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On February 1, Marino Marine Equipment sol several pieces of inventory to Soderberg sails for $7,000, by Soderberg signing a five month (12% annual interest rate) note, accrued monthly but all payable by June 30. Record on Marino's books the entry on June 30 the recognizes Soderberg's payment satisfying the note receivable.
atlas co. allows select customers to make purchases on credit. its other customers can use either of two credit cards
Of all the business processes in the Accounting Information Systems (AIS), which do you think is the hardest to control and why? Be specific in your discussion of internal controls.
the key to successful business operations is effective inventory management. discuss how this affects the financial
hennings travel company specializes in the production of travel items clocks personal care kits. the following data
management is considering purchasing an asset for 42000 that would have a useful life of 6 years and no salvage value.
On January 1, 2010, Lauren Corporation issued $40,000, 9%, ten-year bonds payable at 108. Interest is payable each December 31.
How much do you need to deposit on a monthly basis if the first payment is made in one month?
Roskoff subsequently paid this balance. At December 31, 2009, an analysis of the accounts receivable aging schedule indicated the need for an allowance for uncollectible accounts of $14,900.
account for basket purchase. lo 1. warehouse supply corporation obtained land a factory and manufacturing equipment in
Portsche Snow Removal's cost formula for its vehicle operating cost is $2,310 per month plus $317 per snow-day. For the month of November, the company planned for activity of 18 snow-days, but the actual level of activity was 20 snow-days. The act..
assume that ibm leased equipment that was carried at a cost of 150000 to sharon swander company. the term of the lease
A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed overhead of $120,000. The budget for 25,000 hours would reveal total overhead costs of:
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