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Customer returns 2 defective items 10 days after paying and getting a 2% discount. Sales Discounts has a journal entry of -20 {(2,000 x .02) x 1/2}. Why is it multiplied by 1/2?
during its most recent fiscal year simon enterprises sold 310000 electric screwdrivers at a price of 18.30 each. fixed
Distinguish general revenue from progam revenue. Provide several example of each.
bsu inc. wants to purchase a new machine for 35500 excluding 1400 of installation costs. the old machine was bought
trout company is considering introducing a new line of pagers targeting the preteen population. trout believes that if
Explain the important characteristics of Generally Accepted Accounting Principles or standards. Why are these characteristics of GAAP important?
Describe the elements of the Generally Accepted Auditing Standards (GAAS).
given the following information sales 5000 fixed expense 2000 variable exp 1750 what would expected net income be if
francis exchanges her 20 interest in beryl corporation for 10000 shares of pyrite corporation value 200000 and 40000
on january 1 2013 mclean company makes the two following acquisitions.purchases land having a fair market value of
the following transactions and events took place at the prescott company during its recent calendar-year reporting
Gallow's reported net income was $204,000, and Race's net income was $806,000. Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?
a company projects an increase in net income of 450000 each year for the next five years if it invests 1800000 in new
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