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The Express Banquet has two restraunts that are open 24 hrs a day. Fixed costs for the two restraunts together total $459,000 pr year. Service varies from a cup of coffee to a full meal. The average sales check per customer is $8.50. The average cost of food and other variable costs for each customer is $3.40. The income tax rate is 30%. Target net income is 107,100. 1. Compute the revenues needed to earn the target net income. 2. How many customers are needed to break even? To earn net income of $107,100? 3. Compute net income if the number of customers is 170,000.
In this module you are going to have your final application to your organization. Identify a decision that has recently been made or will be made in the near future in your organization. Identify two relevant and two non-relevant costs in this dec..
Differentiate between a loss carryback and loss carryforward. Explain the way in which carrybacks and carryforwards affect the reporting of deferred tax assets and deferred tax liabilities. Provide one (1) example, situation, or scenario of thi..
on january 2 2011 jansing corporation acquired a new machine with an estimated useful life of five years. the cost of
Roger signed for a ten year lease to rent office space from Doug. In the first year, Roger paid Doug 5000 for the first year's rent and 5000 for the rent for the last year of the lease. How much must Doug include in income in the first year of the..
Beginning accounts receivable were $11,000 and ending accounts receivable were $14,000. All sales were on credit and totaled $559,000.
taxpayer y who has a 30 percent marginal tax rate invested 65000 in a bond that pays 8 annual interest. compute ys
sanford inc. has developed value-added standards for four activities purchasing parts receiving parts moving parts and
wright company deposits all cash receipts on the day when they are received and it makes all cash payments by check. at
Kern Company purchased bonds with a face amount of $400,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of..
Explain the following in a memo to your instructor. The comparative advantages and disadvantages of ideal versus normal standards.
net sales for the month are 800000 and bad debts are expected to be 1.5 of net sales. the company uses the
1. Anna transferred land with an adjusted basis to her of $20,000 and a fair market value of $56,000 to Elm Corporation in exchange for 100% of Elm Corporation's only class of stock.
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