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Your company has signed a contract with a good customer to ship the customer an order no later than 20 days from now. The contract indicates that the customer will accept the order even if it is late, but instead of paying the full price of $10,000, it will be allowed to pay 10% less, $9000, due to lateness. You estimate that it will take anywhere from 17 to 22 days to ship the order, and each of these is equally likely. You believe you are in good shape, reasoning that the expected days to ship is the average of 17 through 22, or 19.5 days. Because this is less than 20, you will get your full $10,000. What is wrong with your reasoning?
An important part of GAAP for marketable securities is the distinction between investments categorized as trading, available for sale, or held to maturity.
thefollowing is a note accompanying a financial statement ofinternational paper companyplant properties and
on july 1 chesapeake corporation purchases 550000 shares of its 6 par value common stock for the treasury at a cash
The authorized stock of a corporation
describe two business sectors you might want to work in if you were an accountant and explain why in 150 to 200 words.
Analyze each transaction by identifying the account or accounts to be debited and credited and prepare a journal entry for each in the proper format.
Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.
Len Mast earned $3,900 for the last two weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's income tax? Use the percentage method.
frontier sports sells hunting and fishing equipment and provides guided hunting and fishing trips. frontier sports is
EBay Incorporation is one of the leading and extremely close to be the top best place for buyers and sellers to meet and be able to exchange practically anything. eBay Inc. provides online trading services by developing eBay Marketplace, an Intern..
If the effective interest method is used, by how much should the bond discount be reduced for the 6 months ended December 31, 2009?
How are IT systems potentially useful in monitoring funds flow?
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