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LeCompte Corp. has $312,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $620,000, and its net income after taxes was $24,655. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would LeCompte need in order to achieve the 15% ROE, holding everything else constant?
a) 7.57%
b) 7.95%
c) 8.35%
d) 8.76%
e) 9.20%
Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2012, and December 15, 2013. Ignore interest charges. Rigsby has a December 31 year-end. In 2012, Rigsby would recognize realized..
If beginning work in process is 4,000 units, ending work in process is 2,000 units, and the units accounted for equals 10,000 units, what must units started into production be?
On November 1, Prince Vacuum Company offered special early retirement benefits to those employees who were eligible. This program was in effect until year-end. Prince should recognize a liability and an expense related to these special termination..
Assuming the Box Division has enough excess capacity to supply all of the Rolling Division's needs, which of the following is the range at which a negotiated transfer price between the two divisions should occur?
The $1,000 face value bonds issued by the Springfield Fabrication Corporation are perceived by investors as being less attractive than other bonds sold by other businesses ate the same time.
The service unit or output for this department is the number of procedures performed. A static budget was prepared at the beginning of the year. You are now tasked with examining that budget in relation to actual experience.
Evaluate earnings per share
The Red Car Division has excess capacity and the 1,000 units can be produced without interfering with the current outside sales of 5,000. The 6,000 volume is within the division's relevant operating range.
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. And whether the U.S. Federal Government should guarantee and state your rationale.
The bank statement dated May 31, 2011, showed bank service charges of $38. All checks written by the company had been processed by the ank by May 31 and were listed on the bank statement except for checks totaling $1,890.0 Prepare a bank reconcili..
Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.
Managerial accounting: a. has its primary emphasis on the future. b. is required by regulatory bodies such as the SEC. c. focuses on the organization as a whole, rather than on the organization's segments. d. Responses a, b, and c are all correct.
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