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Research two publicly traded US companies, and download their financial statements. Assume you are the CEO of a major corporation. You are responsible for expanding the corporation through the acqui
Jake purchased a $205,000 crane for his construction business. He sold the crane for $150,000 after taking $115,000 of depreciation. Assume Jake is in the 33% tax rate bracket. a. On what form would
Direct labor hours used on each product are 50,000 for P1, 40,000 for Q2, and 110,000 for R3. How much ordering and receiving overhead is assigned to each product?
The Sip & Dip Donut company is considering the acquisition of a new automatic donut dropper for $600,000. The machine will have a six-year life and will produce before tax cash savings of $200,0
Co. X uses the net present value method to evaluate capital expenditures. Which of the following two machines has the higher net present value?
Harris Company's sales revenue for 2005 was $300,000. Harris has one product that sells for $25 and has variable costs of $18. Fixed costs total $155,000. How many units must Harris sell to break ev
Jones is an employee of Super Automobiles dealing with automobiles. In January 2013 he entered into a futures contract with a futures broker (a member of a recognised futures exchange) and closed th
If the fair value of Aguirre bonds is $372,726 on December 31, 2011, prepare the necessary adjustingentry. (Assume the securities fair value adjustment balance on January 1, 2011, is a debit of $3,3
So test the accuracy of the Accounts receivable balance at the end of the first year of operations for the Cuadra Corp, using what ever is useful from the following information.
1. Are estimated uncollectibles increasing or decreasing as percentage of revenues? 2. What is meant by provision for uncollectibles? Why is this reported in the notes?
Last month when Holiday Creations Inc sold 50,000 units, total sales were 200,000, total variable expenses were 120,000 and fixed were 65,000. what is companies contibution margin ratio?
Benet Division of United Refinery Company's operating results include: controllable margin, $200,000; sales $2,200,000; and operating assets, $800,000. The Benet Division's ROI is 25%. Management is
1. Compute the equivalent units for May's activity for the first department. 2. Determine the costs per equivalent unit for May.
Ahmad owns four activities. He participated for 120 hours in Activity A, 150 hours in Activity B, 140 hours in Activity C, and 100 hours in Activity D. Which of the following statements is correct?
On May 31, the ending work in process contained 40,000 units that were 25 percent complete. Using the average cost method, the equivalent units of the Assembly Department are ??
Rex and Dena are married and have two children, Michelle (age 7) and Nancy (age 5). During 2012, Rex earned a salary of $24,000, received interest income of $300, and filed a joint income tax return
Assuming a Pennsylvania corporate tax rate of 8.25 percent, what is Ashton's Pennsylvania state tax liability?
John sold the Parcel two years later to Ann, a person not related to CCorp, Bob, Ann, or John, for $60,000. How much gain or loss is realized and recognized as a result of these three transfers?
How much gain or loss did XYZ Corp. recognize as a result of this transaction and what is XYZ Corp.'s basis in the real property?
On the date of the cash distribution, Jean's basis in her Fun Inc. stock was $10,000 and Jon's basis in his Fun Inc. stock was $30,000. What is Jon's adjusted basis in his EFG Inc. stock after the
In January 1, 2010, Novotna Company purchased $400,000,8% bonds of Aguirre Co. for $369,114. The bonds were purchased to yield 10% interest. Interest is payablesemiannually on July 1 and January 1.
Assume that SMTO Inc.'s current earnings and profits were $200,000, there were no accumulated earnings and profits, and Lana's total basis in her stock before the redemption was $20,000. How much is
WESTO Inc.'s earnings and profits must be increased by $40,000 , the amount of the unrecognized gain, and decreased by $40,000 (the adjusted basis of the land), and increased by $55,000 (the amount
NOCO Inc. had current earnings and profits of $150,000 when it made a nonliquidating distribution to an individual shareholder of land that NOCO Inc. held for use in its business.