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Mr. James runs a retail shop. Calculate the net income or net loss in reference to the following transactions that occurred during the month of January. Solve this problem using an electronic spreadsheet.
Sale of Goods $70,000Materials Used $30,000Wages Paid $10,000Other Expenses $5,000
Fortunately, there will be no additional operating expenses associated with the order and Tram has sufficient capacity to handle the order. How much will operate profits be increased if Tram accepts the special order?
Alan, Baker and Crowe formed Dexter Corporation during 2011. Pursuant to the incorporation agreement, Alan transferred property with an adjusted basis of $30,000 and a fair market value of $45,000 for 450 shares of stock.
If 15,000 units of the new product could be sold at $16.00 per unit, and the company's other business did not change, calculate the company's total operating income and average contribution margin ratio. (The new product adds an additional $37,800..
It is estimated that $38,400 of these fixed expenses could be eliminated if the department is discontinued. These data indicate that if the department is discontinued, the company's overall net operating income would:
Hans purchased a new passenger automobile on August 17, 2009, for $40,000. During the year the car was used 40% for business and 60% for personal use. Determine his cost recovery deduction for the car for 2009.
Banks have receivables that are the result of investing activities rather than sale or trade. We call these signed documents notes receivable.
A company established a petty cash fund of $100 on September 1. On September 15, the petty cash fund was increased to $125 in total. Record the above transactions in general journal form.
Sage, Inc., a closely held corporation that is not a PSC, has a $140,000 passive loss, $85,000 of active business income, and $35,000 of portfolio income. How much of the passive loss can Sage deduct?
The company has 40,000 machine hours available for production. What sales mix will maximize profits?
Write an analysis about test of liquidity that compare Best buy to Radio Shack and Conn's.
In 2011 a company report earning per share of $10.00 when its stock was selling for $220. In 2012, its earning increased by 14%. If all the relationship remains constant, what is the price of stock for 2012?
Rumpole Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $100,000. The budgeted number of nozzles to be inserted is 25,000. What is the budgeted indirect cost allocation rate for this activ..
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