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Regalia Fashions has an incentive compensation plan through which a division manager receives a bonus equal to 8% of the division's net income. Division income in 2013 before the bonus and income tax was $245,000. The tax rate is 30%. Calculate the amount of the bonus. Im getting $12,992 but the system says its wrong.
The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of $7,121,599, accounts receivables of $3,488,121, notes payable worth $1,151,663, and other current assets of $121,455. What is the com..
For the current year ending April 30, Hal Company expects fixed costs of $60,000, a unit variable cost of $70, and a unit selling price of $105.(a) Compute the anticipated break-even sales (units).(b) Compute the sales (units) required to realize ..
DNA Corporation issued $4,000,000 in 8 percent, 10-year bonds on February 1, 2010, at 115. Semiannual interest payment dates are January 31 and July 31. Use the straight-line method and ignore year-end accruals.
person is considering buying the stock of two home health companies that are similar in all respects except the proportion of earnings paid out in dividends.
Mayberry Gas Corp. sells $200,000 of bonds to private investors. The bonds are due in five years, have an 8% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 6%. What proceeds does Mayberry receive from the investors?
In preparing a statement of cash flows for the year ended December 31, 2011, for Cole Company, cash flows from financing activities would reflect
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
Determine the amount of bad debts expense that must have been recorded by the company for 2008. Determine the amount of bad debts expense that must have been recorded by the company for 2008.
Varmit-B-Gone is a pest control service that operates in a suburban neighborhood.
Consider the following economy: Write numerical formula for IS curve. Write numerical formula for LM curve. What is equilibrium level of r?
In its first month of operations, Quirk Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8.
A Corporation is considering issuing a convertible bond. What is a convertible bond and the advantages of a convertible bond from the standpoint of 1) the bondholder and 2) the issuing corporation.
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