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Lion Company's direct labor costs for the month of January were as follows: Actual total direct labor-hours............ 20,0000 Standard total direct labor-hours.........21,000 Direct labor rate variance—unfavorable...$3,000 Total direct labor cost.........................$126,000
What is an impairment loss - what is a cash-generating unit and determine if an impairment loss exists for the nursery division and how is value in use for a cash generating unit calculated.
Cash of $38,000 has been placed in a fund for the retirement of long-term debt. The cash and long-term debt have been offset and are not reflected in the financial statements.
Nikennis Corporation has outstanding at December 31, 2012, 50,000 shares of $20 par value, cumulative, 8% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year. Calculate Nikennis’s 2012 net inco..
The two original shareholders of a LLC issued 40,000 shares of common stock to a valued employee (vice-president of marketing) who was being wooed by a rival company. The employee is prohibited from selling the shares for 5 years and did sign a non-c..
Holiday Bakery owns 60 percent of Farmco Products Company’s stock. On January 1, 20X9, inventory reported by Holiday included 21,000 bags of flour purchased from Farmco at $18 per bag. Prepare the consolidation entry or entries required to remove the..
Lake Michigan Credit Union finances auto loans for its members. Each loan can be classified into one of four categories: paid in full, good standing, poor standing (with one or more missing payments), and delinquent (where the debt is sold to a colle..
Medfin Accounting Company (MAC) specializes in providing accounting and tax services for medical establishment and professionals. Presently, the company's production method is highly labor-intensive because many of the book keeping tasks are done man..
1. What is the goal for the public sector when entering into a private finance initiative (PFI) or public private partnership (PPP)? 2. In a PPP what is the public sector’s focus and what is the private sector’s focus? 3. What were t..
You are now becoming an expert at valuing companies. You have been consulted to value an industrial firm. The enterprise value of the firm is $10.0 billion. The company has no straight debt. What is the company’s equity value utilizing the market val..
Joe is a single, self-employed individual who owns his own business. During 2015 Joe reported $200,000 gross income and $60,000 expense from his business. He also paid $30,000 in alimony to his former spouse, $4,000 mortgage interest on his personal ..
Explain to Mendoza whether the behavior was ethical - How do you explain your findings to the average potential investor?
Find a recent receipt from a purchase you made at a chain store (not a Mom and Pop store) and provide the code used on the receipt to indicate at which store location you made your purchase. Type the code in its exact form and the store name. Using t..
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