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Stevens Corp has an employee benefit plan for compensated absences that gives employees 15 paid vacation days that can be carried over indefinitely or employees can receive payment in lieu of vacation. The company's December 31, 2009 unadjusted balance of liability for compensated absences was $30,000. The company estimated 200 vacation days available and employees earned $150 per day. What is the liability for compensated balances on December 31, 2009:
Would the calculaton be:
200 vacation days x $150 per day $30,000
Vial-tek has an existing loan in the amount of 3.5 million with an annual interest rate of 9.5%. The company provides an internal company prepared financial statement to the bank under the loan agreement.
How does the use of the accrual basis help organizations to better evaluate their performance over time? What protection could financial statements generated under the accrual basis have to a potential donor in the organization?
The material price variance was 1370 favorable and find the standard price per kilogram for raw material?
Explain why manufacturing overhead costs cannot be directly associated with any particular product, and how such costs are allocated to each of several company's products under the so-called traditional approach to overhead allocation.
A fire totally destroyed office equipment and furniture which Monica uses in her business. The equipment had an adjusted basis of $15,000 and a FMV of $10,000 before the fire.
Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.
Prepare the appropriate journal entry to be made by Bayfield Company for the first lease payment. Prepare the journal entry to record the lease agreement on the books of Josh inc. on January 1, 2008
When you request the additional information from the client, she tells you that she has no more documentation and that is all you can be given.
Upon audit, the IRS disallowed the interest deduction, classifying it a non-deductible personal interest. Donald believes and has asked you to find support for the deduction.
Employee Business Expenses: Planning.J is employed as a salesman by Bigtime Business Forms Inc. He is considering the purchase of a new automobile that he would use primarily for business. Are there any tax factors that J might consider before pur..
Compute the consolidated gain or loss on a consolidated income statement for 2009.
Majestic could avoid $5,000 in fixed overhead costs if it acquires the CDs externally. If cost minimization is the major consideration and the company would prefer to buy the 60,000 units externally, what is the maximum external price that Majesti..
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