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Question - MMM Ltd provided the following information for the accounting period ended July 31, 2021:
Sales - $180,000
Gross profit - $20,000
Creditors - $50,000
Opening inventory - $30,000
Closing inventory - $10,000
Required - Calculate the stock turnover period assuming 360 days per year.
Rodney owns 4 businesses and wants you to help with his tax return. Based on the following information, explain how you would add these activities to his 1040 form and list the forms needed along with what would be included on each form. Wha..
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Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. Journalize the transactions for Elburn Supply Co
Gina's account balance is $5,000, $3,000 of which is her contributions. What is Gina's taxable income (after any exclusion) from the distribution
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Consider the following information provided by Smith & Jones for the three months ending 30 September: Find the budget gross profit for the September quarter
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