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1. During December, Rainey Equipment made a $600,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.5%. Prepare the appropriate journal entry.
the lucy corporation purchased and used 129000 board feet of lumber in production at a total cost of 1548000. original
Describe the procedure for setting a bid price and explain the manager's objective in setting this bid price. How it is those two different firms often arrive at different values for the bid price?
a company is considering the purchase of a new machine for 72000. management predicts that the machine can produce
shenefelt medical center wants to dispose of its cat scan machine. the original cost of the machine was 445000 and
cosby uses a weghted-average process-costing system. all materials are added at the beginning of the process conversion
There are four types of special journals generally used by businesses: the sales journal, cash receipts journal, purchases journal, and cash payments journal.
scheer corporation is involved in the business of injection molding of plastics. it is considering the purchase of a
Create the Journal for the transactions and Post these to the T-accounts, create the Unadjusted trial balance and make the necessary Adjusted journal entries
Several times during 2010, Palmer Company issued short term commercial paper totaling $7 million.
klaus toys just paid its annual dividend of 1.40. the required return is 16 percent and the dividend growth rate is 2
A city General Fund received cash from the following sources during fiscal year 2012. All the receipts were credited to revenue accounts. Identify the incorrect credits (some may be correct) and make journal entries to correct them.
felton company has a factory machine with a book value of 90000 and a remaining useful life of 4 years. a new machine
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