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What is the divisions sales margin, capital turnover and Return on Investment (ROI)?
Interest revenue of $2,000 was earned during July, but had not been included in the budget. Prepare a performance report for July and explain Neptune's operating income variance.
Western Outfitters Mountain Sports projected 2008 sales of 75,000 unit sale price of $12.00. Actual 2008 sales were 72,000 units at $14.00 per unit. Actual variable costs, budgeted at $4.00 per unit
Wright Company expects cash sales for July of $12,000, and a 20% monthly increase during August and September. Credit sales of $4,000 in July should be followed by 10% decreases during August and Se
Highlight and contrast the following for Public (state-owned) Universities and Private Not for Profit Universities
Vikkie was the only accountant for a small-town land development company. She was terminated when the company fell on hard times. One year later, when the owner of the company was reviewing the paym
Using the concept of incremental analysis, expand on Nick's response of "Why do you want to know?" What cost information would be relevant to a decision to drop the product that would not be relevan
Please prepare an analysis of whether he should rent or buy, considering his cash flow and tax consequences at a federal marginal rate of 25% and a state tax rate of 6% using an Excel spread sheet.
Sassy Company sells its widgets for $20 each. Its variable cost is $12 per widget. Fixed costs are $150,000 per month for volumes up to 70,000 widgets. Above 70,000 widgets, monthly fixed costs are
Soundgarden Company collected $9,100 in May of 2012 for 5 months of service which would take place from October of 2012 through February of 2013. The revenue reported from this transaction during 20
On November 7, 2011, Ortez Company borrows $150,000 cash by signing a 90-day, 8% note payable with a face value of $150,000. (1) Compute the accrued interest payable on December 31, 2011.
Del's Diner anticipated that 84,000 process hours would be worked during an upcoming accounting period when, in fact, 90,000 hours were actually worked. One of the company's overhead cost formula is
At the purchase date, Shawn had common stock of $500,000 and retained earnings of $185,000. Patrick attributed the excess of acquisition-date-fair value over Shawn's book value to a trade name with
The sailboat does not qualify as a residence. What is the maximum amount of debt on which the Ryans can deduct home equity interest?
Assuming that the equipment had been sold on Jan 2, 2008, for $100,000 instead of $95,000, journalize the entry to record the sale.
A method of estimating bad debts expense that involves a detailed examination of outstanding accounts and their length of time past due is the:
If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost would be allocated to the Wall Mirrors?
1. Harriet was born on November 18, 1957 (56 yrs) and hired as a full-time employee hourly employee of MMC on December 1, 1988 (31yrs). She transferred to full-time salaried status on June 1, 1990.
Using the web, access The Coca-Cola Company's 2010 financial statements (www.thecoca-colacompany.com). Identify and discuss the following aspects of consolidated tax expense disclosed in the financi
During 2010, Belotti loaded and sold 8000 tons,but estimated at December 31,2010 that 12000 tons remained. What is depletion for 2010?
If downtown division continues to use the space uptown will have to rent other space for $180 per sq ft. per month. (The difference in rental prices occurs because uptown division requires a more s
Prepare the entry record any adjustments necessary due to the income tax rate increase on January 27, 2011.
In 2012, Sweetwater's excess net passive income is $42,000. Sweetwater holds $31,000 of accumulated earnings and profits from a C corporation year. It reports $58,000 of taxable income and AMT adjus
1. What does it mean when we say that financial accounting and tax accounting are separate?
Wilshire Corporation acquired 500, $1,000, 8% bonds at 96 plus accrued interest. The bonds were dated April 1, 2013, and mature on March 31, 2018, with interest paid each September 30 and March 31.