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Eastman Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following. Inventory (beginning) $ 84,200 Sales revenue $425,900 Purchases 301,800 Sales returns 21,300 Purchase returns 28,300 Gross profit% based on net selling price 33% Merchandise with a selling price of $35,100 remained undamaged after the fire, and damaged merchandise has a net realizable value of $9,060. The company does not carry fire insurance on its inventory. Compute the amount of inventory fire loss. (Do not use the retail inventory method.
Show the effect on the accounting equation of the following events for the APRIL Company.
Akerley, Inc., produces and sells a single product. The product sells for $140.00 per unit and its variable expense is $42.00 per unit. The company's monthly fixed expense is $393,960. Find out the monthly break-even in unit sales.
Kari's Kookies has total costs of $5,000 when 2,000 units are produced and $11,000 when 5,000 units are produced. Find the variable cost per unit?
Journalize all entries required on the abouve dates, including entries to update depreciation, where applicable, on assets disposed of. Thomas Company uses straight-line depreciation. (Assume depreciation is uo to date as of Dec 31 2005.
If the new business is expected to earn $72,000 of after-tax net income in the first year, what rate of return on beginning equity will Kelly earn under each alternative plan? Which plan will provided the higher expected return?
the company wants to have a minimum of 50000 cash balance at the end of each quarter.assume cash is borrowed at the
Assume that Dominum Company had the following balances in its receivable accounts on December 31, 2011.
Elucidate how the choice of the type of responsibility center affects behaviour. You should support your discussion by using real world examples.
How much gain must the SA general partnership recognize on the transfer of these assets from Sue and Andrew?
What is the amount of unrestricted Cash and Investments and what is the amount restricted Cash and Investments
prepare direct materials price variance efficiency variancelabor rate variance labor efficiency variance and pass
as discussed in the chapter an important consideration in evaluating current liabilities is a companys operating cycle.
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