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Manufacturing overhead is assigned to departments on the basis of 210% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments.
(a) What is the significance of the date of record and the date of distribution? (b) Why might Weibold have declared a 3-for-2 for stock split?
The value of an original painting, held as an asset, increased in value by 100 percent from 1970 to 2010. Suppose during the same period average prices in the economy rose by 150 percent. The owner
Nelson Collins decided to retire to canada in 10 years. what amount should nelson deposit so that he will be able to withdraw 80,000 at the end of each year for 25 years after he retires? Assume nel
The Bottle Division sells its containers to outside companies for $3.00 each. Assuming all of the containers produced by the bottle Division can be sold to outside companies, which of the following
The company's discount rate is 16%, and the machine will be depreciated using the straight-line method. Given these data, the machine has a net present value of:
Paul Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows:The
Templeton Extended Care Facilities , Inc is considering the acquistion of a chain of cemeteried for $420 million. Since the primary assest of this business is real estate. The current owner have no
If the accounts receivable balance at December 31 was $300,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2011?
A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could sta
Its total fixed costs are $8,000,000, but 25 percent of this value is represented by depreciation. Its contribution margin (price minus variable cost) for each unit is $24. How many units does the f
Both the interest and principal of the loan were paid on December 31, 2010. The publishing firm's tax rate is 30 percent. Prepare an income statement for Stein Books.
What are the advantages and disadvantages of the euro program and how has this euro program been going? If some European countries have much stronger economies than other European countries, how can
The Cosmo Company was started by issuing 800 shares of $10 par value stock at an average market price of $20 per share. The company repurchased 100 shares at a market price of $15 per share. The com
Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:
Dubois Inc. wishes to accumulate $1,300,000 by December 31, 2020, to retire bonds outstanding. The company deposits $200,000 on December 31, 2010, which will earn interest at 10% compounded quarterl
Your client is a self-employed real estate agent who is considering the purchase of a $60,000 luxury vehicle to be used 80% for business and a $4,000 computer to be used 100% for business located in
How does the recognition of ordinary income change for the individual and the corporation if the property is donated to a charity instead of sold?
Kiln Corporation issues 20,000 of its $10 par common stock with a fair value of $25 per share for the net assets of Williams Incorporated.
Prepare a value analysis for the acquisition and record the acquisition. Prepare a pro forma income statement for the combined firm for 2011. Show supporting calculations for consolidated income. Ig
The original lawsuit filed in the HP case claimed that the executives breached their fiduciary responsibilities. What are the fiduciary responsibilities of executives and members of the board of dir
Food services are used by employees in the human resources dept. Would a share of food service costs be allocated to human resources under the direct method of allocation?
Which of the following inventory costing methods will always result in the same values for ending inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is u
Barb has asked your advice on designing internal controls for Top Notch T-Shirt Printing.
Twin-Cities, Inc., purchased a building for $400,000. Straight-line depreciation was used for each of the first two years using the following assumptions: 25-year estimated useful life, with a resi