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Alpha Corp. has the following sales forecasts for the selected three-month period in the current year:Month SalesApril $10,000May 9,000June 11,000
Sixty percent of sales are collected in the month of the sale, and the remaining balance is collected in the following month.Accounts Receivable balance (April 1) $11,000Cash balance (April 1) 4,000
Minimum cash balance is $2,500. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges). Calculate the expected cash balance at the end of April, assuming that cash is received only from customers and that $15,000 is paid out during April?
Prepare a training program for new employees in the customer care call center.
On November 1, Prince Vacuum Company offered special early retirement benefits to those employees who were eligible. This program was in effect until year-end. Prince should recognize a liability and an expense related to these special termination..
Prepare a paper that discusses the significant elements of forming a partnership. Conduct research for the laws of Minnesota that regulate the formation of partnerships. What other types of business formations are allowed by Minnesota state law?
Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at ..
Assume the CFO of your organization approaches you to ask your advice about implementing the Balanced Scorecard at your organization.
Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Company.
Caroline and Clint are married, have no dependents, and file a joint return in 2005. Use the following selected data to calculate their Federal income tax liability. What is the AMTI? What is the regular income tax liability? What are the AMT tax ..
The tax rate is 30% and the FIFO method will result in income before taxes of $5,460. The LIFO method will result in income before taxes of $4,935. What is the difference in tax that would be paid between the two methods?
What was the interest rate used to value the lease? What is the annual lease payment? What was the present value of the lease obligation on January 1, Year 6?
Discuss the challenges related to comparing financial statement prepared in different accounting methods. For example, US GAAP and IFRS.
The head of the corporate tax division of a major public relations firm has proposed investing $295,000 in personal computers for the staff. The useful life and recovery period for the computers are both 5 years.
a. What are the amounts and character of Tom's recognized gains or losses? b. What is Tom's basis in the Total stock and notes? c. What is Total's basis in the property received from Tom?
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