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The City of Medina Park operates a plumbing and electrical maintenance department, responsible for maintaining all water and electric service functions in buildings owned by the city. The city administration is concerned about the rising costs of the maintenance department, which is currently organized as a cost center. Charlotte Daugherty, the manager of the maintenance department, says that many of the department's service calls are strictly nuisance calls. She cites examples of numerous calls for defective electrical outlets, which turn out to be unplugged equipment, burned-out light bulbs (which can easily be changed by the users), and drains clogged by coffee grounds. In Charlotte's opinion, these nuisance calls would be avoided if the departments using her department's services were "billed". Essentially, Charlotte suggests that there be a transfer price related to using her department's services and that the price should approximate the cost of these services in the market ($50 - $65 per hour of service time). This would turn her operation into a profit center, and , she believes, her department would operate more efficiently because demand for services would decline and she would need fewer employees.
Evaluate Charlotte's proposal. Do you support use of a transfer price for maintenance services? If so, should the price approximate the market price of service or should it be based on cost?
Which suppliers of funds bear the greatest risk and should therefore earn the greatest return? bondholders, suppliers, banks, preferred shareholder, or common shareholder?
The enacted tax rate increased to 30 percent in Year 2 compared to an enacted rate of 20 percent in the prior year. At December 31, Year 2, the company would record a deferred tax expense of ?
Explain and justify the difference between the treatment of estimated uncollectible taxes in fund accounting and the treatment of estimated bad debts in commercial accounting.
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..
Prepare a performance report for Ranger Company for the year.
1. Compute the cost of goods purchased and the cost of goods sold 2. Prepare the income statement for 2011
P Company continued to depreciate the equipment over its 9 year remaining life using the straight-line method. This equipment was sold to a third party on January 1, 2011 for $1,440,000. What amount of gain should P Company record on its books in ..
could you please describes the courses of action the ima recommends in resolving ethical conflict? other than what is
Given the facts presented, discuss the various factors that affect the reli- ability of (1) the comparable uncontrolled price method, (2) the resale price method, and (3) the cost-plus method.
Elk, a C corporation, has $500,000 operating income and $350,000 operating expenses during the year. In addition, Elk has a $20,000 long-term capital gain and a $52,000 short-term capital loss. Elk's taxable income is:
A. Describe the matters to consider within your firm and other procedures that must be undertaken before accepting the appointment as auditors to Talk Ltd. B. Explain the purpose of an engagement letter and list its contents.
The machine has an expected life of 5 years and a zero residual value. Select the best response from those below regarding depreciation for this asset.
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