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Question - Selected information for 2018 is: cost of goods sold, $6,000,000; average inventory, $2,000,000; net sales, $8,000,000; average receivables, $980,000; and net income, $700,000. Assuming a 360-day year, what was the inventory turnover ratio for 2018?
After paying out $225,794 in dividends, the balance went into retained earnings. If the firm's total retained earnings were $846,972, what was the retained earnings on its balance sheet on July 1, 2010?
Edmondson Inc. produces and sells a single product. The selling price of the product is $200.00 per unit and its variable cost is $50.00 per unit. The fixed expense is $205,500 per month
Vega Cestas, Inc purchased a basket weaving machine on January 1. Calculate the amount of interest that will accrue each month on the note
explain what the 92.35% is and what OASDI and MHI is and how the sole proprietor tax is calculated
Using cost-plus pricing, what is the cost per unit and the price? What are advantages and disadvantages of cost-plus pricing
for perez company variable costs are 68 of sales and fixed costs are 215000.managements net income goal is
On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts?
Some savings and investment choices have the potential for higher earnings. However, these may also be difficult to convert to cash when you need the funds. This problem refers to
Cordova Tools has bonds outstanding during a year in which the market rate of interest has risen. If Cordova has elected the fair value option for the bonds, will it report a gain or a loss on the bonds for the year? Explain.
Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2006, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000.
as you have learned in this weeks readings the accounting equation is assets liabilities owners equity. is the
Equipment was purchased for $24,000 on January 1, 2016. Prepare the journal entry to record the sale of equipment
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