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Question - Family Home & Security Incorporated sells padlocks. It reported an increase in net sales from $4.2 billion in 2017 to $4.5 billion in 2018, and an increase in gross profit from $1.2 billion in 2017 to $1.4 billion in 2018.
Required -
1. Calculate each year's gross profit percentage.
2. The change in gross profit represents.
Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased
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the outstanding receivables. The amount of the adjusting entry to record uncollectible accounts expense is
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On January 1, 2004, Bigler Corporation had 800,000 shares of common stock outstanding. On March 1, the corporation issued 120,000 new shares to raise additional capital.
David receives $520 in interest ($260 every six months) from the Treasury bonds during the current year, How much interest income will he report this year
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Frigart Company sold goods for $13,000 with terms 2/10, n/30. How much would Frigart receive if the account were paid within the discount period
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