E17-5 1 On the basis of the reorganization value‚ Baxter Hardware qualifies for fresh start reporting because the estimated reorganization value of $2‚000‚000 is less than the postpetition liabilities and allowed claims. | Estimated reorganization value | | $2‚000‚000 | | Liabilities: | | | | Postpetition liabilities | $1‚200‚000 | | | Prepetition liabilities | 1‚500‚000 | | | Fully secured debt | 900‚000 | 3‚600‚000 | | Excess liabilities over reorganization value
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A) Straight-line Depreciation Computation End of Year Year DC X DR = ADE AD BV 2012 220‚000 25% 55‚000 55‚000 195‚000 2013 220‚000 25% 55‚000 110‚000 140‚000 2014 220‚000 25% 55‚000 165‚000 85‚000 2015 220‚000 25% 55‚000 220‚000 30‚000 ($250‚000 – $30‚000) 1/4 = 25% Please note abbreviations are the same as bellow Double- Declining-Balance Depreciation Computation End of Year Book Value Annual
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ACCOUNTING EXAM 2 STUDY GUIDE Chapter 5 1. Know the following terms: merchandise inventory‚ sales‚ sales returns and allowances‚ sales discounts‚ net sales‚ cost of merchandise sold‚ gross profit‚ operating expenses‚ operating cycle‚ purchase discounts‚ purchase returns and allowances‚ FOB shipping point‚ FOB destination‚ and inventory shrinkage. 2. Be able to prepare a multiple step income statement. 3. Be able to prepare the journal entries for the seller and buyer including
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KEY CONCEPTS • managerial economics • theory of the firm • expected value maximization • value of the firm • present value • optimize • satisfice • business profit • normal rate of return • economic profit • profit margin • return on stockholders’ equity • frictional profit theory • monopoly profit theory • innovation profit theory • compensatory profit theory Managers‚ Profits‚ and Markets Chapter 1 How Is Managerial Economics Useful? • Evaluating Choice Alternatives • Identify ways
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Name___________________________________ ESSAY. Write your answer in the space provided or on a separate sheet of paper. 1) For each of the following changes‚ show the effect on the demand curve and state what will happen to market equilibrium price and quantity in the short run. a. Consumers expect that the price of the good will be higher in the future. b. The price of a substitute good rises. c. Consumer incomes fall‚ and the good is normal. d. Consumer incomes fall‚ and the good
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Governmental Acct. Chapter 1 Homework 1-1) What justifies the different accounting & financial reporting practices of gvmt. & not-for-profit organizations as compared with business organizations? The fact that governments may have a monopoly on the services that they provide and the taxpayers must provide resources to them regardless of what they are‚ and efficiency is hard to measure as well as the quantity or quality of the services. 1-2) Describe the principal differences that distinguish
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Assignment 14 1. Andrew Johnson- A political leader of the nineteenth century. He was vice president in 1864 and became president when Abraham Lincoln was assassinated in 1865. He was an honest man but an unfortunate President. He is one of the two presidents that have been impeached. The House of Representatives charged him with illegally dismissing a government official. The senate tired him and he was acquitted by only one vote. He grew up in poverty and opened a tailor shop in Tennessee. He
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Grade 45/50 Managerial Accounting 505 Case Study Week 3 A. What is the break-even point in passengers and revenues per month? Total Per Unit Percent Sales: 160 X 90 $14‚400 $ 160 100% Less variable costs/expenses: .70 X 90 $ 6‚300 $70 44% Contribution margin: $ 8‚100 $90 56% Less fixed costs/expense: $3‚150‚000 Net operating income: $3‚141‚900 8‚100 /14‚400 = 56% 100 - 56 = 44% BEP in passengers
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Week Two Read Me First MANAGERIAL BUDGETING Introduction This week covers the various cost descriptors such as fixed‚ variable‚ direct‚ indirect and the budget cycle. We will discuss applying cost-benefit analysis to an organizational situation and how it is used at different levels of public budgeting‚ governmental‚ and non-profit accounting. We will discuss line item budgeting‚ program budgeting‚ and performance budgeting This Week in Relation to the Course In the first week we
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Benedictine University Managerial Economics Individual Work-1 Unit Tutor: Char Lee Racine Student name：Gu Haizhen (Vivian) Date of issue: September 6‚ 2010 Date of submission: September 13‚ 2010 Contents I. 3 II. 4 III. 7 VI. 9 Technical problems I. During a year of operation‚ a firm collects $175‚000 in revenue and spends $80‚000 on raw materials‚ labor expense‚ utilities‚ and rent. The owners of the
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