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A Company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September 30 inventory is $25,000. If the December 31 inventory is targeted at $7,500, budgeted purchases for the fourth quarter should be:
The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. What is the price of the bond on date of purchase?
Prepare the appropriate journal entry to record the award of SARs on January 1, 2006.
Average storage bin usage for various inventories was estimated to be 200 per day. The costs and cost drivers were determined to be as follows:
The tax law provides very favorable tax treatment for long term capital gains. First, explain what that favorable treatment is. Second, why? Why does the tax law provide favorable treatment for long term capital gains? Do you agree that they shoul..
Several years ago the Haverford Company sold $1,000 par value bond that now has 25 years to maturity and an 8.00% annual coupon that is paid quarterly.
Elton, Inc., which owes Boston Co. $900,000 in notes payable, is in financial difficulty. To eliminate the debt, Boston agrees to accept from Elton land having a fair market value of $680,000 and a recorded cost of $510,000.
Post Inc, had a receivable from a foregn customer that is payable in customer's loca currency. On Dec 31, 2009, Post correctly included this receivable for 200,000 local currency units
December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60%) and to goodwill (40 %). On a consolidated balance sheet as of January 2, what would be the amount for ea..
Really Welcome, Inc., a tax exempt organization, receives 30% of its support from disqualified persons. Another disqualified person has agreed to match this support if Really Welcome will appoint him to the organization's board of directors. What ..
Which of the following statements concerning the Ultramares Corp. v. Touche case is not true?
What are the different types of dividends that corporations may issue? When should a corporation pay dividends? Would you prefer a stock dividend or a cash dividend? Why?
Assuming all sales were made on account, compute the ending accounts receivable balance that should appear in the ledger, noting any apparent shortage. Then, draft a memo dated October 3, 2010, to Mark Price, the branch manager, explaining the fac..
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