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GHH, Inc. has two classes of stock authorized: $100,000 par preferred and $1.00 par value common. As the begining of 20C, 200 shares of preffered stock and 300,000 shares of common stock have been i
A company had a profit margin of 8%. If net income equaled $56,000 and average total assets equaled $337,500, how much were net sales?
Erlander Company uses a job order cost accounting system. On November 1 2013, $15,000 of direct materials and $3,500 of indirect materials were requisitioned for production.
A company's income statement showed the following: net income, $130,300; depreciation expense, $31,500, and gain on sale of plant assets, $14,750.
Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to record the total factory payroll, the indirect payroll and the direct payroll. You
The 2012 annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $230,000 in 2012. It also declared and paid dividends on common stock i
A company must repay the bank $42,000 cash in five years for a loan. The loan agreement specifies 7% interest compounded annually. The present value factor for five years at 7% is 0.7130.
When computing the net present value of the project, what are the annual after-tax cash receipts? A. $39,000 B. $13,650 C. $54,600 D. $23,400.
Thurman Munster, the owner of Adams Family RVs, is considering the addition of a service center his lot. The building and equipment are estimated to cost $1,200,000, and both the building.
Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains twelve quarts of synthetic oil.
Boyne Inc. had beginning inventory of $15,600 at cost and $26,000 at retail. Net purchases were $156,000 at cost and $221,000 at retail. Net markups were $13,000.
On January 1, 20X5, P Company purchased in the open market $71,250 of the $75,000 par value, 8%, ten-year bonds of S Company for $68,941.50. The bonds were sold on January 1, 20X1, with interest pa
The characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts is called?
If you were to get a physical from your doctor and he or she only took your blood pressure prior to stating that you are in good health, would you be concerned?
Performance Castings Inc. casts blades for turbine engines. Within the Casting Dept alloy is the first melted in a crucible, then poured into molds to produce teh castings.
Assume a corporation has earnings before depreciation and taxes of $117,000 depreciation of $45,000 and is in a 35 percent tax bracket.
Fixed overhead costs per month are: Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per
Ixxx, Inc. is going to produce and sell the 120 Four laptop cooler. It consists of four 120 mm case fans, which can move up to 316 cubic feet of air per minute (cfm).
Colliers, Inc., has 100,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $2 per share but because of cash flow problems.
Eichelberger Trucking won a settlement in a lawsuit and was offered four different payment alternatives by the defendant's insurance company. The interest rate is 8%.
Roberts Company sold equipment for $320,000, purchased a building for $6,850,000, sold short-term investments for $350,000, repaid principal on a note payable for $2,650,000 plus $300,000.
The following information applies to Water Springs, which supplies landscaping waterfalls. Water Springs purchases the waterfalls from a manufacturer which has a reputation for very high quality in
Scarecrow Co. purchased land and a building for 1,500,000. The appraised value of the land is 650,000 and the appraised value of the building is 975,000. The amount that will be debited to the Build
Use a financial calculator to compute the present value of rental receipts if the receipts are $5,000 at the end of the period for the next 10 years and the discount rate is 8%.
Justin Beiber wants to save enough money to make a down payment on a new home. He decided to put $10,000 into a savings account at the end of each of the next ten years.