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Problem 1: Normally, if you get an item returned, you make a journal entry to reflect that you have the item back. But since this is damaged, what do you do? And since they use the periodic inventory system, you don't usually make journal entries to inventory. So how do you journalize the items return?
Problem 2: You then spend $20 to repair the item. Once the item has been fixed, you can now sell it for $50. How do you journalize to record the repair costs? And now that it is fixed and worth $50, how do you record that? Or do you need to? Do you have to keep it separate from the rest of your other inventory because it is damaged?
Assume next year's dividend is $8, the market capitalization rate is 10% and next year's EPS is $13. What is Z-prime's stock price?
In 2013, Ryan Management collected rent revenue for 2014 tenant occupancy. For financial reporting, the rent is recognized as income in the period earned, but for income tax reporting it is taxed when collected. The unearned portion of the rent colle..
During 2009, the company increased the efficiency of its operation by installling a new computer system. Based only on the information above, indicate factors that would affect the risk of material mistatement and explain why
Describe the change in long-term obligations (debt) that has taken place relative to the changes in total assets and stockholders' equity
Calculate the ending inventory using (a) FIFO, (b) LIFO, and Average Cost methods.
Explain briefly the initial cost of the extractor machines to be recognized in the Statement of Financial Position as at 1 November 2015.
G had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on April 1, 2011. What is 2011 basic earnings per share?
When yields are positive, Treasury bills are issued at a price? That is independent of their face value./That exceeds their face value
What is meant by a forfeited shares reserve? What does it mean if a company has created a forfeited share reserve? (reference your answer where appropriate).
The book credited a check payment to a supplier made in November at P5,600. What is the adjusted cash balance in November
A retail bookstore chain and an on-line bookstore. Which of the following activity ratios is most likely significantly higher for the on-line bookstore?
Which of the following methods does not require a hurdle rate
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