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Cindy Justus is managing director of the Wichita Day Care Center. Wichita is currently set up as a full-time child care facility for children between the ages of 12 months and 6 years. Cindy is trying to determine whether the center should expand its facilities to incorporate a newborn care room for infants between the ages of 6 weeks and 12 months. The necessary space already exists. An investment of $25,656 would be needed, however, to purchase cribs, high chairs, etc. The equipment purchased for the room would have a 5-year useful life with zero salvage value.
The newborn nursery would be staffed to handle 12 infants on a full-time basis. The parents of each infant would be charged $204 weekly, and the facility would operate 52 weeks of the year. Staffing the nursery would require two full-time specialists and five part-time assistants at an annual cost of $103,082. Food, diapers, and other miscellaneous supplies are expected to total $14,003 annually.
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The present value of an annuity due of 1 for six years at 8% is 4.99271. Metcalf should record the leased asset at ??
intermediate accountingnbspplease provide thorough explanations and full calculations for each answer
Compute the net benefit (loss) per machine hour that would result if Upstate Mechanical accepts the supplier's offer of $13.85 per unit for component B81?
Rhoda, a calendar year taxpayer, files her 2010 return on November 4, 2012. She did not obtain an extension for filing her return, and the return reflects additional income tax due of $25000.
The inventory cost Yukon $260,000 and was sold to Ontario for $390,000. Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation pr..
John Roberts is 55 years old and has been asked to accept early retirement from his company. The company has offered John three alternative compensation packages to induce John to retire:
Prepare general journal entries to record the transactions and events for the reporting period ended 30 June 2013 (narrations are not required).
vintage auto company manufactures parts to order for antique cars. vintage auto makes everything from fenders to engine
Present, in general journal form, the elimination entries for the preparation of a consolidated balance sheet workpaper on January 1, 2011. The difference between the value implied by the purchase price of the investment and the book value of the ..
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