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Joe makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would he receive for September net of Social Security and Medicare taxes? What journal entry would be made on March 31 for wages owed to Joe? What journal entry would be made when he is paid on April 7?
Tan Company acquires a new machine (ten-year property) on January 15, 2011, at a cost of $200,000. Tan also acquires another new machine (seven-year property) on November 5, 2011, at a cost of $40,000.
Partnership will take a carryover basis in an asset it acquires when: a. The partnership acquires the asset through a § 1031 like-kind exchange. b. A partner owning 25% of partnership capital and profits sells the asset to the partnership.
Define a product-harm crisis. Identify the factors that contribute to a product-harm crisis. Compare and contrast the findings of the various studies on product-harm crisis.
Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. Which divisional manager seems to be doing the better job? Why?
Lane included the entire $90,000 in its 2007 income tax return. What amount should Lane report in its 2007 income statement for subscriptions revenue?
A manager in the billing section of a mobile phone company checks on the proportion of customers who are paying their bills late. Company policy dictates that this portion should not exceed 20 percent.
Determine the eliminating entries necessary for the 20X9 consolidated financial statements. Provide correct eliminating entries necessary for the 20X9 consolidated financial statements.
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:
In 2009, Osgood Corporation purchased $4 million in ten-year municipal bonds at face value. On December 31, 2011, the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.
Discuss the main accounting conventions and concepts.
Determine net income assuming 1000 haircuts are given each month.
A business simulation game that is used by colleges and universities all over the world has students submit decisions over the Internet. Decisions are stored online, processed on the server, and then the results are stored online.
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