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Flexible overhead budgets are based on activity measures such as machine hours or direct-labor hours. Give one example of a plausible activity base to use in flexible budgeting for each of the following: an insurance company, an express delivery service, and a restaurant.
Martha begins the business on July 1 of the current year. If Marth elects \SS195 trearment, determine her startup expenditure deduction for the current year.
Compute the return on assets, profit margin and asset utilization rate for your company and its competitor and assess your company's competitive financial position - Compute the free cash flow for your company and its competitor.
Evaluate the ethical implications of Acme's “deferral” of income taxes and who could be harmed by Acme's ability to “defer” income taxes payable for several years, despite positive earnings.
Explain how the double-declining-balance method is computed. Provide an example of how this method could be used on the new delivery truck purchased for $300,000 to be used for 4 years with a salvage value of $5,000 for year one only.
Why should ethical issues be considered in making business decisions? How (provide example) is the accounting profession held to a different standard?
Alternatively, Bartel can process the units further at an incremental cost of $36 per unit. If Bartel processes further, the units can be sold for $100 each. Compute the incremental income if Bartel processes further.
Cornick, Inc. sells office products to businesses in the eastern region of the United States. Each month, the IT division at Cornick prints monthly statements and sends them to the accounts receivable (AR) department, where a clerk e-mails them to th..
What discount (interest rate) factor did you use to discount future dollars to today's dollars and why? There is no right or wrong answer and even actuaries have to adjust their numbers annually at times.
Roley paid freight costs of $1,200. On July 3, Roley returned damaged goods and received credit of $6,000. On July 10, Roley paid for the goods. Prepare all necessary journal entries for Roley.
Cost of Merchandise Sold - Based on the subsequent data, determine the cost of merchandise sold for March:
Flip Company's December 31, 2014 trial balance is as follows: Flip Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500 Accounts Receivable 54,500 Allowance for Doubtful Accounts 500 Notes Receivable 30,000 Merchandise Invent..
Compute Arrow's direct material variances and compute Arrow's direct labor variances.
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