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Question 1: A contractor has to supply 8,000 paper cones per day to a textile mill. He finds that when he starts a production run he can produce 35,000 paper cones per day. The cost of holding a paper cone in stock for one year is 3 paise and setting up cost of production run is Rs. 20. The Economic Batch Quantity (EBQ) is
Record the adjustment for ending inventory. Record the adjustment for seminar fees earned.
on july 1 2010 linux corporation a wholesaler of electronics equipment issued 45000000 of 10-year 10 bonds at an
Borrowed $100,000 for six years. Interest payments of $6,200 will be due at the end of each year and the $100,000 will be repaid at the end of the sixth year.
Explain the appropriate accounting treatment and measurement for the oil palm tree in accordance to the relevant MFRS. Justify your answer
Prepare the journal entry on Ludwig 's books to record the restructuring of this debt. Calculate the gain or loss to Giffin Co. from restructuring of its receivable from Ludwig.
Find and Calculate the cost of foregoing the following trade credit discount and paying on the last day allowed 3/10, n60 and 2/15, n30
You are conducting an annual audit of Granite Corporation, which has total assets of approximately $1 million and operates a wholesale merchandising business. The corporation is in good financial condition and maintains an adequate accounting system...
amy-jill corporation's capital structure consists soley of shares of common stock. 1/1/16 - 5,000 shares. 12/31/16- 15,000. there is no preferred stock. prepare a multi-step income statement with EPS. prepare a statement of retained earnings. within ..
Transaction. Center collects $2,000,000 in cash from outstanding accounts receivable. Analysis. Center collects cash, thus cash will go up by 2,000,000. Accounts receivable balance will go down because receivables in the amount of 2,000,000 have been..
On Jan 1, 2010, Morgan Company acquires 300,000 of Nicklaus, Inc, 9% bonds at 278,384. the interest is payable each December 31, and the bonds mature Dec 31, 2012. the investment will provide Morgan Company a 12% yield. The bonds are classified as..
In January of 2013, SLU of Tampa created a simple trust. This simple trust received interest income in an amount of $4,500 on October 6th of 2016. According to the IRS, this interest income qualified as tax exempt. SLU of Tampa invested $100,000 in l..
Prepare a multiple-step income statement for fiscal year 2011. Prepare a single-step income statement for fiscal year 2011.
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