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Find the accumulated amount A if the principal P = $2,000 is invested at the interest rate of r = 6% per year for t = 6 years, compounded annually.
A) The accumulated amount is $3,508.28.
B) The accumulated amount is $3,194.16.
C) The accumulated amount is $2,837.04.
D) The accumulated amount is $2,708.89.
The assets were so specialized that there was not an objective basis to determine a fair value. In cases like this, the FASB suggest that company record the asset at:
Rooney Inc. recently completed a 3-for-2 stock split. Prior to the split, its stock price was $90 per share. The firm's total market value was unchanged by the split.
Molly, a CPA in public practice is on the board of directors of a local bank. One of Molly's clients has a $100,000 ninety day loan from the bank. Molly, while preparing the clients tax return finds that the client's revenues from their business i..
If the costs for direct materials, direct labor, and factory overhead were $522,200, $82,700, and $45,300, respectively, for 16,000 equivalent units of production, the conversion cost per equivalent unit was $8.00.
Explain the difference between the cash basis and accrual basis of accounting. Explain the difference between the cash basis and accrual basis of accounting?
Scudder company has two operating departments: mixing and forming. Mixing has 240 employees and occupies 22,000 ft². Forming has 80 employees and occupies 18,000 ft².
Assume variable manufacturing overhead is allocated using machine-hours. Give three possible reasons for a favorable overhead efficiency variance. Which reason is most persuasive? Why?
The old used truck cost $4,800 and on March 31, the end of the quarter, had depreciated $3,180 straight-line depreciation on the old truck is $80 per month. The new truck listed for $ 18,950 and wumbaugh Auto Sales allowed a $2,825 trade-in allowa..
A company has bonds outstanding with a par value of $400,000. The unamortized premium on these bonds is $2,000. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement?
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?
On the date of purchase, the patent had an estimated useful life of eleven years. It currently has a remaining useful life of four years. The current fair value of the patent is $43,000. Company management estimates that the patent will generate f..
What are some examples of Toll Brothers' direct material, direct labor and overhead costs that they would incur in building their homes?
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