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…
Short-term production function: Q = 50L + 6L2 – 0.5L3 a. When does the law of diminishing returns begins to take effect? b. Calculate the value range of labor during phases 1, 2 and 3. c. Suppose that each worker…
A semiannual, 6 percent bond matures in 14 years and has a face value of $1,000. The market quote on this bond is 1,027. What is the aftertax cost of debt if the tax rate is 34 percent? 3.55 percent…
