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George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:
What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)?
Prepare journal entries to record the retirement of the old issue and the sale of the new issue on June 30, 2011. Prepare the entry required on December 31, 2011 to record the payment of the first 6 months interest and the amortization of premium on..
Which of the following statements is true regarding the sale of a partnership interest?
ABC has the following budgeted costs at its anticipated production level (expressed in hours):
Describe the procedures Jeff should use in setting standards for direct labor and direct materials.
As corporate controller for Apollo Shoes, you are tasked to find and explain any irregularities in the Apollo Shoes Case.
When designing an information system, the designers are increasingly concerned with the risks associated with technology and information system. Write a memo to the Vice President explaining to him the general nature of risk.
Nellie is evaluating a potential bond purchase that the seller purchased 12 years ago for $4,000. The bond matures 8 years from today.
a. Calculate the issue price of the bonds. b. Without prejudice to your solution in part a, assume that the issue price was $884,000. Prepare the amortization table for 2008, assuming that amortization is recorded on interest payment dates.
Calculate the income recognized by Parcell under the percentage-of-completion method of accounting in each of the years 2007, 2008, and 2009.
The program itself, which is accounted for in a special revenue fund, is funded by both direct contributions and the income from the permanent fund. At the start of the year, the special revenue fund had assets (all invested) of $26,000.
The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been:
Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.
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