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Marsdon Company has an annual production capacity of 15,000 units. The costs associated with production and sale of the company's product are given below:
The company presently is selling 12,000 units annually at a selling price of $28 each. A special order has been received from a distributor who wants to purchase 3,000 units at a special price of $20 each. Regular sales would not be affected by this order and the order could be filled without any impact on total fixed costs. Sales commissions on the special order would be reduced by one-third.
Required:
Determine whether the company should accept the special order.
Analyze each transaction by identifying the account or accounts to be debited and credited and prepare a journal entry for each in the proper format.
Janie graduates from high school in 2012 and enrolls in college in the fall. her parents pay $4,000 for her tutiion and fees and assuming janie's parents have agi of 170,000, what is the american opportunity credit they can claim for janie?
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The January 1 inventory of supplies in an Internal Service Fund is $9,000. The fund purchases $23,000 of supplies during the year. The December 31 inventory of supplies is $6,000. If the pricing objective of the fund is to be achieved, what dollar..
The company also declared and paid a 10% stock dividend on its common shares. When the stock dividend was declared, 1 million common shares were outstanding, and the market price of common stock was $135 per share.
Leah, Inc. has machinery with a cost of $100,000. The machinery has an estimated useful life of 10 years, and an estimated salvage value of $10,000. The machinery is expected to be able to produce a total of 1,000,000 units during its estimated li..
What are some of the differences between variable and full costing? What impact do these differences have on income?
Frozen Delight, Inc. charges an initial franchise fee of $75,000 for the right to operate as a franchisee of Frozen Delight. Of this amount, $25,000 is collected immediately.
Prepare the appropriate journal entries on January 1 for the issuance of the bonds and on December 31 for the first interest payment assuming straight-line amortization.
Which type of business organization will meet Desean's needs best and why? Discuss possible issues and/or limitations Desean may encounter as a result of choosing this business organization compared with others.
The following information has been obtained for the Kerdyk Corporation. Compute taxable income and income tax payable for 2007.
Evaluate the GASB's views regarding how the total pension liability should be measured and whether or not you support these views? Explain your rationale.
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