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A fixed asset with a cost of $100,000 and accumulated depreciation of $58,000 is sold for $50,000. What is the amount of the gain or loss on disposal of the fixed asset?
Dave and Kathy have one child, who is under 13. Their AGI is $22,000. The child is in day care. Kathy was a full time student for 5 months of the year and had earned income of $1,000 attributable to a period she was not in school. The day care expens..
As the source data (i.e. selling price, variable cost per unit, fixed costs and units sold) will change on a monthly basis, you should use formulas to automatically calculate the following values for the income statement and cost-volume-profit ana..
Prepare journal entries for Marcey Co. for: Accounts receivable in the amount of $1,000,000 were assigned to Utley Finance Co. by Mars as security for a loan of $850,000. Utley charged a 3% commission on the accounts; the interest rate on the note is..
General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls, and Green Giant vegetables. The following items were presented in the company's financial statements. For each item, indicate (1) the type of acc..
In Marshall Company, data concerning two products are unit contribution margin—Product A $14, Product B $15; machine hours required for one unit—Product A 4, Product B 3. Compute the contribution margin per unit of limited resource for each product.
What ethical concerns must an auditor address when sending and receiving confirmations? Can you think of any situations in which ethical considerations would preclude the use of confirmations? How would you respond to confirmation exceptions?
Prepare a report that indicates the effect on the company's total net operating income of buying part F77 from the supplier rather than continuing to make it inside the company.
Determine labor efficiency variance
Question 4 Calculate a table of interest rates based on the following information: Inflation expectations for year 1 = 3%, year 2 =3.5%, years 3-5 =5% The default risk is .1% for year one and increases by .2% over each year Liquidity premium is 0 for..
Find the correct entry for Flores on November 17, assuming the correct payment was received on that date and What is the correct entry for Flores on November 10?
Annuities: Saving for retirement or a large purchase, such as a house, can be done by beginning with a small amount per month; as your income increases, the amount you set aside per month can also increase. Calculate the amount of interest on this ac..
The wage then increases to $10. The wage then increases to $14. Each time the budget constraint: a. Rotates clockwise with new vertical intercept higher than before and new horizontal intercept lower than before
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