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Steven Company owns 40% of the outstanding voting common stock of Nicole Corp. and has the ability to significantly influence the investee's operations. On January 3,2009,the balance in the Investment in Nicole Corp. account was $503,000. Amortization associated with this acquisition is $12,000 per year. During 2009,Nicole earned net income of $120,000 and paid cash dividends of $40,000. Previously in 2008,Nicole had sold inventory costing $35,000 to Steven for $50,000. All but 25% of that inventory had been sold to outsiders by Steven during 2008. Additional sales were made to Steven in 2009 at a transfer price of $75,000 that had cost Nicole $54,000. Only 10% of the 2009 purchases had not been sold to outsiders by the end of 2009. What amount of unrealized inter-company inventory profit should be deferred by Steven at December 31,2008?
Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?
The city purchased new computer equipment costing $19,000 by paying $3,000 in cash and signing a long-term note payable for $16,000.
Preparation of journal entries and adjusting entries for a publisher of magazine and journal entries to record the newsstand sales and subscriptions received.
Preparation of income statement and deriving operating cash flows and For the month of August, 2006, net cash flows from operating activities for Waldorf were?
Prepare the September 9 entry to establish the fund and (2) the September30 entry to both reimburse the fund and reduce it to $300.
Determine of company's net operating income and quantitative accounting analysis.
Financial statement analysis - Is application of analytical tools to general-purpose financial statements and associated data for making business decisions.
Prepare a direct costing (Variable) income statement to show the change in profits if the proposed stand-by plan is put into effect. and How many tickets must be sold at the $330 price to cover fixed costs?
Illustrate what is the amount of owner's equity as of July 1 of the current year?
Explain how the annual report differs from the 10-K. What is contained in the yearly report that is not in the 10-K? What is contained in the 10-K that is not in the annual report
Purchased inventory on account and Sold inventory below its cost at a loss
If the risk free rate is 4.0%, determine the expected return on this stock?
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