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On December 8, 2010, Lynch Incorporated sold $9,000 of merchandise with terms 2/10, n/EOM. On December 18, 2010, collections were made on sales originally billed for $5,000, and on December 31, 2010, additional collections on sales originally billed for $3,000 were received.Required:
Prepare the journal entries to record the sale, collections, and any required year end adjustments under
(1) The gross price method, (2) The net price method.
lawson companys accounting system listed the following information for the companys 2007 fiscal year inmillionsaverage
The committee chairman has laid the groundwork for approving requests that managers of various organizational units have submitted by reminding the group that their charge is to approve the investment opportunities that will best meet the company'..
1. haywood company sells a single product with a contribution margin of 5 per unit fixed costs of 74400 and sales for
Discuss the limitations of consolidated financial statements and why dual reporting (consolidated and separate entity statements) as well as other forms of disaggregated reporting, such as SFAS No. 131, make sense.
Which type of accounting change should always be accounted for in current and future periods?
on january 1 2014 crystal corporation issued a 100000 10-year bonds at 11. interest is paid annually on december 31.
Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..
On January 1, 2010, the Amity Company leases a crane to Baltimore Company. The lease contains the following terms and provisions: The lease is noncancelable and has a term of 10 years. The lease does not contain a renewal or bargain purchase option. ..
if department h had 538 units 53 completed in process at the beginning of the period 5588 units were completed during
the company purchases supplies from a single supplier on terms of 110 net 20 days and it currently takes the discount.
in determining the dollar amount to use for operating assets in the return on investment roi calculation companies will
abc company has office furniture that cost 40000 an estimated life of 10 years and a 4000 salvage value. as of january
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