Acc124Exam3FALL06SOLN

Acc124Exam3FALL06SOLN - NAME_ COMPREHENSIVE FINAL EXAM FALL...

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NAME____________________ COMPREHENSIVE FINAL EXAM FALL 2006 Solutions Short Answer Questions - 5 points each; 30 points total 1. Deferred Taxes $145,000 – ($42,000-$35,000) - $60,000 = $78,000 2. Equity Method $240,000 +30%($100,000) -30%($60,000) -30%($20,000) -30%($30,000) $237,000 3. EPS ($2,400,000+$5,000,000*6%*70%)/((600,000*8/12+720,000*4/12)+240,000)= $2,610,000/930,000 = $2.81 4. Leases ($6,000,000 - $828,000) * 8% * ½ = $206,880 5. Treasury Stock $75,000 – 2000*$35 – 500*$20 = $5,000 6. Bonds with warrants 60,000 bonds * 10 warrants per bond * $5 per warrant = $3,000,000 7. Retained earnings and dividends $90,000 - $10,000 loss - $9,000 stock dividend = $71,000 8. Revenue recognition / Construction $240,000 9. Revenue recognition / Installment sales $300,000*40% + $340,000*35% = $239,000 10. NOLs ($360,000) + $40,000*30% + $320,000*40% = $220,000 FINAL EXAM / FALL 2005 / Page 1 of 5
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NAME____________________ PROBLEM 1 - Statement of Cash Flows (25 points) Brahms Corporation
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This homework help was uploaded on 04/10/2008 for the course ACT 123 taught by Professor Venuti during the Fall '07 term at Hofstra University.

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Acc124Exam3FALL06SOLN - NAME_ COMPREHENSIVE FINAL EXAM FALL...

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