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On December 1, Miser Corporation exchanged 2,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site. The treasury shares were acquired by Miser at a cost of $40 per share, and on the exchange date the common shares of Miser had a fair market value of $50 per share. Miser received $6,000 for selling scrap when an existing building on the property was removed from the site. Based on these facts, the land should be capitalized at what amount?
A television set sells for $1,000 U.S. dollars. In the spot market, $1 = 110 Japanese yen. If purchasing power parity holds, what should be the price (in yen) of the same television set in Japan?
Which alternative would you recommend that the company accept? Show all computations using the net present value approach. Show separate computations for each project.
The company's current and total liabilities were $267,000 and $600,000, respectively. Compute the amount of working capital and the current ratio using this information.
During the first month, Mars collected $400,000 on assigned accounts after deducting $900 of discounts. Mars wrote off a $1,060 assigned account.
Determine the direct labor rate variance? Evaluate the standard direct labor rate?
Name and briefly explain the five components of COSO's internal control framework. Explain the relationship between the Sarbanes-Oxley Act and COSO.
What price would have been charged to the customer if the job required $3,3000 in materials and $4,5000 in direct labor cost, and the company priced its jobs at 20% above the job’s cost according to the accounting system?
Based on your review of the financial data for every company, show the accuracy and reliability of the data for making investment decision.
Assume that liberty tax service uses a job order costing system. For the basic cost category of direct materials, elucidate how a job cost sheet for liberty tax service would differ from a job cost sheet for a manufacturing company.
How can you explain the diverse opinions? What policies or procedures, if any, should CBU develop to avoid such problems in the future? Your response should also include a Biblical perspective.
His mother was a resident of a home for the aged for the entire year and had no income. What is Murray's filing status for 2011, and how many exemptions should he claim on his tax return?
During the year, the company purchased $274,000 of materials; however it paid for only $264,000. How much inventory was requisitioned for use on jobs during 2010?
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