Provided below are financial data for Integrated Devices Inc. and Allied Corporation. Current Year Prior Year Integrated Devices Inc. Net sales $ 900,000 $ 750,000 Net income 180,000 120,000 Operating cash flows 150,000 100,000 Total assets 800,000 600,000 Allied Corporation Net sales $ 500,000 $ 400,000 Net income 90,000 80,000 Operating cash flows 120,000 100,000 Total assets 750,000 500,000 Which company had a better asset turnover in the current year?

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?

Congressman patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. discuss the position of the congressman, giving consideration to tax rate structures (e.g., progressive, proportional, and regressive) and the concept of equity.