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1. Suppose the analysis of a loss contingency indicates that an obligation is not probable. What accounting treatment if any is warranted?
in may of the current year s makes a gift of land basis of 60000 fmv of 240000 to his aunt t. after the gift aunt t
During the current year, merchandise is sold for $275,000 cash and $990,000 on account. The cost of the merchandise sold is $950,000. What is the amount of the gross profit?
At December 31, 2008, none of the executives had exercised their options. What is the impact on Filmore's net income for the year ended December 31, 2008 as a result of this transaction under the fair value method?
direct materials 64900direct labor 17600factory supplies 20000factory supervision 31400research and development
Emerson produces all of its toasters in a single plant. Normal activity is 45,000 units per year. Standard overhead rates are computed based on normal activity measured in standard direct labor hour. During the year, Emerson experienced the follow..
poppycrock inc. manufactures large crates of microwaveable popcorn that are typically sold to distributors. its main
New equipment is available that will reduce annual cash operating costs to $21,000. The equipment costs $103,000, has a service life of six years, and has an estimated residual value of $13,000. Company sales will total $430,000 per year with eith..
Mark Wilson, chief of personnel, has been instructed to increase the hiring of women at the Morton Cement Company.
Isabella provides 30% of the support for her father Hastings who lives in an apartment by himself and has no gross income. Is it possible for Isabella to claim a dependency exemption for her father? Explain.
Free cash flow is calculated as
1.team shirts inc. had net cash from operating activities of 50000. it paid 40000 to buy a new computer system by
kent companys may sales budget calls for sales of 900000. the store expects to begin may with 50000 of inventory and to
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