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Corey's Campus Store has $50,000 of inventory on hand at the beginning of the month. During the month, the company buys $8,000 of merchandise and sells merchandise that had cost $30,000. At the end of the month, $25,000 of inventory is on hand.
How much shrinkage occurred during the month?
Calculating the project's net present value and evaluate each project's net present value
What action is required? Ignore taxes. Illustrate what action is required if the error is not discovered until 4 years after it occurred?
Prepare dated journal entries to record the transactions shown in question. Assume that Econ did not enter into a forward contract. Prepare dated journal entries to record the transactions question.
Harrier repurchases the stock in 2011. On its 2010 corporate income tax return, Harrier plans to deduct a net capital loss of $3,000. Determine the propriety of Harrier's plans.
Finding additional borrowings required from bank at given current ratio - What other potential sources of financing are available to the company?
What should Campbell record as a net deferred tax asset or liability for the year ended Dec 31 2011 assuming that the enacted tax rates in effect are 40% in 2011 and 35% in 2012?
Find out which case is FIFO and which is LIFO. State which case would result in the higher inventory value on the balance sheet and indicate why.
Prepare all required journal entries that the city should make for each transaction.
An investment project costs $21,500 and has annual cash flows of $4,200 for 6 years. If the discount rate is 20 percent, illustrate what is the discounted payback period?
Evaluate the basic earnings per share - Determine basic EPS, Ringemup, Inc. had net income of $473,400 for its fiscal year ended October 31, 2009
Recording Journal Entries - Lightning Fast Computer Company recently began operations and had the following transactions related to common stock. Prepare journal entries for each transaction.
Using any information you can obtain about this company and industry, write a report explaining this abnormal trend between the net income and the cash flow numbers and whether this should be a red flag to investors and creditors.
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