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Journalize the following transactions for the Evans Company. Assume the company uses perpetual inventory system.
1) Sells merchandise for $645. Cost of merchandise sold $375.
2) Sells merchandise for $432 and accepts VISA as the form of payment. Cost of merchandise sold $195.
3) Sells merchandise on account for $670. Cost of merchandise sold for $438.
4) Credit card fees paid for the month is $85.
Which one of the following distributions is nontaxable?
afton co. purchased 24000 of 4 10-year davis county bonds on july 12 2012 directly from the county at par value. the
Bass Ltd has recently undertaken a Business Combination with Bream Ltd. At the start of negotiations, Bass Ltd owned 30% of the shares of Bream Ltd
Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate.
During the first year of coperations,Shapiro tool accumulated the following manufacturing costs: Raw materials puschased on account 8000 factory labor accrued 6000 incurred manufacturing overhead on account 4000 Prepare separate journal entries for e..
An aging of accounts receivable indicated that $192,000 are expected to become uncollectible. The amount of the adjusting entry for bad debts at December 31 is
Calculate the operating income or loss at a sales volume of30,000 tennis balls. Calculate the number of tennis balls that must be sold to earn aprofit of $80,000.
If in preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. The Balance Sheet columns will balance on completing the work sheet but with the wrong net income, if the amount sorted in error is:
recognition of concepts. jim armstrong operates a small company that books entershytainers for theaters parties
Suppose that the sales mix changes to 40% Aye, 25% Bee, and 35% Cee, what would be the new overall contribution margin ratio for the company?
What should Quinn report on its 2007 income statement as a result of the increase in fair value of the investments in 2007?
Alan, who is a security officer, is shot while on the job. As a result, Alan suffers from a leg injury and must spend most of his time in a wheelchair until his recovery. Alan's physician recommends that he install a whirlpool bath in his home for..
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