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Vera a CEO of Brunetts, a publicly held corporation. for the year, she receives a dalary of 950,000, a bonus of 600,000 and contributions to her retirement plan of 35,000. The bonus was awarded at the December board meeting based on Vera's threat to accept a better paying job with a competitior. What amount may Brunettes deduct?
How would your answer to Part a. change, if at all, if the FMV of the gift property was $85,000 as of the date of the gift.
Crone Enterprises uses a word processing computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up with the volume of sales invoices.
The Big Corporation expects next year's net income to be $20 million. The firm's debt ratio is currently 30%. Big has $18 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio.
Calculate the gross wages of each worker for Week 4. Show clearly the basic pay, overtime pay and bonus pay; Using the answer in (a), analyze the total gross wages of the workers into Direct Wages and Indirect Wages;
Analysts often take a short cut in estimating a firm's cash from operations: they just add depreciation back to net income. What is the greatest shortcoming of this approach?
During the year, Xero, Inc., experienced increase in net fixed assets of $300,000 and had depreciation of $200,000. If operating cash flow (OCF) for the year was $700,000, compute firm's free cash flow (FCF) for the year.
Which of the following best describes the auditors' typical observation of plant and equipment?
Emily, one hundred (100) shares of stock and Frank, four hundred (400) shares of stock. Wren Corporation redeems one hundred fifty (150) of Frank's shares of stock (Adjusted Basis of $60,000) for $150,000. As a result of this transaction, which of..
In government wide financial statements information about fiduciary funds should be presented in a discrete column to the right of the business type activities
Assume that the company computes variances at the earliest point in time. Taylor's direct-material price variance was:
During the year, Katie received the following: What amount must Cathy include in gross income?
What accounting factors are significant before evaluating whether a pending lawsuit should be accrued as a liability and reflected in the financial statements?
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