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Merchandise with a list price of $3,800 and costing $2000 is sold on account, subject to the following terms: FOB shipping point, 2/10,n/. The seller prepays the $50 shipping charges and bills the customer, (seller pays Cash). Prior to payment for the goods, the seller issues a credit memo for $800 to the customer for merchandise costing $500 that is returned. The correct amount is received within the discount period. Record the foregoing transactions of the seller in the sequence indicated below.
1. Sold the merchandise, recognizing the sale and cost of merchandise sold.
2. Paid the transportation charges.
3. Issued the credit memorandum.
4. Received payment from the customer.
A company is considering the purchase of a new piece of equipment for $90,000. Predicted annual cash inflows from this investment are $36,000 (year 1), $30,000 (year 2), $18,000 (year 3), $12,000 (year 4) and $6,000 (year 5). The payback period is..
the predetermined overhead rate for weed-b-gone is 10 comprised of a variable overhead rate of 6 and a fixed rate of
From the case study, examine the significant differences between the Harley-Davidson 2008 securitization and the 2009 securitization and the manner in which these differences are indicators of the financial health of the company. Examine the impac..
Aborkian Co. is forecasting sales of 75,000 units of product for November. To make one unit of finished product, seven pounds of raw materials are required. Actual beginning and desired ending inventories of raw materials and finished goods are:
Fred Co. incurred costs of $700,000 for direct materials
a company produces a single product. last year the company had a net operating income of 89000 using absorption costing
Calculate the present value for this annuity if interest is compounded semi-annually.
To predict revenues for 2012, The Best uses the average for the past five years. The company's breakeven revenue is $800,000 per year. What is The Best's predicted margin of safety for 2012?
Are there any differences between the organizations that adopt a particular accounting method? What are the strengths and weaknesses of the various types of accounting?
the chief cost accountant for sassy beverage co. estimated that total factory overhead cost for the blending department
You realize that your accounting services are why Eric's Elmhurst Motorcycle has both stayed afloat and even prospered through the years.
dvds manufactures and sells dvd players in two countries. it manufactures two modelsu2014basic and customu2014in the
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