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Question - ABC Corp., whose gross sales amounted to P1.2M, sold on terms of 3/10, net 30. The collections manager estimated that 30% of the customers pay on the 10th day and take discounts; 40% on the 30th day; and the remaining 30% pay, on the average, 40 days after the purchase. If management would toughen on its collection policy and require that all non-discount customers pay on the 30th day, how much would be the receivables balance?
What is Kelly's deductible theft loss in the current year and what is Kelly's deductible theft loss in the current year if the theft is not discovered, until January of the following year?
The Brown family is buying a new 3,500-square-foot house in Muncie, Indiana, What will be their monthly loan payment
The cost of goods sold for 2010 was P900,000 and the ending inventory at December 31, 2010 was P180,000. What was the inventory turnover for 2010?
How to Make all of the required journal entries to record the sales and purchase transactions above including sales and purchase returns
Continental Company manufactures high quality custom -made furniture. The company has a perpetual inventory system, and uses normal costing in conjunction with job-order costing. Manufacturing overhead is being applied during calendar year 2015 on a ..
Variable costs are $50 per room occupancy and fixed costs are $3,300,000 per year. Find the number of rooms that must be let for the hotel to breakeven
During the year you receive a $1 dividend per share. If her total investment was $2,500, how much does she have at the end of the year ($)
Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash. What is the budgeted net income for November
What of the subsequent is not a significant difference between IFRS and U. S. GAAP related to recognition and measurement of assets and difference in the evaluation of whether an asset is impaired.
April 2, 2014, when the market price is $23 per share. By what amount will W's shareholder's equity be increased when the options are exercised?
Explain With reference to relevant legislation and case law discuss whether casinos prepaid rent is considered a revenue expense or a capital expense.
Provide estimate for the average age at the start of 2020. Explain your estimates (please show calculations + inputs to back up the explanation).
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