During each of the next two years, warner declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for 2007 and 2008, respectively. The January 12, 2009, entry to record the sale of 3,000 shares of warner com..
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Why is essential that the planning functions of controllership can help an organization effectively and efficiently achieve a goal?
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This equipment replaces old equipment that was sold for $10,000 cash. Ignoring income taxes, the new equipments has a pay-back period of:
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Daniel is a calendar-year taxpayer whose wife died in August of 2011. His eight year old son lives with him. During 2011, Daniel had salary income of $67,000, $1600 of qualified dividend income, and received $50,000 from the life insurance policy ..
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In the spotlight about FedEx Corporation, you get a feel for the amount of investment in assets and the resulting liabilities that are required to operate a competitive corporation.
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In the current year, Galaxy Corporation, a closely held C corporation that is not a personal service corporation, has $80,000 of passive losses, $60,000 of active business income, and $10,000 of portfolio income. How much of the passive loss may G..
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Jessie, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $7,500,000 and total direct labor hours to be 125,000 hours.
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Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $22,590 which was paid in the current year.
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A business is considering a cash outlay of $500,000 for the purchase of land, which it could lease for $40,000 per year. If alternative investments are available which yield a 21% return, the opportunity cost of the purchase of the land is:
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Answer the following questions based on the 2011 annual report of Proctor & Gamble Corporation (P&G). A link to the annual report is provided below. The financial statements are on pp. 31-74 of the annual report, and all questions can be answered ..
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Retained earnings at 1/1/10 was $150,000 and at 12/31/10 it was $200,000. During 2010 cash dividends of $60,000 were paid and a stock dividend of $40,000 was issued.
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Travelers Aids most recent income statement follows Total Per Unit Sales (3,000 units) $90,000 $30.00 Variable expenses $54,000 $18.00 Contribution margin $36,000 $12.00 Fixed Expenses $22,000 Net operating income $14,000.
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