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in a period of rising costs the first in first out fifo method results in lower cost of goods sold and higher gross
mills inc sold 120000 cases of glue at 20 per case during 2014 its beginning inventory consisted of 20000 cases at a
last year flynn company reported a net income of 70000 when sales totaled 520000 and the contribution margin ratio was
you are a recently-hired accountant at greenwood company a small corporation that does a seasonal business of selling
from your reading and research this week you will learn that estate taxes are complex and require a lot of skill to
several years ago abc bought def company def was a supplier of merchandise for abc and one of the primary reasons for
on june 30 year 1 abc co purchased for cash at 20 per share all 300000 shares of the outstanding common stock of def co
abc owns 100 of the outstanding shares of def co on january 1 year one abc transfers a building to def for its fair
during the current year abc corporation sold inventory costing 80000 to def for 100000 abc owns 80 percent of the
1 chrisrsquo expected pre-tax bonus is 20000 chris earns a base salary of 30000 chris files as a single taxpayer with
assume that you have the following cash flows at the following times 0 -100 1 0 2 100 3 200 what is the annual
what is the future value at year 8 of a 3000 inflow at time zero instantly and a 1000 outflow 6 years from now and a
your machine operator is becoming more productive and generates additional profit each year you expect to receive 20000
what is the present value of an investment which compounds annually at 10 and starts at 10000year and decreases by 8
assume that you want to make annual deposits in order to save 2million in 30 years and you can achieve a 10 annual
hanson company is constructing a building construction began on february 1 and was completed on december 31
kellyrsquos marginal tax rate is 33 and discount rate is 12 what is kellyrsquos present value after-tax cost if she
kimrsquos expected cash payment to a seller is 500000 and her marginal tax rate is 40 kim will receive tax savings from
components of internal control the chapter identified five components of internal control listed below are specific
in september direct labor was 40 of conversion cost if the manufacturing overhead for the month was 66000 and the
learning objective 5 estimate ending inventory by the gross profit method federal technology began the year with
learning objective 4 compute ratio data to evaluate operations cola company made sales of 35376 million during 2012
jeff johns is a staff accountant and has been assigned to the audit of worldwide enterprises inc subsequent to the
use the internet to research at least two 2 companies that have accelerated the month-end closing process or have