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bronze corporation sold machinery for $27,000 on december 31, 2011. The machinery had been purchased on january 2, 2008 for $40,000 and had an adjusted basis of $21,000 at the date of the sale. For 2011, what should Bronze Corporation report?
You're a US company with a customer that is going to pay you 10,000 Euros in six months. The correct futures hedge for this condition is to enter in a contract in which you buy Euros (True or False)
In this way we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think?
Brain Drain is about to launch a new product. Depending on the success of the new product, there are three possible outcomes for value next year-What is Brain's total value with leverage?
Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6%. They have not declared any cash dividends on the stock in the last 3 years.
Discuss the rationale for GASB requiring raw sets of financial statements, each with a different measurement focus and basis for accounting for government activities. Do you agree with this rationale or not? Explain why.
Nagen Company had these transactions pertaining to stock investments:
Daily demand for a product is 100 units, with a standard deviation of 25 units. The review period is 10 days and the lead time is 6 days. At the time of review there are 50 units in stock.
What role does GAAP play in how firms determine transfer prices?
Prepare the July 31 journal entry for Red Brick Inc. capturing repayment of the entire note and interest.
Actual selling price: $7.50, $10.50. Budgeted selling price: $5.50, $10.50. Actual Sales Mix: 69%, 31%. Budgeted Sales Mix: 75%, 25%. What is the total sales-volume variance of revenues?
Ruger has a profit margin of 16% based on revenues of $400,000 and an investment turnover is 2. What is the residual income when the cost of capital is 10%?
Discuss the key factors that should be considered when determining whether an item should be expensed. Speculate how Joe Carter arrived at his decision to expense the carpets replaced in the apartments.
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