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1. Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Wood Incorporated and Engram Factors to record the factoring of the accounts receivable to Engram.
1. if improvement in a performance measure on a balanced scorecard should lead to improvement in another performance
peoria corp. just complete another successful year as indicated by the following income statement. prepare a statement
shares in raven products are selling for 96 per share. there are 1 million shares outstanding. what will be the share
coleman inc. anticipates sales of 50000 units 48000 units and 51000 units in july august and september respectively.
the following inf big bend co. fixed budget for the year is shown belowsales 50000 units 1300000 cgs direct materials
Prepare Newton Enterprises' journal entry.
Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.
Describe two transactions, the accounts that are affected and the affect on the respective financial statements.
on january 1 2012 graham company purchased a new machine for 2800000. the new machine has an estimated useful life of
munafo corporation is a specialty component manufacturer with idle capacity. management would like to use its extra
What was the amount of net sales for 2011?
9-30. in performing a test of controls for sales order approvals the cpas stipulate a tolerable deviation rate of 8
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