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Problem 1: Awesome Mfg. Corp. has the following information for year: Cash P15,750; Accounts Receivable P 12,000; Accumulated depreciation P425; Inventory P 3,000; Marketable Securities 5,600; Prepaid Insurance 1,200, Equipment 6,500, Machinery 12,000. Trade Payable 3,450; Taxes payable 2,180, loans payable P12,175, Capital Stock 25,000 and retained Earnings?. Sales P 76,120; Gross Margin 70%, Operating expense P15,865, interest expense is 3% of loans payable, income tax is 30%. Using the information of awesome mfg , compute for the Pre-tax Margin
Burlington Exterminators Inc. has sales of $734,000, Suppose this firm paid out $85,000 in cash dividends. What is the addition to retained earnings?
What is TTT Corporation's after-tax cost of paying Lynette's salary excluding FICA taxes? Lynette is the CEO of publicly traded TTT Corporation
Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses
Terry traveled to a neighboring state to investigate the purchase of two hardware stores. His expenses included travel, legal, accounting, and miscellaneous expenses. The total was $52,000. He incurred the expenses in June and July 2015. Under the fo..
What should James Company report as its bad debt expense for this year? The James Company starts Year One with accounts receivable
Show the effects of the adjusting entries on net earnings and cash. Sutton Inc., a small service company, keeps its records without the help of an accountant.
Mel's Meals 2 Go purchases cookies that it includes in the 10,000 box lunches it prepares and sells annually. Mel's kitchen and adjoining meeting room operate at 70 percent of capacity. Mel's purchases the cookies for $1.16 each but is considering ma..
The cash account for Corey's Construction Company at August 31, 2020, Prepare the necessary journal entries for Corey's Construction Company at August 31, 2020.
Explain the fundamental differences between attitudes toward war in ancient China and Anciet Greece, Rome and emerging Western Europe. Once you've noted these cultural differences, please explain how they account for different modes of fighting, taki..
Explain and provide the rationale of the case applicable financial ratios and display the financial ratio calculations and present the workings
Orion, Inc., a U.S. Corporation, reports foreign-source income and pays foreign taxes for the tax year as follows. Orion’s worldwide taxable income is $600,000, and U.S. taxes before the FTC are $210,000 (assume a 35% rate). What is Orion’s U.S. tax ..
Demand is estimated to be 110,000 units annually. What is the price if a markup of 40% on total cost is used to determine the price?
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