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Point 1: Pinson's Heat Pump Installations started the year with total assets of $90,000, total liabilities of $30,000, and retained earnings of $51,000. During the year, the business recorded $50,000 in installation revenues, $41,000 in expenses, and the company paid dividends of $5,000. The company did not make any additional investments during the year. Ignore taxes
Question 1: Calculate the Net Income and ROA
During the month of February, the agency engaged in the following transactions.Received an additional investment of cash from Joan Miller, $6,000.Purchased additional office equipment with cash, $800.
Compute the required sales needed to achieve management's target net income of $68,610 and who are the stakeholders in this decision, is it ethical for Gina to revise the costs as indicated? Briefly explain.
Calculate the debt-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places. Calculate Haslam's liabilities-to-assets
Sergio is single, is paid $1,200 per week, and claims one withholding allowance. What is the amount of federal income tax withheld from Sergio's gross wages for the week using the percentage method?
What are the sources (source documents) for posting direct labor cost to (a) individual jobs in the job cost ledger and (b) the work in process account in the general ledger? What are the sources (source documents) for posting indirect labor cost to ..
computation of contribution margin ratio bep and margin of safety.aunt pittys pies is a small bakery that sells its
Forten Company, a merchandiser, recently completed its calendar-year 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, Prepare a complete statement of cash flow..
Santana Rey, owner of business solutions, decides to diversify her business by also manufacturing computer workstation furniture. prepare a schedule of cost of goods manufactured for business solutions for the month ended January 31, 2016 assume the ..
Determine the gross profit on the Daley case, assuming that over- or underapplied office overhead is closed annually to cost of services.
A corporation has issued 17,000 shares $50 par value common stock. The board of directors declares a 4-for-1 stock split when the market value of the stock is $185. What should be the approximate market value of the stock after the stock split?
Concord Company owns 9,000 acres of timberland purchased in 2006 at a cost of $1,484 per acre. Determine the depreciation expense and cost of timber sold
Assume, John Hankins, who owns Hankins Construction Co. and runs it as a proprietorship, had gross profit last year of $ 100,000. His personal and family expenses are $50,000 and he has $10,000 in exemption and deductions. What taxes would John pay a..
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