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Complete Problem 12.1 on page 218-219 of the course text (solution is on page 487). Next work the problem again using the following variables: Average salary is 85,000£; national insurance is 12%; pension contribution is 3%; there are two weeks of vacation; 5 days of holidays; and chargeable hours are 40 per week with administrative time taken from family time. Calculate the hourly rate to cover the cost of each financial adviser.
Explain how should this transaction be reported in Happy’s 12/31/09 year-end financial statements (balance sheet, income statement, cash flow statement)? Give amounts and accounts. Also, the effect on the balance sheet must balance.
at which time the fair values of the equipment and building as of the acquisition date are revised to $180,000 and $550,000, respectively. At the end of 2012, illustrate what adjustments are needed for the financial statements for the period endin..
Determine her deductions and credits allowed and the suspended credits and losses.
Fill the journal entry to record interest on 30 th June, using the effective interest method and prepare journal entry to record interest on 31 st December, using the efficient interest method.
The market value of the common stock at the date of the conversion was $30 per share. Illustrate what total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common..
Evaluate the annual break-even point, in number of haircuts.
Comparative income statements at various capacity levels - Analysis of income effects of additional business
Describe the production budget that you prepared. why will the company produce more units than it sells in July and August and less units than it sells in September and October?
Valuation of Inventory using FIFO and LIFO methods and All-Pages Book Company reports the following inventory transactions during the current month
4) Comment on the degree to which the statement of revenues, expenditures and other changes in fund balance captures the district's cost of services. How can you validate such a financial statement
Indicate the amount of income or loss from the partnership that should be reported by Wilson in 2011 on his Individual Income Tax Return. Compute Wilson's basis in his partnership interest at the end of 2011.
Describe the major weakness of the performance report and describe clearly why all the variances for the variable expenses are unfavorable (U).
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