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A lawyer allocates overhead costs based on his hours working with different clients. The lawyer expects to have $200,000 in overhead during the year and expects to work on clients' cases 2,000 hours during the year. In addition he wants to pay himself $50 per hour for working with clients. The lawyer, however, does not bill all of his clients based on covering overhead costs and his own salary. Some clients pay her on contingency fees. If the lawyer works with a client on a contingency fee basis, the lawyer receives half of any settlement for his client. During the year the lawyer works 1,200 hours that are billable to clients. The remaining hours are worked on a contingency basis. The lawyer wins $300,000 in settlements for his clients of which he receives half. Actual overhead was $210,000, a. What does the lawyer earn during the year after expenses?
A change in an accounting estimate is: how much depreciation expense should the company recognize on December 31, 2010?
A public school district formally adopted a budget with estimated revenues of $500 and approved expenditures of $490. Which of the following is the appropriate entry to record the budget?
the admiral company began operations on january 1 2010. the company estimated that 0.10 of warranty costs will be
1. What effect would each of the actions that you are considering have on the store's operating income this year? In your opinion, is either action unethical?
Employee theft is a major problem in the U.S. retail industry
Criticize the positions taken by Pherson and Collier, and express your own opinion about the similarities and differences that should exist in understanding internal control and assessing control risk for different-sized companies.
wenner furnace corp. purchased machinery for 421290 on may 1 2012. it is estimated that it will have a useful life of
When should variances be investigated? Who should be responsible for correcting a negative variance? Why? What are some factors that can lead to variances? How can variances be corrected?
Cloud-based computing allows businesses to store and access large amounts of data over the Internet rather than on in-house computer hard drives. There are several cloud-based data solutions currently available in the marketplace.
chester amp wayne is a regional food distribution company. mr. chester ceo has asked your assistance in preparing
jacobsen leasing company leases a new machine that has a cost and fair value of 62100 to stadler corporation on a
the following information is provided income before taxes 900000 income before taxes included the following
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