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These data pertain to installment sales of a company:
Down payment, 20%Installment sales: P545,000 in year 1; P785,000 in year 2; and P968,000 in year 3.Gross profit based on cost, 35% (Hint: convert to gross profit based on sales)Collections after down payment: 40% in the year of sale, 35% in the year after sale, and 25% in the third year.
Problem 1: How much is the unrealized gross profit at the end of year 3?
a. 198,574b. 211,047c. 161,166d. 217,574
Calculate the total value of the annuity due at the end of the 5-year period.Susan Jenkins invested $9000 twice a year in an annuity due at New York Securities.
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Listed below are 12 internal control procedures or requirements for the expenditure cycle (purchasing, payroll, account payable, and cash disbursements) of a manufacturing enterprise. For each of the following, identify the error or misstatement that..
Suppose instead that Acort has debt with a face value of $13 million due in one year. According to? MM, what is the value of? Acort's equity in this? case?
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On January 1, 2008, Milan Company granted share options, What the exercise of the 18,000 options will result in a credit to Share premium - excess over par of
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As the new controller for Overseas Inc., you have the responsibility of preparing the year-end financial statements for the company for year 20x2. Overseas has a fiscal year end of December 31. Prepare the operating cash flows section of the statemen..
The Raintree Cosmetic Company has several loans outstanding with a local bank. The debt agreements all contain a covenant stipulating that Raintree must maintain a current ratio of at least .9. Jackson is concerned about the ethics of his proposal. ..
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The partners share the profits equally. - Prepare the appropriation account and show the partners current accounts.
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