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Vandross Company has recorded bad debt expense in the past at a rate of 1.5% of net sales. In 2012, Vandross decides to increase its estimate to 2%. If the new rate had been used in prior years, cumulative bad debt expense would have been $380,000 instead of $285,000. In 2012, bad debt expense will be $120,000 instead of $90,000. If Vandross's tax rate is 30%, what amount should it report as the cumulative effect of changing the estimated bad debt rate?
are preferred dividends deducted from net income when calculating earnings per share? if so why and are there any
Define the concepts of present value, payback method, internal rate of return, or net present value and elaborate on your interpretation of their value as assessment tools for an accountant.
cain components manufactures and distributes various plumbing products used in homes and other buildings. over time the
On jan 1 2011 pearce com purchased an 80% interest in the capital stock of searl com for 2460000. at the time searl co had capital stock of 1500000 amd retaines earnings of 300000. Calculate the controlling interest in consolidates net income for 2..
Tax Return-Individual Number Five
quality supplier inc accepts cash or credit card payment from customer. during june quality provided 170000 worth of
"Black Kitty Company recorded certain revenues of $10,000 and $20,000 on its books in 2007 and 2008, respectively. However, these revenues were not subject to income taxation until 2009. Company records reveal pretax financial accounting income an..
How many units of the new product must Delphi sell during the next fiscal year in order to break even on the product?
Beginning and ending work in process for 2009 are $8,000 and $10,000 respectively. How much is cost of goods sold for the year?
inventory costing methods-periodic method the following data are for the portet corporation which sells just one
fifo and lifo are the two most common cost flow assumptions made in costing inventories. the amounts assigned to the
black and white has a cost of equity of 11 percent and a pre-tax cost of debt of 8.5 percent. the firms target weighted
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