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Collegiate Tuxedo rents apparel throughout the year. They have experienced non-payment by about 15% of their customers with an average loss of $200. Collegiate wants to stem their losses by using an instant electronic credit check on the customer. These checks will cost them $7 on each of the 1,000 customers. The opportunity cost is 1.5% for the credit period. Should they pursue the credit check?
A. No, because the $7000 cost is too high.
B. No, because a $200 loss is minor.
C. Yes, because the net gain is $30,000.
D. Yes, because the net gain is $23,000.
E. Yes, because the net gain is $193,000.
Pare Long-Haul, Inc. is considering the purchase of a tractor-trailer that would cost $104,520, would have a useful life of 6 years, and would have no salvage value.
Let's talk about donated services. Clearly unique to nonprofits (well, I've never heard of anyone willingly donating their time and efforts to General Motors, but I guess it's possible) - What does FASB say about donated services?
In determining the initial accounting for leases for both the lessee and the lessor?
Use the checklist to outline phases of the internal control evaluation. You may use the (1) components of internal control, or (2) relevant assertions as headers within your checklist.
In addition to the foregoing information, use the following data in determining the acceptability in this situation: Income from Net Cash Year Operations Flow 1 $100,000 $180,000 2 40,000 120,000 3 20,000 100,000 4 10,000 90,000 5 10,000 90,000 Th..
What are the tax consequences of property contributions in exchange for ownership interests to the contributing party and to the entity for C Corporations and Trusts?
Describe situations where you have effectively demonstrated each of the forms of communication mentioned. What did you do to help you communicate effectively?
Olga's sole proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the sole proprietorship on her individual income tax return (form 1040).
The rate o a five-year CD is 6 percent. Should you refinance your mortgage or invest the $3,000 in a CD? The 6 percent CD rate is your opportunity cost of capital.
What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..
Prepare the necessary journal entry to closed the overhead account if the balance is considered immaterial.
It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the produ..
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