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Alamo Company has sales, cost of goods sold, and average ending inventory for the current year in the following amounts: $650,000, $500,000, and $128,000, respectively.
1.Calculate the amount of the company's inventory turnover for the year. (Round your answer to 2 decimal places.)
What is the inventory turnover?
2.What is the company's average number of days to sell inventory?
What is the average number of days?
Calculate the amount of the asset and liability of Lotus Company at the inception of the lease. (Round to the nearest dollar.) Prepare a table summarizing the lease payments and interest expense.
Managers of Wheldon Manufacturing are analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $80,000 in variable overhead but actual variable overhead was $95,000.
If Kelly deposits $10,000 into an account that pays 8 percent interest, compounded annually, and she makes no further deposits or withdrawals, how much will Kelly have in her account at the end of 5 years?
1. why should the responsibility for related transactions be divided among different departments or individuals?2. what
During the current month, a company that uses a job order cost accounting system incurred a monthly factory payroll of $120,000 paid in cash. Of this amount, $30,000 is classified as indirect labor and the remainder as direct. Prepare entries to r..
Andrea's Hobbies produces and sells a luxury animal pillow for $40.00 per unit. In the first month of operation, 3,000 units were produced and 2,250 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other infor..
Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the ..
Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, su..
Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is ?
what are the fundamental differences between a defined contribution pension plan and a defined benefit pension plan? in
A residual value of $2,000. Determine the cost and depreciable cost of the tractor and calculate the first year's depreciation under the straight-line method.
1 at january 1 2004 barry inc. has beginning inventory of 4000 widgets. barry estimates it will sell 35000 units during
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