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Jen owns a sole proprietorship, and Steve is the sole shareholder of a C (regular) corporation. Each business sustained a $14,000 operating loss and a $3,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the two owners?
A company has $27 per unit in variable costs and $1,000,000 per year in fixed costs. Demand is estimated to be 100,000 units annually. What is the price if a markup of 40% on total cost is used to determine the price?
Krouse Corporation reports that at an activity level of 8,100 units, its total variable cost is $517,995 and its total fixed cost is $197,700. What would be the total cost, both fixed and variable, at an activity level of 8,600 units? Assume that ..
What is the difference between an agreement and a contract? What is the difference between an offer and a contract? If you sign a purchase agreement to buy a house but do not give the seller a deposit and, after signing, change your mind before you m..
Firm O purchased two items of business personality during the year. The first item cost $500,000 and has a five-year recovery period, and the second item also cost $500,000 and has a seven-year recovery period. Firm O wants to make the section 179 el..
Macroeconomics is part of the economics concerned with individual units such as a person, a household, a firm of an industry"
Mott Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Mott $2.00 each. Mott estimates that 40% of the coupons will be redeemed.
DEF Co is a large company which has three divisions; a restaurants division, a pubs division, and a casino division. Analyse the divisions according to how they fit into the BCG matrix.
problem 1a company issued a 50000 four-year 4 bond on january 1. bond interest is paid each december 31. the bond was
Preparation of Multi-step Income statement - Using the information provided, prepare a multi-step income statement for the year ended December 31, 2009 in proper format including earnings per share disclosure.
George Jackson operates a small machine shop. He manufactures one standard product which is available from many other similar businesses and also manufactures custom-made products. His accountant prepared the annual income statement shown below.
How much of the total sales revenue is required to be paid with cash and how many customers transaction does the company imagine in January
Determine whether each of the following cost should be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO).
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