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Write a formula reflecting the price estimate for a house based on the number of square feet that need to be painted. Assume that John can accurately estimate the painted area (in square feet) and the amount of time it takes to complete the prep-work on a job.
Please allocate the costs and advise, what is the taxable income for year 1 and 2, noting there are no other expenses outside the allocation of costs.
Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?
In the current year, Spring Corporation, a closely held personal service corporation, has $120,000 of passive losses, $70,000 of active business income, and $50,000 of portfolio income. How much of the passive loss may Spring deduct in the current..
Poster mistakenly accounted for the investment in Elliott using the cost method rather than the equity method of accounting. What effect would this have on the investment account and net income, respectively?
Prepare the journal entry (or entries) for the issuance of the bonds and warrants for the cash consideration received.
If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn't keep any significant inventories of the specialized assets that he sells.
Describe employer responsibilities for reporting payroll taxes.(To the extent possible reference the form to be filed for each tax.)
List three weaknesses in the existing system of internal control. For each weakness, state the risk to the company if the control is not improved, and recommend improvements. Format your answer as follows: (9 marks) Weakness Risk Recommended improvem..
How does an audit performed using CobiT methodology differ from an audit that doesn't?
If the machine has no salvage value at the end of seven years, and assuming the company's discount rate is 10%, what is the purchase price of the machine if the net present value of the investment is $170,000?
Carolina Mills purchased $270,000 in supplies this year. The supplies account increased by $10,000 during the year to an ending balance of $66,000. What was supplies expense for Carolina Mills during the year?
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