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If the demand for 'catnip' increases:
A. The supply of 'catnip' must have gone up
B. The incomes of cat owners must have gone up.
C. The number of cat owners has gone down.
D. The price of rubber mice, a substitute for 'catnip', has decreased.
E. None of the above
The Working Families Tax Relief Act of 2004 changed the definition of a qualifying dependent. Why was this changed? What other provisions were included in this Act? How did the provision impact working families?
Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :
If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?
1. Record the transactions in the journal. 2. Prepare the statement of shareholders' equity for 20XX.
Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $300,000. He sold the home on October 6, 2012, for $320,000. How much gain must Troy recognize on his home sale in each of the following alternative situations? (Lea..
Is is important for a company to follow a strict budget even though they may be experiencing phenomenal profits. Do you think there will a bias towards greed when creating the budget for this company? Explain.
Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:
Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.
Setting discount rates are too high due to fear of future rates tends to bias decisions against making strategic investments.
Prepare a journal entry to record the estimated liability. Assume that during 2010, products under warranty must be repaired using repair parts from inventory costing $4,950. Prepare the journal entry to record the repairs of products.
Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable.
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