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Question - Sunland Company had sales of $2,450,000, cost of goods sold of $1,181,500, and profit of $508,000 in 2021. The company had a January 1, 2021, inventory balance of $133,000 and a December 31, 2021, inventory balance of $145,000. Calculate the inventory turnover and days sales in inventory ratios for 2021.
Assuming management does not elect the fair value option, prepare the adjusting entry for December 31, 2014
Tom Ltd acquired 75% of the shares in Jerry Ltd for $190,000 on 1 July 2014. Prepare consolidation journal entries as at 1 July 2014
What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Ivanhoe will recognize for the year ended December 31, 2020
frisch fish corp expects net income next year to be 750000. inventory and accounts receivable will have to be increased
Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places
Overhead incurred for 45,600 actual direct labor hours worked $368,320. Compute the total overhead variance
Investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past.
Discuss how the financial over the past few year? Can the Levi company adapt to the current world environment and recreate the fashion statement of the product?
In 2009, the auto industry was being devastated by the economic downturn. Prepare a common-sized income statement and common-sized balance sheet
Discuss the four eligibility requirements for revenue recognition in non-exchange transactions,Discuss between exchange and non-exchange transactions
Heritage Co. received $10,000 cash. Assume the exchange has commercial substance. What should Heritage Co. record as the cost of the new asset
Department A started work on 76,000 units in July and completed 61,000 units during July. Calculate the cost to complete the units in beginning work in process
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