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In the current year, a trust has distributable net income (DNI) of $30,000. During the year, the trust makes a mandatory distribution to Sarah of $5,000 and a discretionary distribution of $10,000 to Kyle. The trust has no tax-exempt income. The distribution deduction of the trust is:
a. $30,000
b. $15,000
c. $10,000
d. $5,000
At the break-even point of 1,500 units, variable costs are $60,000, and fixed costs are $30,000. What would operating income be if 1,501 units are sold?
Is Margaret's behavior regarding the cost information she provided to Susan unethical? Explain your answer.
You have determined that its present capital structure (80% equity and 20% debt) is optimal, and its net income is forecasted at $140 million. Use the residual distribution approach to determine SSC's total dollar distribution.
Computation of total overhead rate and total overhead variance Earth Company expects to operate at 80% of its productive capacity of 25,000 units per month. At this planned level, the company expects to use 40,000 standard hours of direct labor.
Wiley Company had total revenues of $300,000 for a recent month. During the month the company incurred operating expenses of $205,000 and purchased land for $45,000. Compute the amount of Wiley's net income for the month.
Suppose that on June 1, Rockin' Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $500. During June, Michael Martell, fund custodian, signs the following petty cash tickets:
Distinguish between liquidity and profitability.
Lata Inc., produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can.
Expalin how Wal-Mart could use the international bond market to finance the establishment of new outlets in foreign markets.
V Company's product has a labor standard of 2 hours per unit. For 2011, it estimates its production will be 200,000 units (400,000 DLHs). It budgets total overhead at $900,000, which results in a fixed overhead rate of $1.50 per hour.
Maples Corp., whose outstanding stock is worth $4 million, has a net operating loss carryforward of $1 million. Maples is owned 45 percent by Alan and 55 percent by Cline, who are otherwise unrelated.
The concept of operating leverage Signifies to which of the following?
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