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For the month of October, Pratt Corporation predicts total cash collections to be $1 million. Also for October, Pratt Corporation estimates its beginning cash balance will be $50,000 and that it will borrow cash in the amount of $70,000. If Pratt Corporation estimates an ending cash balance of $30,000 for October, what must it's projected cash disbursements be?
Post Inc, had a receivable from a foregn customer that is payable in customer's loca currency. On Dec 31, 2009, Post correctly included this receivable for 200,000 local currency units
What are some implications of currency depreciation, devaluation, and appreciation for the US Dollar compared to a foreign currency? How does a strong U.S. dollar affect the balance of trade for USA? Why?
Display Labs Inc recently began production of a new product, flat panel displays, which required the investment of $1,800,000 in assets.
On January 1, 2011, Ross Corporation issued bonds with a maturity value of $200,000; the bond's stated rate of interest equaled the market interest rate on the issue date.
What is Omega's taxable income for the current year, assuming qualified production activities income is $20,000?
What are management assertions? How do they affect the financial statements? How does the auditor formulate audit objectives based on management assertions?
A company produces and sells pillows. It expects to sell 10,000 pillows in the year 2012 and had 1,000 pillows in finished goods inventory at the end of 2011.
In 2010, Bailey Corporation discovered that equipment purchased on January 1, 2008, for $50,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage value. The effective tax rate is 30%.
Bliny Corporation makes a product with the following standard costs for direct material and direct labor: Prepare material and labor journal entries
Electricity is billed by kilowatt hour. According to its first bill, Raymondo's paid $573 for 3,000 kilowatt hours in January.
What conditions/factors cause a business to have a high degree of operating leverage as compared to others?
Evaluate taxable income and income taxes payable. Prepare the journal entries for income tax expense, income taxes payable, and deferred taxes.
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