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A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 65% of sales, and sales were $1,000,000. Operating profit was?
During the past several years the annual net income of Avery Company has averaged $540,000. At the present time the company is being offered for sale. Its accounting records show the book value of net assets (total assets minus all liabilities) to..
What criteria must be met before revenues can be recognized on a modified accrual basis? For example, when are property taxes and sales taxes included in revenues? Please use an example of a government entity that you are familiar with in your respon..
On January 1, 2009, Glenville Co. acquired 80,000 of the 100,000 shares outstanding in Acron Corp. for $500,000. The fair value of Acron's net assets was $600,000 and Glenville will account for its interest using the acquisition method.
smoluk mining co. is currently operating less than 50 of capacity. the management of the company expects sales to drop
by installing some elaborate inspection equipment on its assembly line the robot corp. can avoid hiring an extra worker
Zeppo Supply Company manufactures cleaning products. During the year, the company spent $600,000 on chemicals and $728,000 on conversion costs. Overhead is applied at a rate of 180% of direct labor costs. How much did the company spend on manufact..
buzz inc. has 8000 shares of 5 50 par cumulative preferred stock and 50000 shares of 3 par common stock outstanding. no
mason farms purchased a building for 689000 eight years ago. six years ago repairs were made to the building which cost
What did you learn about an entity's expenditure cycle? How many components are part of this cycle? What did you learn in your audit of Apollo's expenditure cycle? Did you not any errors or findings? If yes, how do you think these errors or findin..
Gomez Service Company paid their first installment on their Notes Payable in the amount of $2,000. How will this transaction affect the accounting equation?)
good internal controls are essential for effective and efficient operations of an enterprise. the downside is excessive
on january 1 2013 phantom company acquires 320600 of spiderman products inc. 9 bonds at a price of 304931. the interest
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