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Fred Carson delivers parts for several local auto parts stores. He charges clients $0.75 per mile driven. Fred has determined that if he drives 2,000 miles in a month, his average operating cost is $0.55 per mile. If he drives 4,000 miles in a month, his average operating cost is $0.40 per mile. Fred has used the high-low method to determine that his monthly cost equation is: Total Cost = $600 + $0.25 per Mile. 1. Determine how many miles Fred needs to drive to break even. (Round intermediate calculations to 2 decimal places.) Break-even units:_______miles
impossibilities inc. is considering the following investment. for financial reporting purposed the entire initial
maintenance expense was 200 but it had been prepaid in january for the quarter. how do i record the transaction in
Increase in prepaid insurance expense, an asset, decreasing both net income and retained earnings by $6,000 and decrease in cash of $6,000.
on august 1 matrix stores inc. is considering leasing a building and purchasing the necessary equipment to operate a
what is an example of a significant accounting estimate? what is the importance of these estimates? how do ethics play
willkom corporation bought 100 percent of szabo inc. on january 1 2009 at a price in excess of the subsidiarys fair
Prepare the journal entries for the original purchase, dividend and sale.
henkel corporation is considering two long-term capital investment proposals. relevant data on each project are as
Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values an..
1. haywood company sells a single product with a contribution margin of 5 per unit fixed costs of 74400 and sales for
Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?
Prepare an amortization schedule for the following loan, for the first three months of the loan: $20,000 car loan, payments are $444.89 for 5 years, payable monthly at 12%. What are the total principal and interest payments for the 5 year loan?
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