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Question
Bloom Company management predicts that it will incur fixed costs of $255,000 and earn pretax income of $427,500 in the next period. Its expected contribution margin ratio is 65%.
Required:
1. Compute the amount of total dollar sales.
2. Compute the amount of total variable costs.
Evaluate the company margin of safety and Compute the company margin of safety as a percentage of its sales.
The equipment's utility to the company has declined because they expect it to generate a net cash flow over the remaining years of $200,000 from its operation. If the asset has been impaired, record the journal entry to recognize the loss.
What accounting concept was used when a business boasting pleasant industrial relations wants to record it as a concept worth $10,000?
Determine the cost of timber sold related to depletion for 2014. Compute the rate of depreciation per year to be applied to the plant assets under the composite method.
On January 1, 2011, Foley Company (as lessor) entered into a noncancelable lease agreement with Pinkley Company for machinery which was carried on the accounting records of Foley at $4,530,000 and had a market value of $4,800,000. From the lessee's ..
On December 31, 20X8, Mercury Corporation acquired 100 percent ownership of Saturn Corporation. On that date, Saturn reported assets and liabilities with book values of $300,000 and $100,000, respectively, common stock outstanding of $50,000, and ret..
Determine the basis of the ultimate cost of the payment to the lender to our company - For the purpose of this assignment you may ignore the carrying costs and the brokerage feesof the swap arrangement.
A company is estimating its costs based on past information. The total costs incurred by the company at different levels of output were as follows:
egger manufacturing company is a small bookbinder using machine-hours mh as the single indirect-cost rate to allocate
Compute the following profitability ratios for 2009 and 2008. Operating cash flow/current maturities of long-term debt and current notes payable.
More than one answer may be correct under limited business operating conditions. You are to select only one answer. The one that is most correct under normal business operating conditions.
Provide all journal entries that are necessary in the books of Large Mart to account for the purchase of the car as well as the payment of the car
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