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Find two annual reports from competing publicly traded companies of your choice. Prepare an overview of the two companies including a brief synopsis of the industry the companies are in, the market share each company holds, and the length of time each company has been in business.
High & Dry’s standard price for direct materials is $3.60 per unit-The actual purchase price per unit was
Chester Lome drills well for residential and commercial lots. In April 2008. Chester decided to scrap his well drilling truck, purchased in 1984 for $25,000 and fully depreciated. Prepare the journal entry recording the scrapping of the truck.
Juanita, who is single, is in an automobile accident in 2012 and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Juanita does not expect to recover any of the loss from her insurance company.
Dr. Mark Skousen, in his article, "Raising Cain: Why the 9-9-9- Tax Plan is a Dangerous Policy", states that Republican Herman Cain has gotten quite a bit of publicity about his new 9-9-9 tax plan.
In 2013, it is determined that the total estimated life should be 10 years with a salvage value of $5,490 at the end of that time. Assume straight-line depreciation.
What type of tax rate structure does the U.S. tax system apply? What are the individual tax forms, and what factors are used to determine which one to use? What is taxable income, and how is it determined?
Presented below are 3 unrelated situations involving equity securities: What is the effect upon carrying value and earnings for each of the situations above?
Compute the sales level that would generate a 20% return on investment. Supposing the rate of return is 15%, determine the level of sales that would generate $200,000 of residual income.
Williamson Group operates a chain of bookstores. A recent business expansion plan resulted in the opening of more than 25 new stores. The Upland store has one more feature that the Stowe store does not have-a small coffe shop.
Three years ago a piece of machine was purchased for $10,000. Assuming an eight-year life and straight-line depreciation, financial statements for the third year will show:
Fiduciary funds are accounted for differently than permanent funds, even though both may account for nonexpendable resources.
Distinguish between a debt security and an equity security.
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