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Burger Corp has $500,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $600,000, and its net income after taxes was $25,000. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would Burger need in order to achieve the 15% ROE, holding everything else constant?
What effect do subsidiary treasury stock holdings have at the time the subsidiary is acquired? How should the treasury stock be treated on consolidated work papers?
Garden Corporation engaged in the following transaction. Indicate where, if at all, it would be classified on the statement of cash flows. Assume the indirect method is used.
On February 1, 2011, Charo Mendez purchased 6% bonds issued by CR Utilities at a cost of $30,000, which is their par value. The bonds pay interest semiannually on July 31 and January 31. For 2011, prepare entries to record Mendez's July 31 receipt..
The Partnership of D, E, and F has the following account balances just prior to the liquidation of the partnership: Cash, $90,000; Noncash Assets, $570,000; Liabilities, $300,000: D, Capital, $120,000; E, Capital, $180,000; and F, Capital, $60,000..
Which of the following accounting treatments is proper for a change in reporting entity?
Calculate and write in general journal format any entries for accounts needing adjustment. Calculate and write in general journal format closing entries and post to "T" accounts. Complete an Income Statement and Balance Sheet for month end.
If a fixed asset, such as a computer, were purchased on January 1st for $1,950 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is:
The production budget shows planned sales of 32,000. Beginning inventory is 5,600. Units to be produced are 33,600. What is the desired ending inventory?
There are situations wherein a company faces a potential liability, but is not certain of all of the details associated with such potential liabilities.
Some companies implement systems to reduce defects in finished products with the goal of achieving zero defects. What are these systems called?
Jackson Corporations have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1000 par value and the coupon interest rate is 8%. The bonds have a yield to maturity of 9%.
The Walstore Shoe Market had $1,875,000 of shoe sales and its cost for these shoes was $688,000. In addition, the Shoe Market received $5,000 of corporate bond interest and $6,000 of interest on State of California bonds.
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