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The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:
• Sales were at $450,000, all for cash.• Merchandise inventory on October 31 was $200,000.• The cash balance on November 1 was $18,000.• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.• Budgeted depreciation for November is $25,000.• The planned merchandise inventory on November 30 is $230,000.• The cost of goods sold is 70% of the selling price.• All purchases are paid for in cash.
using 2419000 as the total manufacturing costs compute the cost of goods manufactured using the following
your friend tom is the beneficiary of a life insurance policy where he can choose one of three options1. 120000 in cash
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Set up T accounts for cash, accounts receivable, supplies,merchandise inventory, prepaid expense, , equipment, furniture andfixture, accounts payable, notes payable, contributed capital, sales revenue, cost of good sold (expense), advertising expe..
abc co recently spent 1200000 to acquire a piece of equipment. the accounting staff is unsure how to properly classify
Cost is $17,000 and Fair Value is $16,000; Security B; Cost is $22,000 and Fair Value is $26,000; Security C; Cost is $34,000 and Fair Value is $29,000.Instructions: prepare the adjusting entry for Otto Corporation on December 31, 2009 to report t..
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
Smith Company's break-even point is 12,200 units. Each unit generates variable costs of $2.20 and is sold for $4.90. What are the total fixed costs?
Updike and Patterson Investmens inc (UPI) holds equity investments with a cost basis of $250,000. UPI accounts for these investments as available-for-sale securities.
umanzor corporation uses activity-based costing to assign overhead costs to products. overhead costs have already been
In 2008, the company sold 675,000 boxes of Frosted Flakes and customers redeemed 330,000 box tops receiving 110,000 bowls. If the bowls cost Milner Company $2.50 each, how much liability for outstanding premiums should be recorded at the end of 20..
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