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Suppose the following for a public college or university. It had tuition and fees for the year ended June 30, 2007 in the amount of $50,000,000. Scholarships, for which no services were required, amounted to $2,500,000. Graduate assistantships, for which services were required, amounted to $2,300,000. The amount to be reported by the college for net tuition and fee revenue would be $47,500,000. Please explain the computation. Please explain the rule that requires this result. Is this a GASB rule or a FASB rule? What statement would the numbers be reflected on?
Cindy reported net income of $40,000 during 2003 and paid dividends of $20,000. Penny should report net income for 2003 in the amount of:
Staley Company has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Staley used 3,100 pounds of materials at a total cost of $12,090. Staley's materials price variance is:
What is a stock repurchase? Describe the procedures a company follows when it make a distribution through a stock purchase.
Cost of goods sold for 2010 was $3,600,000. If Butler Company had used FIFO during 2010, its cost of goods sold for 2010 would have been ??
The quantity purchased is used in computing the direct materials price variance because you are looking for the difference in the price of materials for the job
Both figures occur evenly throughout the year. On a December 31, 2004 consolidated income statement, what should be reported as the noncontrolling interest in the subsidiary's net income and as preacquisition income?
Dresser Company uses a standard cost system and sets predetermined overhead rates on the basis of direct labor-hours. The following data are taken from the company's budget for the current year: Prepare an analysis of the variance for material and ..
The Tyson Company has provided the following information: Using the high-low method, calculate the total fixed factory overhead cost and the variable factory overhead cost per direct labor hour.
Swagelok Enterprises is manufacturer of miniature fittings and valves. Over a 5-year period, the costs associated with one product line were given below:
The Warner Corporation has gross income of $560,000. It has business Expenses of $325,000, a capital loss of $20,000 and $2,500 of interest income on temporary investments. What is the corporation's taxable income?
What financial instruments (financial assets and financial liabilities) are not eligible for an entity to use the fair value option of accounting?
V Company's product has a labor standard of 2 hours per unit. For 2011, it estimates its production will be 200,000 units (400,000 DLHs). It budgets total overhead at $900,000, which results in a fixed overhead rate of $1.50 per hour.
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