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Product R19N has been considered a drag on profits at Buzzeo Corporation for some time and management is considering discontinuing the product altogether. Data from the company's accounting system appear below: In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has revealed that $49,000 of the fixed manufacturing expenses and $30,000 of the fixed selling and administrative expenses are avoidable if product R19N is discontinued. What would be the effect on the company's overall net operating income if product R19N were dropped?
In 2010 Down sold $100,000 merchandise to Up at gross margin of 40%. Up's Ending inventory balance at the end of 2010 is $25,000. Prepare the journal entries for 2009 and 2010 to eliminate and adjust for the intercompany transaction.
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following:
Gannon Company is considering purchasing a machine. The machine will produce the following cash flows: Year 1 $60,000 Year 2 $90,000 Gannon requires a minimum rate of return of 10%. What is the maximum price Gannon should pay for this machine?
Suppose, revenue shown on the accrual basis income statement was $200,000. Accounts receivable were $5,000 on January 1, 2008 and $3,000 on December 31, 2008.
What is each partners beginning putside basis and how much gain(loss) must the partners recognize in 2010 when Picture Perfect was formed?
The company's budgeted fixed manufacturing overhead is $77,220 per month, which includes depreciation of $9,720. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead o..
Describe the three methods used to allocate joint costs. What are the advantages/disadvantages of each allocation method? Which method would you recommend? Why
taurus tools has developed a new kitchen utensil. the firm has conducted significant market research and estimated the
If the estimate of loss from uncollectible accounts is based on sales, any existing balance in Allowance for Doubtful Accounts is added to the percentage of sales to determine the amount of the adjustment.
Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?
If a company's tax rate increases but the YTM of its noncallable bonds remains the same, the after-tax cost of its debt will fall. Why do you think this is a correct statement?
tom zuluaga company placed an asset in service on january 2 2012. its cost was 1350000 with an estimated service life
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