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Four Flags is a retail department store. On January 1, 2012, Four Flags' accountants used the following data to develop the master budget for Four Flags for 2012:
Expected unit sales in 2012 were 1,250,000, and 2012 total revenue was expected to be $12,500,000. Actual 2012 unit sales turned out to be 1,000,000, and total revenue was $10,000,000. Actual total costs in 2012 were:
Required: Compute the flexible-budget variances for the following two cost items (enter favorable variances as positive numbers and unfavorable variances as negative numbers):
When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest?
What is meant by economic income in relation to the discounted income method?
Assume an organization has total current assets of $200,000, total current liabilities of $75,000, inventories of $50,000, prepaid expenses of $25,000, net sales of $770,000, and beginning accounts receivable of $42,000 and ending accounts receiva..
kyle worked as a free-lance software engineer for the first three months of 2013. during that time he earned 44000 of
manuel inc. reported net income of 2.50 million in 2014. depreciation for the year was 160000 accounts receivable
Decide if either of these actions is warranted in your particular case and state why you think that way.
Several years ago the Haverford Company sold $1,000 par value bond that now has 25 years to maturity and an 8.00% annual coupon that is paid quarterly.
Justin and Tiffany form the equal TJ Partnership. Justin contributes cash of $300,000. Tiffany contributes property with an adjusted basis of $200,000 and a fair market value of $300,000.
Kordel Inc. holds 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be elimi..
Journalize all entries for Synergy Bank related to the note for 2012 and 2013 - How much in total would Kelsing pay the bank if she pays off the note early on April 30, 2013?
Several laws, post recently Sarbanes-Oxley, have provided provisions requiring high ranking officials to certify that they have acted ethically in corporate governance and financial reporting. How effective are such laws in protecting the public? ..
In 2009, Magic Table Inc. decides to add a 36-month warranty on its new product sales. Warranty costs are tax deductible when claims are settled. In its financial statements for 2009, Magic Table Inc incurs:
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