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On October 1, 2013, the City of Highland placed an order with Ajax Sand & Gravel Co. for 1,000 tons of cinders to be spread upon Highland,streets during winter storms. The estimated cost of the cinders was $ 10 per ton, delivered. Ajax delivered 800 tons of cinders to Highland,road maintenance yard on October 20, along with an invoice for $ 8,000. Ajax delivered the remaining 200 tons of cinders on November 1, along with an invoice for $ 2,000. Prepare the General Fund journal entries necessary on October 1, October 20, and November 1, 2013. Classify the expenditures as Road maintenance.
explain the value of separating cash flows into operating activities investing activities and financing activities to
A manufacturing company makes the products that it sells. Briefly identify and define the cost elements that are incurred in making a product. After product cost elements are identified, how is the cost of goods manufactured for a period determine..
A local finance company quotes a 16.8 percent interest rate on one-year loans. So, if you borrow $30,000, the interest for the year will be $5,040. Because you must repay a total of $35,040 in one year, the finance company requires you to pay $35,..
suppose you have a winning sweepstakes ticket and you are given the option of accepting 250000 three years from now or
He wants to know how much he should set aside at the beginning of each month at 6% interest to accumulate the sum of $4,800 in five years.
The machine will have a 12-year useful life and no salvage value. Instructions (a) Calculate the cash payback period. (b) Calculate the machine's internal rate of return. (c) Calculate the machine's net present value using a discount rate of 10%.
Supplemental information shows raw materials purchases of $60,000, raw materials used in production of $90,000, direct labor of $107,000, and manufacturing overhead of $113,000. You also know that the company's ending work in process was 40% of it..
Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $437,200; Purchase Returns and Allowances $10,310; Purchase Discounts $8,120; and Freight-in $15,120.
In the consolidated income statement of Push Company and its subsidiary, Shove Corporation, the noncontrolling interest was assigned $24,000 of income for 2009. What amount of net income did Shove report for 2009 if Push owns 80 percent of Shove?
a. what is the present value of 200000 to be paid at the end of 10 years assuming an 8 interest rate?b. what is the
Write a paper that describes the main aspects of the regulatory environment which will protect the public from fraud within corporations, Pay particular attention to SOX requirements.
Hayden's outside basis in his interest in the HIGH Partnership is $420,000. In a proportionate nonliquidating distribution, the partnership distributes to him cash of $100,000, inventory
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