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Jake Smith opened his Balinese coffee shop business in downtown Boise on January 1st 2010. On December 31st, 2010, he sat down with his accountant to figure out how his business had done in its first year and heaved a sigh of relief when his accountant reported that his EBT came to $20,000. Revenues, at $1,050,000 looked good. His expenses were as follows:
Salaries and benefits paid to employees $210,000Jake's own salary $100,000Supplies (coffee, tea, milk, pastries, etc.) $620,000Cost of Restaurant grade coffee machine $30,000Miscellaneous operating costs $44,000Interest on loan $12,000
How much did Jake's accountant allocate for depreciation and amortization?
a. $44,000
b. $14,000
c. $4,000
d. $0.00
A company with $800,000 in operating assets is considering the purchase of a machine that costs $75,000 and which is expected to reduce operating costs by $20,000 each year. The payback period for this machine in years is closest to:
On January 2, 2011, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2012.
Examine at least four accounting regulatory bodies and discuss how an organization complies with the standards of the regulatory bodies you slecet
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Which of the following combinations of accounting practices will lead to the highest reported earnings in an inflationary environment?
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Using the same concept selected above, discuss how a business manager may benefit from an understanding of this statement.
Based on the information below, illustrate the effects on the accounts and financial statements of the Seller and the Buyer. Both use a perpetual inventory system.
Which of the following statements is NOT correct concerning the Cash Budget?
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