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Pharma inc issued 800,000 of 7.5%, 15- year bonds dated april 1, 2011 on april 1, 2011, at 97.5. Pharma inc uses the straight line method of amorization, the entry to retire the bonds on the maturi
A company charges the following amounts of overhead to jobs during the current year: $12,000 to jobs still in process, $42,000 to jobs completed but not sold, and $66,000 to jobs fininished and sold
Beonce Company received proceeds of $188,500 on 10-year, 8% bonds issued on January 1, 2011. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31, and have a
Manufacturing overhead is applies to production on the basis of stand direct labor hrs. During the year, the company worked 37,000 hrs and manufactured 9500 units of product.
You are considering a new product launch. The project will cost $950,000 and have a four year life with no salvage value. Assets for the project are depreciated straight line down to zero.
For each company state whether the company would have a favorable or unfavorable volume variance and why.
A proposed new investment has projected sales of $825,000. Variable costs are 55% of sales and fixed costs are $187,150 per year. Depreciation is $91,000 and the corporate tax rate is 35% what is th
The financial statements for a company included the following information: Common Stock $1,750,000 Retained Earnings $950,000 Net Income $1,250,000 Shares Issues 110,000 Shares Outstanding 90,000
During its fiscal year, Morey Corporation had outstanding 600,000 shares of $6.50 preferred stock and 2,000,000 shares of common stock. Morey's net income for the year was $19,550,000.
A friend has $4,800 that has been saved from her part-time job. She will need her money, plus any interest earned on it, in six months and has asked for your help in deciding whether to put the mone
From a taxable income perspective, is it better to be an employee or an independent contractor? Why? How is the determination between what constitutes an employee and an independent contractor made
Randall Sports has collected the following information over the last six months. Month Units produced Total costs March 10,000 $25,600 April 12,000 26,200 May 18,000 27,600 June 13,000 26,450 July 1
What is the market value of a bond that will pay a total of fifty semiannual coupons of rs.80 each over the remainder of its life?assume the bond has a rs.1000 face value and a 12% yield to maturit
Michael Vick has written a self improvement book that has the following cost characteristics: Selling Price $16.00 per book Variable cost per unit: Production $4.00 Selling & administrative 2.00
Peeler Company was incorporated as a new business on January 1, 2010. The corporate charter approved on that date authorized the issuance of 1,000 shares of $100 par, 7% cumulative.
National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $500,000 on January 1, 2013. The bonds mature on December 31, 2016 (4 years).
An analysis of past maintenance costs indicates that maintenance cost is an average of $0.20 per machine-hour at an activity level of 10,000 machine-hours and $0.25.
Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $12,000 (original cost of $28,000 less accumulated depreciation of $16,000) and a fair value of $9,000. K
Activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified?
Molly Hamilton deposited $50,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate (APY) to the nearest hundredth percent?
Randy.com is a direct marketer of popular music. Following is information about its revenue and cost structure: Selling Price $15.00 per CD Variable Costs: Production (manufacturing costs) $3.00 per
Interfund Premiums Actuarial estimates from previous fiscal year to determine $ necessary to establish a reserve for losses. It was determined that General Fund and water utility should be assessed
Mercedes Brow starts a merchandising business on December 1 and enters into three inventory purchases: December 7 10 units @ $ 9 cost December 14 20 units
Milton Co. is expanding its operations and is in the process of selecting a method of financing this program. After some investigation, the company determines.