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Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1) Purchased $12,000 of merchandise on account under terms 3/10, n/30. 2) Returned $1,200 (list price) of merchandise to the supplier before payment was made. 3) Paid the account payable within the discount period. 4) Sold the merchandise for $15,600 cash. The amount of gross margin from the four transactions is
$5,160.
$3,276.
$5,124.
$3,600.
Jay Patel is planning to open a pizza restraunt ne... Jay Patel is planning to open a pizza restraunt next month in Flora, Alabama. He plans to sell his large pizzas for a base price of $18 plus $2 for each topping selected. When asked how he arrived..
In 2014, X Company's revenue was $246,600, its total variable costs were $99,000, and its fixed costs were $87,000. Assume that the revenue and variable cost relationships continue in 2015, but fixed costs decrease by 15%. If the tax rate is 30%, wha..
The current ratio for a company with current assets of $70,000, quick assets of $30,000, net assets of $150,000 current liabilities of $50,000 and net sales of $80,000 would be:
Is this ethical? Jim is uncertain about the appropriateness of this from a legal and ethical perspective. Give your opinion and explain the ethical implications of making the purchase.
question ac consulting company has purchased a new 15000 copier. this overhead cost may be shared by the purchasing
Evaluate the above goals and why you should choose one of them for effective operation of the organization
The following six situations are independent. A manual insertion process takes 30 minutes and 8 pounds of material to produce a product. Estimate the nonvalue-added cost for each situation.
On March 1 of the current year, Lohan Company purchased and placed in service a machine with a cost of $240,000. The company estimated the machine's useful life to be four years or 60,000 total units of output with an estimated salvage value of $65,0..
Indicate the amount of income or loss from the partnership that should be reported by Wilson in 2011 on his Individual Income Tax Return. Compute Wilson's basis in his partnership interest at the end of 2011.
Dancer Corp has a selling price of $25 per unit, and variable costs of $17 per unit. When 15,000 units are sold, profits equaled $73,600. How many units must be sold to break-even?
In both Japan and United States, a small number of accounting firms audit a great mjority of large public companies. identify advantages of this " market structre" for indendent auditors services.
Based on the discounted payback method tractor A's recovery period (indicate the fraction of a year to one decimal where required - Based on the discounted payback method, tractor C's recovery period
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