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Sales-related transactions
Sombrero Co., a furniture wholesaler, sells merchandise to Belarus Co. on account, $64,300, terms 2/10, n/30. The cost of the merchandise sold is $38,000. Sombrero Co. issues a credit memo for $13,300 for merchandise returned and subsequently receives the amount due within the discount period. The cost of the merchandise returned is $8,000.
Journalize Sombrero Co.'s entries for (a) the sale, including the cost of the merchandise sold, (b) the credit memo, including the cost of the returned merchandise, and (c) the receipt of the check for the amount due from Belarus Co.
Strauss Table Company manufactures tables for schools. The 20x4 operating budget is based upon sales of 20,000 units at $ 100 per table.
Actual production and sales were 62,900 coffee mugs, actual direct materials usage was 10,000 lbs. at an actual price of $0.17 per lb., actual direct labor usage was 202,000 minutes at a total cost of $30,300
Determine the length of the inventory conversion period. Determine the length of the receivables conversion period. Determine the length of the operating cycle. Determine the length of the payables deferral period.
a consulting firm produces a service that requires the use of labor and materials. each unit of service requires a
Why might it be easier for an investor desiring to diversify his portfolio internationally to buy depository receipts rather than the actual shares of the company?
Thomas Selling, an expert on nuclear strategy and arms control, examined in his book The Strategy of Conflict (Cambridge, MA: Harvard University Press, 1960), " The power to constrain the adversary depends on the power to bind oneself." Describe t..
in the second part of the report you will complete the literature review and the methodology.the literature review will
What are the various kinds of budgets? Please explain each, which type of budget is best for your selected company?
Explain Traditional managerial approach? How would allocate resources based on cost efficiencies attempting to optimize benefit for the cost. How political approach to budgeting is one of political responsiveness and ranking system based on relati..
more limited produces four types of electric motors. type x and y are sold by the business to external customers. the
Describe how a job analysis increases productivity, aids in job description creation, and guides employee team formation.
Galaxy Disk's projected operating income for 2008 is $200,000, based on a sales volume of 200,000 units. Galaxy sells disks for $16 each. Variable costs consist of the $10 purchase price and a $2 shipping and handling cost. Galaxy's annual fixed c..
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