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Carleton Service Center just purchased an automobile hoist for $14,947. The hoist has a 5-year life and an estimated salvage value of $1,410. Installation costs were $2,830, and freight charges were $868. Carleton uses straight-line depreciation.
The new hoist will be used to replace mufflers and tires on automobiles. Carleton estimates that the new hoist will enable his mechanics to replace 4 extra mufflers per week. Each muffler sells for $78 installed. The cost of a muffler is $40, and the labor cost to install a muffler is $12.
Compute the payback period for the new hoist.
Compute the annual rate of return for the new hoist.
Select which of these is NOT an example of a financial expert.
An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?
One defect of the IRR method is that it assumes that the cash flows to be received from a project can be reinvested at the IRR itself, and that assumption is often not valid. Why do you think this is a correct statement?
Wiley Company had total revenues of $300,000 for a recent month. During the month the company incurred operating expenses of $205,000 and purchased land for $45,000. Compute the amount of Wiley's net income for the month.
Abbey Co. sold merchandise to Gomez Co. on account, $35,000, terms 2/15, net 45. The cost of the merchandise sold is $24,500. Abbey Co. issued a credit memo for $3,600 for merchandise returned that originally cost $1,700.
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.
Which of the following statements concerning the Ultramares Corp. v. Touche case is not true?
Henry transfers property with an adjusted basis of $95,000 and a FMV of $100,000 to a newly formed corporation in a Sec. 351 exchange. Henry receives stock with a FMV of $85,000 and a short-term note with a $15,000 FMV. Henry's basis in the stock ..
Spoiled Baby Corp sells baby buggies and has begun an equipment replacement project. You are required to determine the Book Value of each of its fixed assets and make decisions regarding the purchases, trades, and disposition of various assets.
This equipment replaces old equipment that was sold for $10,000 cash. Ignoring income taxes, the new equipments has a pay-back period of:
The scenario is designed to help you determine and evaluate the payment amount of a car loan and a mortgage, based on the assumption that your household income is $36,000 per year or $3,000 per month.
Generally, tax strategies operate in two time frames - now and later. " Now" refers to the twelve months of the current tax year. "Later" refers to the long-range tax strategies that benefit taxpayer future.
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