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Question 1: A company that uses the perpetual inventory system sold goods for $2,800 to a customer on account. The company had purchased the inventory for $900. Which of the following journal entries correctly records the cost of goods sold?
a. Cost of Goods Sold. 900Sales Revenue. 900
b. Cost of Goods Sold. 900 Merchandise Inventory. 900
c. Merchandise Inventory. 900Cost of Goods Sold. 900
d. Accounts Receivable. 900Sales Revenue 900
The bonds were priced to yield 4%. CAL applies the effective interest rate method and has an October 31 year-end. What entry would you record on issuance
A call option on Euro has a strike price of $1.07/€ and a cost of $0.02. What is the break-even price for the option? $1.05/€./ $1.09/€
A manufacturing company leases a building for $110,000 per year. How many units must be sold each year for the company to earn a profit of $63,000 per year?
The company paid $30,000 rent, $110,000 as salary for the year. They paid $40,000 in utilities. What is the accrual net income amount
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Demand is estimated to be 106,000 units annually. What is the price if a markup of 40% on total cost is used to determine the price?
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Suppose your company sells services of $150 in exchange for $120 cash and $30 on account. Depreciation of $50 also is recorded. Prepare the journal entries to record these transactions. Calculate the amount that should be reported as net cash flow fr..
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Each tranche has the same exercise price- the market price of the stock on the grant date, or $ 23 on January 1, 2010. Explain why the option fair value increases with the vesting date.
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