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Fatimah and Ahmad, who make $50,000 per year, calculated their average tax rate at 20 percent. They contribute 15 percent of their income to charity and pay themselves 10 percent of their income. They have 25 years and $100,000 remaining on their 6-percent mortgage ($7,730 per year), three years and $20,000 remaining on their 7-percent auto loan ($8,410), and 10 years and $9,000 remaining on their 4-percent college loan ($1,160). In addition, utilities and property taxes were $2,250 per year, food was $5,500, insurance was $2,000, and other expenses were $5,530. Calculate their income statement using the better method, and round values to the nearest $10. How are they doing?
Auditing standards require the confirmation of accounts receivable in normal circumstances. What are the three exceptions to this requirement? Or describe the differences between positive and negative confirmations. Which type is generally viewe..
Compare and contrast accounting principles in lean production to those of typical production. Explain how you would advise Dr. White to prepare for reduced budgets.
Calculate the increase or decrease in profits for the three divisions and the company as a whole and explain your thought process, comment on the situation, and make a suggestion based on the computations you have made.
show all workmary kay cosmeticsselected data and additional information from the companys records are presented
evaluation of mortgage option value.kim and dan bergholt are both government workers. they are considering purchasing a
Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet - Earned but unbilled revenue at March 31 was $865
Prepare all necessary journal entries for the year 2014 and calculate the amount of gross profit that would be recognized each year from installment sales.
you want to buy a piece of land and the owner would sell it to you for 120000 cash. alternatively he would let you pay
Prepare the required journal entry to record disposal of the van, assuming the following sales amounts for cash
Use the Contribution margin ratio CVP formula to compute National breakeven in dollars. If the average trade leads to $1000 in revenue for National how many trades must be made to break even?
On January 1, 2015, Water World issues $26 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Water World intends to use the funds to build the world's largest water avalanche and the “torna..
Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method. Would income have been greater or less?
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