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Balance sheet and income statement data indicate the following:
Bonds payable, 8% (issued 1990, due 2015) $1,200,000Preferred 8% stock, $100 par (no change during the year) 200,000Common stock, $50 par (no change during the year) 1,000,000Income before income tax for year 320,000Income tax for year 80,000Common dividends paid 60,000Preferred dividends paid 16,000
Based on the data presented above, what is the number of times bond interest charges were earned (round to two decimal places)?
What do following risk categories mean - planned detection risk, inherent risk, control risk, acceptable audit risk? Examples? How do we as auditors deal with them?
You are a Branch Manager and your office saw 2,500 patients in January 2012. From historical data, you know each month you add exactly 160 new patients and this trend will continue indefinitely.
What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents?
When the auditor has the same level of willingness to risk that material misstatements will exist after the audit is finished for all financial statement cycles:
Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
The Accountant's Role in the Organization.
Actual selling price: $7.50, $10.50. Budgeted selling price: $5.50, $10.50. Actual Sales Mix: 69%, 31%. Budgeted Sales Mix: 75%, 25%. What is the total sales-volume variance of revenues?
Total payroll was $480,000, of which $110,000 is exempt fro mSocial Security tax because it represented amounts paid in excess of $90,000 to certain employees. Prepare the necessary journal entries if the wages and salaries paid and the employer p..
Prepare the general journal entries for Korman Company for:(a) the 2010 adjusting entry.(b) the sale of the Thomas Corp. stock.(c) the purchase of the Werth Stores' stock.(d) the 2011 adjusting entry
Clancey Inc. issues $2,085,500 of 7% bonds due in 14 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%. What amount will Clancey receive when it issues the bonds?
As a potential investor in the shares of multi-national enterprises, which inflation method, restate-translate or translate-restate, would give you decision needs? Which information set is best from the viewpoint of foreign subsidiary's shareholde..
If the current assets in 2010 were 112,004 and in 2009 the current assets were 113,030 the change is -1,026. That would mean the percent of change is -.009%. Is this correct? Can a percent of change be negative? If so, is this the proper way to wr..
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