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Louis Gallo owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr. Gallo to offer frozen yogurt to customers. The machine would cost $8,100 and has an ex- pected useful life of three years with no salvage value. Additional annual cash revenues and cash operating expenses associated with selling yogurt are expected to be $5,940 and $900, respectively. Alternatively, Mr. Gallo could purchase for $10,080 the equipment necessary to serve cap- puccino. That equipment has an expected useful life of four years and no salvage value. Addi- tional annual cash revenues and cash operating expenses associated with selling cappuccino are expected to be $8,280 and $2,430, respectively. Income before taxes earned by the ice cream parlor is taxed at an effective rate of 20 percent. Required a. Determine the payback period and unadjusted rate of return for each alternative. b. Indicate which investment alternative you would recommend. Explain your choice.
Your hospital has the following revenue for the months of July-September: July $2,000,000 August $3,000,000 September $4,000,000. If 30% of the month's revenue is collected in the same month, 40% is collected in the second month and 30% is collect..
Prepare summary journal entries to record the requisition slips, time tickets, the assignment of manufacturing overhead to jobs, and the completion of Job No. 329. Show computations.
Identify drivers of those activities, bearing in mind that it must be easy to measure and record the values of the drivers. Do you see any potential benefit in implementing ABC for Netflix?
The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 22,000 machine-hours and incur $264,000 in manufacturing overhead cost. The follow..
Kaiser's Kraft Korner sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, $28,000 of variable costs, and $12,000 of fixed costs. Contribution margin per unit is:
The township authorized a bond issue of $11 million for the construction of a pedestrian walkway as part of a downtown revitalization project. An additional $1 million of general revenues is to be used for the project. The authorization was record..
suppose that a nursing home has two categories of payers. medicaid pays 60 per day and private-pay patients pay the
How did the acquisition of Internode affect iiNet? You should briefly discuss the impacts in different aspects, e.g., how iiNet's liquidity and solvency was affected. Overall, do you think the acquisition was beneficial to iiNet? Provide your reasons..
Prepare the journal entry to record Autumn Company's issuance of 63,000 share of no-par value common stock assuming the shares;
The Austin Land Company sold land for $85,000 in cash. The land was originally purchased for $65,000, and at the time of the sale, $40,000 was still owed to Regions Bank on that purchase. After the sale, The Austin Land Company paid off the loan t..
Prepare a July income statement, statement of owner's equity, and balance sheet and from the worksheet, journalize and post adjusting and closing entries.
the press report carried the following news item general motors ford and chrysler are expected to post losses on
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