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The following data has been taken from the management accounting reports from Spinnaker Sales. Div A -Income from operations $1,800,000 Total service department charges $1,600,000. Div B - Income from operations $1,350,000 Total service department charges $950,000. Div C - Income from operations $1,350,000 Total service department charges $1,000,000. If an incentive bonus is paid to the manager who achieved the highest income from operations before service department charges which division manager would receive the incentive. Please explain why?
Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable
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Extent of Tests of Control -Every year AUDITOR should obtain sufficient evidence about whether company's internal control over financial reporting, including controls for all inter
An individual is currently working 40 hours per week, earning $10 per hour. He loses his job and successfully applies for unemployment insurance. The insurance plan works as foll
Data for 2013 were as follows: PBO, January 1, $244,000 and December 31, $274,000; pension plan assets (fair value) January 1, $190,000, and December 31, $233,000. The projected be
Q. Show the investment appraisal method? The investment appraisal method is concerned with assessing the value of future cash flows compared to the cost of investment. Since fu
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In the current year, Company A is formed with $630,000 in capital from the sale of 21,000 shares of stock at $30 a share. Company A, which has no other operations, immediately acqu
Simon Corporation's bonds have 12 years left over to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 11.5%. The bonds have a y
Use of Professional Skepticism when Evaluating the Results of Testing - AUDITOR should conduct the audit of internal control over financial reporting and audit of financial stateme
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