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The Longs Fertilizer Company has about 500 customers that buy fertilizer on account. If the customers' accounts were kept in the general ledger, how many additional items would appear in the trial balance?
Assume a sales volume of 6,000 units, unit selling price of $20, unit variable cost of $12, and total fixed costs of $20,000. What is the margin of safety in sales dollars?
Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below. PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $1,810 $1,100 Receivables 1,758 1,306 Inventory 1,583 1,901 Plant ass..
A company has a market value per share of $ 72.60. Its net income is $ 5,720,000 and the weighted-average number of shares outstanding is 520,000. The company's price-earnings ratio is equal to
There were 4400 units in the ending work in process inventory of the assembly dept. that were 30% complete with respect to conversion costs. Illustrate what were the equivalent units for conversion costs in the assembly dept. for the month?
List and discuss several factors that would have contributed to an increased inherent risk assessment at the financial report level.
At the beginning of the year, Global Minds Inc. issued $100 million (maturity value) of 20-year debentures.Calculate the proceeds received by Global Minds when the bonds were sold.
Presented below is information related to Taylor Co. for the month of January 2014. Prepare the necessary adjusting entry for inventory
In 2004 Mr. EF, a single taxpayer, contributed $45,000 in exchange for 500 shares of DB stock. In 2007, he paid $40,000 to another shareholder to purchase 1,000 more DB shares. All DB's stock qualified as section 1244 stock when it was issued.
How would your answer modify if Engco sold its goods with title passing at the customer's location?
The management of the Auto Parts Division of the Santana Corporation receives a bonus if the division's income achieves a specific target. For 2013 the target will be achieved by a wide margin. Identify the ethical issue and the stakeholders. Stakeho..
Here are data on two stocks, both of which have discount rates of 15 percent: What are the dividend payout ratios for each firm? What are the expected dividend growth rates for each firm? What is the proper stock price for each firm?
On 6/30/12, a company paid $96,000 to retire a bond before maturity. The company recorded a $6,000 gain as part of the transaction. Which of the following must be true regarding this transaction?
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