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Susan works in a real estate office that is equipped with up-to-date copiers, scanners, and printers. She is frequently the only employee working in the office in the evenings and often has spare ti
What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from cor
Compute the amount of under- or overapplied overhead at year-end, and prepare the necessary journal entry to record its disposition.
On May 31, 2014, Reber Company had a cash balance per books of $6,942.50. The bank statement from New York State Bank on that date showed a balance of $6,565.60.
Ahi Corporation is one of your clients in Hawaii. The company had a good year last year and owes the IRS $100,000,000, due on March 15.
Your company provides you with a car. You are told only to drive in Dade and Broward and only to use the car for business purposes. One weekend your family is going to the Keys.
Assume the same facts as for questions 1, 2, and 3. How much revenue should the city recognize in its government-wide statements for each of the three years? Explain.
Market-Probe a market research firm had the following transactions in june 2014, its first month of operations.Adjusting entrees must also be prepared for advertising and serves fees per information
Guay Corp a start up company provided services that were acceptable to its customers and billed those customers for $350,000 in 2012.
Vantage Company issued bonds with a $500,000 face value and a 6% stated rate of interest on January 1, 2013. The bonds carried a 5-year term and sold for 95.
What is the Material Price Variance? Favorable or unfavorable?What is the Material Usage Variance? Favorable or unfavorable? Show Work for each.
Flying High Company manufactures model airplanes. During the month, it manufactured 10,000 airplanes. Each one used an average of 6.5 direct labor hours and an average of 1.5 sheets of aluminum.
James, Inc. incurred the following infrequent losses during 2012: $140000 write-down of equipment leased to others. $80000 adjustment of accruals on long-term contracts. $120000 write-off of obsolet
Uma Company production has variable overhead costs of $8 per direct labor hour and fixed overhead costs of $56,000 per month. Budgeted production for the next three months is as follows:
Dole Company, with an applicable income tax rate of 30%, reported net income of $350,000. Included in income for the period was an extraordinary loss from flood damage of $50,000 before deducting th
TX500 requires 6 units of component A. (SR200 does not use component A.)There were 30,000 units of Component A in inventory on May 1. Kenner wants to have a 20% of the following month's production n
Arreaga Corp. has a tax rate of 40 percent and income before non-operating items of $232,000. It also has the following items (gross amounts).
Average daily sales The Chamberlain Corporation has an accounts receivable turnover equal to 12 times. If accounts receivable are equal to $90,000, what is the value for average daily credit sales?
What was the unrealized gain or loss on the school's investments (caused by changes in fair value) and the realized gain or loss (caused by sales of these investments)?
Du Pont system of analysis Using the Du Pont method, evaluate the effects of the following relationships for the Lollar Corporation. a. Lollar Corporation has a profit margin of 5 percent and its re
Du Pont system of analysis The King Card Company has a return-on-assets (investment) ratio of 12 percent. a. If the debt-to-total-assets ratio is 40 percent, what is the return on equity? b. If the
Given the persistent problem with starvation in some parts of the world, and the anticipated population growth in developing nations, do we need genetically modified foods?
Profitability ratios Alpha Industries had an asset turnover of 1.4 times per year. If the return on total assets (investment) was 8.4 percent, what was Alpha's profit margin?
Cars can now park themselves and within the next 10 years, research in the United Kingdom will lead to cars that drive themselves. What potential impact could this have on such things as licensing d