On November 1, 2013, Athom Corporation purchased 5,000 television sets for its merchandise inventory from Sockk, a South Korean firm, at a total quoted cost of 600,000,000 won (W). Prepare all the journal entries for Athom Corporation's General Journ..
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On January1, 2008, Pope Company acquired 100% of the common stock of Siegel Company for $300,000. On this date Siegel had total owner's equity of $250,000. Any excess of cost over book value is attributable to goodwill. Pope accounts for its investme..
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Sparrow, Inc. used the high-low method to estimate that its fixed costs are $300,015. At its low level of activity, 101,700 units, average cost was $3.50 per unit. What would Sparrow predict as its variable cost per unit?
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Due to the recent beef recall, southern steakhouse is considering incorporating. Bill, the owner wants to protect his personal assets in the event the restaurant is sued. Which advantage of incorporating is most applicable?
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Which department listed below would most likely be responsible for a "direct material price variance"? Return on investment and revenue growth would be examples of:
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Wallowa Company is considering a long-term investment project called ZIP. ZIP will require an investment of $121,080. It will have a useful life of 4 years and no salvage value. Annual revenues would increase by $79,460, and annual expenses (excludin..
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Federal Semiconductors issued 13% bonds, dated January 1, with a face amount of $690 million on January 1, 2016. The bonds sold for $644,005,394 and mature on December 31, 2035 (20 years). For bonds of similar risk and maturity the market yield was 1..
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Harbor Freight plans inventory levels (at cost) at the end of each month as follows: May: $271,000, June: $226,000, July: $209,000, and August: $241,000. Sales are expected to be June: $449,000, Prepare budget schedules for June, July, and August for..
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Calculations for statement of cash flows.?During 2015 equipment was sold for $73,000. This equipment cost $120,000 and had a book value of $72,000. Accumulated depreciation for equipment was $325,000 at 12/31/14 and $310,000 at 12/31/15.?
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Prepare a segmented income statement in the contribution format for the company. Omit percentages; show dollar amounts.
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During the current year, Gomez Company had sales revenue of $100,000,
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Ms. Takase is the sole shareholder of Takase Ltd. She owns 2,500 shares with a PUC and adjusted cost base of $400,000, and a fair market value of $1,000,000. Ms. Takase will report a capital gain of $600,000 as a result of her deemed disposition. Th..
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