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If the units are purchased from the supplier, $200,000 of fixed costs will continue to be incurred. In addition, the plant can be rented out for $20,000 per year if the parts are purchased externall
Determine the inventory turnover for Apple and American Greetings. Round to one decimal place.
If the target profit is $60,000 for a volume of 480 units, fixed costs are $168,000, and the variable cost per unit is $450, then what the markup percentage on variable cost would be ?
What price will the company charge if the firm uses cost-plus pricing based on absorption cost and a markup percentage of 120%?
The bonds yield 10.00% . Venezuela paid $50,000 in bond issue costs related to the bond sale. Prepare a bond amortization schedule up to and including January 1, 2015, using the effect
On January 2, 2014, the Blues Sisters Studios leased six computers for use in the engineering department. The lease period is for 13 years and the estimated economic life of the leased property is 1
a corporation issues $400,000, 8%,5yr bonds on January 1, 2012, for $416,800. Interest is paid annually on January 1. If the corporation uses the straight-line methond of amortization of bond premiu
Prepare the journal entries to record these transactions in (a) Black's records and (b) Hayes' records. Assume use of the perpetual inventory system for both companies.
At each calendar year-end, Rivka Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2011,
Selling and administrative expenses consist of $350,000 in annual fixed expenses and $2.25 per unit in variable selling and administrative expenses.
Tramor Company reports the following cost data for its single product. The company regularly sells 20,000 units of it product at a price of $80 per unit. If Tramor doubles its production to 40,000 u
Assume that the 2012 errors were not corrected and that no errors occurred in 2011. By what amount will 2012 income before income taxes be overstated or understated?
Speedy Parcel Service operates a fleet of delivery trucks in a large metropolitan area. A careful study by the company's cost analyst has determined
Determine his gross pay for that week if the company uses the one-half average rate method. Round your answers to two decimal places.
after computing all tax preferences and AMT adjustments adam and his wife cindy have AMTI of 290,000 if adam and cindy file a joint tax return what exemption amount can they claim for AMT for 2011
Bienvenu later discovered that its ending inventories at December 31, 2011 and 2012, were overstated by $110,000 and $35,000, respectively. Determine the corrected amounts for 2012 cost of goods sol
cal reported the following itemized deductions on his 2011 tax return his AGI for 2011 was 85,000 the mortgage interest is all qualified mortgage interest to purchase his personal residence for AMT
Red Lion, is an S corporation with a sizable amount of AEP from a C corporation year. The S corporation has $400000 of investment income and $400000 of investment expense in 2011. The company makes
The electing corporation distributes $5000 of cash to each of the shareholders during the tax year. Calculate the shareholders' stock bases at the end of the year.
The building was subjected to a mortgage of $75,000 which Jo assumed. Her basis in the stock she surrendered was $10,000. 1. What is the amount of the gain she must recognize?
Prepare any necessary adjusting journal entries in Contemporary Designs accounting records as of December 31.
SPC has a fully piece of equipment that is currently fully depreciated on its books. This equipment is no longer used and SPC wants to get rid of it. The cost of the equipment is $10,000. The compan
Create a 12 month cash flow budget in Excel using the following assumptions: • Initial sales of $5 million, with fore-casted monthly growth of 1%
Swanson Corporation issued $8,200,000 of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year,
Because Palmiero must enter a competitive bidding at the end of 2020, it is unlikely that the franchise will be retained beyond 2020. What amount should be amortized for the year ended Decembe