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Apollo Company manufactures a single product that sells for $110 per unit and whose total variable costs are $88 per unit. The company's annual fixed costs are $308,000.What are the sales, variable costs, contribution margian, fixed costs, and the new income
The owner's equity in a business amounted to $56,000 at the beginning of the year and $100,000 at the end of the year. The owner had made no additional investments and had withdrawn $19,000 during the year. The net income for the year amounted to ..
Calculate the proper fixed-overhead rate per standard direct-labor hour and per unit. Assume that 6,000 standard direct-labor hours are allowed for the output achieved during a given month. Actual variable overhead of $31,000 was incurred; actual ..
If you require a 7 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?
Income before interest and taxes is expected to be $3,000,000. The company has a 30% tax rate and has 600,000 shares of common stock outstanding prior to the new financing.
The old machine has an adjusted basis of $36,000 and the new machine has a fair market value of $80,000. What is the recognized gain or loss and the basis of the new machine?
A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. Using effective-interest amortization, what will the carrying value of the ..
On 1/1/09 ABC Company sold $200,000 of 10% ten-yr bonds. Interst paid semiannually on 6/30 and 12/31. The bonds sold for $177,000. ABC records interest at the effective rate. What much bond interest expense should ABC reports bond interest expense..
Tanver Corporation, a calendar year corporation, has alternative minimum taxable income of $7 million in 2010 (before adjustment for adjusted current earnings). If Tanver's adjusted current earnings is $16 million, its tentative minimum tax for 20..
Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively. Compute the gain recognized by Demers Company relating to the equipment for 2006:
What is the difference between the cash basis of accounting and the accrual basis of accounting? Which one would you select for a company that has inventory and why?
Tracy co. owns 4,000 of the 10,000 outstanding shares of penn corp. common stock. during 2010, penn earns 120,000 and pays cash dividends of 40,000. if the beginning balance in the investment account was 240,000 the balance at december 31, 2010 sh..
Kingbird redeems 200 of Amata's shares for $1000 per share. Amata paid $300 per share for her stock nine years ago. Which of the following statements is correct with respect to the stock redemption?
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