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If a division is evaluated using return on investment (ROI) without regard to how assets are financed, the denminator in the ROI calculation will be
a. current assets
b. working capital
c. total assets available
d. total assets employed
Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,562,500 and accounts receivable averaged $437,500. Half of Grunewald's customers paid on the 10th day and took discounts.
Class, the textbook describes the consolidating entries that are entered on a work sheet as S A I D E and P. What do these letters represent and what are the entries accomplishing in the consolidation.
Len Mast earned $3,900 for the last two weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's income tax? Use the percentage method.
A small business owner holds $4,000 in cash; $1,200 in materials; $10,000 in land and $32,000 in plant and equipment. His accounts payable total $9,000 and he has an outstanding bank loan totaling $18,800. what is the owners equity?
In 2004, Parrot Company sold land to its subsidiary, Tree Corporation, for $12,000. It had a book value of $10,000. In the next year, Tree sold the land for $18,000 to an unaffiliated firm. Which of the following is correct?
Prepare the entry in November for the receipt of the subscriptions. Prepare the adjusting entry at December 31, 2007, to record subscription revenue earned in December 2007. Prepare the adjusting entry at March 31, 2008, to record subscription revenu..
An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable.
If the new clerk in the accounting department insists on including the sales revenue account on the post-closing trial balance, would you agree? Why, or why not?
What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?
H2O Innovations: Identify a new capital project. Describe the project and problems you are going to have in estimating the cash flow that might be emanating from the initial investment and problems in getting it funded. Issues might be:
What is meant by variance power? Suppose that a charitable foundation receives a gift that the donor specifies must be used to support the college education of a particular individual. Of what relevance is variance power to how the foundation acco..
Variable costs as a percentage of sales for Leamon Inc. are 66%, current sales are $612,750. and fixed costs are $189,751. How much will operating income change if sales increase by $49,790?
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