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If a firm borrows $8,000 to finance the purchase of a new machine. The loan is to be repaid in 7 annual installments at the end of each of the next 7 years, and the interest rate on the loan is 12%. Calculate the annual payment, rounded to the nearest dollar.
What is consolidated net income for this year prior to reduction for the noncontrolling interest's share of the subsidiary's net income?
Armando contributed some inventory from his sole proprietorship to a public charity for its use. On the date of the contribution, Armando's basis in the inventory $2,000 and the fair market value was $5,000.
The following information is available for completed job: Direct materials,$60000; direct labor $ 90000,manufacturing overhead applied $ 45000, units produced 5000 units, units sold 4000 units. the cost of the finished goods on hand from this job ..
When a parent uses the initial value method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is true before making adjustments on the consolidated worksheet?
Homeville Inc. has a sales budget for next month of $800,000. Cost of goods sold is expected to be 25 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.
At the time of his death on June 6, 2011 Keith was involved in the following real estate.
Discuss the differences between temporary and permanent accounts. What will happen if the temporary accounts like revenue, expense and dividend accounts are not closed in the ledger?
a barn with an adjusted basis of 125,000 was destroyed by a tornado on March 5, 2011 on May 15, 2011 the insurance company paid the owner 150,000 the owner reingested 170,000 in another barn what is the basis of the new barn if non-recognition of ..
For several years a client's physical inventory count has been lower than what was shown on the books at the time of the count so that downward adjustments to the inventory account were required. Contributing to the inventory problem could be weak..
Assume cash paid to suppliers for the current year is $350,000, merchandise inventory increased by $5,000 during the year, and accounts payable decreased by $10,000 during the year. What was the cost of goods sold for the current year?
In the manufacture of 10,000 units of a product, direct materials cost incurred was $145,800, direct labor cost incurred was $82,000, and applied factory overhead was $45,500. What is the total conversion cost?
Do you think that it is a wise investment to contract services taht provide security agains fraud or should it be an in-house department?
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