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When heavy rain ruined the banana crop in central america theprice of bananas rose from $1 pound to $2 pound . Banana sellerssold fewer bananas but their total revenue remained unchanged
a) by how much did the quantity demanded of bananaschangeb) Is teh demand for bananas from central america elastic orinelastic
Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Shupe Inc. estimates uncollectible accounts based on the percentage of account receivable. What effect will recording the estimate of uncollectible accounts have on the accounting equation?
What characteristics will automatically exclude an item from being classified as inventory?
Manufacturing costs consisited of direct labor,$30000,direct materials $32000,varible manufaacturing overhead,$3500,fixed manufactring overhead $21500.Selling and administrative costs are all fixed and totaled $24000.Beginning inventory consists o..
Complete the consolidation working papers for Owl Corporation and Subsidiary.
On January 1, 2011 Miller Corporation had retained earnings of $18,000. During 2010, Miller reported net income of $25,000, declared and paid dividends of $20,000, and issued stock for $10,000. What were Miller's retained earnings on December 31, ..
Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses.
As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each month's sales are for cash. Of the remaining..
Twyla Enterprises uses a word processing computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up with the volume of sales invoices.
Logan Appliances purchased $8,000 of merchandise, 2/10, n/30, FOB shipping point. The seller prepaid the shipping charges of $200. If Logan pays for this merchandise within the discount period, how much should Logan remit to the seller?
If 3,500,000 finished units were made, determine amount of raw materials to be purchased.
XYZ Company accepted a national credit card for a $3,000 purchase. The cost of the goods sold is $2,400. The credit card company charges a 3% fee. What is the impact of this transaction on net operating income?
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