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Edurado has started a small business making sundials. The following transactions occured for the business during a recent period. How much profit did the company earn for this period?
Sales to customers ............................................. $1,050
Rent for the period ................................................... 425
Supplies used during te period ...................................250
Wages for the period .................................................175
Suppose that on June 1, Rockin' Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $500. During June, Michael Martell, fund custodian, signs the following petty cash tickets:
In August, Gold Company sold 770 units of their only product. For the month, fixed costs were $10,400, variable costs were 57% of sales, and the average sales price was $62.
Warren Co. recorded a right-of-use asset of $900,000 in 8-year lease under which no profit was recorded at commencement by lessor-The balance in right-of-use asset after 2 years will be:
Orange Ltd. Withheld from its employees" paychecks $200,000 in Federal income and Social Security taxes for the May 29 payroll. It then spent the $200,000 on equipment upgrades, missing altogether the May 31 due date for the tax remittances. How m..
Assume that the company produced the equivalent of 11,700 units of product during the year just completed. What was the average cost per unit for direct materials? What was the average cost per unit for fixed manufacturing overhead?
Northwood paid $150,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to three places, and use your computed percentages throughtout.
Using Landry's Restaurants, Inc. 2003 Annual Report located in Appendix A of the text, Fundamentals of Financial Accounting, prepare a 1,050-1,750-word paper in which you answer ALL of the following questions, relative to the company and its annua..
Compute the failure to pay and failure to file penalties for John, who filed his 2010 income tax return on October 20, 2011, paying the $30000 amount due at that time.
Assuming that the long-term tax-exempt rate is 5%, what is the maximum amount Soft should be willing to pay Hard for its NOL, if Soft uses a 10% discount factor (which is 6.145) for this decision?
Compute the equivalent units of production for materials and conversion costs for the month of September: Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in ..
Freddy purchased a certificate of deposit for $20,000 on January 1, 2010. The certificate's maturity value in two years (December 31, 2011) is $22,050, yielding 5% before-tax interest.
A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..
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