How many returns does this liberty tax office

Assignment Help Accounting Basics
Reference no: EM131794409

Liberty Tax is one of the fastest growing franchises in America. A Liberty Tax franchise costs about $40,000. The owner at the Wheaton Mall franchise was charged $50,000 for rent annually and $110,000 for marketing and employees expenses each year. Liberty Tax charges its clients about $250 per tax return. How many returns does this Liberty Tax office need to have to break even?

Reference no: EM131794409

Questions Cloud

At what sales volume would the two stores have equal profits : Store B has fixed costs of $200,000 per month and a variable cost ratio of 30%. At what sales volume would the two stores have equal profits
What is the cash flow from assets : Precision Manufacturing had the following operating results for 2014: sales = $38,900; cost of goods sold = $24,600; depreciation expense = $1,700.
Will atoms move from a concave region to a convex region : Explain both in terms of the force equations for reflow as well as in terms of the atomistic picture.
What does the term noncontrolling interest mean : What does the term noncontrolling interest mean? Where should the noncontrolling interests claims be reported in a consolidated set of financial statements
How many returns does this liberty tax office : How many returns does this Liberty Tax office need to have to break even
What ethical challenges can a company face : How does the concept of limited liability impact business decisions - What ethical challenges can a company face while issuing stock other than cash
Calculate the average grain radius : Calculate the average grain radius after 60 minutes of grain growth. Assume the initial grain size is zero.
Directly to your heir immediately by contract at your death : Which of the following types of property would not go directly to your heir immediately by contract at your death?
Prepare a schedule to show the balance in investment account : Assuming that Jumper decided to use the partial equity method, prepare a schedule to show the balance in the investment account at the end of 2011

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mitchells softball gloves company estimated the following

mitchells softball gloves company estimated the following at the beginning of the year assembly department testing

  Under the indirect method of determining net cash provided

under the indirect method of determining net cash provided by operating activities on the statement of cash flows which

  The statement of cash flows using the indirect method

Prepare the operating activities section of the statement of cash flows using the indirect method.

  Johnson corporation issued a two year note due

On January 1, 2010, the Johnson Corporation issued a two year note due December 31, 2011, with a face value of $10,000, receiving $7,694.68 in exchange.

  Which accounts are most susceptible to overstatement

Risk of Misstatement in Various Accounts. An auditor must identify the relevant assertions about each significant financial statement account and disclosure.

  How many orders will be placed during the year

What is the economic ordering quantity? How many orders will be placed during the year? What will the average inventory be? What is the total cost of ordering?

  Determine earnings per share of common stock

Determine the earnings per share of common stock, assuming income before bond interest and income tax is $750,000. Enter answers in dollars and cents, rounding to the nearest whole cent.

  Profitability ratios-trading on the equity

Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7:

  Valuation by us gaap and ifrs

Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, briefly:

  What is the total overhead variance

Sweet Dreams manufactures candy. Its records revealed the following.

  Direct-material price variance

Assume that the company computes variances at the earliest point in time. Taylor's direct-material price variance was:

  Primary method to corroborate information on litigation

What is an auditor's primary method to corroborate information on litigation, claims, and assessments?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd