You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to…
In answering the following questions, it is given that the potential investment has the following range of possible outcomes and probabilities: 10% probability of a -20% return, 40% probability of a 15% return, 40% probability of a 25% return, and…
XYZ Company recorded the following information related to their inventory accounts for 2003: January 1, 2003 December 31, 2003Direct materials 10,000 17,000Work in process 11,000 ?Finished goods 16,000 9,000 Additional information is as follows: Direct materials purchased ………. $19,000Direct labor…
1) “SRK Airport” authority issued a series of 3.4 percent 30-year bonds in February 2012. Interest rates rose substantially in the following years of the issue and made the price of the bond decline. 13 years later, in February 2025…
A married husband and wife who file a joint tax return with AGI of $25,000 incurred the following documented expenses during the current tax year: Their insurance company reimbursed them $1,000. Hospitalization insurance premiums = $1,050; Psychiatric care = $300;…
Jeff Corporation purchased a limited-life intangeible asset for $120,000 on May 1, 2009. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by Dec 31, 2010? a.)…
The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wages payable, $9,000;…
Jack owns an auto repair shop, specializing in European cars. With three full-time mechanics, Jack’s shop repairs/services 15 cars per week. Each worker is paid $500 per week. By hiring another mechanic, at the same salary, he can increase his…
The bureau of labor statistics reported the following data for 2008: labor force: 154,287,000; employment: 145,362,000; working-age population: 233,788,000. calculate the unemployment rate.
Suppose that, as of the end of 2005, a country’s money supply is $1,200 million and the central bank’s holdings of domestic assets (a.k.a. domestic credit) are equal to $800 million. The country maintains a xed exchange rate, and prices…
