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Many states have prevailing wage laws that require government contracts pay premium wages to workers who would otherwise work for 20% to 30% less. What is the rationale for such laws? In your opinion, what is their effectiveness?
All else being equal, when the capital gains tax rate is less than an investor's personal marginal tax rate would the individual prefer that the firm issue dividends or allow the share price to appreciate? Why?
Blacken Company manufactures motorcycles. The company's management accountant wans to calculate the fixed and variable costs associated with utility cost incurred by the factory. Data for the past five months were collected.
A house worth $70,000 is purchased with a down payment of $20,000 and a mortgage amortized over 20 years. If the interest rate is 14% compounded semi- annually;
Parker Company had $5000000 in sales and reported a $300000 loss in its annual report to stockholders.According to a CVP analysis prepared for managements use, $5000000 in sales is the break even point for the company.
Milton Company provides this information for the month of November, 2007: sales on credit $150,000; cash sales $50,000; sales discount $2,000; and sales returns and allowances $8,000. Prepare the sales revenues section of the income statement base..
The master manufacturing overhead budget for the month based on normal productive capacity of 15,000 direct labor hours (7,500 units) shows total variable costs of $90,000 ($6 per labor hour) and total fixed costs of $45,000 ($3 per labor hour). N..
Determine the (a) current ratio, and (b) quick ratio. Round your answer to one digit after the decimal.
Periodically reconciling the physical counts of inventory to total counts reflected in accounting records by using someone who does not handle inventory or record purchases is considered to be:
Prepare journal entries (A,B,C) and show proper disclosure (C) to reflect the following treasury stock transactions showing how each is accounted for under the cost method. (show computation)
1. Alpha Co. sold 10,000 shares of common stock, which has a par value of $10, for $13 per share. Their balance in retained earnings in $75,000. Prepare a stockholders' equity section of the company's balance sheet.
The left-hand side of an account is used in recording debits, and the right hand side is used for recording credits in, Which of the following is NOT a basic function of an accounting system:
ACCT567 Case Study I (Week 2), Prepare closing entries.Prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 2012. Prepare a General Fund Balance Sheet as of June 30, 2012.
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