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On December 15, 2011, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2012, and December 15, 2013. Ignore interest charges. Rigsby has a December 31 year-end.
In 2012, Rigsby would recognize realized gross profit of:
a. $0.b. $450,000.c. $300,000.d. $400,000.
How do the provisions of SFAS No. 123(R) differ from the bill introduced by members of Congress (Dreier and Eshoo), which would require expensing for options issued to only the top five officers in a company? Which approach do you think would res..
Prepare the necessary journal entry to closed the overhead account if the balance is considered immaterial.
Use the Internet to conduct research related to whistleblower processes. Discuss the key characteristics for the operation of an effective corporate whistleblower hotline. Be sure to highlight potential pitfalls that should be avoided.
In a recently administered IQ test, the scores were distributed normally, with mean 100 and standard deviation 15. What portion of the test takers scored between 70 and 130?
Decide if either of these actions is warranted in your particular case and state why you think that way.
Put Company paid $220,000 for an 80% interest in Sel Company on July 1, 2011, when Sel Company had total equity of $110,000. Sel Company reported earnings of $10,000 for 2011 and declared dividends of $8,000 on November 1, 2011.
A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?
The plan has a $2,000 deductible, but his employer contributed $1,500 to Rex' s HAS. Rex withdrew only $800 from the HAS, and the account earned $50 interest during the year.
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.
Garden Corporation engaged in the following transaction. Indicate where, if at all, it would be classified on the statement of cash flows. Assume the indirect method is used.
Paper on Baderman island prepare a 1,050- to 1,400-word paper in which you compare and contrast options and make a recommendation about which strategy the organization must choose. Address the following in your paper:
Determine which step in estimating a cost function using quality analysis is the most likely to present the greatest challenge and how you would address that challenge.
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