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Question - The following data relates to company X. Net book value of fixed assets Dec 31, year 1, 148000
Net book value of fixed assets, Dec 31, year 2 398000
Total liabilities, Dec 31, year 1, 90000
Total liabilities, Dec 31, year 2, 107000
Sales for year 2 88000
Income for year 2 20000
Required - Calculate the fixed asset turnover rate for year 2.
Determine the depletion rate per ton. Journalize the adjusting entry to recognize the depletion expense. During the year 2020, 1,000,000 tons mined and sold.
During the financial year ended 31 May 2020, the following transactions occurred. Prepare statement of comprehensive income as at 31 May 2020
what are examples of irregular items? how does a change in accounting principles affect the financial statements? who
declared semiannual dividends of 1.40 on 35000 shares of preferred stock and 0.09 on the common stock to stockholders
What is the amount of gain or loss recognized on the sale of the land contributed by Jessica? What is the character of this gain or loss
athens corporation uses a job-cost system and applies manufacturing overhead to products on the basis of machine hours.
Brown Office Supplies recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, How much was the firm earnings before taxes
Widmer Watercraft's predetermined overhead rate for year 2015 is 200% of direct labor. Prepare a job cost sheet for each job worked on during the month
If rates of return available in the market decline and you now require only a 10% rate of return, what would you be willing to pay for the stock?
Define fund as the term is used in governmental accounting.
Suppose the following items were taken from the 2017 financial statements of Texas Instruments, Inc. (All dollars are in millions.)
Verde, Inc. has fixed costs of $3,120,000 and the unit contribution margin is 60% of the $325 unit selling price. What is Verde's break-even point?
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