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Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for office Supplies at year-end?
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
If a company pays 8 percent interest to borrow $500,000, but is in an income tax bracket that requires it to pay 40 percent income tax, what is the actual net-of-tax interest cost that the company incurs?
Carleton Service Center just purchased an automobile hoist for $14,947. The hoist has a 5-year life and an estimated salvage value of $1,410. Compute the payback period for the new hoist.
Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.
What problems are associated with using the average cost per unit as a performance measure? What problems are associated with using the variable cost per unit as a performance measure?
A consulting engineering firm is considering two models of SUVs for the company principals. A GM model will have a first cost of $26,000, an operating cost of $2000, and a salvage value of $12,000 after 3 years.
Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.
Allen Company produces and sells a single product whose selling price is $100.00 per unit and whose variable expense is $80.00 per unit. The company's fixed expense total $400,000 per month. What is the monthly break-even in sales dollars?
All else being equal, when the capital gains tax rate is less than an investor's personal marginal tax rate would the individual prefer that the firm issue dividends or allow the share price to appreciate? Why?
Prepare the journal entry to record the sale of the bonds on January 1, 2008, and the proper balance sheet presentation on this date. Prepare the journal entry to record interest expense on December 31, 2008, and the proper balance sheet presentat..
Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000.
Norma, the proprietor of Hyacinth Enterprises, withdrew $50,000 from Hyacinth during the year. Assuming Norma has no other capital gains or losses, how does this information affect her taxable income for 2009?
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