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Marriott International, Inc., and Wyndham Worldwide Corporation are two major owners and managers of lodging and resort properties in the United States. Abstracted income statement information for the two companies is as follows for a recent year:x Marriott Wyndham x (in millions) (in millions) Operating profit before other expenses and interest $695 $718 Other income (expenses) 36 12 Interest expense (180) (167) Income before income taxes $551 $563 Income tax expense 93 184 Net income $458 $379 Balance sheet information is as follows:x Marriott Wyndham x (in millions) (in millions) Total liabilities $7,398 $6,499 Total stockholders' equity 1,585 2,917 Total liabilities and stockholders' equity $8,983 $9,416 The average liabilities, stockholders' equity, and total assets were as follows:x Marriott Wyndham x (in millions) (in millions) Average total liabilities $7,095 $6,582 Average total stockholders' equity 1,363 2,802 Average total assets 8,458 9,384 1. Determine the following ratios for both companies (round to one decimal place after the whole percent):a. Rate earned on total assetsb. Rate earned on total stockholders' equityc. Number of times interest charges are earnedd. Ratio of liabilities to stockholders' equity2. Analyze and compare the two companies, using the information in (1).
Prepare a schedule starting with pretax financial income and compute taxable income. Prepare the journal entry to record income taxes for 2011.
In light of the business scandals of the last few years, does the AICPA's Code of Professional Conduct work? What is the area of greatest concern?
Assume that the fair value of the Dryer division is $1,100,000 instead of $1,250,000. Prepare the journal entry to record the impairment loss, if any, on December 31, 2004.
The purpose of this assignment is to provide an opportunity to utilise your knowledge of international marketing to undertake an analysis of the overseas market condition to develop a practicable marketing plan.
Kent Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Kent $2.00 each. Kent estimates that 40 percent of the coupons will be redeemed. Data for 2006 and 2007 are as ..
Partners bob and don have agreed to share profits and losses in an 80:20 ratio respectively, after bob is allowed a salary allowance of $140,000 and don is allowed a salary allowance of $70,000. if the partnership had net income of $140,000 for 20..
The partners share equally in partnership capital, income, gain, loss, deduction, and credit and capital is not a material income-producing factor.
Identify the audiences, purposes, and natures of financial statements and managerial reports. Explain the use of financial accounting information in making informed and ethical business decisions
Megan made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.16 a share.
Please describe the procedure used in either case and do you think there was sufficient internal control to prevent improper claims?
On February 28,2011, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2011, was $2,100,000. The income tax rate is 40%.
The CEO paid $1220 for an expensive dinner and spent $600 for the game. What is the deductible amount of these expenses?
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