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Question - Flint Company had the following account balances at year-end: Cost of Goods Sold $64,950, Inventory $14,340, Utilities Expense $29,600, Sales Revenue $122,540, Sales Discounts $1,100, and Sales Returns and Allowances $1,970. A physical count of inventory determines that merchandise inventory on hand is $12,520. They use the perpetual inventory system.
Required - Prepare the adjusting entry necessary as a result of the physical count.
in 2008 wishbone corporation had an operating profit of 750000 and a residual income of 300000. if wishbones cost of
small tykes world company mass-produces chairs for children. the chairs can be purchased in a variety of colors but
Goofy reclassified this investment as trading securities in December of 2011 when the market value had risen to $125,000. What effect on 2011 income should be reported by Goofy for the Crazy Co. shares?
Mabuti net income is P120,000 and paid dividends of P50,000. How much is full goodwill in December 31, 20x8 consolidated financial statements
During 2019, intercompany sales of merchandise on account amounted to P1,980,000, What is the consolidated net income for the year ended
If the market risk premium is 13.89% and the government bond yields 2%, find the expected return from the security-DTX using the CAPM
On March 1, 2009, Warren sold 30 million common shares. In keeping with its long-term share repurchase plan, 2 million shares were retired on June 30. Warren's net income for the year ended December 31, 2009, was $1,050,000,000. The income tax rat..
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Prepare the necessary correcting entries, assuming that Kingbird uses a calendar-year basis. The books for the current year have not been closed
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during its first year of operations pele corporation had these transactions pertaining to its common stock. jan. 10
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