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Dims dale Sports cash sales and credit sales represent 25% and 75% respectively, of total sales. Of the credit sales, 60% is collected in the first month after the month of sales and 40% in the second month after the month of sales. For the December 31, 2013, accounts receivable balance, 125,000 is collected in January and the remaining 400,000 is collected in February.
For the second quarter, Evergreen Plant Nursery had gross sales of $214,300, sales returns and allowances of $26,540, and sales discounts of $1,988. What were Evergreen's net sales?
The end of year Account Payable is $30,000, and the beginning of year Account Payable is $10,000. If cost of goods sold for the year is $210,000,the amount of cash paid to suppliers is?
Prepare an absorption costing income statement for the quarter ending March 31 and prepare a balance sheet as of March 31.
According to Rosenspan v. United States (438 F.2d 905 (2d Cir. 1971), for purposes of I.R.C Sec. 162, is her home in City or Metro? Why?
On June 30, 2011, Rix Corporation had $10,000,000 of 9 percent bonds outstanding. The maturity date is June 30, 2016.. Interest is paid semiannually every June 30 and December 31. All the bonds were redeemed on June 30, 2011, at 98. At the time of th..
Assume that a company sold a delivery van that had been used in the business for three years. Records of the company related to the van reflect the following.
Evaluate the engineering project when the MARR is 15% per year. Is the project acceptable? Project A Investment cost $10,000. Expected life 5 years. Market Value -$1,000. Annual receipts $8000. Annual expenses $4000.
Prepare journal entries tp record the encumbrance, billing and the Vouchers Payable liability in the Street Improvement Fund and governmental activities journals as appropriate.
The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?
the contribution margin for the current year and the projected year, and the fixed costs for the current year. (Assume that fixed costs will remain the same in the projected year.)
Jake steals Don's check book, writes out a check for $1000, forges Don's signature, and gets payment from Don's bank. The bank paid in good faith. Who is liable to the bank for the $1000 in this case?
Sixty pounds of corn and 25 lb of hops are available. Formulate an LP that can be used to maximize revenue. Solve the LP graphically.
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