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1. During the year, sales returns and allowances totaled $65,900. The cost of the merchandise returned was $40,000. The accountant recorded all the returns and allowances by debiting the sales account and crediting Cost of Merchandise Sold for $65,900. Was the accountant's method of recording returns acceptable? Explain. In your explanation, include the advantages of using a sales returns and allowances account.
Indicate how each of the following accounts should be classified in the stockholders' equity section.
Looking forward to next year, if Chester's current cash balance is $19,743 (000) and cash flows from operations next period are unchanged from this period, and Chester takes ONLY the following actions relating to cash flows from investing and fina..
Explain the concept behind the formulas of computing the variance analysis of direct materials, direct labor and factory overhead
The machine has a 5 year useful and has a salvage value of $3,000. The new machine will generate $8,000 in additional sales each year. Bob has a hurdle rate of 10%.
on december 1 loprice electronics has three dvd players left in stock. all are identical all are priced to sell at 85.
why does a company perform ratio analysis? what are the turnover ratios? describe the formula for one turnover ratio
wilson company has a predetermined overhead rate of 70 of direct labor cost. during the month 350000 of factory labor
on january1 kwum corporation purchase 25 equity in connorscorporation for 180000. at december 31 connors declared and
verify the ending inventory balance.
Goodwill effect on ROI and operating income. Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value.
Which of the main models of international classification of accounting do you prefer? Explain your reasoning.
how does market segmentation differ from market targeting?in the context of marketing what is a products position? how
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