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The Ritz Manor is a popular seaside resort. A double room cost $220 for one night. To reserve a room, guest must pay one night's stay in advance. On each floor of the hotel, Vendalite company operates vending machines with energy bars, juices, and other snacks for guest. Vendalite stocks the machines and collects revenue every week. Total average weekly revenue from these machines is $720. The Ritz manor is entitled to 30 percent of the revenue from the machines. Vendalite sends a check to Ritz Manor once at the end of each quarter fro the resorts share of the revenue. Based on this information, what type of adjusting entries does Ritz manor have? how are amounts of these adjustment determined? Which accouts are affected?
What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?
Describe a variable, fixed, mixed and step cost in an organization. Would this organization be more likely to benefit from using a manufacturing cost hierarchy or a customer cost hierarchy for determining cost drivers?
What amount of the bond issue proceeds should Evan record as an increase in equity?
Visit a local movie theater and check out both its concession area and its showing areas. The manager of a theater must confront questions such as: How much return do we earn on concessions?
If ABC Service collects $50,000 from customers on account: a) total assets are unchanged b) liabilities increases c) owners equity decreases d) onwers equity increases
In exchange for all of its stock, Aqua receives: assets (basis of $380,000 and fair market value of $1.8 million), trade accounts payable of $125,000, and loan due to a bank of $375,000. The proceeds from the bank loan were used by Shawn to provid..
accounting objective questions, Which of the following is a cash flow from operating activities? A cash inflow from financing activities includes?
What are some of the differences between depreciation methods allowed by the IRS and others permitted by GAAP? Why does the IRS have accelerated method of cost recovery for tax payers? Explain
Which one of the following statements is correct concerning capital structure weights?
if a company declares a 2 for 1 stock split when its stock was trading for $40 just prior to the announcement and it has 2 million shares outstanding, what will the theoretical market price of the stock be just after the stock split? Are stockhold..
Paul's Valley Company issued bonds with a $15,000 face value on January 1, 2009. The bonds were issued at face value and carried 5-year term to maturity. They had a 5% stated rate of interest that was payable in cash on January 1 of each year begi..
Using the installment-sales method, make summary entries to record: (a) the installment sales and cash collections; (b) the cost of installment sales; (c) the unrealized gross profit; (d) the realized gross profit.
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