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An apartment complex included a fixed price of water in the monthly rent. One day the city decided to attach a water meter to each individual apartment and charge the tenant for actual water usage. As a result, water usage in the apartment complex went way down. Explain this situation using a basic economic principle.
Multiple choice questions on intangible assets, net income and ratios - classification errors by an accountant and would have an effect on net income of the current year?
Determine the five costs listed in the terms of their behavior: variable, step-variable, committed fixed, discretionary fixed, step-fixed, or semi variable. Show calculations to support your answers for mining labor/fringe benefits and royalties.
windsor advertising company's trial balance for december 31 shows advertising supplies $6700 and advertising supplies expense $0.on December 31,there are 2700 of supplies on hand. prepare the adjusting entry at December 31.
If no special allocations are made, what portion of the reduced tax rate benefits of Sec. 11(b) can be claimed in the current year by the affiliated group? In future years?
What controls might be implemented to discourage the overstatement of capital budgeting estimates by division manager?
If similar equipment would cost $150,000 to replace and the partners agree on a valuation of $40,000 for the contributed equipment, what amount should be debited to the equipment account?
The firm earned 423,300. The partners to share income by providing annual salary allowances of 39,000 to kim. 34,000 to tere. and 46,000 to josh. Granting 10 percent interest on the partners beginning capital investements and sharing the remainder..
There is no doubt that Swift is guilty and the settlement is reasonably estimable at $10 billion payable evenly over 10 years starting next year. E xplain b riefly how Swift would address this in its current year financial statements.
james, age 17, is claimed by her parents as a dependant, during 2011, she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200. how much will be James' taxable incom?
Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2011?
A total of 80,000 units were produced and sold last month. How many units would company have to sell to achieve a desired profit of $1,200,000?
Using general price level accounting, in Year 22, what is restated value of the building purchased in Year 10?
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