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X and Y have original investments of $47,176 and $107,850 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $28,803 and $30,420 respectively, and the remainder equally. How much of the net income of $118,415 is allocated to X?
Another employee argued that a Private Purpose Trust Fund should be used for both principal and income. Do you agree with either of these individuals, or do you have a better suggestion?
Evaluate the net present value of each project assuming Monson Company uses a 12% discount rate.
Evaluate the total overhead applied to production during May. Determine the cost of the ending work in process inventory. Evaluate the cost of jobs completed during May. Calculate the cost of goods sold for the year ended May 31.
Assume earnings subject to state and federal unemployment compensation taxes are $5,250 at the federal rate of 0.8% and state rate of 5.4%. What are the journal entry to record the payroll tax expense for the period.
Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost of goods sold for the year was $450,000. What was Alliance's receivables turnover ratio (rounded) for 2011?
There was no payment of dividends to owners during the year. What was the amount of the change in total stockholders' equity during the year?
Provide specific examples of accounting information that might be useful in assessing Michael Porter's cost leadership competitive strategy.
Classification of cost in to variable, fixed, period, product, direct and indirect.
Rensing, Inc., has $800,000 of 6 percent preferred stock and $1,200,000 of common stock outstanding, each having a par value of $10 per share
Gardner Corporation purchased a truck at the beginning of 2012 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles. It was driven 18,000 miles in 2012 and 32,000 miles in 2013. What is the depr..
The controller, Dona Ortiz, is preparing a report estimating any expected cost savings and changes to the accounting system resilting from a move to JIT. What are some of costs that should be affected by the introduction of a JIT system?
Assuming all of the containers produced by the bottle Division can be sold to outside companies, which of the following is the range at which a negotiated transfer price among the two divisions should occur?
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