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Kermit is considering purchasing a new computer system. The purchase price is $142491. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments over a 3-year period. The computer system is expected to last 5 years and has a salvage value of $7476 at that time. Over the 5-year period, Kermit expects to pay a technician $20,000 per year to maintain the system but will save $65280 per year through increased efficiencies. Kermit uses a MARR of 12 percent to evaluate investments. What is the net present worth for this new computer system?
Apex Industries expects to earn $25 million in operating profit next year. The company pays an operating tax rate of 30 percent. If the value of leased asset is $125 and the cost of debt is 10 percent, what is the approximate after-tax operating prof..
Indicate whether each of the statements that follow is more applicable to a perpetual inventory system, periodic inventory system, or both. Inventory figure is not accurate until the balance sheet date.
From an accountant’s perspective, separation of duties is self-explanatory. Explain how do small companies that have minimal accounting staff deal with this issue? Explain how might you, as owner of a small business, ensure the integrity of your f..
Prepare a multi-step income statement. M. Davidson, manager of the company, strives to earn a gross profit percentage of at least 50%. Did Grade A achieve this goal? Show your calculations.
Every year danielle sells 29720 cases of her cookie mix. it costs $1 per year to store a case plus annual warehouse fees of $2 per case for the maximum number of cases she will store. if it costs her $743 to set up a production run, plus $10 per case..
Financial statement reporting and Tax reporting are prepared in compliance with the following principles and regulations.
Liman Corporation has a single product whose selling price is $139 and whose variable expense is $59 per unit. The company’s monthly fixed expense is $38,000. Using the equation method, determine for the unit sales that are required to earn a target ..
Crown Auto leased 40 vans to Piedmont Transport under a four-year noncancelable lease on January, 1, 2016. Information concerning the lease and the vans follows: What are the potential advantages to Piedmont of leasing the vans rather than purchasing..
How do companies use responsibility centers? How are the managers of the responsibility centers held accountable? Why is budgeting important? Describe how you use budgeting in your personal life or in your company.
Excess of the sales price over cost should be credited to retained earnings-Gains are not recorded on treasury stock transactions but losses are.
During the current month, a company that uses job order costing purchases $54,000 in raw materials for cash. It then uses $16,000 of raw materials indirectly as factory supplies and uses $28,100 of raw materials as direct materials. Prepare journal e..
On May 1, 2014, Fisher Corp. acquired 4,000 shares (5%) of Wychek, Inc. stock for $25 per share. On October 18, 2014, Fisher Corp. received a dividend of $3 per share on the Wychek stock. The market value per share of Wychek's stock as of December 31..
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