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Mark Stevens is considering opening a hobby and craft store. He would need $50000 to equip the business and another $100000 for inventories and other working capital needs. Rent on the building used by the business will be $25000 per year. Mark estimates that the annual cash inflow from the business will amount to $100000. In addition to building rent, other annual cash outflows for operating costs will amount $44000. Mark plans to operate the business for only 6 years. He estimates that the equipment and furnishings could be sold at that time for about 10% of its original cost. Mark requires a 16% return on this investment.Required:Compute the net present value of this investment.
Show the effects on the financial statements using a horizontal statement model as outlined below. 1 Sold $30,000 in merchandise for cash 2 Paid $5,000 for rent with cash 3 Paid $10,000 in salaries to employees with cash 4 Sold $25,000 in merchandi..
Prepare an income statement for the year in good form. The company closes any underapplied or overapplied manufacturing overhead to Cost of Goods Sold.
The interest rate charged the lessee was 10 percent. Under the new ASU, the balance in the right-of-use asset after 2 years will be:
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You are an employee of BusComm Consulting. Begun as a small scale business just a few years ago, BusComm has outsourced its payroll and tax accounting and return preparation to Accountpreneurs, a company specializing in accounting support for smal..
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You should look at such things as price, platforms, features, users, ease of use, scalability etc and could small business benefit from the "extra" features found in the non MYOB products?
Compute the breakeven point in units, assuming that the planned revenue mix is maintained and compute the breakeven point in units if Only standard carriers are sold
What discount rate did you use to evaluate the investment alternatives offered by the proposed capital expansion and replacement program?
Write the adjusting entry needed to reconcile the difference between actual and normal cost
Compute the partnership's ordinary income and separately stated items and show Mark's and Pamela's shares of the items in Part a.
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