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On December 5, 2010, Super Circuit Store sold gift certificates totaling $4,000. By December 31, 2010 all but $750 worth of these certificates had been redeemed for merchandise. Outstanding certificates were then redeemed by January 15, 2011.Required:1. Prepare journal entries on Super Circuit Store's books to reflect the preceding transactions.2. How would the gift certificates be reported on Super Circuit's balance sheet on December 31, 2010?
two divisions of a kringly corporation are involved in a dispute. division a purchases part 101 and division b
Determine the total relevant cost if parts are made inside the company. (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
Are the dividend distributions concentrated in the companies that are publicly traded corporations
cash -- 280000raw materials inventory -- 32000goods in process inventory -- 31000 2800 of direct materials 5000 of
plastics inc. is a company that operates in four different divisions. the following information relating to each
ingham inc. has the capacity to produce 10000 fax machines per year. ingham currently produces and sells 7000 units
Determine the prorated amount of the over-applied factory overhead that is chargeable to each of the accounts and prepare the journal entry to close the credit balance in Under- and Over-applied Factory Overhead.
Mitch Corporation's contribution margin ratio is 14% and its fixed monthly expenses are $87,000. If the company's sales for a month are $678,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expens..
1. blue lagoon corporation is projecting a cash balance of 31155 in its december 31 2011 balance sheet. blue lagoons
A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..
little books inc. recently reported 13 million of net income. its ebit was 28.6 million and its tax rate was 35. what
What relevant circumstances would justify finite uniformity rather than rigid uniformity for revenue recognition, and which approach is used in practice?
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