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A department store has budgeted cost of sales of $36,000 for its men's suits in March. Management also wants to have $15,000 of men's suits in inventory at the end of March to prepare for the summer season. Beginning inventory of men's suits for March is expected to be $9,000. What dollar amount of men's suits should be purchased in March?
Juan's Taco Corporation has restauraunts in five college towns. Juan wants to expand into Austin and College Station and needs a bank loan to do this. Mr. Bryan, the banker,.
Sam pays $10,000 for the business's goodwill and another $10,000 for the seller's covenant not to compete for the next five years. Compute Sam's amortization deduction for the year of purchase.
A small business owner holds $4,000 in cash; $1,200 in materials; $10,000 in land and $32,000 in plant and equipment. His accounts payable total $9,000 and he has an outstanding bank loan totaling $18,800. what is the owners equity?
Describe the reasons why corporations invest in securities. Describe how the market would be affected if they stopped this practice?
Determine the depreciation and book value for each of the two investment groups for each year. Determine the gain/loss for tax purposes If the Group 5 and Group 7 assets are sold at the end of the planning period for a combined $500,000.
Explain the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
Dunn Corporation's taxable income is less than $40,000. The corporation is not eligible for the AMT small corporation exemption. The CPA preparing the return does not calculate the AMT because he knows that taxable income is less than the AMT stat..
Preparation of a classified balance sheet-From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Using Delta Airlines, discuss the portfolio associated with it (other products or services offered by the same company). Think of the associated products and apply them to the Boston Consulting Group's portfolio analysis grid. Which ones are stars..
What do following risk categories mean - planned detection risk, inherent risk, control risk, acceptable audit risk? Examples? How do we as auditors deal with them?
In November 2006 after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided to not pursue the offer to supply cookies to Biscuits. Instead she will focus on offering cooking classes. The following events occur. Pre..
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