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Northwick Company acquired 10,000 shares of the common stock of Shaver Corp. in July 2011. The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would be:
a. $0.
b. $2,500.
c. $5,000.
d. $10,000.
In May of 2011, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2011, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
Barbara transfers $10,000 cash and machinery having a $!5,000 basis and a $35,000 FMV to Moore Corp. in exchange for 50 shares of Moore stock.
A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method.
The change will result in a $1,800,000 increase in the start inventory at January 1, 2013. Consider a 40% income tax rate. Find the cumulative effect of this accounting change on beginning retained earnings
Define variable and fixed costs. Comment on how these costs are used to estimate future requirements. Discuss how contribution margin is used by managers for decision making.
Using a Governmental Agency or Not-for-Profit organization identify what are considered to be its major funds? In what key ways are major funds reported differently than non-major funds?
Security A has an expected return of 7 percent, a standard deviation of expected returns of 35 percent, a correlation coefficient with the market of -0.3, and a beta coefficient of -0.5. Security B has an expected return of 12 percent
A corporation that has both preferred and common stock has a deficit in accuulated earnings and profit at the beginning of the year. The current earnings and profits are $25,000.
Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.
When Nils dies this year, the $50,000 cash is still in a savings account. The consideration offset when computing Nil's gross estate is :
Mutual Funds What is the function of a mutual fund? Why are mutual funds popular among investors? How does a money market mutual fund differ from a stock or bond mutual fund?
Imperial Foods checkbook balance on December 31, Year 1 was $122,400. In addition, Imperial held the following items in its safe on December 31.
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