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Question - Beemer's sales are $400,000, variable costs are 75% of sales, and operating income is $50,000. What is the operating leverage?
Accounting Basics, Accounting
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Question - At the beginning of 2016, Pioneer Products' ownership interest in the common stock of LLB Co. increased to the point that it became appropriate to begin using the equity method of accounting for the investment ...
Question - Alpha Corp., was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value common stock at a price of $50 cash per share. On December 31, 2018, Alpha reporte ...
Question - Canberry Corporation had net income of $116,000, beginning total assets of $856,000 and ending total assets of $760,000. Calculate its return on total assets? 738% 15.3% 655% 14.4% 13.6%
Question: Competency Justify the proper accounting for transactions with respect to accounting changes and error corrections using the accounting codification and other accounting research tools. Scenario: CM Corporation ...
Question - Stellar Company manufactures equipment. Stellar's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are ...
Question - Kelly Hayes operates a bed and breakfast hotel in a beach resort area of Noosa. Depreciation on the hotel is $60,000 per year. Kelly employs a maintenance person at an annual salary of $30,000 per year and a c ...
Question - The following are reported amounts from Ellis Company's multiple-step income statement: Cost of merchandise sold $199,840 Merchandise inventory 139,890 Sales 307,750 Sales discounts 5,850 Sales returns 11,690 ...
Question - An individual received 70% capital interest in a general partnership by contributing investment land purchased 10 years ago for 40000 values 60000 and a personal non business truck purchased 9 months ago for 1 ...
Question - A company receives a $850 utility bill for the current month but does not plan to pay the bill until early next month. Record the receipt of the utility bill using (a) accrual-basis accounting and (b) cash-bas ...
Question - Tribune Manufacturing purchased a machine for $60 000 on 1 January 2015 which is expected to have a 5 year useful life, no residual value, and to produce a total of 20 000 gadgets before it is scrapped. Assumi ...
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