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Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below.
Product JB 50
Product JB 60
An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $663,800 for product JB 50 and $363,600 for product JB 60, and administrative expenses of $544,300 for product JB 50 and $343,100 for product JB 60. Income taxes are expected to be 30%.
Prepare the income statement budgets for the year.
Syntech is offered credit terms of 2/10, net 40, but decides to forego taking the cash discount and pays on the 45th day. What is Syntech's cost of foregoing the cash discount?
James purchased a new business asset (three-year property) on July 23, 2009, at a cost of $50,000. He did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Determine the cost recovery deduction for 20..
How should A.J. Smith recognize revenue on the extended warranty contracts?
Alliance software began 2009 with accounts receivable of $115,000, All sales are made on credit. Sales and cash collections from customers for the year were $780,00 and $700,000 respectively. Cost of goods sold for the year was $450,000. what was ..
National Cruise Line, Inc. is considering the acquisition of a new ship that will cost $200,000,000 In this regard, the president of the company asked the CFO to analyze cash flows associated with operating the ship under two alternative itine..
Conrad, who is single, had agi of $361,850 during the year. He incurred the following expenses and losses during the year:
There were no permanent or temporary differences during these three years. The corporate tax rate is 30% for 2006 and 2007, and 40% for 2008. Assuming that Neasha elects to use the carryback provision, what income (loss) is reported in 2007?
condensed financial data of fulton corp. for 2008 and 2007 are presented below.fulton corp.comparative balance sheetas
determine the beta of a portfolio consisting of equal investments security beta a t amp t .90 bank of america 1.10
Exchange rates relative to the transaction
investment in trading securities-journal entriesprepare the journal entries to account for the following investment
Determine the amount of manufacturing overhead that would have been applied to units of product during the period.
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