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1. Assume Baja Company has the following reported amounts: Sales $510,000, Sales returns and allowances $15,000, Cost of goods sold $350,000, Operating expenses $110,000. Compute the following:
(a) Net sales, (b) Gross profit, (c) Income from operations, and (d) Gross profit rate. (Round to one decimal place)
Merchandise subject to terms 1/10, n/30, FOB shipping point,is sold on account to a customer for $18,000. The seller issued acredit memorandum for $4,000 prior to payment. What is the amount of the cash discount allowable?
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Some companies implement systems to reduce defects in finished products with the goal of achieving zero defects. What are these systems called?
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What was the effect on net income of entering into the derivative transaction for the period January 2 to March 31, 2010? (Ignore tax effects.)
mcbean company has outstanding 11 million shares of 1 par value common stock and 1.1 million shares of 3 par value
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Year 3 amortization of differences between current fair values and carrying amounts of Scooter's identifiable net assets at the date of the business combination was $45,000. The noncontrolling interest in net income of Scooter for Year 3 was:
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