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Sarah Crowly uses the cash receipts method of accounting for her accounting business. On December 25, 2011, she received a $1,000 check in payment for her services. The following year she was told that the check had bounced. One client offered to give her a check for $500 on December 31, 2011, but Sarah asked him to give it to her the next year, which the client did. Another client gave her a check for $750 on December 31, 2011, but after the bank had closed. Both the $500 and $750 checks cleared the next year.
How much does Sarah have to include in her gross income for 2011?
Assume that both X and Y are well-diversified portfolios and the risk-free rate is 8%. In this situation, you would conclude that portfolios X and Y.
Purpose absorption and contribution margin income statements for the succeeding quarter for the division. Evaluate production costs per unit for both approaches and for both quarters.
Calculation of payback period of the project and comment on its liquidity and Use the payback method to calculate how many years it will take for each project to recoup the initial investment, Which project would you consider most liquid?
Prepare a pro forma balance sheet dated December 31, 2008 and show the financing changes suggested by the statement prepared in part A
The shift in the amount of manufacturing overhead costs applied to the mix of products produced that occurs when using a single cost driver rate as compared to using activity-based costing rates
Adjusted for investee net income and dividends as agreed by the equity method. After implementing the change to equity method, if financial statements were prepared
How much overhead should be applied to the above customer order? After executing activity-based costing (ABC), the company's accountant identified the subsequent related information:
In its applicable financial statements, Orange reported $4,000 in 2009, $24,000 in 2010 and $20,000 in 2011 as gross revenues. Explain how much of the $48,000 must Orange recognize for federal tax purposes in 2009, 2010 and 2011
Classify the costs as either variable or fixed costs. Assume there are no mixed costs. Enter the dollar amount of each cost in the appropriate column and total each classification.
Calculate the net present value of this investment using a cost of capital of 16%. Based on this analysis, would the investment be made? Explain your answer.
Should Obbo and Hanley keep quiet? What other options are open to them? How should Knightly have dealt with Obbo's and Hanley's complaints
Determined with absorption costing and direct costing and When the high-low method of estimating a cost behavior pattern
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