Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
MacGiver Brass is a brass plating firm with sales of $8 million and profits before taxes of $625,000. MacGiver has a loan outstanding at its local bank for working capital purposes. As the loan officer reviewing MacGiver's loan application, you are charged with making a recommendation as to whether the $608,000 loan should be renewed for another year. Upon reviewing MacGiver's most recent annual report, you find the following footnote: Under-absorbed overhead of $462,000 was prorated to inventories (2/3) and cost of goods sold (1/3). Required: a. How should you evaluate MacGiver's annual report in light of this footnote? In particular, how does this footnote affect your recommendation regarding the loan? b. In preparing for your meeting with MacGiver's president and chief financial officer, what questions do you want to ask regarding this footnote?
The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $20,000 and a loan balance of $40,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year.
The firm will use straight-line depreciation for the new machine over 10 years with no residual value. What is the payback period for the new machine?
One idea that the consultant had was to reduce prices to bring in more customers. If average prices were reduced ten percent (10%), and the number of sales tickets (unit sales) increased to 7,500, would the company's income be increased? With prices ..
The additional amount serves as security for damages to the property and the tenant's failure to pay future rents. How should the payments be characterized (e.g. on lease documents) to minimize Rachel's current tax liability?
What are some examples of Toll Brothers' direct material, direct labor and overhead costs that they would incur in building their homes?
gray stone and lawson open an accounting practice on january 1 2011 in san diegocalifornia to be operated as a
Prepare the related consolidated journal entries if 30% of the goodwill is to be written off as impairment loss?
Do an Internet search to identify the types of games and business simulations that are available. Select one and provide a description and an analysis of it. Discuss the learning content objectives.
We have two possible ways that Edwina could purchase her car; she could pay for it outright from her savings. Or, she could get a loan to pay for the car. What are the benefits of purchasing the car outright include or getting a loan? Is there ano..
the partnership had net taxable income of $10,000; Michelle received a distribution of $8,000 cash from the partnership; and she had a 50% share in the $16,000 of partnership recourse liabilities on the last day of the partnership year. Michelle's..
What is the basis for deciding whether to use the spot rate or some other exchange rate when converting a foreign subsidiary's trial balance accounts into U.S. dollars under the temporal method?
From the lessee's viewpoint, what kind of lease is the above agreement? From the lessor's viewpoint, what kind of lease is the above agreement?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd