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Louis Gallo owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr. Gallo to offer frozen yogurt to customers. The machine would cost $8,100 and has an ex- pected useful life of three years with no salvage value. Additional annual cash revenues and cash operating expenses associated with selling yogurt are expected to be $5,940 and $900, respectively. Alternatively, Mr. Gallo could purchase for $10,080 the equipment necessary to serve cap- puccino. That equipment has an expected useful life of four years and no salvage value. Addi- tional annual cash revenues and cash operating expenses associated with selling cappuccino are expected to be $8,280 and $2,430, respectively. Income before taxes earned by the ice cream parlor is taxed at an effective rate of 20 percent. Required a. Determine the payback period and unadjusted rate of return for each alternative. b. Indicate which investment alternative you would recommend. Explain your choice.
How does Gina's monthly profit increase as revenue increases? (Note: given that absence of unit-level data, you will need to express Gina's monthly profit in terms of revenue).
Shetland Inc. had pretax financial income of $154,000 in 2012. Included in the computation of that amount is insurance expense of $4,000 which is not deductible for tax purposes. In addition, depreciation for tax purposes exceeds accounting deprec..
Record the 2011 entries for the purchase of the machine and the lease on the books of Grande machinery and for Sunshine Engineering.
what are the possible benefits to the company of having a share election scheme? the solvency test must be satisfied by
question. the following calendar year information about the tahoma corporation is available on december 31advertising
at your first job after graduation you start working for a local cpa firm. the firms partner mentions that partnerships
Pauw's Pots is considering the production of a new line of pottery. Based on preliminary market research, management has decided that each pot should be priced at $60. Furthermore, management believes that the profit margin should be 40 percent of..
The company has a December 31 year-end. Prepare the adjusting entry at March 31, 2011, to record subscription revenue earned in the first quarter of 2011.
1. what are the symbols used for the redirection operators? explain input and output redirection.2. what is the
• How does the debit impact each account type? • How does the credit impact each account type?
Briefly explain why the owner's investment and revenues increased owner's equity, while withdrawals and expenses decreasedowner's equity.
The auditors best defense against lawsuits would be that..... a. The client was aware of the misstatments b. Client actions contributed c. Audit was conducted in accordance with GAAS. d. Identity of the plaintiff was not known
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