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1. Jansen Corporation shipped $20,000 of merchandise on consignment to Gooch Company. Jansen paid freight costs of $2,000. Gooch Company paid $500 for local advertising which is reimbursable from Jansen. By year-end, 60% of the merchandise had been sold for $21,500. Gooch notified Jansen, retained a 10% commission, and remitted the cash due to Jansen. Prepare Jansen's entry when the cash is received.
medow inc is considering purchasing equipment cost 10000 with a 5 year useful life. the equipment will provide cost
Explain why limited leverage is good for business. Show the profitability of the project so that Stephanie can convince her father to purchase the truck by borrowing money.
big lake boat tours sold off one of their tour boats that was toosmall to meet the current needs of business.the boat
singer and mcmann are partners in a business. singers original capital was 40000 and mcmanns was 60000. they agree to
On April 25, Donnoly Company buys 4,200 shares of Carpenter common stock for $92,500, plus brokerage fees of $2,000. On October 31, Donnoly sells 600 shares of Corpenter stock for $15,500, less brokerage fees of $500. Prepare journal entries for t..
Determine the classification of the lease for US GAAP? Does the classification differ for IFRS? If so, why? Provide comments where any judgment by CCI's management would be necessary.
Rockhampton, Inc. app|ies factory overhead ba$ed on direct lab0r c0sts. The company 1ncurred the following costs during 2O11: direct materials costs, $650000.
The average credit card debt carried by college students was compared at public versus private universities. It was reported that a significant difference existed between the two types of institutions and that students at private universities carr..
What are some of the arguments in favor of using the indirect (reconciliation) method as opposed to the direct method for reporting a statement of cash flows?
Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2009.
What is the purpose of adjusting entries?
on september 1 2012 winans corporation acquired aumont enterprises for a cash payment of 718430. at the time of
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