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Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the estimated residual value was $4,000. After using the straight-line method of depreciation for 3 years, the estimated useful life was revised to 9 years on January 1, 2015. How much is depreciation expense for 2015?
Income statement, Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax rate was 40 percent.
a. What is the net present value of this investment opportunity? b. Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?
Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decimal points) are:
Alpha paid five days past the discount period.
All of the 2009 loss can be carried back against the income of 2007 and 2008 for purposes of determining the company's 2009 income tax liability. How should the carryback be presented in the company's 2009 financial statements?
Prepare a schedule of cost of goods manufacturing for the company for the month. Left align all rows for formatting purposes.
3. Determine the appropriate journal entries to account for the two hedging relationships for the year ended December 31, 2009. Use the details below to aid in entry determination, and assume that both hedging relationships are perfectly effective..
the primary objective in job order costing is to determine the cost of materials labor and factory overhead used to
Lyndon, age 24, has a nonworking spouse and earns wages of $36,000. He also received rental income of $5,000 and dividend income of $900 for the year. What is the maximum amount Lyndon can deduct for contributions to his and his wife's individual ..
a manufacturer for stylish clothing for teenagers. the firm has a beta of 1.4 and earned a return on equity of 20 last
The Feldbrand Corporation purchases 1,000 shares of IBM at $100 and 1,000 shares of Bell Labs at $125. It receives dividends of $1.00 per share on all shares. Prepare all the necessary entries for this information.
The ability to develop and use good management accounting is actually an important ability for many individuals, including finance professionals, operational and marketing managers, top-level executives, and information technologists.
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