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Dokes, Inc. is considering the purchase of a machine that would cost $440,000 and would last for 9 years. At the end of 9 years, the machine would have a salvage value of $62,000. The machine would reduce labor and other costs by $81,000 per year. Additional working capital of $8,000 would be needed immediately. All of this working capital would be recovered at the end of the life of the machine. The company requires a minimum pretax return of 13% on all investment projects. The net present value of the proposed project is closest to:
A. -$24,308
B. -$8,998
C. -$27,030
D. -$3,662
When the auditor is unable to obtain sufficient, competent evidence concerning the beginning inventory, which is material, the report is modified by adding an explanatory paragraph prior to the opinion paragraph and appropriate modification to the..
Chase Bank loans P+P Company $120,000 on a 1 year promissory note on July 1, 2009. The interest rate of this loan is 12%. The principle and interest are due in one year. The journal entry to accrue interest earned on 12-31-09 is:
If the expected sales volume for the current period is 7,000 units, the desired ending inventory is 200 units, and the beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the ..
What the bookkeeper did was definitely unethical. But what if one of her grandchildren had been ill and needed an expensive operation? If this had been the case, would it have been ethical for her to take company funds to pay for the operation if ..
Swagelok Enterprises is manufacturer of miniature fittings and valves. Over a 5-year period, the costs associated with one product line were given below:
Explain the difference between the cash basis and accrual basis of accounting. Explain the difference between the cash basis and accrual basis of accounting?
An increase in the activity level within the relevant range results in:
What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
Mary has a three-stock portfolio and is interested in estimating its overall return next year. She has $25,000 invested in Orange Corp-Calculate the portfolio beta and then apply the SML.
LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?
There is no minimum gain related to the nonrecourse liability. During the year the partnership incurs a $120,000 loss. How much of the loss can Karen report on her tax return for the current year?
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