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Honest Donald's Auto Dealer purchase used cars at auto auctions and sells them retail. The auto, on average, sell for approximately $17,500 each and cost Donald $11,500. The costs that the company incurs in atypical month are listed below: SELLING: advertising ($2,400 per month), preparation of auto for delivery ($250 per auto sold, salaries & commissions ($4,200 per month, plus 8% of sales), utilities ($3,500 per month), depreciation on sales facility ($4,200 per month). ADMINISTRATIVE: executive salaries ($13,000 per month), depreciation on office equipment ($2,000 per month), clerical ($3,000 per month), insurance ($1,200 per month). During July Honest Doanld's sold 50 autos. Prepare a traditional income statement for July. Prepare a contribution format income statement for July. Show costs and revenues on both a total and per unit basis down through contribution margin.
Prepare a chronological list of the investment's cash flows and compute the investment's net present value, rounding calculations to the nearest dollar.
List out three of the other factors that could constitute evidence of the ability to exercise significant influence.
What is meant by the forensic-type fieldwork phase of an audit? An AICPA Fraud Task Force suggests that if a forensic accountant is brought into an audit to conduct a separate investigation (and not an adjunct to an audit), what standards apply?
Compute cost of goods manufactured and cost of goods sold - Flow of costs through a manufacturers inventory account
Cole Company sells 10% bonds having a maturity value of $3,000,000 for $2,783,724. The bonds are dated January 1, 2012, and mature January 1, 2017. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortiza..
I have 200 maintenance service outlets, we provide two lines of service: oil chnage, and brake repair. Our oil change related services present 70% of its sale and provide a contribution margin ratio of 20%. Brake repair represent 30% of its sales and..
Calculate the increase or decrease in profits for the three divisions and the company as a whole (four separate computations) if the agreement is enforced.
Prepare a cash budget for each of the six months to 31 December 2009, showing the cash balance at the end of each month - Describe the objectives of budgetary planning and control systems.
at the end of its reporting year 31st december 2010 acme inc. shows the subsequent intangible assets on its books 60000
What is the article or the research about - What topic, theory or concepts in Accounting Theory does the article relate to?
The following information was provided by a client to you regarding Activity Based Costing (ABC). The client is very happy that you have just taken ACCT& 203 at TCC and that you have a thorough understanding of ABC Costing. Check ALL that apply below..
question1 the project is based upon you finishing the bellwether garden supply bgs. this project will need to you to
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