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Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy. Separate shares are not required. For the current year, it has DNI and net accounting income of $80,000, all from taxable sources. It distributes $60,000 to Roy and $40,000 to Sandy. How much gross income should each beneficiary report?
Calculate the predetermined overhead rate using direct labor costs as the allocation base. Calculate the predetermined overhead rate using machine hours as the allocation base. Which of the allocation bases is preferred? Why?
Prepare the journal entry for Sorter Company to write off the Ordonez receivable. When writing the journal entry use Dr. for debit and Cr. for credit.
The Eastern Division sells goods internally to the western division of the same company. The quoted external price in industry publications from a supplier near Eastern is $200 per ton plus transportation.
In deciding whether or not to accept a special order, what is the opportunity cost of using machinery for which the firm has sufficient excess capacity to accept the order?
Let's say that a company produces a single product with a sale price of $25 per unit. The variable cost per unit is $15 and the company incurs fixed costs of $50,000 per month. What is the breakeven point for this company in units and sales dollar..
Paris Company buys a building on a plot of land for $100,000, paying $20,000 cash and signing a 20-year mortgage note for $80,000 at 6%. Monthly payments are $570. The first monthly payment was made in January, 2013. After the first payment, what ..
Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?
How much gain or loss must barry recognize, and how is it characterized. Account receivable fmv 90,000 three partners.
In 2010, Wild Corporation reported a net loss of $70,000. Wild's only net income adjustments were depreciation expense $81,000, and increase in accounts receivable $8,100. Compute Wild's net cash provided (used) by operating activities.
Would outsourcing the payroll function increase or decrease Duck Associates' operating income? how should each of the factors affect Tan's decision if she wants to do what is best for Duck Associates and act ethically?
Using the percentage of net sales method. uncollectible accounts expense for the year is $54000, balance of allowance for uncollectible is 18000 creedit befor adjustments what is the balance after adjustments?
Compute the budgeted profit at the expected volume of 600.000 units under both the old and the new product. Compute the budgeted break-even points under both the old and the new production
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