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1. Fosbre Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $150,000, and purchases for January through April totaled $500,000. Sales for the same period were $700,000. Fosbre's normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Fosbre's April 30 inventory that was destroyed by fire.
cane company manufactures two products called alpha and beta that sell for 120 and 80 respectively. each product uses
during 2011 gorilla corporation has net short-term capital gains of 70000 net long-term capital losses of 195000 and
newcar.com inc. an innovative internet-based automobile retailer based in ghana is beginning to seek customers in the
Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.
Compute the amount of depreciation for each of Years 1 through Years 3 using the straight-line depreciation method and the double declining balance method.
Digi Ltd. a company that manufactures sells and leases cranes has entered into an agreement to lease a crane to Alum Ltd. The crane cost Digi Ltd 570,000 to make and has a fair value of $75.400 on 1 July 2013. Alum is having difficulties meeting i..
oran refiners inc. processes sugar cane that it purchases from farmers. sugar cane is processed in batches. a batch of
two officers of corporation b disguised dividends as commissions and thus lowered the income tax on corporation bs
gross margin and contribution margin eastman kodak company is a provider of imaging technology products and services to
you are the accountant for sakuraba who is very angry. figure out his books for him or he might have to beat you.
SFAC No. 6, "Elements of Financial Statements," states that "an entity's assets, liabilities, and equity (net assets) all pertain to the same set of probable future economic benefits." Explain this statement.
hendricks inc. has an ending balance in retained earnings on december 31 2010 or 567432. during 2010 it had declared
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