Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Jake Smith opened his Balinese coffee shop business in downtown Boise on January 1st 2010. On December 31st, 2010, he sat down with his accountant to figure out how his business had done in its first year and heaved a sigh of relief when his accountant reported that his EBT came to $20,000. Revenues, at $1,050,000 looked good. His expenses were as follows:
Salaries and benefits paid to employees $210,000Jake's own salary $100,000Supplies (coffee, tea, milk, pastries, etc.) $620,000Cost of Restaurant grade coffee machine $30,000Miscellaneous operating costs $44,000Interest on loan $12,000
How much did Jake's accountant allocate for depreciation and amortization?
a. $44,000
b. $14,000
c. $4,000
d. $0.00
Identify which segments are significant enough to warrant disclosure in accordance with FASB No. 131, "Reporting Disaggregated Information about a Business Enterprise," by applying the following quantitative tests:
In your own words, explain what is meant by "inductive reasoning" and "deductive reasoning." State the differences between the two and provide examples to illustrate.
Describe a situation where managers would benefit from using variable costing instead of absorption costing. What specific benefits would the managers realize?
Vincent's gifts for the year before considering the annual gift tax exclusion total
Disney's variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
Discuss the similarities and differences between the indicators of finance leases under IFRS and the criteria for capitalizing leases under U.S. GAAP.
The Loebuck grocery sells milk. The grocer orders milk from a local farmer fro $13 per case and sells for $16 per case. Unsold cases are disposed for $1.5 per case, and each case of shortage causes $3.7 loss of profit.
What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?
Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/11. Duri..
Assume that total sales for January are budgeted to be $50,000. What are the expected cash receipts for January from the current and past sales?
During the current year, the Yankton Company purchased 200 shares of in the Sorros Company for $13,000 as a temporary investment. At the end of the year, the market value of the stock was $11,000. The Yankton Company's financial statements for the..
The conversion price of CRX's convertible ($1,000 par) subordinated debentures is $40 and the present market price of CRX common stock is $48.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd