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Your accounts receivable clerk, Mitra Adams, to whom you pay a salary of $1,500 per month, has just purchased a new BMW. You decided to test the accuracy of the accounts receivable balance of $82,000 as shown in the ledger.
The following information is available for your first year in business.
(1) Collections from customers $198,000(2) Merchandise purchased 320,000(3) Ending merchandise inventory 90,000(4) Goods are marked to sell at 40% above cost
Instructions
Compute an estimate of the ending balance of accounts receivable from customers that should appear in the ledger and any apparent shortages. Assume that all sales are made on account.
List the different costs associated with the new product decision down the extreme left column (under Name of the Cost).
at the start of the current year blue corporation a calendar year taxpayer has accumulated e amp p of 1000000. blues
area company purchased a delivery van at a cost of 30000 cash on january 1 2013. the van has an estimated useful life
Tonya is a cash basis taxpayer. In 2010, she paid state income taxes of $5,000. In early 2011, she filed her 2010 state income tax return and recieved a $500 refund.
If the income tax rate is 30% and the amount of income taxes paid would be $300 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
Manufacturing overhead for the period is budgeted at $135,000, of which 20 percent is fixed. The 17,200 hours worked during the period resulted in production of 8,500 units. Manufacturing overhead cost incurred was $136,500.Calculate the following..
Two parents have decided to establish an investment program. They estimate it will cost $40,000 per year for four years. Their investment program will earn them 10 % over the years. How much do they have to deposit for a lump sum?
Prepare the business Income Statement for the period. Prepare the business Statement of Changes in Equity for the period, Prepare afully classified Balance Sheet at the end of the period.
cardinals corporation had a 1114 balance in the allowance for doubtful accounts of 20000. during 2014 it wrote off
hoang a super salesman contemplating retirement on his fifty-fifth birthday decides to create a fund on a 10 basis that
Website icon Annotated Bibliography and Outline Scoring Guide.
The dividend is expected togrow at a constant rate of 6 percent a year. What stock price is expected 1 year from now? What is the required rate of return?
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