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Installment-Sales Method Calculations, Entries Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2010 and 2011.
(a) Compute the amount of realized gross profit recognized in each year.
(b) Prepare all journal entries required in 2011.
assume that the operating resluts for last year were sales 400k variable exp. 160k cm 240k fe 180k net operating income
Suppose that Noven had $49,000 in an inventory of transdermal estrogen delivery patches. These patches are from an initial production run, and will be sold during the coming year.
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What could happen if an organization neglected to manage its working capital
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Declared and paid a dividend to all shareholders. In which section of the cash flow statement will this action appear for both Ryan Corp. and Anna Corp?
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If Nixon instead uses a perpetual inventory system, explain any changes to the journal entries created in requirements 1 and 2.
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