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A Credit Card Company agrees to transfer cash to Main Company five business days after the deposit of that company's credit card sales receipts. that company charges a 3% fee for all credit card sales. If Main Company deposits $65,000 credit card sales receipts, what will be the journal entries in the books of Main Company to record the sale and later, the receipt of sales proceeds?
Indicate which items on the list above would generally be reported as intangible assets in the balance sheet. Indicate how, if at all, the items not reportable as intangible assets would be reported in the financial statements
The sales clerk receives customer orders by phone. She prepares a four-copy sales order form. She files one copy, one copy goes to the warehouse clerk, one copy goes to credit clerk, and one copy is mailed to the customer.
Compute the price variance and efficiently variance for direct materials and for direct labor. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. Prepare a standard cost income st..
All of the following statements regarding a sales invoice are true except: A sales invoice is a type of source document. A sales invoice is used by sellers to record the sale and for control. A sales invoice is used by buyers to record purchases and ..
Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method. Prepare general journal entries to enter the transactions. Prepare the adjusting entry necessary on August 31 if financial statement..
A written off account that then pays, under the allowance method:
Crossbow Corp. produces a single product. Data concerning June's operations follow: Under variable costing, ending inventory on the balance sheet would be valued at: $10,000, $7,000, $9,000 and $12,000.
Calculate the total overhead flexible budget variance and production volume variance using a two-variance analysis. Explain to management team at Moore Manufacturing about the variances and evaluation of their performance.
Review the companies' balance sheets, statements of income/operations, and statements of cash flows. Identify and describe five similarities
How can you use QuickBooks Accountant to modify any report? What circumstances require the Fixed Asset list to be manually updated? How does the Fixed Asset Manager calculate current period depreciation?
Sandstone Corporation has one of its manufacturing plants operating on a single shift five-day week. The plant is operation at its full capacity (24,000 units of output per week) without the use of overtime or extra shifts. Operate a second shift. Th..
At the end of the first quarter, Entity A has handled a total of 360,000 service center calls. It recognizes revenue based on the proportion of calls completed relative to the total number of calls expected. How much revenue will Entity A recognize a..
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