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Taxpayer is a growing contractor business and seeks to add additional staff. Taxpayer has heard that there can be major ramification on if she hires employee’s vs independent contractors. Explain to Taxpayer the difference between them and how to structure her contracts to achieve one designation versus another.
Explain how each amount in the flexible budget was calculated and determine the variance for each line of the profit and loss statement in both dollar terms and percentage terms
Firm B produces gadgets. The price of gadgets is $2 each. Firm B has total fixed costs of $300,000 and variable costs of $1.40 per gadget. The corporate tax rate is 40%. What is the breakeven number of gadgets B must sell to make a zero after tax ..
Estimate the total fixed cost per month and what is the contribution margin per unit made and sold - Estimate the variable cost per unit
Listed below are the reporting classifications for a statement of cash flows using the direct method for reporting operating cash flows. Investing Cash outflow Acquisition of equipment by issuing bonds payable. Noncash financing and investing activit..
Is the recreation center a governmental proprietary activity? Many cities are building large recreational complexes with combination of public funding from tax revenues and user fees. Give an example of governmental recreation complex and why you bel..
What is the NPV of the project? (Do not include the dollar sign ($).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.
What are the ethical and accounting ramifications of incorrectly capitalizing an item? Find a recent example of this practice in the news and summarize your findings.
Finding Economic ordering Quantity - evaluate the net advantage to leasing. (Problem requires MARCS tables.)
The following account balances were taken from ABC Company's 2020 balance sheets: January 1, 2020 December 31, 2020 Accounts payable ? 50,000 Accounts receivable ? 82,000 Cash 35,000 38,000 Common stock 105,000 135,000 Inventory 70,000 ? Income taxes..
Materials and labor are the only variable costs. Under what situation should the company lower the price of its windows?
landline corporation is a public company with a calendar year-end. landline provides a wide variety of
Michaels Company segments its income statement into its East and West Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $640,000, 60%, and $64,000, respectively.
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