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Practice questions:
Insert the missing figures in the following examples.
a
b
e
d
Cost of asset
£10,000
?
£16,400
£1,500
£24,750
Scrap value
£2,000
£500
£1,400
£ l,850
Useful life
4 years
3 years
30 years
5 years
Annual depreciation charge
£3,000
£260
£2.290
the auditor must have an adequate understanding of what an internal control system is. List the five components of an internal control system and the importance of each.
Evaluate the company's liquidity relative to the industry averages and to the competitor that you chose. Evaluate the company's solvency relative to the industry averages and to the competitor that you chose
At January 1, 2014, Hennein Company had plan assets of $298,000 and a projected benefit obligation of the same amount. During 2014, service cost was $36,120, the settlement rate was 10%, actual and expected return on plan assets were $28,390, contrib..
role of the computer in graphing the scatter diagram.show the role of the computer in graphing the scatter
What percentage of total current assets is accounts receivable? Is this figure the total accounts receivable or net accounts receivable? Why or why not?
The owner is convinced that sales will increase next year by 150% and that net operating income will increase by 100%, with no increase in average operating assets. What would be the company's ROI?
Convert the short-term liabilities on the balance sheet into their daily equivalents. How many days are in McGhee's liability "cash-to-cash" cycle? What are some ways that McGhee could make the asset cash-to-cash cycle shorter?
What is the amount of the tax liability for a qualifying widow(er) with a dependent child and having taxable income of $121,600? Caroline, who files as head of household, received $9,000 of social security benefits. Her AGI before the social security..
Find Maximization of total revenue to maximize profit
What cost figure should be used as the basis for the depreciation charge for the year on the machine purchased in (1)? Show your workings and explain your answer.
The booster club sells programs for $1 each. The costs to make the programs are $60 for layout plus .20 for printing each program. If they print 400 programs, how many programs must the club sell to make at least $200 profit?
Calculate the Cost of Goods Sold for Buckler Inc. for the year ended September 30, 2015 - prepare a Multi-Step Income Statement for Buckler Inc. for the year ended Sept 30, 2015.
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