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For 2007 Mossland Corporation reported gross profit $100,000; net income of $24,000; sales $500,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 profit margin?A. 20%
B. 25%
C. 6%
D. 4.8%
Describe wether you agree that capitaliztion of the tooling supplies is the preferable method of accounting for Auto parts ,Inc.
If a company has a return on equity of 25% and wants a growth rate of 10%, how much of ROE should be retained.
If a company pays 8 percent interest to borrow $500,000, but is in an income tax bracket that requires it to pay 40 percent income tax, what is the actual net-of-tax interest cost that the company incurs?
The CFO for a corporation deliberately misstates expenses on the income statement purely out of a sense of loyalty to his CEO and the company. The CFO will receive no financial incentive for this misstatement. In fact, he risks losing his job by d..
What amount, if any, is disclosed in the balance sheet as a liability for future warranty costs as of December 31, 2008, under each method?D.) which method b
All income statement items are subject to a 40% income tax rate. In its 2009 income statement, Freda's separately stated income tax expense and total income tax expense would be:
calculate the amount of net income Argentine Company should report for 2008 and 2009.
What is the current financial reporting requirement for charity care? Do you agree or disagree with the current financial reporting requirement?
Rental income of Personal income taxes system in the US. Is it a progressive taxation system? Why or why not?
In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production?
Provide one reason for instituting performance-based pay at an organization and one reason why it might not be appropriate. Select a company, and explain how you recommend that the Chief Executive Officer (CEO) be compensated. Is your recommendati..
On October 10, 1981, the general fund of Warsaw repaid to the utility fund a loan of $1000 plus $40 interest. The loan had been made earlier in the fisacal year. Prepare JE for Government-based and fund-based financial statements.
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