U.S. Tax Rate Schedule Assignment | Top Universities

Campbell, a single taxpayer, earns $290,000 in taxable income and $13,500 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: How much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? How much federal tax will she owe? (Do not round … Continue reading U.S. Tax Rate Schedule Assignment | Top Universities

Perpetual Inventory System Assignment | Top Universities

Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $275,000 a. Sold merchandise for cash (cost of merchandise $152,070). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $800). c. Sold merchandise (costing $9.000) to a customer, on account with terms … Continue reading Perpetual Inventory System Assignment | Top Universities

General Journal Transaction Assignment | Top Universities

Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $275,000 a. Sold merchandise for cash (cost of merchandise $152,070). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $800). c. Sold merchandise (costing $9,000) to a customer on account with terms … Continue reading General Journal Transaction Assignment | Top Universities

Canadian Tax Assignment | Top Universities

Canadian Tax Jack and Jill were married on December 1, 2018. Jill and her two children of a previous marriage moved into Jack’s home. Jill’s children are 14 and 16 and have no income.             Jack and Jill have the following income for tax purposes for 2018:                                                             Prior to the Marriage             Subsequent to the Marriage             Jack                                                    $33,000                                   $3,000             Jill                                                           9,800                                        800 … Continue reading Canadian Tax Assignment | Top Universities

Cane Company Manufactures Assignment | Top Universities

Cane Company manufactures two products called Alpha and Beta that sell for $240 and $162, respectively. Each product uses only one type of raw material that costs $5 per pound. The company has the capacity to annually produce 131,000 units of each product. Its average cost per unit for each product at this level of activity are given below: Alpha Beta Direct materials $ 35 … Continue reading Cane Company Manufactures Assignment | Top Universities

Profit-Sharing Program Assignment | Top Universities

Canisters Unlimited (8 points) The production manager at Canisters Unlimited needs to determine which product orders to fill. He has gathered the following data: Products 5900 1.000 1.500 Fixed cost (per week) Variable cost (per case) Selling Price (per case) Fill time per case (minutes) Cases ordered (per week) 33.00 $45.00 5240 12.00 $15.00 C 5600 45.00 $60.00 D 5600 16,00 $20.00 E $3.000 25.00 … Continue reading Profit-Sharing Program Assignment | Top Universities

Measures of Activity, Flights, and Passengers Assignment | Top Universities

Canniff Air uses two measures of activity, flights, and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $56,560 per month plus $2618 per night plus $5 per passenger. The company expected ts activity in February to be 63 fights and 254 passengers, but the actual activity was 62 fights and 255 passengers. The actual … Continue reading Measures of Activity, Flights, and Passengers Assignment | Top Universities

LIFO Retail Method Assignment | Top Universities

Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2021. On that date, the cost of the inventory on hand was $18,000 and its retail value was $20,000. Information for 2021 and 2022 is as follows: Ending Inventory at Retai1 $27,500 Retail Price Cost-to-Retail Date Index Percentage 12/31/2021 1.10 91% 93 12/31/2022 $42,000 1.40 Required: 1. What is the cost-to-retail percentage for the … Continue reading LIFO Retail Method Assignment | Top Universities

Capital Asset Spending Assignment | Top Universities

A) what is the capital asset spending for 2012? B) what is the combined cash flow from total assets ? Both current and fixed   Based on the following information for York Developments Inc., answer the questions below. The tax rate is 40% 2012 000s 2011 '000s 4,507 2,633 952 196 250 2,429 7,650 1,255 2,085 4,203 2,422 Sales COGS 785 Depreciation Interest expense Dividends … Continue reading Capital Asset Spending Assignment | Top Universities