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Products Gamma and Delta are joint products. The joint production cost of the products is $800. Gamma has a market value of $500 at the split-off point. If Gamma is further processed at an additional cost of $600, its market value is $1,400. Product Delta has a market value of $1,100 at the split-off point. If Product Delta is further processed at an additional cost of $300, its market value is $1,400. Using the relative sales value method, calculate the joint product cost that would be allocated to Gamma and Delta. How do you know if one of the products should be further processed?
wolverine inc. began operations on january 1 of the current year with a 12400 cash balance. 45 of sales are collected
Innova also incurs 5% sales commission ($0.35) on each disc sold. Mudd Corporation offers Innova $4.75 per disc for 5,000 discs. Mudd would sell the discs under its own brand name in foreign markets not yet served by Innova.
skyline inc purchased a portfolio of available for sale securities during 2013. the cost of the securities was 14500.
The journal entry to adjust the books when the net credit sales method is used to account for bad debts will be: debit and credit?
Silva Corporation reported net sales of $240,000, $420,000, and $540,000 in the years 2007, 2008, and 2009 respectively. If 2007 is the base year, what is the trend percentage for 2009?
A company changes from percentage-of-completion to completed-contract, which is the method used for tax purposes. The entry to record this change should include a :
to meet projected annual sales greenleaf manufacturers inc. needs to produce 75000 machines for 2012. the estimated
Why is it important to properly value a business's assets and how does asset valuation impact the financial statements of an organization?
during its most recent fiscal year simon enterprises sold 310000 electric screwdrivers at a price of 18.30 each. fixed
Phipps Company borrowed $25,000 cash on October 1, 2009, and signed a six-month, 8% interest-bearing note payable with interest payable at maturity. Assuming that no adjusting entries have been made during the year, the amount of accrued interest ..
How is the adjustment recorded? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
molly and duke formed a partnership investing 240000 and 80000 respectively. determine their participation in the years
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