Problem 12- 6 Statement of — Direct Method The income statement for Astro Inc. for 2010 is as follows: For the Year Ended December 31‚ 2010 Sales revenue $ 500‚000 Cost of goods sold 400‚000 Gross profit $ 100‚000 Operating expenses 180‚000 Loss before interest and taxes $ ( 80‚000) Interest expense 20‚000 Net loss $( 100‚000) Presented here are comparative balance sheets: December 31 2010 2009 Cash $ 95‚000 $ 80
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Question 1 1. The following is Addison Corporation’s contribution format income statement for last month: Sales $1‚000‚000 Less: Variable Expenses $ 700‚000 Contribution Margin $ 300‚000 Less: Fixed Expenses $ 180‚000 Operating Income $ 120‚000 The company has no beginning or ending inventories. A total of 20‚000 units were produced and sold last month. What is the company’s margin of safety in dollars? $400 000 10
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National income is a measure of the total value of goods and services produced in a country over a given period‚ usually a year. Simply‚ it is the total amount of income earned by the citizens of a nation. The term national income normally refers to the Gross National Product (GNP) of a country in a given year. GNP is a measure of the total market value of final goods and services produced by all the citizens of a nation in a year. There are three main approaches to measuring National Income these
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History Income tax levels in India were very high during 1950-1980‚ in 1970-71 there were 11 tax slabs with highest tax rate being 93.5% including surcharges. In 1973-74 highest rate was 97.5%. But to reduce tax evasion tax rates were reduced later on‚ by "1992-93" maximum tax rates were reduced to 40%. [2][3] [edit]Residential status‚ Scope of taxable income & Charge [edit]Charge to Income-tax Whose income exceeds the maximum amount‚ which is not chargeable to the income tax‚ is an assesse
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Administrative Ethics Melissa Johnson HCA/335 September 17‚ 2012 Ann Nevers Administrative Ethics Patient privacy in any medical facility is not only a right‚ but a law which was passed by the United States congress in 1996. The law provides the ability to transfer and continue health insurance coverage for Americans when the change or lose their jobs‚ reduces healthcare fraud and abuse‚ mandates industry wide standards for health care information on electronic billing‚ and requires confidential
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Case 5-1 Income Smoothing a. Firstly‚ investors tend to invest in companies with stable earnings rather than one with volatile earnings. With stable earnings‚ there will be more likely an issuance of dividends and investors could easily predict the company’s future earnings compared to one with unstable earnings. With consistent earnings generated‚ it gives investors a secured feeling that it will again generate earnings as predicted. Confidence in the growth of rate of earnings is crucial because
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capital gain and taxable income of $35‚000. If taxpayer collects the entire $10‚000 during the current year‚ $8‚000 needs to be included in gross income. True False 4. A cash basis taxpayer must include as income the proceeds from the sale of an account receivable to a collection agency. True False 5. If an account receivable written off during a prior year is subsequently collected during the current year‚ the amount collected must be included in the gross income of the current year
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comprehensive income PURPOSE AND SCOPE .01 This Section establishes standards for reporting and display of comprehensive income. It does not address issues of recognition or measurement for comprehensive income and its components. .02 This Section does not apply to not-for-profit organizations (see FINANCIAL STATEMENT PRESENTATION BY NOT-FOR-PROFIT ORGANIZATIONS‚ Section 4400). DEFINITIONS .03 The following terms are used in this Section with the meanings specified: (a) Comprehensive income is the
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Total‚ average‚ and marginal product Total Product Curve The total product (or total physical product) of a variable factor of production identifies what outputs are possible using various levels of the variable input. This can be displayed in either a chart that lists the output level corresponding to various levels of input‚ or a graph that summarizes the data into a “total product curve”. The diagram shows a typical total product curve. In this example‚ output increases as more inputs
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Company Introduction‚ Market Segmentation & Product Positioning Antonio Sanguinetti Dr. Eva Ananiewicz Strayer University Marketing Management July 21‚ 2012 This paper will describe the details of a fictitious company and provided its background and will develop a marketing plan with a focus on segmenting and positioning its product and service. Thirdly‚ this paper will determine and decide upon at least one (1) foreign market for the product and service.; identify the marketing
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