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If total liabilities decreased by $15,000 and owner's equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
The balance per the bank statement was $8,050. The balance per their Cash account in their general ledger was $8,700. The following information was obtained:
The group product manager for ointments at American Therapeutic Corporations was reviewing price and promotion alternatives for two products.
Ethan competed in the annual Austin Marathon this year and won a $25,000 prize for fastest wheelchair entrant. Ethan indicated that he would transfer the prize to the local hospital. How much of the
Stanley Children's Hospital reported an average cost per discharge of $6,500 for the quarter, with 300 discharges and an average revenue of $5,900 per discharge. What was Stanley's Revenue to Cost p
Survivor Company was formed on January 1, 2009 by selling and issuing 25,000 shares of $12 par value common stock at $15 per share. On December 1, 2010, the company declared a cash dividend of $2.
Explain how accrual accounting differs from cash-basis accounting; adjust the accounts) An accountant made the following adjustments at December 31, the end of the accounting period:
What circumstances led to the passage of Sarbannes-Oxley? Do you think this act has been successful? Why or why not? Who is ultimately responsible for the accuracy of the financial statements? Is t
Hal Gore won a $1 million prize for special contributions to environmental research. This prize is awarded for public achievement, and Hal directed the awarding organization to transfer $400,000 of
The production manager of Rordan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year.
The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit.
Trevi Corporation recently reported an EBITDA of $31,975,600 million and $9,566,600 million of net income. The company has $6,787,600 million interest expense, and the corporate tax rate is 35 perce
On January 1, Helmut pays $2,000 for a 10% capital, profits and loss interest in a partnership, which has recourse liabilities of $20,000. T
Company ABC was formed on January 1, 2009 by selling and issuing 25,000 shares of $12 par value common stock at $15 per share. On December 1, 2010, the company declared a cash dividend of $2 per sha
Material, labor and overhead are used to calculate the standard cost. What are some actions a company can take to lower the standard cost?
Barry, Dan, and Edith together form a new corporation; Barry and Dan each contribute property in exchange for stock. Within 2 weeks after the formation, the corporation issues additional stock to Ed
in 2009, Werther Co. reported a current ratio of 3.75 and in 2008 it was 3.10. Which of the potential cause of a rise in this ratio?
The balance sheet of Werther Company showed the following data about its common stock, par $1: authorized shares, 10,000,000; oustsanding shares, 4,300,000; and issued shares 7,700,000. Therefore,
Gammell issued $50,000 bonds payable, 9% annual interest, maturity in ten years. The bonds were issued at $52,000. Gammell uses straight-line amortization. The amount of interest expense each full
Gammell, Inc. reported net income of $40,000 for 2009. The income tax return excluded an expense item of $3,000 (reported on the income statement) because under the tax laws the $3,000.
Prepare a completed Income Statement in proper format (showing both gross profit and income from operation calculations) for the year ending December 31, 2013. Please report the gross profit percent
How is gross profit computed? Why is it such an important measure of profitability? What is your company's , or one you are familiar with,most recent gross profit rate... how does it compare to the
Excel 2010 provides the capability to exchange data with other applications. Discuss the different types of ways to exchange data between Excel and other Microsoft applications. Are there limitation
Komiko Tanaka invests $12,000 in LymaBean Inc. LymaBean does not pay any dividends. Komiko projects that her investment will generate a 10 percent before-tax rate of return.
Ace Co. acquired 60% of Becker Corp. by paying $240,000 cash. There is no active trading market for Becker Corp. At the time of the acquisition, the book value of Becker's net assets was $300,000.