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Seeman Furniture uses the installment-sales method. No further collections could be made on an account with a balance of $18,000. It was estimated that the repossessed furniture could be sold as is for $5,400, or for $6,300 if $300 were spent reconditioning it. The gross profit rate on the original sale was 40%. The loss on repossession was?
on december 1 2013 davenport company sold merchandise to a customer for 20000. in payment for the merchandise the
In the first year of the partnership, its cash-basis incom was $100,000, $50,000 of which was the collection of the transferred receivables. When is the income of the partnership reported and by whon?
cansela corporation uses a periodic inventory system and the lifo method to value its inventory. the company began 2011
product r19n has been considered a drag on profits at buzzeo corporation for some time and management is considering
On September 1, 2008, Melissa paid $50,000 for 500 shares of WH Inc. common stock. On October 15, 2010, Melissa received a taxable 10% convertible preferred stock dividend (i.e., 50 shares).
Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock?
Prepare the journal entry to record their issuance.
Cayemberg Company maintains a checking account at the Commerce Bank. At July 31, selected data from the ledger balance and the bank statement are show below.
partner a has an investment account and for 2012 he has a realized and recognized capital gain of 40000. partner b does
borderline cafeterias has discovered that most of its wait staff is white while most of its kitchen staff is minority.
There were 1,100 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weight..
1.explain why the communication skills and techniquesused within a business unit department are not alwayseffective in
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