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Alpha Company manufactures products XX-1 and XX-2 from a joint process. Total joint costs are $300,000. The sales value at split-off was $350,000 for 4,000 units of product XX-1 and $150,000 for 1,000 units of product XX-2.
Required
Assuming that total joint costs are allocated using the net realizable value at split-off approach, what amount of the joint costs was allocated to product XX-1?
A corporation has $50,000 shares of $25 par value stock stock outstanding that has a value of $120. If the corporation issues a 5-for-1 stock split, the par value of the stock will be: a. $5 b. $60 c. unchanged d. $24
When a fire truck purchased from General Fund revenues was received, the appropriate journal entry was made in the governmental activities general journal. What account, if any, should have been debited in the General Fund?
the happy day care center is considering an investment that will require an initial cash outlay of 300000 to purchase
Acorn Industries completes these transactions during July of the current year (the terms of all its credit sales are 2/10, n/30).
The auditors compare information on canceled checks with information contained in the cash disbursement journal. The objective of this test is to determine that:
1.warner tool company produces class rins to sell to collegeand high school students. these rings sell for 75.00 each
wendy receives a proportionate nonliquidating distribution from the wxy partnership. the distribution consists of 75000
Cerulean Corporation has two equal shareholders
Calculate the inventory value at the end of the year using the dollar value LIFO retailmethod.
What is its adjusted basis in the new photocopying machine?
At the end of the first quarter of operations, when it is time to remit the sales taxes to the state taxing agency, the company has $ 420,000 in the Sales account. Determine the correct amount of sales revenue and the amount of sales tax payable.
bee company purchased 70 of apple corporation for 350000 on january 1 2008. on may 30 2008 apple corporation declared
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