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On August 1, a student signed a lease for an apartment for a period of three years. Under the lease agreement, a security deposit of $500 is required with the deposit to be returned at the expiratio
What is the lowest transfer price that would not reduce the profits of the Post Division? (Round your intermediate calculations and final answer to 2 decimal places.)
On January 1, 2009, Pink Company finished consultation services and accepted in exchange a promissory note with a face value of $400,000, a due date of December 31, 2012, and a stated rate of 8%, wi
After several collections attempts, Leslie's wrote off $3,100 of accounts that could not be collected Leslie's estimates that bad debt expense will be 0.5 percent of sales on account.
Accounts officers at Xerox corporation discovered that significant errors have been made in the valuation of inventory and are worried that it might have significant impact on the net income and ear
Ann and Bob form Robin Corp. Ann transfers property worth $420,000(basis of 150,000) for 70 shares in Robin Corp. Bob receives 30 shares for property worth $165,000(basis of $30,000) and for legal s
On December 31, 2004, International Refining Company purchased machinery having a cash selling price of $85,933.75. The company paid $10,000 down and agreed to finance the remainder by making four e
Fleet Inc. is an athletic footware company that began operations on January 1, 2012. The following transactions relate to debt investments acquired by fleet Inc which has a fiscal year ending decemb
Fleet, Inc. manufactured 700 units of Product A, a new product, in 2001. Product A's variable and fixed manufacturing costs per unit were $6.00 and $2.00.
Wenner Furnace Corp. purchased machinery for $421,290 on May 1, 2012. It is estimated that it will have a useful life of 10 years, salvage value of $22,650, production of 362,400 units.
The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer's payroll taxes for the factory payroll are $8,000.
Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost with an expected four-year life.
Business has been brisk during its first three years of operations, and since going public in 2000, the market value of its stock has tripled. The first sign of trouble came in 2013 when the new sal
On January 1, 2003, Buster Corporation issued 100 bonds with a par value of $ 1,000 each. The stated interest rate on the bond is 10% payable annually on December 31 of each year. The market rate
The $3,600 of property taxes for the house were prorated with $1,950 being apportioned to the seller and $1,650 being apportioned to the buyer. In December of the current year the buyer paid $3,600.
Claremont Division has the capacity to make 3,000 units of an intermediate good that is sold both internally and on the open market for a price of $28 each.
Eagle Company is considering the purchase of an asset for $100,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year. Compute the payback per
Veronica Tanner, the president of Tanner Enterprises is considering two investment opportunities. Because of limited resources, she will be able to invest in only one of them.
Salt Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $220,000, but it will also increase annual expenses by $160,000.
In contrast, the company chief accountant, believes that the funds should be used to purchased large trucks to deliver the package between the depots in the two cities.
If an asset costs $240,000 and is expected to have a $40,000 salvage value at the end of its ten-year life, and generates annual net cash inflows of $40,000 each year, what is the cash payback peri
Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years. Preferred shares are cumulative and non-participating.
Le Sud Retailers has a current return on investment of 10% and the company has established an 8% minimum rate of return for the division. The division manager has two investment projects available,
Bitterman, Inc., manufactures gof clubs in three models. For the year, the Big Bart line has a net loss of $5,000 from sales $200,000, variablecost $175000, and fixed costs $30,000. If the Big Bar