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The records of Mandy's Boutique report the following data for the month of April.
Sales $97,100 Purchases (at cost) $65,300Sales returns 3,600 Purchases (at sales price) 91,800Markups 11,700 Purchase returns (at cost) 3,600Markup cancellations 1,100 Purchase returns (at sales price) 5,000Markdowns 9,100 Beginning inventory (at cost) 36,182Markdown cancellations 4,300 Beginning inventory (at sales price) 50,400Freight on purchases 4,100
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answers to 0 decimal places, e.g. $28,987.)
Texark Inc., a calendar year taxpayer, reported $5,210,300 net income before tax on its financial statements prepared in accordance with GAAP. The corporation's records reveal the following information.
Gore Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2008, Gore reacquired 100 shares at $85 per share. On September 1, Gore reissued 60 shares at $90 per share.
The earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow at 7 percent per year in the future. Carpetto's common stock sells for $23 per share
Prepare the journal entries to record the depot (consider a plant asset) and the asset retirement obligation for the depot on Jan 1, 2012. Based on an effectieve-interest rate of 6% the fair value of the asset retirement obligation on Jan 1, 2012 ..
On May 10, 2007, Wiley, Inc remitted $91,450 to the state tax division for April 2007 sales. Calculate the amount of Wiley's April 2007 sales subject to sales tax, and, record the journal entry that would be made when the tax is paid:
Write a strategy on how GM should operate its financial aspect of the company to improve sales.
Calculate missing costs. Calculate cost formula for mixed cost using the high-low method. Calculate the total cost that would be incurred for the production of 8,000 units
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.
Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of calendar year when exchange rate was EUR.60 = AUD1.
Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business
The material price variance was 1370 favorable and find the standard price per kilogram for raw material?
A local church is studying the amount of offerings in an envelope from their early Sunday mornings services. The church studied 500 envelopes and found the following:
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