Engineering students class of 2019 is considering opening an engineering consulting firm after graduation. The investment required (including training and installation costs) in office equipment, computers and software is $450,000 (MACRS-GDS 5-year recovery period). Installation costs incurred are expected to be $25,000. They have savings equivalent to 30% of the total investment, and the rest will be financed with a loan that charges annual interest rate of 6%. The bank has agreed that only interest payments will be done during the first two years, and the principal (and interest for year 3) payment until the end of year 3. The estimates of the annual revenue for the first year are unknown (Y) but they are certain that they will increase by 5% each year thereafter. The annual operating and maintenance cost during the first year are expected to be $145,000, increasing with a gradient series of $10,000 each year thereafter. The firm plans to run the business for 4 years and to sell its assets at the end of that period at an estimated salvage value of $140,000. The firm plans to use a MARR of 8%, a tax rate of 35% and to claim any deduction allowed during the first year. Determine the minimum revenue Y required in year one such that the firm breaks even at MARR. Recall that each year thereafter the revenue increases by 5% from the previous year

The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities

You are frustrated to find that the only way to contact the customer service department is to make a phone call. the number listed would result in long distance charges to your phone bill. which issue should be addressed by the company to keep its crm in line with your expectations?

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to