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Continental Industries is a diversified manufacturing company with a decentralized management structure. Each major division is treated as a profit center. One of the divisions is Westco, a chemical plant that produces a single product, P7. In recent years, the entire annual output of 400,000 tons of P7 has been sold to another division, Acme Chemical, which uses it as an ingredient in a variety of products. The transfer price is currently $2,100/ton. Variable cost to produce P7 is $600/ton. Westco's fixed costs are $540 million per year, resulting in a total cost of $1,950/ton. Of the fixed cost, 30% is depreciation on plant and equipment, and 25% is allocated corporate-level costs. Acme has found an outside supplier for P7 at a price of $1,550/ton. The president of Westco refuses to meet this price, as it is below cost. The president of Acme says she will purchase externally if Westco refuses to meet the market price. As CEO of Continental, discuss the factors that should be considered in resolving this dispute.
Elaine's original basis in the Hornbeam Partnership was $25,000. Her share of the taxable income from the partnership since she purchased the interest has been $100,000, and Elaine has received $75,000 in cash distributions from the partnership
On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2030. In addition, each $1,000 bond was issued with 25 detachable stock warrants,
Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is:
Problem: SO University's business program has the facilities to handle 2,000 students per semester. In an effort to limit class size to reasonable level (under 200).
The Audit Committee of the board of Directors is unfamiliar with the professional and ethical standards that govern the conduct of an audit and the issuance of an audit opinion.
Determine the amount of net income for April, assuming that noadditional capital stock was issued but dividends of $25,000 werepaid during the month.
Discuss the relevance of budgeting as it relates to the accounting profession in general. Relate lessons learned from a self-selected reading or from something you learned while working on your accounting profession in general.
4-5a hogan thrift shop payroll register for period ending december 18 20 marital statusno. of wh allow. deductions
For many months your prospective ERP customer has been analyzing the hundreds of assumptions built into the $800,000 ERP software you are selling. So far, you have knocked yourself out to try to make this sale.
If Fama Company, with a break-even point at $360,000 of sales, has actual sales of $480,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? Round the percentage to the nearest whole number.
In exchange for all of its stock, Aqua receives: assets (basis of $380,000 and fair market value of $1.8 million), trade accounts payable of $125,000, and loan due to a bank of $375,000. The proceeds from the bank loan were used by Shawn to provid..
give three reasons why health care organizations need to generate and accumulate operating profits. explain why profits
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