Question - During 2018, Liang's Book Store paid $485,000 for land and built a store in Cleveland, Ohio. Prior to construction, the city of Cleveland charged Liang's $1,700 for a building permit, which Liang's paid. Liang ...
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Question - You want to borrow $67,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,300, but no more. Required: Assuming monthly compounding, what is the highest rate you can a ...
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Question: As a small business owner in today's economy: • What three financial reports would you use on a regular basis? • What information would you find on each statement? • What decisions might each statement help you ...
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Question - X Company estimates the following for its three products, A, B, and C, for 2018: A B C Revenue $47,460 $24,303 $63,666 Total variable costs 29,400 18,224 26,136 Fixed costs in 2018 are expected to be $19,800 ...
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Question - Richard starts his own business in 2016 with $2,000 owner's capital. In 2016, he bought 10 textbooks at $1,000 and sold 5 of them at $600. There is no other transaction during 2016. What is the cost of goods s ...
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Question - The following information is available for Collins Company. January 1, 2014 2014 December 31, 2014 Raw materials inventory $22,000 $30,000 Work in process inventory 20,300 17,200 Finished goods inventory 27,00 ...
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Question - Lee Chang opened Chang's Cleaning Service on July 1, 2010. During July the following transactions were completed. July 1 Chang invested $20,000 cash in the business. July 1 Purchased used truck for $9,000, pay ...
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Question - If you earned an income of $36,500 in wages and other contractual income of $42,600 working under your own ABN, making a net profit of $38,500, what would be your total assessable income?
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Question - The allowance for doubtful debts account had a balance of $2200 before bad debts of $1400 were written off and the allowance was adjusted to 10% of the accounts receivable balance of $20 000. Compute the new a ...
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Question - Splish Company purchased equipment on January 2, 2013, for $ 111,400. The equipment had an estimated useful life of 5 years with an estimated salvage value of $ 12,400. Splish uses straight-line depreciation o ...
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