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Ernie has shopped for machines and found that the machine he wants will cost $131,000. In addition, Ernie estimates that the new machine will increase the company's annual net cash inflows by $21,200. The machine will have a 12-year useful life and no salvage value. Instructions (a) Calculate the cash payback period. (b) Calculate the machine's internal rate of return. (c) Calculate the machine's net present value using a discount rate of 10%.
santo Company budgeted selling expenses of $30000 in January, $37000 in February, and $45000 in March. Actual Selling expenses were $31000 in January, $35500 in February and $53000 in March.
On September 1, Howe Office Supply had an inventory of 30 pocket calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Meese Paper Distributors, Inc. has before-tax earnings of $1,900,000. Using the corporate tax table found in the text, calculate the amount of the total tax liability for Meese.
If you had been an analyst evaluating Bethlehem's 2001 third-quarter 10-Q, explain whether or not you would have downgraded Bethlehem's stock.
Define the term business combination and differentiate across various forms of business combinations. Describe when consolidation of financial information into a single set of statements is necessary.
Bodin Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are plannned for the year 20x1. One units of raw material are required to produce each unit of finished product.
Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a $700 uncollectible account receivable.
Ridge Point Company's budgeted sales were 22,500 units at $76 per unit. Actual sales were 21,750 units at $79 per unit. What was Oaks Edge sales price variance?
On August 1, 2007, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each February 1 and August 1.
On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.
Robert assumes the liability on the property. Robert's basis in his Texas Corporation stock is $100,000. What is the amount of gain or loss recognized by Robert on the distribution?
Periodically reconciling the physical counts of inventory to total counts reflected in accounting records by using someone who does not handle inventory or record purchases is considered to be:
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