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In computing the amount realized, ifthe fair market value of the property received cannot bedetermined, the fair market value of the property surrendered maybe used.
A company purchase equipment for $500,000 cash on July 1, 2006. The estimated life is 5 years or 1,000,000 units; salvage value is estimated at $50,000. Actual activity was 180,000 units in 2004, a
Indicate whether each of the following would be added to ordeducted from net income in determining net cash flow from operating activities by the indirect method:
Mortonson Corporation factored, w/ recourse, $300,000 of A/R with Huskie Financing. The finance charge is 3% and 5% was retained to cover sales discounts, sales returns, and sales allowances.
If you are a rationaldecision maker and want to maximize the average/expected long-termprofit, how many ski lifts do you want to have at the resort?Explain in simple non-technical English. Show your
Evaluate Paul Pecos' decision rule. Evaluate Paul Pecos' reaction to Ms. Goodperson's sale. Prepare a contribution margin income statement for the month with two columns: in the first column, show t
Recorded the redemption of the bonds, which were called at 102. The balance in the bond premium account is $883,275 after the payment of interest and amortization of premium have been recorded. (Rec
Let's say that you are themanager of a restaurant chain (choose your favorite,Applebee's, Outback, McDonalds, you name it). Yourregional director comes to you showing the following variances foryour
After determining the control environment of aclient company, the auditors found that the controls are operating effectively. However, auditors do have to test the design and implementation strategi
If company has distributable profit of Rs. 400,000, Profitsharing share ratio of Mr. A, Mr. B and Mr. C is 2:3:5respectively. What will be the share of profit for Mr. A indistributable profit?
When would you advise a firm to use direct intervention to set transfer prices? What are the disadvantages of such a practice?
Can you provide a real world example taken form any reputed organization or at government level, in which a long termstrategic plan was formulated? assessed
In year 4 the company's variable costing net operating income was $240.200 and its absorption costing net income was $267,200 did the inventory increase or decrease during yr 4 and how much Fixed m
Reginald was the tenant in a rental house. The landlord sold the house and paid Reginald $4,000 to cancel the lease and move out eight months before the lease was scheduled to expire. What issues d
Layout dicions are the important aspect of the design of the production system. please briefly describe produce and process layoyt with examples and also list some reasons for designing layouts.
M/S XYZ started a business of expensive jewelry and invested in this business by borrowing funds of Rs. 4.5 million @ 7 % p.a for the period of three years from a local bank.
To make it worthwhile in terms of my time it would require a $7,200profit for the first 6 months of the venture. What level of salesin units and dollars would be required to attain this target neto
Revez owns an antique shop. He buys property from estates, often at much less than the retail value of the property. Recently, Revez sold for $4,000 an antique clock for which he had paid $1,250. Re
Prepare an income statement, statement of changes instockholder equity, period-end balance sheet, and statement of cashflows for the 2002 accoutning period.
Your CPA firm is preparing the tax return of a new client who says he has had numerous transactions involving the sale of depreciable business property in prior years.
Homer Simpson bought a house for $70,000 some years ago. Heput 20% down and financed the rest with a 25 year mortgage of 8.5%interest. Home has made 168 payments on the house.
At August 31 Jones Company has this bank information: cashbalance per bank $6,950; outstanding checks $762; deposits intransit $1,700; and a bank service charge $20. Determine theadjusted cash bala
In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect you
What are some advantages to preparing budgets? What are some things that management might want to take into consideration when preparing a budget?
Each coffee table produced by Robert West Designers nets the firm a profit of$15. Each bookcase yields a $12 profit. West's firm is smalland its resources limited.