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Gina Matheson owns and operates a successful florist shop in Bloomington, Indiana. Gina estimates that her variable costs are $0.25 per sales dollar (i.e. variable costs represent 25% of revenue) and that her fixed costs amount to $6,000 per month.
a. How does Gina's monthly profit increase as revenue increases? (Note: given that absence of unit-level data, you will need to express Gina's monthly profit in terms of revenue).
b. How much revenue does Gina need to generate each month to break even?
c. How much profit would Gina earn if her revenues were $10,000 per month?
The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is:
On April 1, Quality Corporation, a U.S. company, expects to sell merchandise to a French customer in three months, denominating the transaction in euros. On April 1, the spot rate is $1.41 per euro.
Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 15 percent.
Make the journal entries to record the above three securities purchases. Make the journal entry for the security sale on May 20. Compute the unrealized gains or losses and prepare the adjusting entry for Arantxa on December 31, 2008.
Jack Hammer invests in a stock that will pay dividends of $2.00 at the end of the first year; $2.20 at the end of the second year; and $2.40 at the end of the third year.
The manufacturing manager of New Technology Company is concerned about the company's newest plant. When the plant began operations three years ago, it had the best of everything. What is the nature of the plant's problems?
The actual return on plan assets was $1 million although it was expected to be $6 million. On average, employees' remaining service life with the company is 18 years.
Assuming that Little uses the straight-line method of amortization and that the bonds are appropriately classified as available-for-sale, what would the net carrying value of the bonds be shown as on Little's December 31, 2007, balance sheet?
The auditors compare information on canceled checks with information contained in the cash disbursement journal. The objective of this test is to determine that:
In your own words, explain what the advantage is of analyzing a company's financial statements over a series of years rather than just for the current period?
You are the owner of a bakery that makes a complete line of specialty of breads, pastries, cakes and pies for the retail and wholesale markets.
Based on the article, your review of the firm and anything else you want to bring in (e.g., comparisons with other firms); how did the firm do? How did this compare to previous periods and to expectations? If you had the money to invest, would thi..
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