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1. During its first year of operations, Master Plumbing Supply Co. had net sales of $3,500,000, wrote off $50,000 of accounts as uncollectible using the direct write-off method, and reported net income of $390,500. Determine what the net income would have been if the allowance method had been used, and the company estimated that 13⁄4% of net sales would be uncollectible.
Mr. Sullivan is borrowing $2,000,000 to expand his business. The loan will be for ten years at 12% annual interest and will be repaid in equal quarterly installments. How much will each quarterly payment be?
fireout inc. manufactures steel cylinders and nozzles for two models of fire extinguishers 1 a home fire extinguisher
marilyn a business executive who lives and works in cleveland accepts a temporary out-of-town assignment in atlanta for
In January of 2007, Kerr successfully defends the patent at a cost of $81,000, extending the patent's life to 12/31/18. What amount of amortization expense would Kerr record in 2007?
Identify three accounting factors that will drive a firm's price-earnings ratio in a given period to be higher than that of other firms in the same industry.
there is a retail store selling dvds. this business is relatively simple with approximately the same contribution
joplin laminating corporation reported income before income taxes during the first three quarters and managements
10. Marci has two jobs and both employers withheld FICA tax. From her first job, she earned $98,600 and from her second job she earned $18,700. How much can Marci claim on her Form 1040 as excess social security tax paid in 2013?
if a company needs 50000 5 years from now how much would need to be deposited today using a required rate of return of
What survey objectives would ACT have in asking colleges how they use its essay test? What objectives would Kaplan have for its survey research?
Paulsen Company sells 100,000 units for $15 a unit. Fixed costs are $350,000 and net income is $250,000. What should be reported as variable expenses in the CVP income statement?
the phelps company applies overhead costs to products on the basis of standard direct labor-hours. the standard cost
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