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Cost of goods sold for the year was $450,000. What was Alliance's receivables turnover ratio (rounded) for 2011?
Record the entries and the required adjusting entries based on the above information.
calculate the employers payroll tax expense if 1. this is the first year and the employee has no cumulative earning for the year to date.
What would operating income be if 20,000 units of A, 80,000 units of B, and 100,000 units of C were sold? What is the new breakeven point in units if these relationships persist in the next period?
kold services corporation estimates that its 2012 taxable income will be $500,000. Thus, it is subject to a flat 34% income tax rate and inurs a $170,000 liability. for each of the following indepen
Determine the required sales in dollars to meet the target net income during 2011.
The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. what would be the cost of goods sold adjusted to a cash basis ?
A parcel of land is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as being worth $140,000, and is purchased for $137,000. The land should be
Festus' voting common shares were selling for $6.50 per share. Festus' balances on the acquisition date, just prior to acquisition, are listed below. Chester is accounting for the investment in Fest
What amount of the acquired earnings and profits deficit of $30,000 can be used to offset Shipyard's current earnings and profits for 2011?
During the second year, Xtreme Sports paid cash dividends of $30,000. How should this dividend be distributed between common and preferred stockholders
the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. what is the net present value of the proposed project ?
Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs:
Jamison owns a cabin in Mammoth and travels there for maintenance three times a year. The round trip to Mammoth from San Diego where Jamison lives, is approximately 450 miles. How much travel costs
What is the amount of the sales support costs that should be allocated to customer A assuming Beta uses activity-based costing (ABC)?
Cruise Division of Harold's Company's operating results include: controllable margin, $200,000; sales $2,200,000; and operating assets, $800,000. The Cruise Division's current ROI is 25%, the minimu
Joe Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inventory items, and authorizing the payment for these items. Which inter
Vern owns farm acreage he inherited two years ago. There are no buildings or improvements to the land. He decides to perform an exchange and acquire two rental houses:
On August 31, 2007, Dan Brown sold his land to Trident Inc. for $800,000. Dan has bought the land thirty years ago for $61,598. The terms of the sales contract call for a 20% down payment, a monthly
A company purchases a piece of land for $100,000 on January 1, 2011 and chooses to report the land using the revaluation method allowed under IFRS. Valuations of the land at December 31st over the n
Nate is a real estate salesman. His employer, a real estate developer, permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price i
Provide an analysis of the accounting for each fixed asset item using US GAAP and IFRS. Assume the Company uses straight-line depreciation for all its fixed assets and takes a full year of depreciat
Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. The land and buildings have fair values of $45,000 and $455,000. Required: Prepare journal entries t