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PR 7-5A Bank reconciliation and entries
Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30 have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account.
The ABC Company, located in Boston, purchases a piece of equipment from a dealer in Chicago for $75,000. The cost of shipping the equipment, $6,000, will be paid for by ABC Co.
Red Corporation, which owns stock in Blue Corporation, had net operating income of $400,000 for the year. Blue pays Red a dividend of $60,000. Red takes a dividends received deduction of $48,000. Which of the following statements is correct?
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at a sales volume of 37500 units thoma corporations sales commissions a cost that is variable with respect to sales
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