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If fixed costs are $300,000, the unit selling price is $31, and the unit variable costs are $22, what is the break-even sales (units) if fixed costs are reduced by $30,000? Answer 30,000 units 8,710 units 12,273 units 20,000 units (300000-30000)/(31-22) = 30000 units
Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100. Prepare the journal entry to record the retirement of the bonds before maturity at 98. Assume the balance in premium on bonds payable ..
Alternatively, ABC can sell 9.5 percent coupon bonds with a 2-year maturity and $1,000 par value at a price of $950.00. How many percentage points lower is the interest rate on the less expensive debt instrument?
Determine the impact on the balance sheet accounts if the following information is not used to adjust the accounts of Mood Food Company for the month of January, 2012. Round answers to the nearest dollar.
What are the basic factors that must be considered in presenting annual report?
Purple never used the land for any business purpose during the time it was owned by the corporation. What amount of loss can Purple Corporation recognize on the sale of the undeveloped land?
Determine the budgeted manufacturing overhead rate for each department. Prepare the necessary journal entries to summarize the March transactions for Department 100.
Host Corporation is authorized to issue 800,000 shares of $7 par value common stock. During 2010, its first year of operation, the company has the following stock transactions.
Why is accounting for contributions so critical for a not-for-profit entity? For example, what complications can arise if a donor places conditions on a pledged contribution or imposes restrictions on the use of the money by the organization? What..
Which of the following is true regarding the lease term? A) The lease term does not include all periods covered by bargain renewal options. B) The lease term includes all periods for which failure to renew imposes a penalty sufficiently high that t..
From the perspective of the Computer Desk Division and the company, should the order be accepted if the Executive Division plans on selling the desks in the outside market for $420 after incurring additional costs of $100 per desk?
Sands Corporation has the following capital structure at the beginning of the year 2007: Construct the stockholders' equity section incorporating all the above information.
What happens if a company is completely wrong and they lose a huge lawsuit from actions from a prior period. Should they go back and amend that prior year to show the estimated liability? Why or why not?
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