Entries by Hannah Wangui

During 2017, Lincoln Company hires 7 individuals who are certified to be members of a qualifying targeted group

During 2017, Lincoln Company hires 7 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $12,850 during the year. Lincoln Company’s work opportunity credit is $   Looking for a Similar Assignment? Order now and Get 10% Discount! Use […]

 

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Following are preacquisition financial balances for Padre Company and Sol Company as of December 31

Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts.   Padre Company Sol Company   Book Values Book Values Fair Values   12/31 12/31 12/31 Cash   $ 526,750       $ 88,800       $ 88,800   […]

 

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In late 2016, Randy and Rachel Erwin paid $8,375 in legal fees

In late 2016, Randy and Rachel Erwin paid $8,375 in legal fees, adoption fees, and other expenses directly related to the adoption of an infant son, Jameson. The adoption becomes final in 2017, and the Erwins then pay an additional $9,631 in adoption fees. Their 2017 AGI amounts to $140,000. a. Randy and Rachel are eligible […]

 

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Direct Labor Variances The following data relate to labor cost for production of 6,200

Direct Labor VariancesThe following data relate to labor cost for production of 6,200 cellular telephones: Actual: 4,200 hrs. at $12.6  Standard:4,130 hrs. at $12.9  a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a […]

 

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