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Question :
Jerry Hasbrow, a sales representative for Penn Office Supplies Company, is compensated on a commission basis and gets a substantial bonus if he meets his annual sales goal. The company's recognition point for sales is the day of shipment. On 31st December, Hasbrow realizes he needs sales of $2,000 to reach his sales goal and receive the bonus. He calls a purchaser for a local insurance company, whom he knows well, and asks him to purchase $2,000 worth of copier paper today. The purchaser says, "But Jerry, that's more than a year's supply for us." Hasbrow says, "Buy it today. If you decide it's too much, you will return however much you want for full credit next month." The purchaser says, "Okay, ship it." The paper is shipped on 31st December and recorded as a sale. On January 15, the purchaser returns $1,750 worth of paper for full credit against the bill.
Should the shipment on 31st December be recorded as a sale? Show the ethics of Hasbrow's
Truestar Communication issued $90,000 of 9%, 10-year bonds payable on August 1, 2012, at par value. Truestar's accounting year ends on December 31.Requirements
Determine what amount should Funzy report as a promotional expense on its December 31, 2011, income statement?
Why would the manager do this and what is the harm to the company and what should Ace do, and why?
What is the annual breakeven point in units sold and revenues - Break-even point in units = Fixed cost/(Selling price per unit
Calculate the number ofunits required tobreak even. The finance manager has devised a number ofalternative plans to get the entity back into profitability
the tax rate is 40 percent and the firm uses straighline depreciation. Any gain or loss on the machine is subject to tax at 40 %.
How many pounds of material does Midwest Inc. plan to purchase in July and what is the budgeted August 31 finished goods inventory balance (in dollars)?
question a. on june 30 2011 barbie company was considering options to bolster its cash position. choice one called for
investment strategy is to purchase the stock of the company that has a low price/earnings ratio but appears to be in good shape financially. Assume that you analyzed all other factors and your decision depends in the results of the ratio analysis ..
Compute the amount Verna's pension expense for 2013 and prepare the related journal entries.
company took loans of rs 400000 from mbl and issued 8 debentures of rs 500000 b as collateral security pass journal
Your program has an RDT&E-funded project scheduled to start in July 2005 which is expected to take 12 months to complete. The project is expected to cost a total of $12 million - appropriate budget requests for this project?
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