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Accounting equation
The total assets and total liabilities of Dollar Tree Inc. and Target Corporation are shown below.
Dollar Tree (in millions)
Target Corporation (in millions)
Assets
$2,381
$43,705
Liabilities
922
28,218
Determine the stockholders' equity of each company.
Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. (Show computations), Using the LIFO assumption, calculate the value of ending inventory for March
Webb Co. acquired 100% of Rand Inc. on January 5, 20011. During 2011, Webb sold goods to Rand for $2,400,000 that cost Webb $1,800,000. Rand still owned 40% of the goods at the end of the year. Cost of goods sold was $10,800,000 for Webb and $6,40..
Bease Inc. has a capital budget of $625,000, and it wants to maintain a target capital structure of 60% debt and 40% equity. The company forecasts a net income of $475,000. If it follows the residual dividend policy, what is its forecasted dividen..
At the time Silver is acquired by Gold, the accumulated earnings and profits of Silver are $100,000 and Gold s are $50,000. How does Alluvia treat this transaction for tax purposes?
Focus on the Case Study sections VIII-XV, pp. 20-39 and use your knowledge of the Motiwalla & Thompson textbook, chapters 5-9 inclusive and at least 6 academically sound external sources, to develop your report.
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes. Explain.
Journalize the revenue transaction, and indicate
Carolina Mills purchased $280,000 in supplies this year. The supplies account increased by $30,000 during the year to an ending balance of $71,000. What was supplies expense for Carolina Mills during the year?
Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months. (Input all amounts as a positive value.
White Corporation decides to discontinue the business and distributes all of the $4 million of insurance proceeds collected as a result of the fire to Helen and Gray Corporation in redemption of 20 shares of stock from each shareholder. Determine ..
Does a mobile home owned by a client qualify as real property or personal property for each state? What difference to the client would it be if it were classified as either?
How much salary must Gander pay Patrick during the period November 1 through December 31, 2008, to permit the corporation to continue to use its fiscal year without negative tax effects?
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