Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Outdoor expo provides guided fishing tours. The company charges $200 per person but offers a 10% for parties of four or more. Consider the following transactions during the month of May.
May 2: Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($900=$180X5) The tour is scheduled for May 7.
May 7: The fishing tour occurs. Outdoor Expo asks that the payment be made within 30 days of the tour and offers a 5% discount for payment within 15 days.
May 9: Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor expo has a strict policy of no discounts related to number of fish caught.
May 15: Upon a deeper investigation, management of Outdoor Expo discover that Charlene tour was led a by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due.
May 20: Charlene pays for the tour after deducting the sales allowance.
Required:1.) Record the necessary transactions for Outdoor Expo on each date.2.)Calculate the net sales.3.) Show how Outdoor Expo would present net sales in it's income statement.
Medical Instruments produces a variety of electronic medical devices. Compute the materials variances for silver tubing and comment on their meaning.
Jason Company determined that the budgeted cost of producing a product is $1.20 per unit. On June 1, there were 11,000 units on hand.
Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..
BunaBuna has been growing at a 15 percent annual rate and is expected to continue to do so for 3 more years. At that time, growth is expected to slow to a constant 4 percent rate.
CPA Smith completed an accounting engagement for the ACME Company on December 20, 20X1, and sent ACME a bill for $5,000 which ACME paid on January 25, 20X2. CPA Smith uses the cash basis of accounting
Discuss main objectives of non- profit-making organisations
The role and process of recognising depreciation in accounting reports, and by identifying accounting concepts which provide the justification for recognising depreciation.
Assume that the excerpts from the Powers Report shown in Exhibit 3 provide accurate descriptions of Andersen's involvement in Enron's accounting and financial reporting decisions. Given this assumption, do you believe that Andersen's involvement in t..
Explain/discuss the value of the stage-gate process of new product development-What is a project charter and a contract book? Explain/discuss their purpose and how they are related to each other?
Betsy receives a salary of $50,000 from her employer (a retail clothing store) and several fringe benefits. Her employer pays premiums of $300 for her $40,000 group term life insurance coverage and pays $2,400 for medical insurance premiums.
Suppose that on June 1, Rockin' Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $500. During June, Michael Martell, fund custodian, signs the following petty cash tickets:
Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as trading. Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as available for-sale.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd