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Opal deducted $2,400 of state income taxes on her tax return last year. This year she received a state income tax refund of $170. What amount of the refund, if any, should Opal include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?
Purpose a vertical analysis of the income statement showing appropriate percentages for each item listed above. and what additional information would you need to determine whether these percentages are good or bad?
Master Budgeted income statement using Variable Costing and Overhead is applied on the basis of machine hours. The planned level of activity(denominator level) is 320,000 machine hours. The total budgeted fixed overhead is $800,000.
Create a memo to a group of students interested in pursuing careers in management accounting. Include in the memo, the role of management accounting and how management accounting may differ based on different types of companies or industries.
Why is it considered important to document the flow of an accounting information system and how does a document flowchart assist (i) an accountant, and (ii) a data security expert?
Based on your experience, you think the unit sales, variable cost, and fixed cost projections given here are probably accurate to ±11 percent. Determine the upper or lower bounds of these projections
Purpose of financial statements and cash budget and Prepare a balance sheet, income statement, and cash budget for the month of September. Hint: Your ending cash balance will be $25,000
Components of or items in bank reconciliation with example and operation to be done to complete reconciliation.
Determine Current Assets, Total Assets and Net Income based on the number.
Evaluate the variable cost per calculator and express the pocket calculator cost in a cost formula.
Evaluate the unit product cost for the month under variable costing and What is the unit product cost for the month under absorption costing?
What characteristics must the convertible bonds display in order to justify the accounting treatment followed on initial recognition and how was the portion of the bonds assigned to debt on initial recognition valued
Assume that variable expenses are reduced by 20% per unit, and the total fixed expenses are increased by 10%. Find the sales in units to achieve a profit of $20,000, assuming no change in selling price.
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