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On March 15th Monroe Sales sells $9,525.00 on account to Garrison Brewer with terms of 2/10, n/30. The cost of merchandise sold was $6,905.00.
Problem (a) Journalize the sale and the recognition of the cost of the sale.
Problem (b) On March 20th a $125.00 Credit Memo is given to Garrison Brewer due to merchandise that was damaged upon receipt. Journalize this event. The cost of the returned merchandise was $65.
Problem (c) On March 25th Garrison Brewer submits payment in full. Journalize this event.
The Pipeline Company recently traded in a pick-up truck or a newer model truck. The old truck’s book value was $1,000 and its fair value was $800. Pipeline paid $14,000 to complete the exchange. The exchange has commercial substance. Assume the same ..
problem 1. starting work-in-process is 2000 units units completed is 44000 units and ending work-in-progress is 3000
journal entries for sold merchandise inventory.1.2182009 sold 600000 merchandise inventory on account.nbsp all sales
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Joe Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inventory items, and authorizing the payment for these items. Which internal control principle, if any, is being violated..
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Prepare a partial trial balance using the data from your entries, and show the eliminations relating to the contract for the December 31, 20X1, consolidated worksheet.
Compute return on assets (ROA) for the fiscal year ending January 28, 2012. Interest income for this year was $3 million, so interest expense was $869 million
If during the year stocks go up 10% and bonds go up 4%, what % of your stocks should you sell to move into bonds when re balancing at the end of the year?
Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits, Prepare journal entries to record the November transactions.
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