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Basically, we have FOB shipping point and FOB destination. With FOB shipping point, the ownership (title) passes to the buyer as soon as the merchandise leaves the seller's dock (i.e. in transit). With FOB destination, the title doesn't pass until the merchandise actually reaches the buyer's location.
Why might shipping terms be especially important at a company's fiscal year end?
At the end of fiscal year 2010, the Acme Company wishes to declare $50,000 in common stock dividends. They currently have 100,000 shares of common stock outstanding and 5,000 shares of $100 par value, 5%, cumulative preferred stock.
Maria Rivera, owner of Rivera Pharmacy, uses the direct write-off method in accounting for uncollectible accounts. Record the following transactions in general journal form.
in 2012 rec room sports reported earnings per share of 8.50 when its stock price was 212.50. in 2013 its earnings
Declared and paid a dividend to all shareholders. In which section of the cash flow statement will this action appear for both Ryan Corp. and Anna Corp?
a corporation adopted the doalr value lifo method of inventory valuation on dec 31 2011. its inventory at that date was
On January 30, Tensing Corporation bought supplies of $2,000. The supplies were all consumed in February. Determine which of the following statements is true regarding the accounting for these supplies.
What is the amount of the stockholders" equity (Jim Chu"s capital) as of November 1 of the current year? A. $37,720 b. $44,430 c. $21,500 d. $48,780 11. Al Shea is the sole owner and operator of SawTooth Company.
Inline Incorporated manufactures skates and equipment for in-line skating. The company offers a one-year warranty on all products. During 2012, the company recorded net sales of $3,887.4 million. Historically, about 2% of all sales are returned under..
callie is admitted to the adams amp beal partnership under the goodwill method. callie contributes cash of 20000 and
how does understanding the differences between fixed and variable cost behaviors help you manage a health care
Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing
Current sales would not be affected by the special order and no additional fixed costs would be incurred on the special order. Missouri company's change in profits if the order is accepted will be a ______
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