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Problem 1: Sharp & Smart are as firm of accountants. The two partners work 50 weeks per year doing 40 chargeable hours each per week. Their charge out rate to clients is $200 per hour (excluding GST). Next year the charge out rate will be increased to $220 per hour. The firm currently has a 30% market share and this is expected to grow to 40% next year. The predicted fee income for next year is:
Select one:
a. $1,173,260
b. $457,600
c. $586,740
d. $1,290,740
An equipment was acquired on April 1, 2011, How much is the accumulated depreciation balance at the end of fiscal year ended September 30, 2013?
Materials are entered at the starting of the process. Conversion costs are incurred uniformly during the process. compute the equivalent units of production for (1) materials and (2) conversion costs.
Pickering Company's prepaid insurance was $8,500 at December 31, 2015, and $12,500 at December 31, 2016. Pickering reported insurance expense of $18,500 on the 2016 income statement. What amount would be reported in the statement of cash flows as ins..
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Calculate the return on capital employed (ROCE), profit margin and capital turnover from the following key figures which have been taken from the profit and loss account and balance sheet of Fat Cats Company Ltd.
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Assuming the discount rate is 6%, should the company XYZ incorporate the feature based on Net Present Value (NPV) Analysis?
Show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, are summarized as follows
Mitro Corporation issued $651,000, 7%, 10-year bonds on January 1, 2015, for $606,764. This price resulted in an effective-interest rate of 8.0% on the bonds. Interest is payable semi annually on July 1 and January 1. Mitro uses the straight-line int..
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