Public Question Time value of money 1. Harry invested $10,600 in an account that pays 4 percent simple interest. How much money will he have at the end of five years? a. 12,897 b.
What is the amount of its credit carryover and the last year to which the carryover could be used? Answer: $7,750 carried over to 2004 or 2025 4. Margolin Corporation has a regular taxable income of $120,000. It has a positive adjustment of $90,000, preference items of $50,000 and negative adjustments of $40,000. What is its alternative minimum tax?
Case 8-1 Columbia Corporation Prepared by For Professor C.E. Reese in partial fulfillment of the requirements for ACC508 – International Accounting School of Business/ Graduate Studies St. Thomas University Miami Gardens, Fla. Term A6/Fall, 2014 September 9, 2014 Table of Contents Issues……………………………..…………………………………………………………….….3 Facts…………………………….…………………………………………………………………4 Analysis……………………………………………………………………………………………6 Conclusions/Recommendations…………………………………………………….……………12 References/Bibliography…………………………………………………………………………13 Issues Case 8-1 Columbia Corporation 1. Translate Swoboda’s financial statements into U.S. dollars in accordance with U.S. GAAP at December 31, Year 2: a. Assuming the Polish zloty is the
Question : (TCO 7) An understanding of life-cycle costs can lead to 5. Question : (TCO 7) Pritchard Company manufactures a product that has a variable cost of $30 per unit. Fixed costs total $1,500,000, allocated on the basis of the number
$24,000 increase D. $11,000 decrease 45. Hylow Corporation sells its product for $12 per unit. Next year, fixed expenses are expected to be $400,000 and variable expenses are expected to be $8 per unit. How many units must the company sell to generate net operating income of $80,000? A.
3. Social Security pensions are financed by voluntary contributions by workers. 4. The gross replacement rate measures the ratio of taxes paid per year by workers to their annual Social Security pension when they retire. 5.
Their inventory turnover was: A. 4.00 B. 3.75 C. 5.00 D. 4.50 3. Which of the following ratios is a stringent test of a company’s liquidity? A. current ratio.
Which of the following financial statements is concerned with the company at a point in time? balance sheet retained earnings statement statement of cash flows income statement 8. Next year Jenkins Traders will
– 133 2013 net sales / base year 2011 net sales = 800,000 / 600,000 = 1.33 1.33 x 100% = 133% 5. In analyzing financial statements, horizontal analysis is a- tool 6. Comparative balance sheets - are usually prepared for at least two years 7. Assume the following cost of goods sold data for a company: 2013 $1,500,000 2012 1,200,000 2011 1,000,000 If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? – 50% = New - Old Old 100 8.
2. Based on the following, calculate the costs of buying and of leasing a motor vehicle. Purchase Costs Leasing Costs Down payment $1,500 Security deposit $500 Loan payment $450 for 48 months Lease payment $450 for 36 months Estimated value at End of loan $4,000 End of lease charges $600 Opportunity cost interest rate: 4 percent 3. You can purchase a service contract for all of your major appliances for $180 a year. If the appliances are expected to last for 10 years, and you earn 5 percent on your savings, what would be the future value of the amount you would pay for the service contract?