Degree of operating leverage based problem
Holt Company's variable expenses are 70 % of sales. At a $260,000 sales level, the degree of operating leverage is 10. If sales increase by $65,000, the degree of operating leverage will be:
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On March 15, 2009, Ryan Company purchased $10,000 of merchandise on credit subject to terms, 2/10, n/30. Ryan records its purchases using the gross amount. The periodic inventory system is used. If Ryan pays for these goods on March 30, the entry
On April 1, 2009, Kolbe purchased a car that cost $35,000 which had an estimated residual value of $5,000 and an estimated useful life of five years. To the nearest dollar, what is the amount of depreciation that should be recorded on the car for
On December 31, 2006, Roberts Company sold $100,000, ten-year, 8% bonds at 104.5. The bonds were dated January 1, 2006, and interest is payable each December 31. The company uses the straight-line amortization method. The company should report the
On March 31, 2009, Bundy Corporation retires $10 million of bonds when they have unamortized premium of $500,000 by repurchasing them in the market at 98 ½. Calculate the gain or loss on the retirement of the bonds.
$25,000 was paid for excavation for the basement of the new building. $2,100,000 was paid for construction of the new building, and $95,000 was paid for a parking lot and necessary walkways and driveways.
A machine is purchased by making payments of $5,000 at the beginning of each of the next five years. The interest rate was 10%. The future value of an ordinary annuity of 1 for five periods is 6.10510. The present value of an ordinary annuity of 1
Why would Ray, Doak's controller, want to defer revenue but accrue expenses and is this ethical?
A company requires $1,700,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $300,000. What is the target net income?
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