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Fresher Foods, Inc. orally agreed to purchase 1000 bushels of corn for $1.25 per bushel from Vernon, a farmer. Fresher paid $125 down and agreed to pay the remainder of the purchase price on delivery, which was scheduled for one week later. When Fresher tendered the balance of $1,125 on the scheduled day of delivery and requested the corn, Vernon refused to deliver it. Fresher sued Vernon for damages, claiming Vernon had breached their oral contract. Can Fresher recover? If so, to what extent?
part-1exercise 1issuance of stock prepare journal entries to record the issuance of 100000 shares of common stock at 20
Jax Recording Studio purchased $7,800 in electronic components from Music World. Jax signed a 60-day, 8% promissory note for $7,800. Music World's journal entry to record the collection on the maturity date is:
Allowances are made for significant increases in costs and volume if any. 2014 actual overhead costs included $1,500,000 of fixed costs and $600,000 of variable costs.Compute the overhead rate to be used for 2015.
How it affects gain or loss recognized on that asset and, consequently, taxes. Are there any economic, social, revenue, or political implications for these adjustments to the basis?
Calculation cost to make a product - Evaluate the lowest transfer price the Parts Division would accept for Product A?
EnterTech has noticed a significant decrease in the profitability of its line of portable CD players. The production manager believes that the source of the trouble is old, inefficient equipment used to manufacture the product. What nonfinancial fact..
Because of the uncertainty for the future cash flows and the discount rate, we cannot complete the balance sheet if we do have the income statement first. (a) Please discuss for how the uncertainty is related to earnings quality. (b) Can the uncer..
candy canes inc spends 100000 to buy sigar and peppermint in april. it produces its candy and sells it to distributors
question 1 on september 1 roshek office supply had an inventory of 31 calculators at a cost of 17 each. the company
Identify symptoms of a lack of internal control. Explain the impact of the missing journal entry on the financial statements of the company.
In the past, the 10 persons employed in the production of Fruta consisted of 4 senior workers and 6 assistants. During June, the company experimented with 5 senior workers and 5 assistants. Would you recommend that the new labor mix be continued?
Work in Process Inventory 25,000 Cash 25,000(This is for materials put into process and manufacturing Overhead 12,000 Cash 12,000(This is for bonuses paid to salespeople.
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