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The following transactions took place during the month of March: March 1-Beginnng Inventory 20 units at $5=100
March 10-Purchase 15 units at $7=105
March 17-Purchase 12 units at $8=96
March 27-Purchase 18 units at $10=180 65 units
A physical inventory count on March 31 revealed 22 units were left on hand. Calculate ending inventory, COMS, and Gross Profit based on FIFO, LIFO, and Average Cost. Each unit sold for $15.
Compute the following profitability ratios for 2009 and 2008. Operating cash flow/current maturities of long-term debt and current notes payable.
Maria, the manager of Department T, was convinced that tennis rackets were really more profitable than baseball bats. She asked her colleague in accounting to break down the overhead cost for the two departments. She discovered that had department ra..
problem on august 31 2010 a company purchased 10000 shares of stock for 30 per share. management recorded the stock in
Discuss the accounting for voluntary health and welfare organizations. What are the objectives of accounting for these organizations? Provide several examples of voluntary health and welfare organizations
Wave Wake Marine Company has total estimated factory overhead for the year of $1,200,000, divided into four activities: fabrication, $450,000; assembly, $210,000; setup, $240,000; and inspection, $300,000. Wave Wake manufactures two types of boats:
Purpose a schedule comparing depreciation for financial reporting and tax purposes. Evaluate the deferred tax asset or liability at the end of 2012.
Plans to its employees. Under its executive stock option plan, the company granted options on January 1, 2013, that permit executives to acquire 4 million of the company’s $1 par common shares within the next five years, but not before December 31, 2..
If a new accounting standard impact on profits, should this impact on the value of the firm, and if so, why and will the imposition of a particular accounting method have implication for the efficiency of the organization?
goodwill is reported on a consolidated balance sheet only if it was acquired in the merger or acquisition.nbspnbsp
Benson Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: Calculate the amount of the April 30: Outstanding checks
It is financed with $200 million of debt, $50 million of preferred stock, and $210 million of book equity. What is the value of operations? What is the total corporate value?
After paying the movie distributors and meeting all other non-interest expenses, the owner expects to net $2.00 per ticket sold. Construction costs are $1,000,000 per screen.
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