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DOT ice cream, Inc., purchased inventory for its ice cream shop in August 2009 for $55,000 cash to sell in August and September. The company sold inventory that cost 32,000 in August and the remainder in September. What is the cost of goods sold for August 2009 and the cost of goods sold for September 20009 if DOT uses GAAP? What is the cost of goods sold for each month if DOT uses cash basis accounting?
For cost of goods sold with a zero balance, make sure to enter zero in the appropriate cell.
Curtis Corporation's balance sheet included the following:Common Stock, $5 par value, 5,000 shares issuedand outstanding $25,000Retained Earnings 20,000Total Stockholders' Equity $45,000Prepare journal entries for the following transactions.Ma..
question 1 on january 1 2012 barwood corporation granted 5040 options to executives. each option entitles the holder to
Who are the stakeholders in this case. Does the president's request pose an ethical dilemma for the controller? Should the controller be concerned with the company's growth rate? explain
Your posts are very good and state that management should focus on the success of the business rather than managing income to their benefit. This gets into ethics, where if you keep doing the right thing you will reap the benefits with bonus's and..
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many accounting writers have emphasized the effect that the can have on managerial incentives to overproduce. when
paulinersquos pastry shop decides to remodel its offices this year.nbsp as part of the remodeling paulinersquos trades
Calculate the traditional payback period, IRR, NPV, and PVI (present value index) for the project with the following cash flows. The opportunity cost of capital for the project is 14%.
Prepare journal entries to record Tasha's income tax expense for the current year. Show well-labeled supporting computations for the income tax payable, the valuation allowance, and the change in the deferred tax asset account.
Explain why Food Lion must write down the current carrying value of its unprofitable stores. Explain why the recent $9.5 million charge to write down these impaired assets is considered a noncash expense.
From the e-Activity, identify the company, the accounting impropriety or illegality, how it was detected, the outcome, and propose a strategy that might have prevented the situation. Indicate how the strategy should be implemented.
find material usage variance material price variance and material cost variance on the basis of facts which are as
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