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Question - Michael Scott is 30 years old at the beginning of the year and is thinking about getting an MBA. Michael is currently making $40,000 per year and expects the same for the remainder of his working years (until age 65). If he goes to a business school, he gives up his income for two years and, in addition, pays $20,000 per year for tuition. In return, Michael expects an increase in his salary after his MBA is completed. Suppose that the post-graduation salary increases at a 5% per year and that the discount rate is 8%. What is minimum expected starting salary after graduation that makes going to a business school a positive-NPV investment for Michael? For simplicity, assume that all cash flows occur at the end of each year.
Write the journal entries to record the disposal of the old delivery truck on 31 March 2018, including calculation of gain or loss. Show your calculations
Based on what you know about accounting, what role do you see it playing in business operations? How dependent do you think a business is on its accounting department? Explain why. Why are ethics so important in the field of accounting?
The estimated cost at December 31, 2019, to complete the contract is $1,200,000. Altom was billed $600,000 under the contract. What is total cost occured?
At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. What was the noncontrolling interest in Kent's net income?
the balance sheet for bearing industries inc. at the end of the current fiscal year indicated the followingincome
Compute the amount received for the bonds. Compute the first interest and amortization amounts for the October 1, 2016, payment.
Direct Combination CostsAlmost all business combinations employ professional services to assist in various phases of the transaction. Examples include target identification,
Answer the following questions for both sole traders and companies: (a) Is there any statutory regulation governing them?
Identify and explain two potential threats to audit independence and its potential breach of ethical principles
The company has the capacity to produce 60,000 units. The product regularly sells for $45. A wholesaler has offered to pay $40 each for 2,000 units.
Compute the cost of the ending inventory using each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted average
CBF Company has a calendar fiscal year, What is the maximum CCA CBF Company can deduct on this machine for the 2020 fiscal year?
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