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Question - Zach withdrew S400,000 out of his personal savings account and used it to start his new cookie business. The bank account pays 3 percent interest per year. During the first year of his business, Zach sold 6,000 boxes of cookies for S2.50 per box. Also during the first year, the cookie business made business expense outlays of $9,000. What is his accounting profit and economic profit?
In your initial post explain why bonds don't always sell at their face value. Why would they sell for more or less than their face value
Prepare journal entries for the following selected transactions related to this company's stock during the current year:
Identify each of the following as either an asset, a liability, or equity: (a) Prepaid Rent, (b) Unearned Fees, (c) Building, (d) Wages Payable.
Resty Company manufactures a product that goes through two departments prior to completion: the Mixing Department and the Packaging Department.
Why do viruses spread so quickly? Twitter's Twitter's servers fail for a week. 5% of all Twitter users quit forever. What is the likely impact on stock price?
Ronald needs $1,215,650 to cover next Friday's payroll. Its balance of outstanding accounts receivable totals $1,277,000. What might Ronald do to alleviate this cash crunch?
Describe the three key categories of benchmarking identified in the lecture and explain how a fast food outlet could use each type
Discuss the accuracy of the following statements regarding internal control The more computerized applications within a company accounting system, the lower the risk will be that fraud or errors will occur.
Investment income and related expenses amount to 7,000 and 500 respectively. What is Mike and Sally's interest deduction for the 2010 tax year
Cindy maintains an office in her home that comprises 8% (200 square feet) of total floor space. What is Cindy office in the home deduction
Discuss the advantages and disadvantages of the two methods of accounting for purchases discounts taken in regard to management's needs
Which of the following legal entities gives the taxpayer the choice to be taxed either as a sole proprietorship, partnership
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