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Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 4% charge on sales for using its card. On June 28, Hankco had $3,300 in Omni Card credit sales. What entry should Hankco make on June 28 to record the deposit?Debit Cash $3,300; credit Sales $3,300.Debit Cash $3,168; debit Credit Card Expense $132; credit Sales $3,300.Debit Cash $3,432; credit Credit Card Expense $132; credit Sales $3,300.Debit Accounts Receivable $3,300; credit Sales $3,300.Debit Accounts Receivable $3,168; debit Credit Card Expense $132; credit Sales $3,300.
The following department data are avalable :Total materials costs $ 120000 equivalent units of materials 60000 total conversion costs $ 70000 Equivalent units of conversion costs 30000 what is the total manufacturing cost per unit?
Examine the corporate financial decision-making procedure at your selected organization (Walt Disney). In your analysis be sure to address the following items:
James purchased a new business asset (three-year property) on July 23, 2009, at a cost of $50,000. He did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Determine the cost recovery deduction for 20..
How does a customer benefit by our spending $50,000 on a supposedly better accounting system?" How should the controller respond?
How much goodwill did World Media purchase as part of the acquisition of The Dandy Dime?
ED Products Corp. chooses to process the butter further into spreadable butter by mixing it with canola oil, incurring an additional cost of $1.60 per pound. This process results in two tubs of spreadable butter for each pound of butter processed...
Suppose that in 2010, Global launches an aggressive marketing campaign that boosts sales by 15%.However, their operating margin falls from 5.57% to 4.50%. Suppose that they have no other income, interest expenses are unchanged, and taxes are the s..
Your firm wants to diversify with a new product line. The project requires an initial investment of $8,000,000 and will provide $1,890,000 in unlevered after-tax cash flows at the end of each year for 10 years.
Present the income division section of the income statement for the current year. Assuming that the net income had been $50,000 instead of $100,000, present the income division section of the income statement for the current year.
Each year the supervisor prepares an operating budget for the motor pool. The budget informs university management of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the costs p..
Consider the recording of journal entries related to common, preferred, and treasury stock. How does the record-keeping of these entries relate to business?
1. Why is not taxable income used to determine if a distribution is a dividend? 2. What is the Dividend Received Deduction? Why do we have it?
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