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Unrelated Business Income Tax

For each of the following organizations, determine the amount of the UBIT. a. AIDS, Inc., an exempt charitable organization that provides support for individuals with AIDS, operates a retail medical supply store open to the general public. The net income of the store, before any Federal income taxes, is $305,000. b. The lo

fraud investigation interviews

Conducting an interview as a fraud investigator, is the interview an evidence gathering process in itself? Please elaborate.

Variance Analysis Standard Manufacturing Costs

The Beal Manufacturing Company's costing system has two direct-cost categories:direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor hours (DLH). At the beginning of 2009, Beal adopted the following standards

This post discusses the Sltakin SEC case.

Please go to This SEC litigation release identifies Daniel Jacobs as a co-conspirator in Slatkin's effort to deceive the SEC. Pay close attention to the bulleted section. a. What do you learn about NAA Financial? b. Who is Michel (Mitchell) Axiall?

Critical Path Analysis (CPA)

Scope is indeed important; as is the need sometimes to change it...happens all the time! Question: does this mean the Critical Path Analysis (CPA) can change during the lifetime of a project? Please include references.

Fiscal Administration

What are the various types of consumption taxes? What are the justifications for each type Why are general sales taxes and excise taxes on liquor and tobacco often regressive? What are the major benefits and disadvantages of imposing user charges?

Conversion of bonds: E-16 Gottlieb Corporation

E16-6 (Conversion of Bonds) On January 1, 2007, Gottlieb Corporation issued $4,000,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into eight shares of Gottlieb Corporation $100 par value common stock after December 31, 20

Management accounting, problem 1-31

The managers of Quince Products (Problem 1-31) decide they will hire a management accountant to help them analyze the decision to expand their product line. They solicit bids from various accountants in the city and receive three proposals. In describing Accountant A: "I have recently advised the symphony

FASB Codification Exercise using the Master Glossary

Access the FASB Codification ad to prepare responses to the following exercises. Provide Codification references for your responses. 1. Access the glossary ("Master Glossary") to answer the following. (a) What are trading securities? (b) What is the definition of "holding gain or loss"? (c) W

Split off point, break even analysis

Step down method, Break-even point, Cost Variance, and Split-off point ************************************************************ 4 Blower Company is divided into four departments. Departments A and B are service departments and Departments 1 and 2 are operating (production) departments The services of the two servic

Tax Base/ Temporary difference Questions

ABC Company has the following items in its audited financial statements for the year ended 31 March 2011. (i) Freehold land costing $100 million is revalued to $150 million. For tax purposes, there is no depreciation. Gain or losses on disposal of land at the revalued amount will be taxable. (ii) A machine cost $200 millio

breakeven analysis for freelance pizza

Assume that you are offering a freelance pizza delivery service for local pizza stores that do not have their own delivery service. Based on the going rate for pizza in your market area and the geographic market you plan to cover, create a breakeven analysis for your new business. You are free to negotiate a percentage of the fo

Darius Company: Explain the October $72,000 unfavorable income variance

See attached file. Darius Company operating budget for October had anticipated pretax operating income of $75,000. Drew Mackenzie, Dariusas general manager, was therefore disappointed when, in early November, Dariusas controller gave him a report showing that only $3,000 of operating income had been earned in October (see Exh

Distributing a bonus pool

Distributing a bonus pool Four broad approaches to distributing the proceeds of a bonus pool in a profit- sharing plan are listed below: 1. Each person's share is based on salary 2. Each person receives an equal share 3. Each person's share is based on position in the organization (larger payments to people at higher le

FASB and the GASB

Please compare and contrast the FASB and the GASB. Provide references .

P17-34 Actual and Predetermined Overhead Rates Allison's Engines

Allison's Engines -- the month, the following events occurred: Materials costing $6,500 were purchased on account. Direct materials costing $3,000 were placed in process. A total of 380 direct labor hours was charged to individual jobs at a rate of $15 per hour. Overhead costs for the month of January were as follow:

New machinery was installed to replace a number of employees

New machinery was installed to replace a number of employees, who were paid an extra month's wages and dismissed. This amount was added to the cost of the machinery. Discuss the propriety of the charge. If it was improper, describe the proper treatment.

Cost Accounting

Yellow Industries decides to price delivery service according to the results of a recent activity-based costing (ABC) study. The study indicates Yellow should charge $8 per order, 2% of the order's value for general delivery costs, $1.25 per item, and $30 for delivery. A year later, Yellow collected the following information fo

comparing costs using ABC with the plantwide overhead rate

The following data are for the two products produced by Aplan Company. Product A Product B Direct materials $ 15 per unit $ 24 per unit Direct labor hours 0.3 DLH per unit 1.6 DLH per unit Machine hours 0.1 MH per unit 1.2 MH per unit Batches 125 batches 225 batches Volume 10,000 units 2,000 units Engineering modificat

ABC System

Aunt Ethel's Fancy Cookie Company manufactures and sells three flavors of cookies: Macaroon, Sugar, and Buttercream. The batch size for the cookies is limited to 1,000 cookies based on the size of the ovens and cookie molds owned by the company. Macaroon Sugar Buttercream Projected sales in units

monopolist output, charges, and profit-maximization

In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and marginal cost. Answer these three questions: (a) What output will the monopolist produce? (b) What price will the monopolist charge? (c) What total prof

Cost of production and Absorption & Variable Cost

See attached file. E17-27 Cost of production Report: No beginning inventories Oregon Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2009, the first month of operations for the company's new Portland plant, follow: Units of prod

accounting concepts

On Cursor Corporation's balance sheet, a large tract of company-owned land is reported at its original cost of $50,000. The owner of the company is upset, because he thinks the land's true value is ten times that amount. He fears the low-cost figure may hurt the company as it tries to raise additional capital in the future. The