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1. On October 10, Tridant Inc. purchased 5,000desks at an invoice price of $300 each and paid for them on October20, earning a 3% cash discount. Tridant sold all of the desks at$600 each. The customer earned a 1% cash discount.
a. What amount should Tridant report as net sales?
b. What amount should Tridant report as cost of goods sold?
Both the facility and the equipment will be depreciated over 12 years using the straight-line method and are expected to have zero salvage values. His required rate of return is 10%. Estimated annual net income and cash flows are $49,000 and $101,..
John's car was completely destroyed by fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. W..
What is the purpose of internal controls? Be specific.
Mary, a U.S. citizen owned 25% of the stock of Floran Corporation, an electing S corporation. At the time of her death, the Floran stock may go to all the following without affecting the S election except
The partnership contract for Hanes and Jones LLP provides that Hanes is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partnership income before the bonus for the year i..
How is the business process level pattern for the conversion cycle similar to the business process pattern for the revenue cycle? How are the two patterns different?
Assess the importance of free cash flow in a growth company. Provide a brief scenario of a specific type of business that would benefit from free cash flow.
Nontaxable stock dividends result in: a. A higher cost per share for all shares than before the stock dividend. b. A lower cost per share for all shares than before the stock dividend.
Alpha Great Construction is using the percentage of completion method to recognize revenue:
baxtra inc. pays 20000 in cash as interest to its lenders during 2005. according to u.s. gaap in which section of the
what is the idea of performing an analysis of variance?why is it important to test for variances in your data?
On jan 1 07 daniels company contained these liability accts. Accts payable 42,500 Sales tax payable 6,600 Unearned service revenue 19,000 During january
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