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Problem 1: A is using periodic inventory system. For the year, its total purchases amounted to P250,000. Its unsold merchandise at the end of the year has a cost of P5,000 which is 80% of its beginning inventory. A's cost of sales is:
Problem 2: B's purchases per purchase invoice is P150,000. The purchase discount is 2/10; n/30. Freight is P500, FOB shipping point, freight collect. The net purchase amounts under net method is
Question - Explain how corridor amortization works. How does it affect recognition of annual gains and losses
Describe the new learning program that is being introduced and for which this marketing plan is being developed. description of the organization.
Sheila, age 70, is single and an officer of Vista corporation. What is Sheila's adjusted gross income for the current year?
Calculate net present value of each of the options and determine which option Lucky Seven should select using the NPV criterion
The inventory on that date using the dollar-value LIFO inventory method was $900,000. Compute the inventory at December
Hilton and Winona B. Taxpayer will file a joint federal income tax return. Hilton, age 55, is a hotel manager. Winona, who is 54, is a vice president of a small accessory supplier. The couple comes to you in early December seeking tax advice.
If her basis in the property is $90,000 and she receives only the $30,000 down payment in the year of sale, how much is Pat's taxable gain in the year of sale
Lyon Company shows the following condensed income statement information for the year ended December 31, 2013:
Compare and contrast job order, process, and activity-based costing. Be sure to provide situations in which each type of costing may be more useful than others.
you are considering opening a shop in a nearby mall that willsell specilaty t-shirts. t-shirts containing designs and
Estimate the ending inventory and cost of goods sold for 2011, applying the conventional retail method (average, LCM).
Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, Calculate the dividends per share on each class
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