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Question - Company X only has common shares outstanding. The following data relates to Company X.
Total assets, Dec 31, year 1 $382000
Total assets, Dec 31, year 2 $392000
Total liabilities, Dec 31, year 1 $46000
Total liabilities, Dec 31, year 2 $65000
Sales for year 2 960000
Income for year 2 22000
Required - Calculate the return on equity for year 2. Express your answer as a percentage and round your answer to 2 decimal places.
Calculate the standard direct labor hours allowed for the actual level of activity during August. Calculate the actual direct labor rate paid per hour
Add the costs of the unfinished houses, and show that this total amount equals the ending balances in the Work in process inventory account.
Lasta Co. uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the January 02- sold merchandise to Nile Co.
Consideration Payable to a Customer - Prepare AwakeAllNight's journal entries to recognize sales revenue and pay Campus Grocers the placement fee
Calculate the depreciation expense and book value as of December 31, 2017 and December 31, 2018 using both the straight-line and DDB methods
ABC Unlimited Comp. makes decorative throw pillows for home use. Prepare the production budget. Assume that company anticipates selling 240,000 units in April
Murray paid interest of $3,200 on a personal loan of $60,000 that he used to begin the business. Should Ontime Delivery Service record the interest payment
Aaron Corporation is projecting a cash balance of $30,000 in its December 31, 2013, balance sheet. Prepare a cash budget for the first quarter
Key comparative information for Nokia (www.Nokia.com), which is a leading global manufacturer of mobile devices and services, follows (in EUR).
An asset having a four-year service life and a salvage value of $5,000 was acquired for $45,000 cash on June 28. What would be the amortization expense.
On the first day of the fiscal year, a company issues a $972,000, 10%, 5-year bond that pays semiannual interest of $48,600 ($972,000 x 10% x 1/2).
Name the first steps in verifying the bank reconciliation.Are circumstances under which auditors might perform the bank reconciliation for themselves? Explain.
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