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1. Distinguish between gross profit as a percentage of cost and gross profit as a percentage of sales prices. Convert the following gross profit percentages based on cost to gross profit percentages based on sales price: 25% and 331⁄3%. Convert the following gross profit percentages based on sales price to gross profit percentages based on cost: 331⁄3% and 60%.
An internal audit discovered that amortization of intangible assets was understated by $35,000 (net of tax) in a prior period. The amount was charged against retained earnings.
In a job-order costing system, direct labor costs usually are recorded initially with a debit to:
Audit Software Evaluation Directions
as you have learned in this weeks readings the accounting equation is assets liabilities owners equity. is the
The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two years.
Pick two companies from the same industry (example: Ford and GM). Analyze their 1) current assets to their current liabilities, 2) their long-term debt to their total equity and determine their total capitalization and debt ratio percentage for th..
Prepare an amortization schedule that would be suitable for the lessee for the lease term
aren austin corporation has capitalized software costs of 858500 and sales of this product the first year totaled
memorax company earned before-tax income of 865000 for its 2011 fiscal year. during the year the company experienced a
paschals parasailing enterprises has estimated that fixed costs per month are 115600 and variable cost per dollar of
topple company produces a single product. operating data for the company and its absorption costing income statement
What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?
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