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CComp, Inc. entered into the transactions listed below. Prepare CComp's entries, assuming use of the perpetual inventory system. Omit explanations.
Mar.
2 Purchased $450 of merchandise on credit, terms n/30.
6 Returned $75 of the items purchased on March 2.
8 Paid freight charges of $25 on the items purchased March 2.
16 Sold merchandise on credit for $600, terms n/15. The merchandise had a cost in inventory of $375.
17 Of the merchandise sold on March 16, $50 of it was returned. The items had cost to Highland of $15.
25 Received payment in full from the customer of March 16.
31 Paid for the merchandise purchased on March 2.
the machining division of ita international has a capacity of 2330 units. its sales and cost data areselling price per
It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the produ..
Bill Goggans died and left passive activity property to his nephew, Travis. Bill's basis in the activity was $30,000, while Travis' basis was stepped up to $50,000. Suspended losses amounted to $22,000. How much is the passive loss deduction that ..
What is the distinction, as drawn by the GASB, between a fiduciary fund and a permanent fund? How should governments report permanent fund and fiduciary fund balances and income in their government-wide statements?
Prepare a statement of cash flows (indirect method)for walker corportion for 2010. The 2010 and 2009 balanccer sheets of walker corporation follow. the 2010 income statement is also provided.
Compute the net operating income - assuming that the company uses absorption costing, compute the net operating income. Show computations.
please these one cant figure out how to prepare journal entries for these please help me.
On September 1, 2006, Sam's Shoe Co. issued $350,000 of 8% bonds. The bonds pay interest semiannually on January 1 and July 1 of each year. The bonds were sold at the face amount. How much cash did Sam's receive upon sal of the bonds?
Two-Variance Analysis: Service Company Example International Finance Incorporated issues letters of credit to importers for overseas purchases.
why is return on investmentroi one of the most valid measures of enterprise performance? how is it used as an internal
Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold. (The schedules may be in the appendix). Explain why some items have been excluded from the schedules.
Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2010, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income is ??
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