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Question - The owner of a bicycle repair shop forecasts revenues of $220,000 a year. Variable costs will be $65,000, and rental costs for the shop are $45,000 a year. Depreciation on the repair tools will be $25,000.
a. Prepare an income statement for the shop based on these estimates. The tax rate is 20%.
b. Calculate the operating cash flow for the repair shop using the three methods given below:
Now calculate the operating cash flow.
-Dollars in minus dollars out.
-Adjusted accounting profits.
-Add back depreciation tax shield.
Write a brief report explaining the reason or reasons that best explain why Alcoa uses the LIFO cost flow method for its inventories kept in the United States and Canada, but the average cost method for its other inventories.
ACC2233 - Compute the costs per equivalent unit for November for the first process and Determine the total cost of ending work in process inventory
On January 1, 2015, the balance in the Work-in-Process inventory account is $12,000. Cost of goods manufactured is $290,000. How much is cost of goods sold?
What is the annual compound rate of growth in the value of the bonds? By what percent will the price of the bonds increase between now and maturity?
CASE STUDY ON AUDITING AND ASSURANCE
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Carpenter Corporation uses the weighted-average, How many units are in ending work in process inventory in first processing department at the end of the month?
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Explain the process it would use to make a master budget. How would the budget process for the service company differ from a manufacturing company? Be specific
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