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The income statement for Roland Inc. shows income before income taxes $700,000, income tax expenses $210,000, and net income $490,000. If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
a. $5.50
b. $3.40
c. $1.5
d. $0.60
Depreciation of general capital assets is not recorded in the accounts of any of the governmental funds. If a building is transferred from the General Fund to an internal service fund because the character of its use changes, should the internal s..
Assuming the Box Division has enough excess capacity to supply all of the Rolling Division's needs, which of the following is the range at which a negotiated transfer price between the two divisions should occur?
Why are fringe benefits provided by employers to employees more valuable to those employees than if the employer simply gave the employees the money necessary to purchase those fringe benefits?
Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..
After the course, Danny spent the last day sightseeing. During the trip, Danny also paid $140 a day for meals, and $80 a day for a rental car. What amount of these travel-related expenditures may Danny deduct as business expenses.
Cooper Corporation purchased a special tractor on December 31, 2012. The purchase agreement stipulated that Fishbone should pay $25,600 at the time of purchase and $7,700 at the end of each of the next 11 years. The tractor should be recorded on D..
Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.
Calculate the predetermined overhead rate using direct labor costs as the allocation base. Calculate the predetermined overhead rate using machine hours as the allocation base. Which of the allocation bases is preferred? Why?
he bonds will be insured up to $17,000, so Jose doesn't want to invest more than that amount in bonds which will earn 4 1/2%. What will be the maximum amount of interest that Jose could learn?
The company has 15 employees, who earn a total of $1830 in salaries each working day. They are paid each Monday for their work in the five day workweek ending on the previous Friday.
he ledger of Elburn Company at the end of the current year shows the following: If Elburn uses the direct write-off method to account for uncollected accounts, journalize the adjusting entry at December 31, assuming Elburn determines that Copp's $..
Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.
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