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A company's income before interest expense and income taxes in 2010 and 2011 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio for both years, and comment on its level of risk.
The production departments are profit centers. Their goods are transferred to subsequent depart-ments, such as a sales department or sales division, at prices that approximate market prices for similar products.
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Purchases land having a fair value of $336,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $592,147.
You read in the wall street journal that 30 day US treasury bills are currently yielding 8%. your brother in law, a broker, a broker at Kyoto Securities, has given you the following estimates of current interest rate premiums:
What was the affect of unethical behavior on the profitability of the company?
How would I calculate an annuity contract that pays $800 per month. The annuity cost $60,000 and it has an expected return of $100,000. How much of each monthly annuity payment is includible in a gross income?
What is the expected return of this asset? What is Esperanza's expected utility? What is her certainty equivalent? Suppose that Esperanza can purchase insurance that guarantees her a return of $4900 regardless of the return on the asset.
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
What is the amount of income from the partnership that Diamond Co. must report for its tax year ending June 30, 2010? What is the amount of income from the partnership that Bill must report for her tax year ending December 31, 2010?
Classic Ions, nc. purchased manufacturing equipment with an expected useful life of five years or 5,000 hours of usage. The equipment was purchased on Janruary 1, 2008, for $460,000.
Critique the benefits and drawbacks of proprietorships and partnerships as a form of business organization.
Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
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