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An engineer planning for her retirement will deposit 15% of her salary each year into a stock found. The initial balance in her stock found (year 0) is $5,000. If her salary this year is $100,000 (end of year 1) and she expects her salary to increase by 5% each year, what will be the future worth of the found after 20 years if it earns 15% per year?
What factors may cause variation from client to client and industry to industry with respect to auditing tests?
A company has sales of $5,537,000, a gross profit ratio of 35%, ending merchandise inventory of $261,425, and total current assets of $3,039,600. What is the days sales' in inventory ratio for the year?
On September 1, 2018, PPP Corporation acquired SSS Enterprises for a cash payment of $820,000. At the time of purchases, SSS's balance sheet showed assets of $610,000, liabilities of $240,000, and owner's equity of $420,000. The fair value of the acq..
its expected life is eight years.Instructions Compute depreciation expense for 2010 and 2011 by each of the following methods,showing the figures used. (a) Double-declining balance (b) Sum-of-the-years'-digits
Discuss the actions and behaviour of Mr James W. Bend as a director and shareholder of World-wide Workers (Pty) Ltd, and identify, with reasons - Evaluate the management incentive scheme for the executive directors of World-wide Workers
Willie Lowman is the internal auditor for Dead Salesman Printing, a book printing company. In the book printing business, a printer is constantly distributing books then taking books back in return. From an accounting perspective, the company is cons..
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2013, the end of the company’s fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,106; cost of goods sold, $1,240; selling expens..
Hardin Widget Manufacturing began operations in January 2013. Hardin sells widgets that carry a two-year manufacturer's warranty against defects in workmanship. Hardin's management projects that 3% of the widgets will require repair during the first ..
Prepare the entry required on December 31, 2013, to record the payment of the first 6 months' interest and the amortization of premium on the bonds.
The comparative financial statements of New World Piano Company for 20X3, 20X2, and 20X1 included the following selected data: Current ratio. Acid-test Ratio. Days' sales in receivables. Write an explanation to which ratio caules showed improvement ..
Question:Discuss the differences that would arise in the consolidated financial statements if the non-controlling interests were classified as debt rather than equity, and the reasons the standard setters have chosen the equity classification in A..
What is a difference between the profit margin and the gross profit rate?
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