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During a three month period a business made sales of $69200 plus vat at 17.5% the balance on the debtors account at the start ofthe period was $5329 and at the end of the period $4711.
How much cash was recieved from debtors during the period?
Shareholders in closely held C-corporations often pay themselves large salaries in order to avoid double taxation on corporate income.
A finance company advertise that it will pay kump sum of rs 10000 at the end of 6 years to investor who deposit annually Rs1000. what interest rate is implicit in this offer?
Which of the following transactions will not result in termination of a partnership for federal tax purposes? a) The partnership is incorporated. b) A 70% interest in partnership capital and profits is sold to a third party purchaser.
Knox Corp. plans to sell 1,000 units in 2011 at an average sale price of $40 each. Cost of goods sold will be 40% of the sale price. Depreciation expense will be $2,500, interest expense $1,500, and other expenses will be $3,000. Wessel's tax rate..
On a statement of cash flows that uses the indirect approach, calculation of cash flow from operations treats depreciation as an adjustment to reported net income because:
DeCort Company had these adjusting entry situations at the end of December:May 1-paid $960 for a two -year insurance policy. The policy was for the period May 1-April 30(for 2yrs). This is the first year of the policy-Transaction was recorded as i..
Which is generally considered to be the primary purpose of an internal auditor's evaluation of the adequacy of internal controls.
On January 1, 2013, Winn Heat Transfer leased office space under the 3 year operating lease agreement. The arrangement specified 3 annual rent payments of $80,000 each, starting January 1, 2013, the inception of lease
The following information is available for the first month of operations of Korv Inc., a manufacturer of art and craft items:
How do you know if the company you are investing in has ethical executives? And how do you know that those executives will continue to act in an ethical manner when "times get tough"?
Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the total cost of the departmental work in process inventory at the end of the pe..
Juan's Taco Corporation has restauraunts in five college towns. Juan wants to expand into Austin and College Station and needs a bank loan to do this. Mr. Bryan, the banker,.
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