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Fairfolk Credit Union purchased a video surveillance camera for security purposes at the beginning of 2008. The camera cost $9,000 and is expected to last four years. Assume that the camera has a salvage value of 900. Calculate Fairfolk's 2008 depreciation expense relating to the camera, using the double-declining balance method.
Ajani Company has variable costs equal to 40% of sales. The company is considering a proposal that will increase sales by $10,000 and total fixed costs by $6,000. By what amount will net income increase?
A foundation pledges to donate $1 million to an art institute one year in the future. When, and in what amount, should the institute recognize revenue?
Assuming that the company's $337,485 ending Finished Goods Inventory account for year 2011 had $137,485 of direct materials costs, determine the inventory's direct labor costs and its overhead costs.
At the beginning of the fiscal year, the balance sheet showed assets of $1,364 and owners' equity of $836. During the year, assets increased $74 and liabilities decreased $38. Owners' equity at the end of the year totaled:
Compute the East Division's ROI for last year; also compute the ROI as it would appear if the new product line is added and compute the East Division's residual income for last year; also compute the residual income as it would appear if the new pro..
Eastern Pacific Company sells a single product for $34 per unit. If variable expenses are 65% of sales and fixed expenses total $12,800, the break-even point in quantity and dollar($) will be:
Make the journal entries to record the following transactions in Hunt Ltd’s records by using perpetual inventory system.
Ringler Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for either entity. If a gain on the disposal of the old asset ..
purchased incubators for the nursery for $47,300 from unrestricted resources. (assume straight line deprecation on all hospital capital assets).
The 17,200 hours worked during the period resulted in production of 8,500 units. Manufacturing overhead cost incurred was $136,500.Calculate the following three overhead variances:
Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?
On January 2 of the current year, Gamma liquidates and distributes all property to Marsha except that Gamma retains cash to pay the accounts payable and any tax liability resulting from Gamma's liquidation. Assume that Gamma has no other taxable i..
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