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A company has 7000 obsolete toys carried in inventory at a manufacturing cost of $6 per unit. If the toys are reworked for $2 per unit, they could be sold for $3 per unit. If the toys are scrapped, they could be sold for $1.85 per unit. Which alternative is more desirable(rework/scrap), and what is the total dollar amount of the advantage of that alternative?
A company is investing in a machine with a 3 year life. The machine is expected to reduce annual cash operating costs by $30,000 in each of the first 2 years and by $20,000 in year 3. Present value factors follow:
For $1 for an annuity of $1
Using a 14% cost of the capital, what is the present value of these future savings?
explain whether each of the following would be expensed on the income statement in2007 or in some later year and why.a.
requiredbull use the following information to complete phillip and claire dunphys 2012 federal income tax return. if
you have just won the lottery and will receive 1000000 in one year. you will receive payments for 25 years and the
Many states have prevailing wage laws that require government contracts pay premium wages to workers who would otherwise work for 20% to 30% less. What is the rationale for such laws? In your opinion, what is their effectiveness?
Open up an IAS or IFRS a. What are the major organizational parts of the authority (placed in bold) b. Compare your answer in (a) to the major organizational parts of an IFRIC or SIC. c. Are (a) and (b) for the most part, the same If yes, how so If n..
Which of the following statements about overhead allocation based on volume alone is correct?
At the beginning of 2009, Todd sold the shares for $62,000. Provide the details of both income and gift tax effects for these events.
presented below are unrelated cases involving investments in equity securities.case i. the fair value of the trading
The balances in Salza Company's capital stock and retained earnings account on the date of acquisition were $1,200,000 and $600,000 respectively.
at your first job after graduation you start working for a local cpa firm. the firms partner mentions that partnerships
the manufacturing overhead budget at latronica corporation is based on budgeted direct labor-hours. the direct labor
imagine you are a certified public accountant cpa and your client has asked for your help in mitigating or eliminating
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