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Williamson Group operates a chain of bookstores. A recent business expansion plan resulted in the opening of more than 25 new stores. The Upland store has one more feature that the Stowe store does not have-a small coffe shop. Early indications are that the coffee shop has driven up the location's revenues and profits. Operating data for two of these stores is provided below:
Upland Stowe
ROI 18.75% 14.0%
Net operating income ? ?
Minimum required return 15% 15%
Average operating assets $200,000 $150,000
Residual income ? ?
A) Calculate net operating income and residual income for each division.
B) Compare the two divisions and discuss the usefulness of ROI and residual income for the purpose of comparing the divisions.
During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?
Define planning, organizing, and controlling and then explain why the phases of planning, organizing, and controlling are referred to as a continuous cycle?
Discuss and explain the role of the financial accounting and managerial accounting functions in organizations and some of their job responsibilities.
Werner Chemical, Inc., leased a protein analyzer on September 30, 2013-Depreciation is recorded on a straight-line basis at the end of each fiscal year. The useful life of the equipment is five years.
Sally incurred a 90-mile round-trip commute every day, mainly because she could not get along with her supervisor at the sales office located four miles from her home. Sally works under a one-year contract
Compute the predetermined overhead rate. Compute the overhead applied. Find out the amount of overhead that is over or under applied.
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above. (In other words, they decide not to pay for the license.)
Prepare a pro forma balance sheet dated December 31, 2008. Discuss the financing changes suggested by the statement prepared in part A.
Chris White was a forestry technician who had been searching for several years for a business opportunity to combine with his forestry career
Which of the following is an example of a variable cost?
When owners invest money in their business, the effect on the accounting equation is that the investment: The journal entry to record the payment of wages in the amount of $52,000 to workers could include a:
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