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Accounts receivable of $14,800 (gross) are factored with Andrew Jackson Credit Corp. without recourse at a financing charge of 9%. Cash is received for the proceeds; collections are handled by the finance company. (These accounts were all past the discount period.) I know I have to D Cash D Loss on Receiveable Cr Accounts Receiveable Cr another account
Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and make the entry to record sales taxes payable an..
It is now December 31, 2011, and Fortune has provided legal services as planned. What adjusting entry should Fortune make to account for the work performed from October 1 through December 31, 2011?
What section of the annual report can you find explanation for increase/decrease in sales and earnings?
The primary revenue source for not-for-profit organizations is contributions. Please define what a contribution is, and discuss how the different types of contributions are recognized as revenue (i.e. cash contributions, unconditional promise to g..
Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.
Explain why the gains from trade with imperfect competition may be larger than they are with perfect competition. Does it therefore follow that, if a country is going to trade in any case, it would be better off if its industries are imperfectly c..
common stock-25 par value 100000 shares authorized 50000 shares issued and outstanding 1250000paid-in capital in excess
Allocation and proration of overhead. Tamden, Inc., prints custom marketing materials. The business was started January 1, 2010. The company uses a normal-costing system. It has two direct cost pools, materials and labor and one indirect cost pool..
Swanson Corporation issued $8 million of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2029. Swanson's fiscal year ends on Decemb..
the door company manufactures doors. classify each of the following quality costs as prevention costs appraisal costs
Using a present value table, calculator, or a computer program present value function, calculate the present value for the following: (Use appropriate factor(s) from the tables provided.)
What is a VAT? Give an example of VAT in other nations. What is the difference between centralized and decentralized government? What are the advantages of a federal system of government?
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