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Rex, age 45, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2011:
Hospitalization insurance premiums for Rex and his dependents. The cost of the coverage for Rex is $2,700 per year, and the additional cost for his dependants is $3,600 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Rex' s HAS. Rex withdrew only $800 from the HAS, and the account earned $50 interest during the year.
Determine the amount Rex must include in gross income.
Using the retail method (this method estimates lower-of-average-cost-and-market), compute the ending inventory at cost as of January 31, 2005. Make sure your answer is in good form with clearly labelled amounts.
Interest computed on the average accumulated expenditures for the warehouse construction was $50,000. What amount of interest should Liddy expense for the year?
Ethical Code in cost & Management Accounting, CIMA has provided the following as elements of code of conduct to be followed by cost and management accounts. Define and explain them in relation to cost and Management Accounting.
Luke Company has an inventory conversion period of 60 days a receivables conversion period of 45 days, and a payments cycle of 30 days. What is the length of the firm's cash conversion cycle?
What are the combined total department costs for the producing departments after allocating the service department costs?
Mutual Funds What is the function of a mutual fund? Why are mutual funds popular among investors? How does a money market mutual fund differ from a stock or bond mutual fund?
Similarities between manufacturing, non-manufacturing, serviced based businesses and not for profit organizations are.
What are some inferences of possible interest to a stockbroker? How would the reliability of the inferences be assessed?
The amount of overhead cost that the company applied to work in process for October was:
Do you think favorable variances should be investigated? Why or why not?
You read in the wall street journal that 30 day US treasury bills are currently yielding 8%. your brother in law, a broker, a broker at Kyoto Securities, has given you the following estimates of current interest rate premiums:
Much has been written about accounting the accounting fraud and subsequent bankrupt of world com. The baltimore sun reported that "the fraud was brazen and easy to spot.
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