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Point 1: Southern California Publishing Company is trying to decide whether to revise its popular textbook, Financial Psychoanalysis Made Simple. The company has estimated that the revision will cost $90,000. Cash flows from increased sales will be $20,700 the first year. These cash flows will increase by 5 percent per year. The book will go out of print six years from now. Assume that the initial cost is paid now and revenues are received at the end of each year.
Question 1: If the company requires a return of 12 percent for such an investment, calculate the present value of the cash inflows of the project.
Make the necessary adjusting journal entries at December 31, 2007, and December 31, 2008 to record depreciation for each year using straight-line depreciation method.
Sanborn Inc. is a new manufacturing company founded on February 2, 2012. The company had to choose between the LIFO and FIFO methods for its inventory. Inventory costs were rising during 2012, so the company decided to use the LIFO method. Which of t..
Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. The corporation provides services to each customer every month. On July 1, 2016, Bigham sold the following customer contracts: Leng..
The firm partners expect client billing revenue will increase by 35% while costs will be reduced by 20%. Identify the revenue and costs considerations and other relevant issues that should be considered.
A primary advantage of using computer-assisted audit techniques (CAATs) packages to audit the financial statements of a client that uses computerized information systems is that the auditor may
The gross profit rate is 40% and the desired ending inventory level is 20% of the months cost of sales. Prepare and present the purchase budget for the month?
James Beskins and Jennifer Stock have both decided to buy 100 shares of WWW.COM, a hot Internet stock. The market price is $240 per share
Liquidity Ratios-working capital, current ratio, quick/acid-test ratio, receivable turnover, average day's sales uncollected, inventory turnover, average day's inventory on hand, operating cycle.
Holmes Institute Australia - HA3011 Advanced Financial Accounting Assignment. What changes incorporated in the new accounting standard
Organize the information in accounts under an accounting equation. What amount of net cash flow from operating activities would be reported on the 2012 cash flow statement?
On July 1, 2011, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2011 for $50,000 less than their book value. Prepare a multip..
The City of Bacon is located in the County of Pork. The city has a school system and reports buildings at a net $3.6 million although they are actually worth $4.2 million. The county has another school system and reports buildings at a net $5.2 milli..
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