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The adjusted trial balance of Zambrana Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2010: Sales $800,000, Freight-out $16,000, Sales Returns and Allowances $25,000, and Sales Discounts $15,000.
Instructions
(a) Prepare the sales revenues section of the income statement.(b) Prepare separate closing entries for (1) Sales, and (2) The contra accounts to sales.
Describe the major weakness of the performance report and describe clearly why all the variances for the variable expenses are unfavorable (U).
black company paid wages of 360,000 of which 80000 was qualified wages for the work opportunity tax credit under general rules. what is the deduction for wages for the year?
1. chapters 15 stockholders equityreview your sec 10-k report and analyze the balance sheet statement of owners equity
Total payroll of Walnut Co. was $1840,00 of which $320,000 represented amounts paid in excess of $106,800 to certain employees. The amount paid to employees in excess of $7000 was $1,440,00
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On its income statement for a recent year, continental Airlines, Inc. reported a net loss of $68 million from operations. On its statement of cash flows, it reported $457 million of cash flows from operating activities.
Write one page single space, comparing these two methods: key differences, and recommends which method should be used for this company and why.
Finding the equivalent units for materials and conversion - Find How many units were started and completed during May?
During the year, he made only a nominal amount of disbursements of the type that qualify as itemized deductions of $3,290. What is his standard deduction for 2010?
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