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The Biltmore Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $3,200 in taxable interest and $8,000 in tax- exempt interest. In addition, the trust recognizes a $2,500 long-term capital gain.
The trustee assesses a fee of $1,800 for the year.
1. Compute trust accounting income, where the trust agreement allocates fees and capital gains to corpus.
2. Same as (a), except that fees are allocated to income.
Find the contribution margin per haircut. Assume that the barbers' compensation is a fixed cost. Show calculations to support your answer.
Frank Clarke, an employee of Smithson Company, was covered under a noncontributory pension plan. Frank died on April 15 2010 at age 64 and pursuant to the plan, his widow received monthly pension payments of 500 beginning May 1 2010.
What should Altitude Online do with its old computer hardware as it is replaced with new hardware? Why do you think Altitude Online decided to phase in new desktop computers, but replace mobile devices all at once?
Prepare journal entries to record the following transactions and events applicable to the calendar year 2013 operations of Lily City:
1.Freitas Corporation was organized early in 2013. The following expenditures were made during the first few months of the year:
nbspstatic budget income statementsales
Prepare journal entries associated with changes due to errors. How do they relate to the practice of accounting and its uses in business?
The dividend is expected togrow at a constant rate of 6 percent a year. What stock price is expected 1 year from now? What is the required rate of return?
determine which is better for an organization - to foster extrinsic motivation in its employees or intrinsic motivation
Future cash flows are, in many cases, subject to change. List several events that could occur that might influence the cash flows in this situation.
a company has the opportunity to sell 1000 extra units of product to a new customer outside the us. the price at which
Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure?
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