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Sun estimates the fair value of the recourse liability at $100,000. What would be recorded as a gain (loss) on the transfer of receivables?
Calculate the payroll for the end of April. Include in your calculations federal withholding, social security (FICA), and Medicare taxes.
What is the amount of Casey's deduction assuming that he had purchased the stock for $10,000 on January 3, 2009, and the stock had a fair market value of $32,000 when he made the donation? Casey's A
A company has net sales on account of $1,750,000. Net accounts receivable at the beginning of the year are $147,000 and at the end of the year are $153,000. what is the days' sales in average receiv
Soldan Corporation purchased a computer on December 31,2011, paying 30,000 down and a further payment due on December 31,2014.An interest rate of 10% is implicit in the purchase price. Soldan uses t
if you have 2310 in interest, 1850 in dividends, and interest earned ratio is 2.2, what is the cash coverage ratio?
The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. what is the total controllable cost variance ?
Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 12/31/2011, Peterson would show an unearned revenue account for their gi
Early in 2010, Larsen Corporation purchased marketable securities at a cost of $90,000. In September, dividends of $6,600 were received; Larsen sold the securities in December at a gain of $5,600. H
what is the amount of Gillian's wages that should be charged to direct labor for the week ?
Everett, Miguel, and Ramona are partners, sharing income 1:2:3. After selling all of the assets for cash, dividing losses on realization, and paying liabilities, the balances in the capital accounts
The firm's required return (rs) is 12.0%. What is the best estimate of the current stock price?
In order to make the appropriate decision, the manager computed the annual interest rate associated with the sales discount. what is the annual rate ?
What would be the average fixed inspection cost per unit at an activity level of 6,600 units in a month? Assume that this level of activity is within the relevant range.
Jenson Company began the year with retained earnings of $250,000. During the year, the company recorded revenues of $350,000, expenses of $275,000, and paid dividends of $30,000. What was Jenson's r
Joe Donaldson deposited $80,000 in a bank account, purchased a company for $60,000 cash (Building $40,000 and Inventory $20,000), performed services for clients for $10,000 cash, purchased supplies
Cleveland Co. did not have to also give him the car, and did it just out of admiration for Barnie doing such a great job. Is this income to Barnie as compensation, or a nontaxable gift?
Managers at Mark's Markets are paid bonuses based on the firm's net income. This year the cost of inventory items have been consistently rising. What inventory cost flow method would the managers pr
What is the floor constraint on the value of this inventory, using the lower of cost or market rule?
Twenty units were sold on July 3 and 60 units were sold on July 17. What was the total cost of the units sold on July 17?
Matthew Corporation reported $9,000 of net income for 2008. The following errors were then discovered in the ending accounting balances: accrued expense was overstated by $2,000 unearned revenue was
Mark Manufacturing made the following errors in 2008: Ending inventory was understated by $2,000 Beginning inventory was overstated by $6,000 Purchases were understated by $2,000 Reported net income
Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2011. The expected useful life is 5 years and the asset is expected to have salvage value of $2,000. Moped depreciates its assets v
Monica leases a Ferrari $150,000 fair market value or sales price. She pays 5% interest, 6 periods, at the end of each period. What are her payments?
what is Nocera's balance in its deferred tax asset and deferred tax liability accounts at year end?