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Question - Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows:
Jan. 1 Beginning i..s @ $7.00 = $770
Jan. 10 Sold 80 units @ $..s @ $6.30 = 1,890
Mar. 15 Sold 130 units @ $..s @ $6.10 = 3,355
Oct. 3 Purchased 500 units @ $..s @ $15.50 = 10,385
Required - Calculate the total goods available for sale (in units and cost).
Give reasons for the cash flows falling under the investing activities.Depreciation charged on these tangible assets for the year @10%.
Did Tootsie Roll have any potentially significant credit risks in 2011? (Hint: Review Note 1 under Revenue recognition and Note 9 to the financial statements.)
Lori, who is single, purchased 5-year class property for $31,000 and 7-year class property for $42,000 on May 20, 2014. Lori expects the taxable income derived from her business (without regard to the amount expensed under Sec. 179) to be about $1000..
Identify items that reverse in sign over two consecutive years. Comment on the sources and uses of cash based on the cash flow.
Calculation of a cost charged to a project - How much Logistics Department cost should be charged to the Atlantic Division at the end of the year for performance evaluation purposes
Airline X depreciates its airplanes over a 15-year period and estimates a salvage value of 10% of the cost of the plane. At the same time, Airline Y depreciates identical airplanes over a 25-year period and estimates a salvage value of 15% of the cos..
The Wet Dog Surf Company borrows $30,000 for 11 months and will pay $2,887.50 interest . Calculate Wet Dog's Annual Percentage Interest Rate (APR) (rounded to two decimal places).
Provide an example of resources that are temporarily restricted as to (a) purpose, (b) time, and (c) occurence of a specific event. Provide an example of permanently restricted resources.
Determine the April 2014 residual income for an investment center with the following information:
Prepare a determination and distribution of excess schedule for the investment (a value analysis is not needed). Prepare all the eliminations and adjustments that would be made on the 20X1 consolidated worksheet.
During February, $186,500 was paid to creditors on account, and purchases on account were $201,400.-determine the account balance on February 1.
Pete Payee specially indorses a note payable to his order and also uses the words "without recourse." What is the effect of the words "without recourse" here?
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