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Variable costs as a percentage of sales for Leamon Inc. are 66%, current sales are $612,750. and fixed costs are $189,751. How much will operating income change if sales increase by $49,790?
A. $49,790 increase
B. $16,929 increase
C. $32,861 decrease
D. $16,929 decrease
Prepare the entry for May 1, 2007. The bonds are sold on August 1, 2008 for $425,000 plus accrued interest. Prepare all entries required to properly record the sale. (Show all calculations).
Show what effect did the expansion have on sales, net operating working capital, capital, net operating profit, and net income?
Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business
Discuss the nonfinancial information that may be used to evaluate the performance of a college or university and suggest what information provides the most insight to financial performance.
Some generally accepted accounting principles (GAAP) apply only to health care, and there are many health care organizations that use other comprehensive bases of accounting when GAAP does not apply
Allocation and proration of overhead. Tamden, Inc., prints custom marketing materials. The business was started January 1, 2010. The company uses a normal-costing system. It has two direct cost pools, materials and labor and one indirect cost pool..
Britney is beneficiary of an $150,000 insurance policy on her father's life. Upon his death, she may elect to receive the proceeds in five yearly installments of $32,000 or may take the $150 lump sum. She elects to take the lump sum payment. What ..
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements?
Hart Company's labor standards call for 500 direct labor hours to produce 250 units of product. During October the company worked 625 direct labor hours and produced 300 units. The standard hours allowed for October would be:
Dolan Manufacturing Company's accounting records reflect the following inventories:
Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. The company declared a $2,700 dividend on its noncumulative, nonparticipating preferred stock.
Accounting is becoming a global business language. Provide some evidence of this assertion. What are some of the implications of this trend?
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