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Question - Assume that on April 1, 2011, the Motor Sales Company sells a car for an installment price of P145, 000. The car costs P100, 000. The customer is allowed a trade-in value of P45, 000 for this old car. He makes a down payment of P40, 000 and the balance to be paid in twelve equal installments in P5, 000 each. It is estimated that the old car can be sold for P70, 000 after incurring reconditioning expenses estimated at P11, 000. The company usually makes a gross profit of 20% on resale. Make the necessary journal entries.
Dubi, Inc., which owes Dap Co. P800,000 in notes payable, Compute the amount of gain or loss to Dubi, Inc. on the transfer (disposition) of the land
Prepare for the conversation between the accounts receivable clerk (yourself) and business owners of Hurst and Smith Plumbing, Dale Hurst and Sean Smith
Determine if it is Direct materials, Direct labor, Manufacturing overhead, DIRECT COST, INDIRECT COST, PRODUCT COST, or PERIOD COST
Beginning inventory on May 11,500 units @ $4.60. What is the amount of gross margin assuming the weighted average cost flow method is used
Construct and graph the Security Market Line (SML) (use a scatter plot and fit the SML line) showing where WOW, WES and the MKT should lie
Assets and current liabilities are expected to increase with sales, what amount of additional funds will Psy Ops need from external sources to fund the expected
Identify three areas of compliance you could monitor in your workplace and explain how you would ensure that regulations are being adhered to.
The standard costs and actual costs for direct labor in the manufacture of 2,500 units of product. What The direct labor time variance is
Explain how is income defined in analyzing profitability? Identify and discuss the four factors in measuring income. Describe the Two-Phase analysis of income.
the market for pizza is characterized by a downward-slopping demand curve and an upward slopping supply curve. Draw a competitive market equilibrium. label the price, quantity, consumer surplus, and producer surplus. is there any deadweight? expla..
Wilson Corporation is issuing $200,000 of 12%, 5-year bonds when potential bond investors want a return of 10%. Interest is payable semi-annually. Calculate the issue price (present value) of the bond.
Depreciation expense of $51,000, and addition to retained earnings of $63,750. Calculate times interest earned ratio while income tax rate is 34%.
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