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Q. Explain about delivery expense?
When shipping goods FOB destination freight prepaid the seller is accountable for and pays the freight bill. For the reason that the seller cannot bill a separate freight cost to the buyer the buyer shows no entry for freight on its books. The seller though has undoubtedly considered the freight cost in setting selling prices. The following entry is necessary on the seller's books
While the terms are FOB destination the seller records the freight costs as delivery expense this selling expense appears on the income statement with other selling expenses.
Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
Provide an argument for including or not including current liabilities in the cost of capital calculation
Q. Describe about chain discount? Occasionally the list price of a product is subject to several trade discounts this series of discounts is a chain discount. Chain discounts s
Q. Learning objectives of inventory turnover ratio? - Net income for an accounting period depends straight on the valuation of ending inventory. - If the ending inventory is
Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
Liquidity refers to a company's cash position, availability of resources to meet short-term cash requirements, and overall ability to obtain cash in the normal course of business.
SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the org
Astra Company sells financial calculators and offers instruction on their use. During its first year it expects to sell 3000 calculators at $30 each and offer 5000 hours of instruc
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