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Donald’s Drive-in Hamburger restaurant pays its employees on Friday for every week (regular work week - Monday through Friday.) The total payroll for the last week of the calendar year is $5,000, and the year ends on Wednesday.
1. What accounts should payroll use for recording the expense for the year that is ending, and how much is recognized?
2. What accounting principle does this address?
3. What effect will NOT recording the expense of the period have on the Income Statement? On the Balance Sheet?
Mr. R. owns 20,000 shares of ABC Corporation stock. The company is planning to issue a stock dividend. Before the dividend Mr. R. owned 10 percent of the outstanding stock, which had a market value of $200,000, or $10 per share. Upon receiving the 10..
In using asymmetric information, it could be explained that businesses maintain a reserve borrowing capacity to take advantage of good investment opportunities and, at the same time, avoid having to issue stock at distressed prices that will discoura..
Without changing anything regarding its product or operations, the CEO of a company wants to increase the ROE of his company. What could he possibly do? Be sure to state the steps.
A pension plan is obligated to make disbursements of $1.4 million, $2.4 million, and $1.4 million at the end of each of the next three years, respectively. Find the duration of the plan's obligations if the interest rate is 8% annually.
Suppose a corporation sells 5,000 units of a product each year at a price per unit of $380. All sales are on credit with terms of 1/10, net 30. The discount is taken by 35 percent of the customers. What is the amount of the company’s accounts receiva..
Calculate the present value of the following investment: (a) Future Value: $123,000, (b) Number of Periods: 10, and (c) Interest Rate: 6%. Calculate the future value of the following investment: (a) Present Value: $12,000, (b) Number of Periods: 13, ..
Suppose we observe the three-year Treasury security rate (1R3) to be 5.3 percent, the expected one-year rate next year—E(2r1)—to be 5.8 percent, and the expected one-year rate the following year—E(3r1)—to be 6.2 percent. If the unbiased expectations ..
A preferred stock from Duquesne Light Company (DQUPRA) pays $3.55 in annual dividends. If the required return on the preferred stock is 6.7 percent, what is the value of the stock and explain why the growth rate of perferred stock is 0%
An investor in the 20% Marginal tax bracket is looking at buying Harrisburg, PA notes. The Yield is 4.25% on the notes. What is the Taxable Equivalent Yield?
The Wildcat Oil Company is trying to decide whether to lease or buy a new computer-assisted drilling system for its oil exploration business. Management has decided that it must use the system to stay competitive; it will provide $2.7 million in annu..
Mortgage interest on your personal residence is tax deductible but rental payments are not. Is this fair to renters? Should rental payments be tax deductible? Or should mortgage interest be non-deductible?
Many companies issued preferred stock with a provision that allows the company to buy back the proffered stock at it original price after five years. The article notes that his provision " can produce unexpected losses for investors". Why might these..
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