Prepare an income statement for the year ended December 31, 2009. (Assume that

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Accounting

pierce co has a june 30 fiscal year end. it estimated its annual property taxes to be 24000 based on last year's property tax bill and have accrued 2000 of property tax each month to marcher 31. its actual property tax assessment, received on april 30 is 25200 for the calendar...

Accounting

Please Help!!!! Trying to get a little help on working this accounting problem. Please help... Jawed enterprises uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead...

Accounting/math? check my work please

Cullumber Ltd. purchased a delivery truck on January 1, 2018, at a cost of $74,160. The truck is expected to have a residual value of $7,910 at the end of its 4-year useful life. Cullumber has a December 31 year end. Use the diminishing-balance method and assume the ...

accounting

Wilson Reed, the bookkeeper for Home Interior Improvements and Designs Company, has just finished posting the closing entries for the year to the ledger. He is concerned about the following balances: Capital account balance in the general ledger: $ 48,550 Ending capital ...

math

The average cost to attend a particular university in 1969 was $592 and in 2009 was $17,058. Let y be the average cost in the year x, where x = 0 represents the year 1969. Write a linear equation, in slope-intercept form, that models the growth in cost at that university in ...

business

You have recently learned that the company where you work is being sold for $275,000. The company’s income statement indicates current profits of $10,000 which have yet to be paid out as dividends. Assuming the company will remain a “growing concern” into the infinite ...

math

if man has to pay income tax at rate of 20% of the excess annual income over rs60000,syamal babu received rs 132000 as his annual income deducting income tax.His actual income is?

Accounting

During the week ended May 15, 2013, Scott Fairchild worked 40 hours. His regular hourly rate is $31. Assume that his earnings are subject to social security tax at a rate of 6.20 percent and Medicare tax at a rate of 1.45 percent. He also has deductions of $48 for federal ...

Calculus

The tank shown is full of water. Given that water weighs 62.5 lb/ft3, find the work required to pump the water out of the tank. The tank shown is a hemisphere with r = 5 ft. The water is to be pumped out at the top. First I solved for ri, ri / (5 - xi) = 5 / 5 ri = 5 - xi Vi...

accounting..help plz urgent!

An accounting report that shows the changes in capital during the accounting period is: a.) a balance sheet. b.) an income statement. c.) a statement of owner's equity. d.) All of these answers are correct.

fiance 200

How do I set this up? What do I do? I'm really confused on what to do. Please Help! · Complete using the financial statement below to calculate the 13 basic ratios found in the chapter. There is NO need to repeat the financial statements in your assignment. Just show the ...

finance

"given the profit loss (income statement) and balance sheet for Sam's sandwich delivery(table 4-8), answer the following: a. calculate the current and quick ratios. b. using the inventory figure on the balance sheet as average inventory, calculate the inventory turnover ratio...

Math

. Suppose you moved to another place where the cost of living was higher, but your job paid more there. If a new job at a different place doubled your income per year but also doubled your cost of living per year, then assuming your income per year-standard of living > 0, ...

Accounting/Finance

Temte Corporation is authorized to issue 1,000,000 shares of no-par common stock and 250,000 shares of 6 percent, $25 par value, cumulative preferred stock. These events affected stockholders’ equity during the first year of operations: 1. 125,000 shares of common stock were...

Finance

An income-producing property is priced at $600,000 and is expected to generatethe following after-tax cash flows: Year 1: $42,000; Year 2: $44,000; Year 3:$45,000; Year 4: $50,000; and Year 5: $650,000. Would an investor with arequired after-tax rate of return of 15 percent be...

Accounting

a net loss of $50,000 in 2009 and net income of $250,000 in 2010. The increase in net income of $300,000 can be stated as 200% increase cannot be stated as a percentage can be stated as 0% can be stated as 100% increase

Accounting1 - ethical issue

Discount Hardware Wishes to expand its business and has borrowed $200,000 from the Toronto Dominion Bank. As a condition for making this loan, the bank required discount hardware to maintain a current ratio of atleast 1.50 and a debt ratio of no more than 0.50, and to submit ...

Accounting

I have to do a research paper on the finance of GameStop, and I'm having problem with the first two questions: 1. If GameStop Corp chose to issue another round of corporate bonds, how much interest rate should they offer? 2. Assume that GameStop Corp did issue corporate bonds ...

Math

A manufacturing company is thinking of launching a new product. The company expects to sell $950,000 of the new product in the first year and $1,500,000 each year thereafter. Direct costs including labor and materials will be 45% of sales. Indirect incremental costs are ...

Accounting 2

Coldfoot Corp. estimates that its 20-1 income tax will be $74,000. Based on this estimate, it will make four quarterly payments of $18,500 each on April 15, June 15, September 15, and December 15.

Business Fiance

On November 1, 2009, Broom Company received a bank statement that showed a $2950 balance. Broom showed a $4010 checking account balance. The bank didn't return check No. 124 for $1080 and check No.138 for $720. A $3200 deposit made on October 30 was in transit. The bank ...

accounting

capital is balance sheet i think. but if i am wrong what catergorie does it fall in. income statement or statement of changes in owner equity, or balance sheet.

accounting

capital is balance sheet i think. but if i am wrong what catergorie does it fall in. income statement or statement of changes in owner equity, or balance sheet.

accounting

what catergorie does accounts payable belong to? income statement or statement of changes in owner equity or balance sheet. im not sure but i think balance sheet.

accounting

what catergorie does accounts payable belong to? income statement or statement of changes in owner equity or balance sheet. im not sure but i think balance sheet.

infinite math

Hey guys! really need help with this one!!! On December 31, 1995, a house is purchased with the buyer taking out a 30-year $90,000 mortgage at 9% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate: (A) the unpaid balance of the loan...

accounting

During 2008, Cynthia sold a vacat lot to Joseph for $180,000. Cynthia's adjusted basis in the lot was $101,000 and she incurred selling expenses of $7,000. Joseph paid Cynthia $30,000 down payment in 2008 and agreed to pay $30,000 per year plus interest for the next five years...

Cost accounting

(Comprehensive) Jackson Construction Company uses a job order costing system. In May 2008, Jackson made a $1,650,000 bid to build a pedestrian overpass over the beach highway in Gulfport, Mississippi. Jackson Construction won the bid and assigned #515 to the project. Its ...

Accounting

On July 15, 2009, Travis purchased some office furniture for $20,000 to be used in his business. He did not elect to expense the equipment under §179 or bonus. On December 15, 2011, he sells the equipment. What is his cost recovery deduction for 2011? A. $0 B. $1,749 c. $3,...

tax

On July 15, 2009, Travis purchased some office furniture for $20,000 to be used in his business. He did not elect to expense the equipment under §179 or bonus. On December 15, 2011, he sells the equipment. What is his cost recovery deduction for 2011? A. $0 B. $1,749 c. $3,...

Economics

Anna’s net income is $40,000 per year. What is the most she should spend towards housing each year?

accounting

I got the first two parts of this three part question figured out but I can't figure the last part here it is Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $327,600 for the year, and machine usage...

Int. Macro

Can some just point into the right direction on how to solve this? 1. Suppose you live four periods and earn income of $30,000, $60,000, and $90,000 in the first three periods, and then retire in the fourth period. Assume the interest rate is 0. a. Suppose you want to consume ...

question tax

Michelle attended a Canadian University on a full-time basis for eight months in 2014. Her only income for that year was $14,000 of employment income earned during the summer. She paid tuition fees of $7,000 in that year. Required: Determine the amount of tuition, education ...

Cost Accounting

Please somebody can help with the steps of this problem: Thank you (Comprehensive) Construction Company uses a job order costing system. In May 2008, company made a $1,650,000 bid to build a pedestrian overpass over the beach highway in Gulfport, Mississippi. Company ...

macroeconomic

Suppose in 2007 the United States Congress passes a minimum wage law that increases the minimum wage (the lowest legal wage) to $7.25 per hour and has a provision that increases the minimum wage at the beginning of each year based on the CPI for the previous year. a) If the ...

Business Finance

Please help!!!!!!!!!!! On November 1, 2009, Broom Company received a bank statement that showed a $2950 balance. Broom showed a $4010 checking account balance. The bank didn't return check No. 124 for $1080 and check No. 138 for $720. A $3200 deposit made on October 30 was in ...

real estate investment

You are considering purchasing a 12,000 square feet (4,000 sf. per floor), three story office building for $1,250,000 with closing to be on May 12. The top and bottom floors are preleased for $24 per sq, ft. annually and the middle floor for $20 annually. Land costs are ...

c programming , computer science

1-Write a program that determines the day number (1 to 366) in a year for a date that provided as input data. As an example, January 1, 1994, is day 1. December 31, 1994, is day 365. December 31, 1996, is day 366, since 1996 is a leap year. A year is a leap year if it is ...

accounting

Hi! I can't figure out this question...any help is greatly appreciated! In a common size financial statement, which of the following is given a percentage of 100 percent? a. total liabilities b. total assets c. net income d. cost of goods sold I was thinking net income, but I ...

bobpursly,.math

Ok, assume it equals zero. 2x + 3y -6=0 subtract 3y from each side. add six to each side. divide both sides by two. its how its in the book i'm suppost to solve for x. but how? How do I solve for the following: Directions solve each literal equation for the individual variable...

Math

1. For a particular year, a company has gross annual income of $780,000, annual expenses of $270,000, and allowed depreciation of $60,000. The company is located in a state where the first $200,000 corporate income is tax-free, and any income above that is taxed at a State ...

MATH Precalculus

1) A radioactive substance decays exponentially. A scientist begins with 150 milligrams of a radioactive substance. After 26 hours, 75 mg of the substance remains. How many milligrams will remain after 46 hours? 2) A house was valued at $110,000 in the year 1988. The value ...

Finance

Pearson Brothers recently reported an EBITDA of $9.0 million and net income of $2.7 million. It had $2.34 million of interest expense, and its corporate tax rate was 40%. What was its charge for depreciation and amortization? Could I get someone to help me on setting this up. ...

calc

The likelihood that a child will attend a live musical performance can be modeled by the following equation. q=0.01(0.0007 x**2+0.4 x +33) text( ) \(15<=x<=100\) Here, q is the fraction of children with annual household income x thousand dollars who will attend a live ...

Finance

Building an Income Statement Papa Roach Exterminators, Inc., has sales of $586,000, costs of $247,000, depreciation expense of $43,000, interest expense of $32,000, and a tax rate of 35 percent. What is the net income for this firm?

Managerial Economics

Please help with this question: A researched estimated that the price elasticity of demand for automobiles in the U.S. is -1.2, while the income elasticity if demand is 3.0. Next year, U.S. auto makes intend to increase the avg price of autos by 5%, and they expect consumers' ...

math

Mr. X invested a part of his investment in 10% bond A and a part in 15% bond B. His interest income during the first year is Rs.4,000. If he invests 20% more in10% bond A and 10 % more in 15% bond B, his income during the second year increases by Rs.500. His initial investment...

Management Accounting

Victoria Kite Company, a small Melbourne firm that sells kites on the Web wants a master budget for the next three months, beginning January 1, 2005. It desires an ending minimum cash balance of $5,000 each month. Sales are forecasted at an average wholesale selling price of $...

corporate finance

1)You have just turned 30 years old, have just received your MBA, and have accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as follows: Every dollar in the plan earns 7% per year. You cannot make withdrawals until you...

Statistics

A random sample of customer incomes yields a mean income of $35000 with a standard deviation of $4500. Assume that the distribution of the incomes in normal. What income range would include 90% of the most popular incomes?

Programming

1.Do the planning and write an algorithm to solve the following problem. Prepare test data for the example to test all possibilities and draw a trace table. Sam works at a coffee company where all the employees receive a bonus of R700, except the employees in the coffee ...

Accounting

Please help (Revenue Classification) Clark County had the following revenue sources in 2011: General property taxes $8,000,000 Restricted (for education) property taxes 570,000 Meals tax (restricted for economic development and tourism) 200,000 Fines and forfeits 82,000 ...

college math HELP!!!!!

Sharon has a total of $190,000 to invest in three types of mutual funds: growth, balanced, and income funds. Growth funds have a rate of return of 12%/year, balanced funds have a rate of return of 10%/year, and income funds have a return of 6%/year. The growth, balanced, and ...

economics

A recently released Gallup survey confirms the fears of many who oppose government-promoted gambling: the poorest among us are contributing much more to lottery revenues than those with higher incomes. The poll found that people who played the lottery with an income of less ...

Unisa

Flow chart of an if-then-else statement Sam works at a coffee company where all the employees receive a bonus of R700, except the employees in the coffee department 3, who receive a bonus of R850. Enter his gross salary and his personal department number. Calculate the total ...

Financial Accounting

I really need help please !!!!!!!!!!!!! 1. Accounting for payroll. Jimmy Paycheck earned $1,500 per month as the manager of a recording studio. Jimmy has 25% of his earning withheld for federal income taxes. There are no other amounts withheld except for those required by the ...

Finance

Unit 4 Individual Project Deliverable Length: 2-3 pages Details: A manufacturing company is thinking of launching a new product. The company expects to sell $950,000 of the new product in the first year and $1,500,000 each year thereafter. Direct costs including labor and ...

accounting

Determine the amount of interest expense that should be recorded in a year end adjusting entry under each of the following independent assumptions Interest rate 12%, Fiscal Year End December 31

Financial accounting

Last year Rattner had $5 million in operating income(EBIT). The company had net depreciation expense of $1 million and interest expense of $1 million; its corporate tax rate was 40 percent. The company had $14 million in current assets and $4 million in non-interest bearing ...

Math

Rick made $33000 last year he also made $3000 selling vases at craft shows.which part of rick income is fixed income?

Math

A 2009 by 2009 square has its length decreased by 50 and its width increased by 50. By how much does its area change? Thank you for your help!

ACCOUNTING

On July 1, 2011 you purchase and pay $36,000 for a three year insurance policy. How much will your insurance expense be this year and during the following three years under the cash and accrual basis methods? At December 31 of each year, how much will Pre-Paid Insurance be on ...

Math

John earns $21.60/hr and 40 hours a week (full time). Income tax is 7.05%. What is John's net income for 1 year (subtracted from tax)?

fin

Last year Rattner Robotics had $5 million in operating income (EBIT). The company had net depreciation expense of $1 million and interest expense of $1 million; its corporate tax rate was 40 percent. The company has $14 million in current assets and $4 million in non-interest-...

FINN 200

12. The Harmon Company manufactures skates. The company’s income statement for 2008 is as follows; Sales (20,000 tires at $60 each) . . . . . . . . . . . . . . . . . . . . . . . . $1,200,000 Less: Variable costs (20,000 tires at $30) . . . . . . . . . . . . . . . 600,000 ...

accounting

Cournot Company sells 100,000 wrenches for $12 a unit. Fixed costs are $300,000, and net income is $200,000. What should be reported as variable expenses in the CVP income statement? (a) $700,000. (c) $500,000. (b) $900,000. (d) $1,000,000.

Managerial Economics- need help

Basic Estimating – Week 2 A security analyst specializing in the stocks of the motion picture industry the relation between the number of movie theater tickets sold in December and the annual level of earnings in the motion picture industry. Time-series data for the last 15 ...

accounting

assume you want to retire next year. at that time you expect to have a retirement fund with 300,000 in it. assume you need to take out the money in the form of an annuity over a 20 year period, with the first withdraw occuring at the end of the first year of retirement. how ...

chem

How do you prepare a solution of 12 M HCl and want to prepare 500 mL of a 0.4 M solution. Assume you have a 500-mL volumetric flask

trig

A city averages 14 hours of daylight in June, 10 in December, 12 in both March and September. Assume that the number of hours of daylight varies sinusoidally over a period of one year. Write an expression for n, the number of hours of daylight, as a cosine function of t. Let t...

Finance

Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable ...

Math

A retired couple needs $12,000 per year in income to supplement their Social Security. They have $150,000 to invest to obtain this income. They have decided on two investment options: AA bonds yielding 10% per annum and a bank CD yielding 5%. (a) How much should be invested in...

Algebra

Suppose the estimated quadratic model Yt = 500 + 20 t - t2 is the best-fitting trend of sales of XYZ Inc. using data for the past twenty years (t = 1, 2,.., 20). Which statement is incorrect? A. The trend was higher in year 10 than in year 20. B. Latest year sales are no ...

Accounting

Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent had listed the land on the market for $120,000. The note calls for three equal blended payments of...

statistics

The income of college students is normally distributed with a mean income per year is $12,000 and a standard deviation of $6,000. a)If we randomly sample 25 college students, what is the probability that the average income of our sample is less than $4,000? b)If we randomly ...

precalc

Assume that this year, n = 1, the average annual salary for women in the United States is $25,000 and that it is increasing by 5% per year, meaning that each year the salary is 1.05 times what it was the previous year. Assume that the average annual salary for men is $30,000 ...

Accounting

Zell Company had sales of $1,800,000 and related cost of merchandise sold of $1,150,000 for its first year of operations ending December 31, 2016. Zell Company provides customers a refund for any returned or damaged merchandise. At the end of the year, Zell Company estimates ...

Child Education

Jack and Jill, two four-year-olds, are building a road with blocks. Give an example of an open-ended question. Give an example of a behavior reflection. an example of open-ended question: You each have build this road of blocks.

Accounting

The company’s fiscal year ends on December 31. Using the following information, compute depreciation for this machine for each of the 4 years using each of the following methods: Straight-line method Sum-of-years method Double-declining method Units-of-production Year ...

Consumer math

Cathy budgets 23% of her income for housing and 21% of her income for food. If she earns $18,000 per year, how much must she budget monthly for housing and food? a. $792 b. $660 c. $7,920 d. $61.30

economics

what are the arguments of high income, middle income, low income and corporate tax payers who are critical o the Canadian government's income tax policy.

Accounting

How do you calculate the 'Capital stock at the end of the year' with the following information? Revenues: $375,000 Expenses: $297,000 Net Income: $78,000 Retained earnings at the beginning of the year: 0 Retained earnings at the end of the year: $68,000 Liabilities at the end ...

math

1)Find the third iterate x3 of f(x)=x2-4 for an initial value of x0=2 A)-4 B)4 C)12 D)-12 I chose C 2)Use Pascal's triangle to expand:(w-x)5 This ones long so I chose w5-5w4x+10w3x3-10w2x4+5wx4-x5 3)Use the binomial Theorem to find the third term in the expression of:(n-2p)6 A...

Accounting

On April 1, 2009, the company paid an insurance company $5,000 for a two-year fire insurance policy. The entire $5,000 was debited to insurance expense. What is the Dec. 31, 2009 adusting journal entry? Prepaid Insurance xx Insurance expense xx I can't figure out the values ...

Geometry

The date December 31, 2043 can be written in the format 12/31/43. This is an example of a true mathematical statement because 12 + 31 = 43. Suppose I wanted to write dates in the 21st century for Valentine’s Day (which is always celebrated on February 14) that will also give...

ACCOUNTING

Need to prepare the bank reconciliation for Multi-Plex Health care at May31 and Record the entries called for by the reconciliation. The May 31 bank statement of Multi-Plex Health care has just arrived from first state bank.To prepare the bank reconciliation gather the ...

MBA

Imagine that you have to make a presentation on your MBA project to a group of your professors and industry experts. Prepare the following – a) A general statement of purpose b) A specific statement of purpose c) The key idea d) A brief audience analysis e) Delivery style.

MBA

Imagine that you have to make a presentation on your MBA project to a group of your professors and industry experts. Prepare the following – a) A general statement of purpose b) A specific statement of purpose c) The key idea d) A brief audience analysis e) Delivery style?

accounts

on july 01,2000, asok ltd. purchased a machine for Rs.1,08,000 and spent Rs.12000 on its installation.At the time of purchase it was estimated that the effective commercial life of the machine will be 12 years and after 12 years its salvage value will be Rs.12,000.prepare ...

accounting

Uncollectible Accounts—Percentage of Sales Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on December 31, in general journal form, for the estimated ...

accounting

Uncollectible Accounts—Percentage of Sales Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on December 31, in general journal form, for the estimated ...

acc/220

Write a 350- to 700-word paper describing a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows. How does a company use these financial statements to make future business decisions? Use and define the following terms in your paper ...

accounting

Jan.1 Beginning Inventory..300 units @ $3.00 Mar.5 Purchase..........… 900 units @ $4.00 Sept.3 Purchase...........… 1,000 units @ $5.00 Nov. 4 Purchase....… 500 units @ $7.00 During 2011, 1,000 units are sold at $10.00 each. Assume that the Periodic Invetory System is ...

Algebra

Carmella has $1200 invested in two stocks. One returns 8% per year and the other returns 12% per year. The income from the 8% stock is $3 more than the income from the %12 stock. How much did carmello invest in each stock? B) wrtie an equation about the amount camerllo ...

accounting

The following are the transaction of s company will in branch for 2(two) year they follow periodic inventory system. 1. Beginning inventory balance with in birr 10000 2. S company shipped merchandise is birr costing 80000 cash 20000 3. Birr sold merchandise costing 60000 for ...

Calculus

Sales of Version 5.0 of a computer software package start out high and decrease exponentially. At time t, in years, the sales are s(t)=20e^-t thousands of dollars per year. After 2 years, Version 6.0 of the software is released and replaces Version 5.0. Assume that all income ...

Finance

Dean and Jerry formed a partnership, agreeing to share profits and losses equally. Dean will receive a guaranteed payment of $48,000 per year. The partnership has $240,000 net income from operations for the year, before considering the guaranteed payment. What is Dean's share ...

Finance

4. Mary W atson is 24 years old and single, lives in an apartment, and has no dependents. She expects to earn $50,000 as a sales assistant. $4,500 of her wages will be withheld for year 2014. She also expected to have interest income $500. Estimate her taxable income, tax ...

math

The value of a car depreciate each year by 5% of its value at the beginning of that year . lf its value when new on first January 2000 was 10250, what was its value in January 2009, when it was 9 years old? give your answer, correct to three significant figures?

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