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Merchandise is sold for $3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of $150. If $500 of the merchandise is returned prior to payment and the invoice is paid within the discount period, the amount of the sales discount is $65.
The equipment cost $540,000, had accumulated depreciation of $240,000 at the end of the year after recording annual depreciation, and had a fair value of $330,000. After the revaluation, the accumulated depreciation account will have a balance of:
During 2010, Durham Manufacturing expected to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost.
Misty's effective tax rate is 40% and there were 1,000 shares of common stock outstanding.
Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries and $100,000 for Store Wages. None of the employees has reached the earnings limits specified for federal or state employer payroll taxes. The following..
how can a country's tax system affect the manner in which an operation in that country is financed by a foreign investor?
During 2013, Rachel Parkins, president of Mathieson Company, was paid a semimonthly salary of $6,800. Compute the amount of FICA taxes that should be withheld from her:
Describe how operating cash flows can serve as one indicator of earnings quality.
The direct method might be easier to understand but it is also more expensive and more time consuming for the company why is that? and Whats the best method to use for businesses?
You have been asked to prepare a presentation on managerial accounting for the next board of directors meeting for your company. Prepare a paper of 2-3 pages that discusses the following:
Shipyard Corp. acquired Boatworks Corp. in a Type A reorganization on October 19, 2011. On the date of acquisition, Boatworks had a deficit in its earnings and profits of $30,000.
During 2010, Vaughn Corporation sold merchandise costing $1,500,000 on an installment basis for $2,000,000. The cash receipts related to these sales were collected as follows: 2010, $800,000; 2011, $700,000; 2012, $500,000.
A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:
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