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ABC Company recognises revenue at the point of shipment. Management decides to increase sales for the current quarter by filling all customer orders. Explain what impact this decision will have on the following: (a) days receivable for the current and next quarter; (b) sales growth in the current and next quarter; (c) return on sales for the current and next quarter.
The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. The basis of her partnership interest following the distribution is:
For the month of October, Pratt Corporation predicts total cash collections to be $1 million. Also for October, Pratt Corporation estimates its beginning cash balance will be $50,000 and that it will borrow cash in the amount of $70,000. If Pratt ..
Davie Corporation is preparing its Manufacturing Overhead Budget for the fourth quarter of the year. The budgeted variable factory overhead rate is $6.00 per direct labor-hour; the budgeted fixed factory overhead is $92,000 per month, of which $16..
A firm will only earn normal profit in the long run: a) if firms can freely enter or leave the market b) if firms do not try to maximize profit c) only if the industry is perfectly competitive d) whenever products are not differentiated
kobe is a single dad with dependent children lizzie age 7 and leslie age 3 he has agi of 51,000 and paid 6,300 to a qualified day care center what amount of credit can kobe receive for the child and dependent care credit?
Donald received this refund later in the same month. Is the California refund a taxable income for 2011? Can you describe the tax benefit rule in your own words?
he bonds will be insured up to $17,000, so Jose doesn't want to invest more than that amount in bonds which will earn 4 1/2%. What will be the maximum amount of interest that Jose could learn?
Explain and justify the difference between the treatment of estimated uncollectible taxes in fund accounting and the treatment of estimated bad debts in commercial accounting.
Janet (taxpayer) residing in Australia is named as the sole beneficiary of a property (1.85 hectares) with a large homestead as a result of the death of a relative on 7/10/2009.
Please address the differences in creating budgets for the following entities: manufacturing, non-manufacturing, serviced-based business, and not-for-profit organizations.
Many times the sale of inventory is referred to as upstream and downstream. However, how is it treated if it is from one sub to another? Is the sale of inventory from one sub to another treated in the same manner as an upstream or downstream sale?
If investors required a rate of return equal to 12 percent on similar-risk bonds and interest bonds and interest is paid semiannually, what should be the market price of Buner's bonds?
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