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Using £10 000 of his own money and £15 000 borrowed from the bank at 1% monthly interest, Nigel has purchased asteam-cleaning machine. Using this machine, he restores the facadesof old, soot-covered buildings in London. He can work for ninemonths out of the year - the machine does not work wellduring the winter - and earns £2 000 a month. How muchcan Nigel pay himself per month if he wants to replace the machinebefore it becomes worthless, given that it depreciates at 20% peryear, straight-line depreciation? If he puts money into a sinking fund, it will earn 0.5% monthly interest. Assume that Nigel wouldlike to be debt-free by the time that he replaces the machine, and that he wants to buy the replacement machine out right, rather thantaking out another loan.
In 2003 the company estimates that direct material cost and direct labour cost will increase by 12 percent. It also estimates that overhead cost will increase by a total of $ 6,000 and that selling and administrative cost and sales volume will rem..
Actual production in November was 3,100 units of Titactium. There was a favourable materials price variance of $380 and an unfavourable materials quantity variance of $120. Based on these variances, what could one assume?
If a lease transaction is accorded capital lease treatment rather than operating lease treatment, it would have what impact on the following financial items of the lessee?
During the remainder of the year, Ramirez generates revenues of $600,000 and expenses of $360,000 and paid no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?
Waves Company purchased a patent for $170,000 at the beginning of 2011, and estimated that its expected useful life was 10 years. The patent has a legal life of 17 years. What amount should be recorded as amortization expense for the patent in 201..
Enter the trial balance on a ten-column work sheet and complete the work sheet. Add accounts as needed.
When both borrowed an owned funds are mingled int he same account for purposes of categorizing interest expense a repayment of the debt is allocated first to?
orm Fish makes cheap fishing rods and operates in a competitive market. The company has a fixed cost of $20,000 per period. In addition the firm incurs production or variable costs depending on its output as follows:
On their joint tax return, their taxable income is $100,000. How much of a marriage penalty or benefit will Maria and Tony experience in 2010?
Member A has an adjusted basis in his membership interest in Net Big Partnership of $8,000. Net Big liquidates completely and distributes a piece of real estate to Member A in which Net Big has a basis of $8,000 and which has a fair market value o..
The balance sheets of Davidson Corporation reported net fixed assets of $320,000 at the end of 2011. The fixed-asset turnover ratio for 2011 was 4.0 and sales for the year totaled $1,480,000. Net fixed assets at the end of 2010 were ??
A company issued 300,000 of 20-year, 8 percent bonds at 96. If interest is paid semiannually, what is the amount of bond interest expense recorded on any interest date?
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