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Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for office Supplies at year-end?
Quigley co. bought a machine in January 1, 2009 for $875,000. It had a $75,000 estimated residual value and ten year life. The repairs and maintance expense account was incorrectly debited on the purchase date. Quigley uses straight-line depreciat..
Calculate the total indirect manufacturing costs for December from the information given above.
Jessica Boland works for Sea Biscuit Co. She and Farah Smith, her manager, are preparing adjusting entries for annual financial statements. Boland computes depreciation and records it as: How should depreciation be recorded? Do you support Boland o..
A favorable cost variance of significant magnitude: A) Is strong evidence of tight financial control. B) Does not need to be investigated as to its underlying cause.
Dothan Inc. has a 10% ROE and a 30% dividend payout ratio. Its stock is currently selling at $50 per share and it recently paid a $2 dividend per share. a) Calculate the internal growth rate of the company.
Assume that the client company, which handled some government contracts, had no internal auditors for a federal agency spent three weeks auditing the records and were just completing their work at this time.
Suppose in year 2011 the risk free rate was 6% the market free rate was 9% and the beta of the share was 1.54. Calculate the costs of equity.
In 2012, Warren sold his personal use automobile for a loss of $9,000. He also sold a personal coin collection for a gain of $10,000. As result of these sales, $1,000 is subject to income tax.
The company had 110,000 shares of stock outstanding which sold at a price of $56 per share. By how much did the firm's market value and book value per share differ?
Which is generally considered to be the primary purpose of an internal auditor's evaluation of the adequacy of internal controls.
Mel is not quite sure whether an expenditure he made is a deduction for AGI or a deduction from AGI. Since he plans to choose the standard deduction option for the year, does the distinction matter? Explain.
LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?
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