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Ringo Company had $900,000 of sales in each of three consecutive years 2010 - 2012, and it purchased merchandise costing $500,000 in each of those years. It also maintained a $200,000 physical inventory from the beginning to the end of that three-year period. In accounting for inventory, it made an error at the end of year 2010 that caused its year-end 2010 inventory to appear on its statements as $180,000 rather than the correct $200,000. Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2010?2012.
Thirty flasks, 10 full, 10 half empty and 10 entirely empty, are to be divided among 3 sons so that flasks and content should be shared equally.
Compute the companys contribution margin assuming the company uses the contribution margin format income statement.
disclosure notes related to a change in accounting principle under the retroactive approach should include1the effect
you are evaluating two different silicon wafer milling machines. the techron i costs 290000 has a 3 year life and has
the december 31 2009 balance sheet of schism inc. showed long-term debt of 1.415 million 143000 in the common stock
describe the difference and similarities between current and long term liabilities. provide examples of
firm m and n compete for a market and decide independently how much to advertise. each can spend either 10 million or
Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the dir..
canned fruits and vegetables are the main products made by good foods. inc. all direct materials are added at the
what is the asked price on the t-note that has a coupon rate 4.375 10 year to maturity and asked yield
At 12/31/12, the end of Jenner Company's first year of business, inventory was $4,100 and $2,800 at cost and market, respectively. Following is data relative to the 12/31/13 inventory of Jenner.
slugger products manufactures a single product with the following full unit costs at a volume of 2000 units direct
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