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Flights, Inc., is considering buying some specialized machinerythat would enable the company to obtain a six-year governmentcontract for the design and engineering of a futuristic plane. Themachinery costs $975,000 and must be destroyed for security reasonsat the end of the six-year contract period. The estimated annualoperating results of the project are as follows:
All revenue from the contract and all expenses (except depreciation) will be received or paid in cash in the same period as recognized for accounting purposes. You are to compute the following three factors for this project:
(a) Payback period: __________years
(b) Return on average investment:__________%
(c) Net present value of the investment in this machinery, discounted at an annual rate of 12% (an annuitytable shows that the present value of $1 received annually for sixyears discounted at 12% is 4.111): $__________
Kettle Company has sales of $450,000, operating income of $250,000 average invested assets of $800,000, and a hurdle rate of 10 percent. Calculate Kettle's return on investment and its residual income.
The Clydesdale Company has sales of $4,500,000. It also has invested assets of $2,000,000 and operating expenses of $3,600,000. The company has established a minimum rate of return of 7%.
Which of the following situations best describes a business combination to be accounted for as a statutory merger?
A lead partner is a local accounting firm, whose practice consists of tax consulting and compliance, serves clients by providing write-up and payroll processing services. As his firm grows, he has developed various ways to build its business.
Bubble Corporation manufactures two products, I and II, from a joint process. A single production costs $4,000 and results in 100 units of I and 400 units of II. To be ready for sale, both products must be processed further, incurring separable co..
Compute the noncontrolling interest in the subsidiary's net income for 2013.
presented below are the financial balances for the atwood company and the franz company as of december 31 2009
What is Omega's charitable contributions deduction for the current year and its charitable contributions carryover to next year, if any?
sharp companycomparative balance sheetdecember 312011 2010cash 64000 36000accounts receivable
Joshua Thorp opened Laser Co. on January 1, 2011. At the end of the first year, the business needed additional funds. On behalf of Laser, Joshua applied to Vermont National Bank for a loan of $500,000. Based on Laser financial statements, which ha..
Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill?
At the end of your accounting cycle, you have $500,000 in customer deposits. How do you state and properly account for this activity in your financial statements?
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