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Kyle worked as a free-lance software engineer for the first three months of 2014. During that time, he earned $90,000 of self-employment income.
Reynolds Co. issued $72 million face amount of 10.75% bonds when market interest rates were 11.10% for bonds of similar risk and other characteristics.
Reed Pentak a finance major has been following globalization and made the following observation concerning accounting convergence. " I do not see many obstacles concerning development of a single ac
Sophia and Jacob are married and file a joint return. The return for 2012 included a Form 2106 for each of them. The return for 2013, however, included a Form 2106 and a Schedule C. In terms of empl
The Assembly Department produced 5,000 units of product during March. Each unit required 2.20 standard direct labor hours. There were 11,500 actual hours used in the Assembly Department during March
Forty semiannual payments of $9,780 each, with the first installment due upon delivery. Vendor B will perform all year-end maintenance for the next 20 years at no extra charge.
In the current year, Joe Green purchased XYZ Corporation's 10-year, 10% bonds at original issue for $12,000. The bonds had a stated redemption price of $15,000.
Pierce had no restrictions on the use of the advance rental payments and renders no services in connection with the rental income. What amount of gross income should Pierce report on its 2012 tax r
Your client, Keith Moreland Leasing Company, is preparing a contract to lease a machine to Souvenirs Corporation for a period of 27 years.
Diekow Productions manufactured and sold 1,000 products at $11,000 each during the past year. At the beginning of the year, production had been set at 1,200 products.
Kerry Company has 1,050 shares of $100 par value, 8% preferred stock and 9,500 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating.
Bieber Company has excess capacity on two machines, 24 hours on Machine 105 and 16 hours on Machine 107. To use this excess capacity, the company has two products.
Prepare a common-size income statement and balance sheet for Russell. The first column of each statement should present Russell's common-size statement, and the second column, the industry averages.
Baloney Company has offered to sell Janice Foeld 10,000 units of part Z for $30 per unit.If Janice Foeld accepts Baloney's offer, the released facilities can be used to save $45,000.
Compute the current break-even point in units, and compare it to the break-even point in units if Mary's ideas are used. (Round answers to 0 decimal places, e.g. 1,225.)
In 2012, Joan accepted and received a $10,000 award for outstanding civic achievement. Joan was selected without any action on her part, and no future services are expected of her as a condition of
The costs are assigned to two cost pools, one for fixed and one for variable costs. The costs are then assigned to the sales department and the administrative department. Fixed costs are assigned on
For software, this includes the salary of programmers, the cost of computers used by programmers, and the cost of software manuals sold to customers.
Browning realty CO. Pays weekly salaries of 9375 on Friday fro five-days workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that th
On January 1, 2013, Packard Corporation leased equipment to Hewlitt Company. The lease term is 9 years. The first payment of $456,000 was made on January 1, 2013.
Please define the word "bottleneck" as it relates to the theory of constraints. How can we solve problems created by bottlenecks? What steps are involved in solving problems dealing with the "theory
Shelton Corporation and Davis Corporation want to join forces as one corporation because their businesses are complementary. They would like the resulting corporation to have a new name.
Classic Attire is the designer and manufacturer of prom dresses. The president of Classic wants to switch to an activity-based approach in the upcoming year to assign prices to the gowns.
Flagg Industries reported the following data for the year just ended: sales revenue, $800,000; cost of goods manufactured, $700,000; cost of goods sold, $600,000; and selling and administrative exp
A company purchased $20,000 of merchandise. Transportation costs were an additional $240. The company returned $320 of the merchandise and then paid the invoice within the 2.0% discount period. What