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A lawyer allocates overhead costs based on his hours working with different clients. the lawyer expects to have $200,000 in overhead during the year and expects to work on clients cases 2,000 hours during the year. in addition he wants to pay himself $50 per hour for working with clients. the lawyer however does not bill all of his clients based on covering overhead and his own salary. Some clients pay her on contingency fees. If the lawyer works with a client on a contingency fee basis, the lawyer receives half of any settlement for his clients. during the year the lawyer works 1,200 hours that are billable to clients. the remaining hours are worked on a contingency basis. the lawyer wins $3000,000 in settlements for his clients of which he receives half. Actual overhead was $210,000,What does the lawyer earn during the year after expenses ?
Eastern University pays the benefit directly to the university where the staff/faculty member's child is enrolled or if the student is attending Eastern, it reduces the amount of tuition owed by the faculty/staff member.
selected information about income statement accounts for the reed company is presented below the companys fiscal year
a box mass m1 kg lies on a smooth horizontal table. it is connected by a light inextensible string which passes over a
Is it probable that the use of information technology will eventually eliminate the audit trail, making it impossible to trace individual transactions from their origin to the summary total on the financial statements?
A. Prepare a trial balance in U.S. dollars at the date of acquisition. B. Prepare the journal entry to recognize the acquisition of LRB by Micro Electronics. C. Prepare the worksheet elimination, in journal entry form, at the date of acquisition.
Issued 5,000 ordinary shares at P45 per share, less cost related to the issuance of the share totalling P7,000.00
1. A manufacturing shop is designed to operate most efficiently at an output of 550 units perday. In the past month the plant produced 490 units. What was its capacity utilization ratelast month?
bragdon company is consistently profitable. its normal financial statement relationships are as followscurrent ratio
problem 10-3a indicate effect of stock dividends and stock splits lo6the following information applies to the questions
congress recently enacted an non refundable credit based on the cost of the qualifying alcohol and drug abuse
The Randalls have a married son and four grandchildren (ages 15, 17, 18 and19). They establish a trust under which the income is to be paid annually to the grandchildren until the youngest reaches age 25.
What is the main objective of internal control procedures and why should recordkeeping for assets be separated from custody over those assets?
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