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Question - Fire occurred at the factory of Burny Corporation on February 16, 2020 which damaged its merchandise inventory. You were given the following data: Inventory, January 1, 2010 P 400,000, Sales (including sales delivered still in transit FOB shipping point, P 50,000) P980,000, Purchases (including those still in transit, Shipped FOB shipping point P 40,000, Shipped FOB destination, P35,000) P700,000. The merchandise saved from fire was estimated to be P 8,500. Burny Corporation's policy is to add 40% on its cost. Compute the estimated value of inventory damaged by fire. Present solutions in good accounting form.
On November 22, 2012, the copier requires on-site repairs that are completed the same day. How much warranty expense does the company report
Swan Dry Cleaners is owned and operated by Peyton Keyes. A building and equipment are currently being rented, pending expansion to new facilities.
on july 16 2013 taylor acquires land and a building for 500000 to use in his sole proprietorship. of the purchase price
Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the two months ended February 28.
Define strategic surveillance. How does the nature of strategic surveillance differ from that of premise controls?
during 2009 the ellis corporation had 370000 shares of 20 par common stock outstanding. on january 1 2009 2000 8
Discuss differences in accounting for for-profit and not-for-profit organizations. Be sure to consider differences in organizational ownership, fund accounting
Question - The property tax paid for a property at a tax rate of 0.754% is $5,239.31. Calculate the assessed value of the property
Country's records showed that it had logged 3838 billable hours. What was the amount of gross profit that Lake Country made on the? job?
How much is the estimated inventory fire loss? How much is the adjusted balance of the Accounts Payable as of April 21, 2015
What is the net Form W-2 wages? What is miscellaneous income? What is Schedule B income (Interest and dividends)
Sales were $150,000. The gross profit rate is 30%. Using the gross profit method of inventory estimation. What is ending inventory
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