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General Product, Inc. shipped 100 million coupons in products it sold in 2011. The coupons are redemable for thirty cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2012. There were 45 million coupons redeemed in 2011, and 30 million redeemed in 2012.
What was General's coupon promotion expense in 2011?
a. $7.5 million
b. $30.0 million
c. $13.5 million
d. $21.0 million
Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.
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Oatly is concerned about the collectability of outstanding loan and whether the trucks still exist. He thus engages Susan Virms, CPA, to count the trucks, using registration information held by Oatly.
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What do you think about this thought process? How could you convince someone that they should deduct their charitable contributions?
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Philly Corp's stock recently paid a dividend of $2 per share (Do = $2), and the stock is in equilibrium. The company has a constant growth rate of 5% and a beta of 1.5. The required rate of return on the market is 15%
An apartment house was purchased on July 8 of last year, by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $7,902.
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