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Problem 1: Besoluck company has sales of P480,000 and P450,000 for September and October respectively. Of the total Sales, 75% are on account. In addition, 1% of credit sales are returned and 20% of credit customers avail of a 2% discount. The company is able to collect 40% of credit sales in the month of sales and 60% is collected in the following month. During October, the company has written off P20,000 of worthless accounts but had collected P13,000 from an account previously written off. The company uses, 10% percent of receivables for estimating doubtful accounts. What amount is debited to doubtful accounts expense if the balance of the allowance for doubtful accounts on Oct 1 is P735050?
Calculate the amount of VAT payable by Ongoing Ltd for the quarter ended 30 April 2013 - The motor car is used for both business and private mileage.
The cost of innovation has a straight impact on marketing, service and sales section in the value chain. Without sales and growing market share.
Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF
What percentage of Accounts Receivable would be included in each of the budget months? Also explain the purpose of preparing a cash budget?
questionon march 1 2008 jackie chan company sold its 5 year 1000 face value 9 percent bonds dated march 1 2008 at an
Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production.
The ending inventory was 25% complete as to the conversion cost. 100% of direct material was added at the beginning of the process. What was the total cost transferred out?
Comment on how effective this course was in consolidating your graduate-level course work. Feel free to suggest any recommendations or improvements to make the course more effective.
What would be the operating profit of Company X if its production output for the year had been 110,000 units (equal to the number of units sold) instead of the 120,000 units production output level assumed in table?
Loma Company manufactures basketball,No additional design, marketing, or distribution costs will be acceptable bid per unit on this one-time-only special order?
What is the amount of the company's common stock as of December 31, 20X6?How much did the company pay in dividends during 20X6?
Prepare the journal entries to record the issuance of the bonds, all the interest payments, premium amortizations, bond issue cost amortizations, and the repayment of the bonds."
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