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Faruga Company had FUTA taxable payrolls for the four quarters of 2015 of $28,400; $19,600; $16,500; and $8,900, respectively. The company was located in a state that was subject to a FUTA credit reduction of 0.3%. What was the amount of Faruga’s first required deposit of FUTA taxes? Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Find the present value of an investment in equipment if it is expected to provide annual savings of $50,000 for 10 years and to have value of $125,000 at the end of that period. Assume an interest rate of 9% and that savings are realized at year end.
CC uses absorption (full) costing and its direct competitor, FF uses variable costing for internal decision making purposes. Last year, both companies reported the same production and sales volumes.
Was the note issued at a discount or a premium?What is the fair market value of the land at the date of exchange?What is the gain or loss on the sale of the land?
Explain in your own words, using a diagram if you wish, the concept of an indirect non-controlling interest.Does the existence of an indirect non-controlling interest have any impact on the adjustments for intra-group transactions?Why or why not?
A company paid $500,000 for 12% bonds with a par value of $500,000. The bonds pay 6% interest semiannually on September 1 and March. Prepare the general journal entry to record the first interest payment on June 30, 2009.
fitzgerald company wrote checks adding 17080 during october and 18650 through november. 16240 of these checks cleared
Prepare any necessary journal entries to record the cost of the cooler. Prepare the adjusting entry to record 2009 depreciation expense on the new cooler.
On January 1, Year One, a company starts a defined contribution pension plan. The contract with the employees requires the company to convey to a trustee $10,000 each year for every current employee who has been working for the company one year or mo..
One of the major goals of the Sweet cake Restaurant is customer satisfaction. In the light of this goal, match the internal business processes perspective with the appropriate target:
During 2016, Bobby Brady rented his vacation home for 75 days and stayed in his vacation home for 25 days. Gross rental income fromt he property was $8200. compute: Bobby's net rental income or loss, showing all calculations (his realized amount) 2) ..
The Tijama Manufacturing Company has determined the cost of manufacturing a unit of product to be as follows, based on normal production of 50,000 units per year: Direct materials $20.00 Direct labor 15.00 Variable factory overhead 10.00 $45.00 Fixed..
Huxtable charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Tiffany charges manufacturing overhead to products by using a pred..
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