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On November 8, 2003, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and was sold to Wood for $89,000. From the perspective of the combination, when is the gain on the sale of the land realized?
A) Proportionately over a designated period of years
B) When Wood Co. sells the land to a third party
C) No gain can be recognized.
D) As Wood uses the land
E) When Wood Co. begins using the land productively
At normal capacity of 8,000 units, budgeted manufacturing overhead is: $48,000 variable and $135,000 fixed. If Wayman had actual overhead costs of $187,500 for 9,000 units produced, what is the difference between actual and budgeted costs
Euker's legal counsel has determined that under Euker's property and casualty insurance policy, Euker is entitled to insurance recovery for the fair value of the manufacturing plant in excess of the deductible, and that such recovery is probable.
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.
Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.
Sylvester Company requires clients to pay in advance for legal services. One such client made a $4,000 payment on May 1, and Sylvester Company recorded this transaction in the appropriate liability account. As of May 20, the legal services that th..
On the basis of the information above, determine the present value of the pension obligation (liability).
Use T accounts to record transactions involving assets, liabilites and owners equity for the following:
What is the total amount related to this loan that should be reported under current liabilities on the company's December 31, 2008, balance sheet?
The purpose of this assignment is to get a picture of the various roles managers play and the skills required to perform effectively in an accounting role.
Marshall Networks, Inc. has a total asset turnover of 2.5% and a net profit margin of 3.5%. The firm has a return on equity of 17.5%. Calculate Marshall's debt ratio.
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