 365 days