Twin Lakes Mining Company Journal * Twin Lake mining Company‚ I represented the city of Tamarack in Minnesota. * There is serious problem between a city of Tamarack and the Twin Mining Company about few issues: Water‚ Air‚ Road conditions and taxes. * My Goal was to convince Twin Lake mining company to contribute with the city in all the government mandated clean ups and convince them that
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Administration - Sales - Sales promotion - Corporate services 2.) VARIABLE EXPENSES: COST/HOUR JAN. FEB. MAR. Power: 4.7 4.7 4.7 Operations (hourly personnel): 24 24 24 TOTAL: 28.7 28.7 28.7 3.) CONTRIBUTION MARGIN INCOME STATEMENT SALES/REVENUE Intracompany: 205 hrs * $400/hr = $82‚000 Commercial: 138 hrs * $800/hr = $110‚400 Total: 343 hrs $192‚400 VARIABLE EXPENSES Power: $4.7/hr * 343 hrs = $1‚612.10 Operations (hourly personnel): $24/hr
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CHAPTER 4 Income Statement and Related Information ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Income measurement concepts. Questions 1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 18‚ 28‚ 31‚ 32‚ 33 1 1‚ 2‚ 7 Brief Exercises Exercises Problems Concepts for Analysis 3‚ 4‚ 5‚ 6‚ 8 2. Computation of net income from balance sheets and selected accounts. Single-step income statements; earnings per share. Multiple-step income statements. Extraordinary items; accounting changes; discontinued operations;
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SCHINDLER’S LIST 1993 A Film by Steven Spielberg “Whoever saves one life‚ saves the world entire.” - Mishnah Sanhedrin 4:5; Babylonian Talmud Oskar Schindler Liam Neeson as Oskar Schindler CAST: MAIN • Liam Neeson as Oskar Schindler‚ a German Nazi businessman who saves the lives of over 1‚100 Jews by employing them in his factory. • Ben Kingsley as Itzhak Stern‚ Schindler’s accountant and business partner. • Ralph Fiennes as Amon Göth
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Question No. 01. Anwar F. Accawi starts the essay “The Telephone” by telling about the way people in his village looked at the time was to notify that time was not important for the people who lived in his village at his period. Accawi in his first paragraph writes that “time didn’t mean much to anybody‚ except may be to those who were dying ‚ or those waiting appear in court…” from these lines Accawi tries to states that time was not important for every people in his village except for some who
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Introduction Peter Flores‚ president of Salem Telephone Company (STC) informed the Public Service Commission “that a profitable computer service Subsidiary would reduce pressure for the telephone rate increase.” And a result‚ Salem Data Services (SDS) was established. In 2003‚ SDS has “yet to experience a profitable month” and this induced the meeting between Peter Flores and Cynthia Wu‚ manager of SDS in April 2004. Flores and Wu held different views in regards to SDS; Flores felt SDS was draining
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Refer to the list of income statement items in Problem 2-6A. Assume that Corbin Enterprises classifies all operating expenses into two categories: (1) Selling and (2) General and administrative. Required 1. Prepare a multiple-step income statement for the year ended December 31‚ 2010. 2. What advantages do you see in this form for the income statement? 3. Compute Corbin’s profit margin. 4. Comment on Corbin’s profitability. What other factors need to be taken into account to assess Corbin’s profitability
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Case Study #1. Salem Telephone Company 1. Variable expenses: Power (the more hours sold‚ the more energy consumed) The hourly personnel (operations) works only when the computers are in operation Fixed expenses: The rent has to be paid despite any level of production ($8‚000 monthly) The custodial services depend on Salem Telephone’s estimated space‚ they are independent from the revenue of the Company The computer leases were acquired to run the business (before it was actually started
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Instructions (a) Prepare a multiple-step income statement for 2012. Assume that 60‚000 shares of common stock are outstanding. Brokaw Corp Income Statement For The Year Ended December 31‚ 2012 Sales Revenue Net Sales $1‚200‚000 Cost of Goods Sold 780‚000 Gross Profit 420‚000 Operating Expenses Selling Expenses $65‚000 Administration Expenses $48‚000 113‚000 Income from operations 307‚000
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Historical cost basis. Book value method. x Income statement approach. 4. (TCO G) The conclusions presented in FASB No. 157 support which FASB Conceptual Framework? (Points : 2) FASB Conceptual Framework No. 2 FASB Conceptual Framework No. 6 FASB Conceptual Framework No
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