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Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7:
Net sales
$1,750,000
Interest expense
120,000
Income tax expense
80,000
Preferred dividends
25,000
Net income
130,000
Average assets
1,200,000
Average common stockholders' equity
500,000
Compute the profit margin on sales ratio, the return on equity and the return on assets, rounding calculations to two decimal places.
Does the firm have positive or negative financial leverage? Briefly explain.
Critique the benefits and drawbacks of proprietorships and partnerships as a form of business organization.
What are the combined total department costs for the producing departments after allocating the service department costs?
Determine the EOQ before and after the change in the cash discount policy. Translate this into average inventory (in units and dollars) before and after the change in the cash discount policy.
Silva Corporation reported net sales of $240,000, $420,000, and $540,000 in the years 2007, 2008, and 2009 respectively. If 2007 is the base year, what is the trend percentage for 2009?
What are the common errors and frauds in the personnel and payroll cycle? Which control characteristic are auditors looking for to prevent or detect these errors and frauds?
What are the costs and benefits to Apple from disclosing this information? What issues does this change raise for the auditor? What additional tests would you want to conduct as Apple's auditor?
At that time, it was estimated that the dining room set could be sold for $2,400 as repossessed, or for $3,000 if the company spent $300 reconditioning it. The gross profit rate on this sale was 70%. The gain or loss on repossession was a
The Tyson Company has provided the following information: Using the high-low method, calculate the total fixed factory overhead cost and the variable factory overhead cost per direct labor hour.
Explain how the lack of an ongoing accounts payable system will affect the auditor tests for the purchases and payables cycle. Your answer should also identify assertions and account balances affected.
Using the general rule calculates Martin's taxable income for 2011 from the retirement plan and distributions
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expense. How much, if any, of that interest is deductible on Schedule A?
Use the indirect method of reporting cash flows from operating activites. Assume that equipment costing $125000 was purchased for cash and equipment costing $85000 with accumulated depreciation of $65000 was sold for $15000; that the stock was iss..
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