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Point 1: Doc Jones owns Doc's coffee shop, and his accountant has told him that his total fixed costs to run his business in a very nice upscale business-oriented neighborhood, excluding his salary, are $15,000 per month. Doc is in competition with a Seattle's coffee shop just down the block. Consequently, his prices are about the same as theirs. He has calculated that the average cup of coffee cost him $1.87 cents, which includes the coffee, the cup and condiments, such as sugar, sweetener, creams, napkins, and stir sticks.
Point 2: His average selling price is $4.85 per cup. He currently sells 8,000 cups of coffee per month. Doc has figured that if he lowers his price by $1.00 per cup, he would increase his sales to 11,000 cups per month and make more money. Doc wants to earn $4,000 monthly salary.
Question 1: Approximately how many cups under each scenario must he sell?
Hardin Company received $80,000 in cash and a used computer with a fair value of $240,000 from Page Corporation for Hardin Company's existing computer having a fair value of $320,000 and an undepreciated cost of $300,000 recorded on its books.
Determine the guiding accounting rule that helps ascertain which costs are capitalized in connection with property and equipment and which are expensed.
The fund pays interest at 5% compounded annually. What is the balance of the fund at the end of 2010 (after the 2010 deposit)? Show your work.
Compute the bond interest expense for the first six months of 2012, using the interest method. Show how the $1,400,605 price must have been determined.
Compute the current ratio, quick ratio, receivables turnover, days' sales uncollected, inventory turnover, days' inventory on hand, payables turnover, days' payable for each year, and financing period.
How each of the following events or series of events and the related adjusting entry will affect the amount of net income and the amount of cash flow from operating activities reported on the year-end financial statements. Identify the direction of c..
1.Gas production and reserves are always converted to Barrel of Oil equivalents in the financial statements.
Journalize and post the adjusting entries. Journalize and post the closing entries. Prepare a post-closing trial balance at January 31, 2017.
If you were an investor in Home Depot ’ s stock, would you be unhappy because your dividends represented such a small percentage of the company’s net income? Why do you think Home Depot is paying out?
During 2013, Durham Manufacturing expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost. Actual production required an overhead cost of $290,000, $550,000 in..
What are the problems associated with dependence on human information processing and paper documentation? Explain your response. Illustrate the advantages and disadvantages of using real-time versus batch accounting information architecture?
this week you will be starting work on your final project for this module. the purpose of the final project is to apply
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