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The company has decided to restructure the operations at one of its stores. As part of this restructuring, the company has determined that the store facility is impaired. The store originally cost $3,000,000 and has accumulated depreciation of $1,300,000. The fair value of the store is determined to be $800,000. In addition, 32 employees at the store are being terminated as part of the severance package, each employee is entitled to job training benefits (costing $500 per employee) and two month's salary (averaging $5,000 per employee). Make the journal entry or entries necessary to record this restructuring.
At December 31, 2008, the trial balance of Worcester Company contained the following amounts before adjustment. Based on the information given, which method of accounting for bad debts is Worcester Company using-the direct write-off method or the a..
The Carlton Corporation has $4 million in earnings after taxes and 1 million shares outstanding. The stock trades at a P/E ratio of 20. THE firm has $3 million in excess cash.
What are your thoughts on the three proposals outlined above, and please feel free to suggest anything that you feel should also be considered in reducing the deficit.
evaluate the opportunity costs for Damien Chrysler for failure to accept a proposal from within to manufacture a vehicle for the Indian market and suggest ways that opportunity cost can be minimized.
Why is determining cost to manufacture a product quite a different activity from determining how to control such costs?
The benefits of comparing actual performance of the operations against planned goals include all of the following except:
On January 1, Hurley Corporation issues $2,000,000, 5-year, 12% bonds at 96 with interest payable on July 1 and January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line metho..
Define a product-harm crisis. Identify the factors that contribute to a product-harm crisis. Compare and contrast the findings of the various studies on product-harm crisis.
Accompanying the bank statement was a debit memorandum for bank service charges. On the bank reconciliation, the item:
The Amount Budgeted factory overhead 675,000 Budgeted machine hours 20,000 Actual direct labor cost 482,000 Budegeted direct labor costs 450,000 If the company uses estimated direct labor costs as its activity base Whats the overhead application r..
Brandywine Homecare, a not-for-profit business, had revenues of 12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million.
Angie invested $50,000 she received from her grandmother today in a fund that is expected to earn 10% per annum. To what amount should the investment grow in five years if interest is compounded semi-annually?
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