Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Golden Flights, Inc., is considering buying some specialized machinery that would enable the company to obtain a six-year government contract for the design and engineering of a futuristic plane. The machinery costs $975,000 and must be destroyed forsecurity reasons at the end of the six-year contract period. The estimated annual operating results of the project are as follows:
Revenue from sales under thecontract..............................
$975,000
Expenses other thandepreciation....................................
$560,000
Depreciation (straight-linebasis)....................................
162,500
(722,500)
Increase in net income from governmentcontract..................................................................
$252,500
All revenue from the contract and all expenses (exceptdepreciation) will be received or paid in cash in the same period as recognized for accounting purposes. You are to compute the following three factors for this project:
(a) Payback period: __________ years
(b) Return on average investment: __________%
(c) Net present value of the investment in this machinery, discounted at an annual rate of 12% (an annuity table shows that the present value of $1 received annually for six years discounted at 12% is 4.111): $__________
Olmsted Company has the following items: common stock, $720,000; treasury stock, $85,000; deferred taxes, $100,000 and retained earnings, $363,000. What total amount should Olmsted Company report as stockholders' equity?
The Production Division has no alternative use for the facilities used to manufacture the stuffing. What is SCC's the monthly operating income advantage (disadvantage) if the goods are purchased internally?
What is the purpose of GAAP and management accounting? There is a very important distinction that we need to keep in mind when discussing accounting because... they are not the same
A company has net sales of $410,000 and average accounts receivable of $82,000. What is its accounts receivable turnover for the period?
Journalize the following transactions for the seller, Mitchell Company, using the gross method to account for sales discounts. Assume a perpetual inventory system. Make sure to enter the day for each separate transaction.
Riley Company authorized a $1,000,000, 10-year, 6% bond issue dated July 1, 2009, with annual interest to be paid each December 31. On July 1, 2009, the bonds were issued for $886,500. Riley Company has a December 31 year-end.
What were the limitations of the audit proceedures regarding management assertion of existence in the zzz best case?
Mathew Murphy, single, sold his home that he had owned for 20 years for $670,000. He purchased it for $110,000 and made $40,000 of capital improvements on the home during his time of ownership. a) How much gain is excluded? How much is recognized?
On December 31, 2007, Drew Company issued $170,000, five-year bonds for $155,000. The stated rate of interest was 6 percent and interest is paid annually on December 31. What would be the necessary journal entry?
Assume no taxes, and a stable exchange rate of $.60 per NZ$ over the next two years. All cash flows are remitted to the parent. What is the break-even salvage value?
discuss the differences between substantive law procedural law criminal law civil law common law and statutory law.
smith steakhouse is a restaurant catering to a variety of customers. they purchased a new high-power oven at a cost of
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd