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Marvin Gaye Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed a long-term noncancelable purchase commitment with its largest supplier of this raw material on November 30, 2014, at an agreed price of $673,850. At December 31, 2014, the raw material had declined in price to $647,230.
What entry would you make on December 31, 2014, to recognize these facts?
Why do you think it took from 1999, when the XBRL concept was invented, until 2009 for the SEC require that public filers adopt?
Assume Jane and Jon exchanged their property for stock four years ago while Clyde transfers his property for350 shares in the current year. Clydes transfer is not part of a prearranged plan which Jane and Jon to incorporate their business. Illustr..
All sales are subject to a 6% sales tax. Compute sales taxes payable and make the entry to record sales taxes payable and sales.
the following information about the payroll for the week ended december 30 was obtained from the records of qualitech
Accounting entries from the given information - COLO COMPANY Sales Journal
Calculation of wages paid to employees - Compute the following Indicate the best answer to each question in the space provided.
Review the following facts for four separate companies. Identify the two companies that lost money during the year, explaining how you reached your conclusion for each.
Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December 15, 2012, Watkins Enterprises declared the annual cash dividend on its 2% preferred stock (total par value, $140,000) and a $0.70 per share cash divi..
Calculate basic and diluted earnings per share figures for 20X2 and To date, customer retention was in the range of 65%, and the key employees have remained in Aker's employment.
Company has sales forecasts of the following: February = $40,000; March = $65,000. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible. I..
Debit entry for each of them separately and then make one credit entry in the total amount to the Income Summary account.
What is the functional currency of their foreign subsidiaries and on average, did the US dollar strengthen or weaken against the currencies of WalMart's subsidiaries from 2010 to 2011? From 2011 to 2012?
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