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For the fiscal year,sales were $5,280,000,sales discounts were $100,000, sales returns and allowances were $75,000 and the cost of the merchandise sold was $3,000,000.
A) what is the amount of net sales?
B) what is the amount of gross profit?
Junior Company currently buys 30,000 units of a part used to manufacture its product at $40 per unit. Recently the supplier informed Junior Company that a 20 percent increase will take effect next year.
Discuss how gift and estate taxes are "unified." What is the impact of taxable gifts on the donor's death tax base?
Sally vaguely remembers her tax professor in college warning the class that some real estate agents tend to oversell the tax benefits of home ownership. What factors would cause the actual tax savings of a $28,000 mortgage payment to be less than ..
Annual common fixed expenses for the company totals $100,000. During the year Greenville Goober sold 35,000 units of Product A and 20,000 units of Product B.
Find out the operating cash flow (OCF) for Kleczka, Inc., based upon the following data. (All values are in thousands of dollars.)
What is the overall completion percentage for the WIP as to direct materials at the end of period?
Which is better for preventing or detecting fraud a rules based system like US GAAP or a principles based system like IFRS? Please provide the reasons for your opinion.
Buffon Electronics Company issues a $1,000,000, 10%, 20-year mortgage note on January 1. The terms provide for semiannual installment payments, exclusive of real estate taxes and insurance, of $58,276. After the first installment payment, the prin..
A company issues 5% stock dividends, 15,000 shares, $2.00 par value, initially stock was $12, but current trading value is $20, what are the journal entries?
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
Cypress Corp., a calendar year corporation, purchased a $750,000 factory building in February, $240,000 of new machinery in April, $90,000 of new office furniture in August, $130,000 of used machinery in October, and $140,000 of new office furnitu..
Oatly is concerned about the collectability of outstanding loan and whether the trucks still exist. He thus engages Susan Virms, CPA, to count the trucks, using registration information held by Oatly.
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