The following information is available for Remmers corporation for 2010. a. Depreciation reported on the tax return exceeded depreciation reported on the income statement by 120‚000. This difference will reverse in equal amounts of 30‚000 over the years 2011-2014. B. Interest received on municipal bonds was 10‚000. C. Rent collected in advance on Jan 1 2010 totaled 60‚000 for a 3 year period. Of this amount 40‚000 was reported as unearned at Dec 31 for book purposes. D. The tax rates are 40% for
Premium Generally Accepted Accounting Principles Taxation Taxation in the United States
You’ve been looking for a job as an administrative assistant for three months now. You know you have a good resume‚ and obviously your application letters have been good because you’ve been invited for eight interviews. However‚ after each interview‚ you have failed to receive a job offer. Baffled‚ you prepare harder by quizzing yourself with standard questions‚ and even having a friend do a mock interview with you. But are the answers you give to questions the reason you aren’t being offered the
Premium Employment Psychology Human physical appearance
What are the different Principles applying to Objectives in Management? In: Business & Finance‚ Business Plans‚ Project Management [Edit categories] Answer:1.principle of attainability 2.principle of acceptability 3.principle of communication 4.principle of clarity and or simplicity 5.the motivational principle 6.principle of suitability 7.the principle of commitment From Scientific to Administrative Back around 1860‚ Henri Fayol‚ a then-young engineer‚ began working at a coal
Premium Management
Corporate Accounting III Assignment 2 Question 1: What is the difference between direct and indirect NCI? Under AASB127‚ the group is required to prepare the consolidation statement when parent entity acquires shares in the subsidiary. There are two parties who own shares in the subsidiary if it’s not a wholly-owned subsidiary consolidation. One is the parent entity while the other is non-controlling interest. Non-controlling interest (NCI) is defined as “the portion of the profit or loss and
Premium Generally Accepted Accounting Principles Balance sheet Stock market
21. Calculating Cash Flows. Xu Tong Manufacturers had the following operating results for 2010: sales = $19‚ 780; cost of goods sold = $13‚980; depreciation expenses = $2‚370; interest expense = $345; dividends paid = $400. At the beginning of the year‚ net fixed assets were $13‚800‚ current assets were $2‚940 and current liabilities were $2‚070. At the end of the year‚ net fixed assets were $16‚340‚ current assets were $3‚280‚ and current liabilities were $2‚160. The tax rate for 2010 was
Premium Generally Accepted Accounting Principles Depreciation
AirThread Valuation of AirThread This case deals with the valuation of AirThread Connections Business (ATC) from the perspective of its potential acquirer‚ American Cable Communication (ACC). ACC is a large cable operator which serves the video‚ internet and landline telephony needs of millions of users across America. However it is recently looking to acquire ATC which is one of the largest wireless companies in the United States. This acquisition will bring with it certain synergies that both
Premium Generally Accepted Accounting Principles Accounts receivable Inventory
The Principles for Government A government is the system by which a state or community is governed. In the case of its broad definition‚ government normally consists of legislative‚ executive and judicial. Government is the means by which state policy is enforced‚ as well as the mechanism for determining the policy of the state. A form of government‚ or form of state governance‚ refers to the set of political systems and institutions that make up the organization of a specific government.
Premium Government
Problems –Financial Statement‚ Taxes and Cash flows: 1) Penguin Pucks Inc has current assets of $5100‚ net fixed assets of 23800 current liabilities of $4300 and long term debt of $7400.What is the value of the shareholder equity account for this firm ? How much is the net working capital? 2) Papa Roach Exterminators Inc has sales of $586000‚ costs of $247000‚ depreciation expense of$43000‚ interest expense of $32000 and a tax rate of 35 per cent .What is the net income for this firm?
Premium Generally Accepted Accounting Principles Inventory Depreciation
Break question – Chapter 13‚ lecture #1 Wilk Co. reported the following liabilities at December 31 of the current year: Accounts Payable – trade 750‚000 Short-term borrowings 400‚000 Bank loan‚ current portion $100‚000 3‚500‚000 Other bank loan 1‚000‚000 The bank loan of $3‚500‚000 was in violation of the loan agreement. The creditor had not waived the rights for the loan. Half the other bank loan will mature on June 30 next year‚ and the other half in the year following
Premium Generally Accepted Accounting Principles Debt Balance sheet
Chapter 12 Corporate Valuation and Financial Planning ANSWERS TO END-OF-CHAPTER QUESTIONS 12-1 a. The operating plan provides detailed implementation guidance designed to accomplish corporate objectives. It details who is responsible for what particular function‚ and when specific tasks are to be accomplished. The financial plan details the financial aspects of the corporation’s operating plan. b. Spontaneous liabilities are the first source of expansion capital as these accounts increase
Premium Generally Accepted Accounting Principles Balance sheet Financial ratios