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1. A had 500 units in its inventory at a cost of $5 each. if purchased, for $2400, 300 more units. A then sold 600 units at a selling price of $10 each, resulting in gross profit of $2,100. What cost flow assumption was used?
2. End of the year physical inventory determined that $760,000 of goods were on hand. The following items were not in physical count: $96,000 of the goods were in transit shipped FOB destination ( recieved 3 days after inventory count). The company then sold $40,000 worth of inventory FOB destination. What is the inventory at the end of the year?
Melanie Mielke Construction Corporation is considering the appropriate accounting for two unrelated events during the year. The first event related to the effects of a labor strike that resulted in a work stoppage on a major construction project. Pre..
multiple choice questions based basic accounts.1.nbspin order to increase its operating profit margin a company could
question janson pharmaceuticals incurred the subsequent costs in 2013 related to a new cancer drugresearch for new
A company’s factory overhead T-account shows total debts of $624,000 and total credits of $646,000 at the end of a period. Prepare the journal entry to close the balance in the factory overhead account to cost of goods sold.
What is the payback period for the set of cash flows given above?
dividend decisionsacme sports has 100000 of 8 noncumulative nonparticipating preferred stock outstanding. acme sports
Create a cash budget for the months of July through September 2012. Show required schedules for the calculation of receivables and payables.
Determine how Jack Ltd should account for the results of the impairment test at 30 June 2015 and 30 June 2016, and prepare any necessary journal entries. Show all workings and provide references to the relevant accounting standard to support your ..
Prepare the journal entry to record the sale of any job(s) during the month and what is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of?
Why are the standard amounts in part (1) based on the actual production for the year instead of the planned production for the year?
on date of the cash distribution janes basis in her efg inc. stock was 10000 and joes basis in his efg inc. stock was
Determine the predetermined operating room overhead rate for the year. - How much operating room overhead would be charged to her procedure, using the rate determined in part (a)?
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