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1. On October 10, Tridant Inc. purchased 5,000desks at an invoice price of $300 each and paid for them on October20, earning a 3% cash discount. Tridant sold all of the desks at$600 each. The customer earned a 1% cash discount.
a. What amount should Tridant report as net sales?
b. What amount should Tridant report as cost of goods sold?
During the first year of partnership operations, JK had net taxable income of $50,000. The partnership distributed $20,000 cash to Julie. Julie's adjusted basis (outside basis) for her partnership interest at year-end is:
1. on april 2 lana executed a contract to sell her office building to swanky realty inc. for 1000000. the transaction
On numerous occasions, proposals have surfaced to put the federal government on the accrual basis of accounting. This is no small issue. If this basis were used, it would mean that billions in unrecorded liabilities would have to be booked, and th..
Samantha owned 1,000 shares in Evita, Inc., an S corporation that uses the calendar year. On October 11, 2010 Samantha sells all of her Evita stock. Her basis at the beginning of 2010 was $60,000. Her share of the corporate income for 2010 was $22..
question 1.nbsp an audit client is being sued for 500000 for discriminatory hiring practices.required indicate the
the operating cycle two wheeler cycle shop buys all of its bikes from one manufacturer baxter bikes. on average bikes
Required: Given rectifying entries and prepares a suspense account.
John has been offered a job in New York City at a salary of $50,000 per year. Currently, John lives and works in the Midwest at a salary of $35,000 per year.
For Savage Inc. variable manufacturing overhead costs are expected to be $20,000 in the first quarter of 2005 with $2,000 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $35,000 in each quarter. Prepare..
If a fixed asset, such as a computer, were purchased on January 1st for $1,950 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is:
Compute the value added, nonvalue added, and the total lead time of the wreath process for both the old and the new manufacturing process.
Assume that the company computes variances at the earliest point in time. Taylor's direct-material price variance was:
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