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Gordon paid the $10000 balance of his federal income tax three months late. Ignore daily compounding of interest. Determine the interest rate that applies relative to this amount, assuming that:
A. Gordon is an individual.B. Gordon is a C corporation.C. The $10000 is not a tax that is due but is a refund payable by the IRS to Gordon (an individual).D. The $10000 is not a tax that is due but is a refund payable by the IRS to Gordon (a C corporation).
Explain how shaving 5% off the estimated direct labor hours in the base of the predetermined overhead rate usually results in a big boost in the net operating income at the end of the year.
What major benefits do corporations and investors enjoy due to the existence of organized security exchanges?
Which of the following is the best theoretical justification for consolidated financial statements?
Hassan Headgear is a baseball cap shop in Santa Cruz, CA, that began business on April 13, 2008. The company had the following inventory purchase records for the month.
Wilson Wonders' bonds have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 10%. The bonds sell at a price of $850. What is their yield to maturity?
Which is better, statistical sampling or non-statistical sampling? Why? Should Generally Accepted Auditing Standards prescribe specific risk levels that auditors must use? Why or why not?
Could a company lose to a competitor if they do not have real time online perpetual inventory records to provide answers to customers that are trying to place an order?
Jon Johnson an accountant with local CPA firm, has just completed an inventory count for Mom & Pop's Groceries. Mom and Pop provide audited financial statements to their bank annually, and part of that audit requires an inventory count.
Determine how the company Coca cola could best allocate costs to divisions, plants, departments, contracts, and / or products. Explain your rationale.
A local finance company quotes a 16.8 percent interest rate on one-year loans. So, if you borrow $30,000, the interest for the year will be $5,040. Because you must repay a total of $35,040 in one year, the finance company requires you to pay $35,..
Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a cost of $14,000.
How much should the town report as property tax revenue in its General Fund statements for the year 2009?
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