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A company had net sales of $540,000, total sales of $690,000, and an average accounts receivable of $83,000. Its accounts receivable turnover equals:
a 0.78
b 6.51
c 0.12
d 0.15
e 8.31
Which of the following is accounted for as a change in accounting principle?
the allowance for doubtful accounts was a debit of $100,000. If 2% of the accounts receivable are expected to be uncollectible, what is credit balance in the allowance account after the year-end adjustment
An employee earns $5,800 per month working for an employer. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%.
What is the expected NPV of stage 2, assuming there is an 80% probability that demand will be high during stage 2, but a 20% chance that demand will be low?
Describe how the following business transactions affect the three elements of the accounting equation.
Mighty Company purchased a 60 percent interest in Lowly Company on January 1, 2013, for $420,000 in cash. Lowly's book value at that date was reported as $600,000 and the fair value of the noncontrolling interest was assessed at $280,000. What worksh..
You may also write the journal entries to record each transaction/adjustment. Interest on bonds payable has not been accrued for the current month. The company has outstanding $240,000 of 8.5% bonds.
Reporting and Computing the Acquisition and Amortization of three Different Intangible Assets - Evaluate the acquisition cost of each intangible asset
Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,800 of this balance is direct labor cost, how much of it are direct materials cost? Manufacturing..
Consolidations must be performed based on the level of control; many companies, however, use different methods for their internal record keeping. In general, what do these entry notations mean? Provide at least one example of a journal entry for one ..
Prepare the necessary journal entries for the payroll paid on Friday, December 27, 2011.
Some nonfinancial factors included in capital investment decisions are more important now than they were 20-25 years ago. Give some examples of the types of nonfinancial factors that managers would consider more important in today's capital investmen..
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