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Joe operates a plumbing business that uses the accrual method and reports on a calendar year. This year Joe signed a $50,000 binding contract with Brian. Under the contract Brian will provide Joe with up to 2,000 hours of vehicle repairs at $25/hour. This year Brian provided 200 hours of repair services and billed Joe for $5,000. At year end Joe had not paid Brian for the services. What amount, if any, can Joe deduct for the repair services this year? Explain your answer.
The department actually completed 750 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
The service unit or output for this department is the number of procedures performed. A static budget was prepared at the beginning of the year. You are now tasked with examining that budget in relation to actual experience.
explain the significance of each of the following ratios. for each of the ratios indicate whether an increase can be
Corporation has $10 par value common stock with 1000000 shares authorized, and a value of 7000000 before purchasing 3000 shares of common stock. the resulting number of common shares issued and outstanding is?
Company purchased a depreciable asset for $600,000. The estimated salvage value is $30,000, and the estimated useful life is 10,000 hours. Bigbie used the asset for 1,100 hours in the current year. The activity method will be used for depreciation..
write a 2 page apa style paper on professionals within a corporation. discuss three distinct reasons why accountants
How does a graph of a flexible budget compare to a CVP graph?
Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by nonaffiliates.
Suppose that a person won the Florida lottery and was offered a choice of two prizes: (1) $500,000 or (2) a coin-toss gamble in which he or she would get $1 million if a head were flipped and zero for a tail.
Sigma company applies overhead cost to jobs on the basis of direct labour cost. Job A,which was started and completed during the current period,shows charges of 5,000 for direct materials,8000 for direct labour,and 6,000 for overhead on its job co..
One year from the issue date (July 1, 2012), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
respond to the capstone discussion question. identify situations that might lead to unethical practices and behavior in
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