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Gina Matheson owns and operates a successful florist shop in Bloomington, Indiana. Gina estimates that her variable costs are $0.25 per sales dollar (i.e. variable costs represent 25% of revenue) and that her fixed costs amount to $6,000 per month.
a. How does Gina's monthly profit increase as revenue increases? (Note: given that absence of unit-level data, you will need to express Gina's monthly profit in terms of revenue).
b. How much revenue does Gina need to generate each month to break even?
c. How much profit would Gina earn if her revenues were $10,000 per month?
When an income statement shows data for segments of the organization, and data for each segment are added together to get totals for the whole organization:
Prepare journal entries that should be recorded as a result of each of the above contingencies. If no journal entry is needed, briefly explain why.
Day Company purchased a patent on January 1, 2010 for $360,000. The patent had a remaining useful life of 10 year at that date. In January of 2011, Day successfully defends the patent at a cost of $162,000, extending the patent's life to 12/31/22...
How their three different options will stimulate interest in the company. Please briefly explain how the following three options will affect the company. 1. a 20% stock dividend
Exercise 23-12 (WileyPlus) prepare a statement of cash flows using direct method
The following transactions were made by Waite Company. Assume all investments are short-term and are readily marketable. Journalize the transactions.
Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.
Debt guarantees are: a) are considered to be a contingent liability. b) are never disclosed in the financial statement c) are a bad business practice. d) are recorded as a liability even though it is highly unlikely that the original debtor will defa..
Which of the following best describes the deductions independent contractors may claim for valid business reasons?
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
What specific labour and overhead costs would be incurred, both before and after the split off point? Again, be specific here in terms of what you think would need to be incurred.
If all of the methods produce similar results, then decision makers can have more confidence in the estimated cost of equity. Why do you think this is a correct statement?
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