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Antioch Extraction: Cost behavior high-low method

Antioch Extraction, which mines ore, uses a calendar year for both financial-reporting and tax purposes. The following selected costs were incurred in December, the low point of activity, when 1,500 tons of ore were extracted: Straight line depression 25,000 Charitable contributions 11,000 (incurred only in December)

High-Low method of Cost estimation for Rio Bus Tours in Brazil

Problem 1. Rio Bus Tours has incurred the following bus maintenance costs during the recenttourist season. (The real is Brazil's national monetary unit. On the day this exercise was written, the real was equivalent in .4378 US dollar.) Month Miles traveled by the us Cost Nov 8,500 11,400 real Dec 10,600 11,600

Tax Deductions: Statutory Employee and travel-related expenses

Statutory employees: a. Report their expenses on Form 2106. b. Include common law employees. c. Are subject to income tax withholdings. d. Claim their expenses as deductions for AGI. e. None of the above. Felicia works as an auditor for a large major CPA firm. During the months of October and November of each year, she i

Newdex: How much after-tax income increase to prevent dilution of EPS

Newdex has net income of $2,500,000 and 1,000,000 shares outstanding. It needs to raise $3,610,000 in funds for a new asset. Its investment banker plans to sell an issue of common stock to the public for $40, less a spread of 5%. How much must Newdex's aftertax income increase to prevent dilution of EPS? a) $40,000 b0 $237,5

Big Dom's EAR vs APR; Baryla income tax: average and marginal rate

EAR versus APR Big Dom's Pawn Shop charges an interest rate of 16 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. (Do not include the percent sign (%). Round your answers to 2 decimal places, e.g. 32.16.) What rate should the shop report? percent What is the effect

Details regarding Accounting questions

1. Brady Company sells imported goods made in India. One product it sells is a wooden music box. The music box cost Bray $65, and Brady charges its customers a price of $250. Brady's cost of capital is 12%. On average, an entire year elapses between the time Brady pays for a music box and the time Brady collects the cash fr

Comprehensive Tax Strategies: 3-38, 3-58, I3-59, I8-40, I10-52, I13-65, I6-23

3-38 Alimony. As a result of their divorce, Fred agrees to pay alimony to Tammy of $20,000 per year. The payments are to cease in the event of Fred's or Tammy's death or in the event of Tammy's remarriage. In addition, Tammy is to receive their residence, which cost them $100,000 but is worth $140,000. a. Does the fact tha

Monroe Clock Company: Recomputing Overhead Rates

Jim Monroe, president of the Monroe Clock Company, has just finished saying he did not think they knew what the new household timer was going to cost. His controller, Tom, had provided figures showing a full cost of $11.60, and Frank Tyler, his sales manager, ha worked out a cost of $6.30. Frank said that was the timer's cost us

Atlantic Beach Company Process Costs

Atlantic Beach Company manufactures suntan lotion, called Surtan, in 11-ounce plastic bottles. Surtan is sold in a competitive market. As a result, management is very cost-conscious. Surtan is manufactured through two processes: mixing and filling. Materials are entered at the beginning of each process and labor and manufacturin

Under/over applied overhead for Texco Corporation

Texco Corporation uses an activity-based costing system with two activity cost pools. Texco uses direct labor hours as the measure of activity in the first activity cost pool and the number of orders in the second activity cost pool. The following information relates to these two activity cost pools for last year:

Accounting Concepts for Srinivas Company: equation approach for transactions

Please see the attached files. The Srinivas Company was incorporated on April 1, 20X1. Srinivas has ten holders of common stock. Diveesh Srinivas, who was the president and chief executive officer, held 51% of the shares. The company rented space in chain discount stores and specialized in selling ladies' shoes. Srinivas's fi

Accounting for Governmental Funds

Only need assistance with part "B". Please review the attached simulation in order to complete. Please include references. Before meeting with the Learning Team, each individual team member should run the "Accounting for Governmental Funds" simulation. As a team, prepare a paper that includes the following: a. Discu

Describe a survey; prepare a survey for the auto industry

Auto industry Survey Develop a problem statement which can be addressed with survey research. Prepare a 10-13-question survey to collect primary data regarding your selected problem statement. Your survey questions must include a mixture of categorical (nominal and ordinal) and quantitative (interval and ratio) variables.

Game Theory: two-player,simultaneous moves game

In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $500. If both players choose strategy, each earns a payoff of $100. If player one chooses strategy A and player 2 chooses strategy B, then the player 1 earns $0 and player

Five major deductions and two credits to reduce tax liability

Details: You and your spouse are preparing your first income tax return as a married couple. You want to save some money and prepare the tax return yourself, so you need to gather information on the credits and deductions that are available and decide the best way to file. Utilize the Library, Internet, and all other resource

Dominion Co, Romania Co, Zayre Company accounting questions

Please see attachment 1)Dominion Company Balance Sheet As of December 31st, 2006 Current Assets: Current Liabilities: Cash $10,00 Accounts Payable $150,000 Accounts Receivable $90,000 Taxes Payable $20,000 Inventory $135,000 Interest Payable $10,000

Jones Corporation: Overhead cost problem

JONES Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity cost pools Activity rate Assembling products $2.36 per assembly hour Processing customers orders $47.73 per custome

Activity based costing: Borealis, WGCC, Marconi

There are 3 problems. I have attached 2 excel sheet which go with these problems and a txt file which is the problems as shown below. Problem 1. Borealis manufacturing has just completed a major change in its quality control (QC) process. Previously, products had been reviewed by QC inspectors at the end of each major

Accounting questions

Accounting questions Please answer the following questions writing between 200 to 300 words to each questions (ONLY QUESTION 4 NEEDS TO HAVE BETWEEN 250 TO 300 WORDS): 1. What are the three internal control objectives for financial reporting? 2. Describe the basic principles of cash management. Have you had any good or

Accounting and taxation problems

1. Why notes before accounts payable? 2. What is the drawing account? 3. What is preferred stock? 4. What is the retained earnings acct, and why does this acct play an important roll in equity on the financial? 5. What is common stock and what role does this have on raising capital? 6. What are some tax implications for co

Statement of Users Needs and System Outputs Required

Your company, ABC Corp., is considering making a change in its accounting information system. The Finance Director has tasked your team with analyzing the needs of the accounting and financial re-porting system's current users. You must complete a user needs assessment and prepare a document that will be submitted to your organi


Could you help me to understand these sample questions please. 3.Hachey Company has accounts receivable of $95,100 at March 31, 2007. An analysis of the accounts shows these amounts. Balance, March 31 Month of Sale 2007 2006 March $65,000 $75,000 February 12,600 8,000 December and January 10,100 2,400

Accounting equation: effect of transactions

Questions as attached. Indicate the two (or more) effects on the accounting equation of the business or company. The first one has been completed. The owner invests personal cash in the business. Assets: Increase Decrease No Effect Liabilities: Increase Decrease NoEffect Owner's (or Stockholders') Equity: Increas