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The following account balances were drawn from the financial records of Crystal Company (CC) as of January 1, 2014. Assets, $12,000 (all in cash); Liabilities, $3,600; Common Stock, $6,200; and Retained Earnings, $2,200. CC has agreed to pay the creditors $360 of interest per year. Further, CC agrees that for the 2014 fiscal year any annual earnings remaining after the interest charges will be paid out as dividends to the owners.
a. Assuming CC earns a before interest expense recognition profit of $820 during 2014, determine the amount of interest and dividends paid.
amount of interest
dividens paid
The parnters of Trebbi and Schertzer a security services firm, decide to implement an activity-based costing system. Compute the budgeted overhead rate for each of the three cost pools.
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If Mowen Company offers to buy the special order units at $65 per unit, the effect of accepting the special order on Melville's operating income next year should be a what?
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Use the accounting equation to solve for the missing information for Paid In Capital at 12/31/16 (don’t bother entering cents, just round to the nearest dollar):
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