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Contributions of long-lived assets may affect more than one type of fund.
Discovery Barn, a not-for-pro?t science center for children, received a contribution of $30,000 explicitly designated for the acquisition of computers. During the year it acquired $21,000 of computers, which it estimated to have a useful life of three years. It is the policy of the organization to charge an entire year’s depreciation in the year of acquisition.
Prepare all required journal entries, being certain to indicate the type of fund in which each entry would be made.
Explain how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale?
Post the adjusting entries, inserting balances in the accounts affected. Do not enter anything in the Item column. Indicate a zero balance by inserting a 0 (zero) in either of the Balance columns opposite the adjusting entry.
Wahler Corporation manufactures and sells one product. In the company's forst year of operations, the variable costs consisted soley of direct materials of $80 per unit. the annual fixed costs were $640,000 of administrative expense. The company does..
NoFly Corporation sells three different models of a mosquito “zapper.” Model A12 sells for $60 and has variable costs of $36. Model B22 sells for $102 and has variable costs of $71. Model C124 sells for $421 and has variable costs of $317. The sales ..
Walters and Witt, a law firm, is analyzing the profitability of its cases. During the year, the firm represented the Umberg Company in numerous routine legal issues, for which it charged a monthly retainer fee of $2,500. Budget information for the fi..
Briefly define:- • the interest rate, • reserves, and • the required reserve ratio.
Dawson Company produces and sells 80,000 boxes of specialty foods each year.The company has computed the following annual cost. Suppose Dawson has a surplus capacity to produce 8,000 more boxes. What will be the effect on Dawson's income if it accept..
Decision making as to process further or sale out - Should MSB and CBL be processed further or sold immediately after initial milling
What is the time value of money (TVM)? Why is this concept important in accounting? Under what circumstances might we use TVM calculations?
Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order.
Calculate the degree of operating leverage given the following information: sales of $25,000; variable costs $13,000 and operating income of $7,000 for year one, and sales of $40,000; variable costs of $15,000; and operating income of $16,000 for yea..
Compute net tax payable or refund due for Alice and Bruce Byrd for 2014.- . If they have overpaid, they want the amount to be refunded to them.
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