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Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000 with terms of 5/15 n/45. Payment was made within the discount period. Shipping costs were $4,600, which included $200 for insurance in transit. Installation costs totaled $12,000, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is:
Income from operations for Division B is $150,000, total service department charges are $400,000and operating expenses are $2,266,000. What are the revenues for Division B?
The company requires a minimum pretax return of 15% on all investment projects. The net present value of the proposed project is closest to:
Which is the correct order of steps in the accounting cycle?
Presented below are unrelated cases involving investments in equity securities. Indicate the accounting required for each case separately.
Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)
Explain to Tom two key benefits to Buildit New Zealand for undertaking financial statement analysis and complete the "Table of Financial Ratios for Buildit New Zealand Limited, for 2013 and 2014
Susco distributed two assets in a transaction that qualified as a redemption.One asset had an adjusted basis of $100,000 and a fair market of $135,000.
Globe uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of B2 would be assigned overhead of:
Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is applied at the rate of 75% of direct labor costs. Winter Company's total manufacturing costs for the year was:
What is the major source of the change in net assets that occurred in 2007 from the change that occurred in 2008? In your opinion, is this trend likely to continue? Why/why not?
Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.
Put Company paid $220,000 for an 80% interest in Sel Company on July 1, 2011, when Sel Company had total equity of $110,000. Sel Company reported earnings of $10,000 for 2011 and declared dividends of $8,000 on November 1, 2011.
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