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Presented below is information related to Tidal Wave Company. Retained earnings, December 31, 20X2 $ 2,350,000 Sales 2,600,000 Selling and administrative expenses 240,000 Earthquake loss (pre-tax) on plant (extraordinary item) 250,000 Cash dividends declared on common stock 53,600 Cost of good sold 1,000,000 Gain resulting from computation error on depreciation charge in 2009 (pre-tax) 520,000 Other revenue 80,000 Other expenses 50,000 Instructions: Prepare in good form a multiple-step income statement for the year 20X2. Assume a 30% tax rate and that 100,000 shares of common stock were outstanding during the year.
Calculation of direct material price variance and The company purchased 3,000 yards of material in March for $21,000. The company used 2,800 yards in March in order to make 7,700 dresses. The direct materials price variance is?
Effective April 1, 2004, The Bloomington Corporation, which has a December 31st year-end, authorized $1,500,000 of callable, mortgage bonds (secured by $2,200,000 of property and equipment, at market value). Prepare the journal entries related to the..
Tandem Industries purchased a patent on January 1, 2014, for $2,000,000. The patent's legal life is 20 years but the company estimates that the patent's useful life will only be 5 years from the date of acquisition. On June 30, 2014, the company paid..
Prepare the cash flows from operating activities using the indirect method-Cash Flow from operating activities
what are the two sources of incomerevenues in 2011?what are the three categories of operating expenses reported for
BamBoo Furniture customers view and make furniture selections on the show room floor. Employees check item availability using the enterprise database. If the items are available in the warehouse, the employee obtains the customer information to place..
Compute the weighted-average contribution margin per ticket and calculate the total number of tickets Wet Weekend must sell to break even.
What is the meaning of "discounted value of expected net receipts and what basis of valuation for Ferry's patents would be generally accepted in accounting? Give supporting reasons for this basis.
What is a value chain? Sketch the significant processes in the value chain for a local franchise of Starbucks. How does the local franchise fit into the larger value chain for Starbucks as a whole?
What is the amount of property and equipment on the balance sheet for the two most recent years? What is the amount of depreciation expense? What amounts are on the cash flow statement for the most recent year that relate to depreciation, gains and s..
selecting a for-profit organization of interest you will research an unusual or conflicting accounting principle that
Leo Lion Corporation allocates manufacturing overhead based on machine hours. Illustrate what is Leo Lion Corporation's predetermined manufacturing overhead cost (round to the nearest penny)?
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