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A company allows its customers to use bank credit cards to charge purchases. When customers use the credit cards, the net amount is deposited in the company's checking account. The company also is charged a 2.5% service charge for these credit card sales. Assume that on April 13, the company sold $25,000 worth of merchandise to customers who used credit cards. Prepare the company's journal entry to record the credit card sales for April 13 assuming the company deposited the receipts that same day.
What employment records are important to keep? Why?
If you had been an analyst evaluating Bethlehem's 2001 third-quarter 10-Q, explain whether or not you would have downgraded Bethlehem's stock.
Birch Company normally produces and sells 45,000 units of RG-6 each month. RG-6 is a small electrical relay used as a component part in the automotive industry. The selling price is $49 per unit, variable costs are $21 per unit, fixed manufacturin..
Why is a statement of functional expenses considered an important financial statement for a voluntary health and welfare organization? How does a statement of functional expenses differ from the expense section of a statement of activities? Do the..
Explain to Tom two key benefits to Buildit New Zealand for undertaking financial statement analysis and complete the "Table of Financial Ratios for Buildit New Zealand Limited, for 2013 and 2014
Assuming the Koger uses straight-line depreciation, what is the net book value for machine #25624 on March 31, 2008?
What is the amount of contribution margin that will be obtained per machine hour on each product? Which product would you recommend that the company work on next week - the orders for product F, product G, or product H? Show computations.
Samantha exchanges a truck used in her business with Phyllis for another truck. The basis of Samantha's old truck is $25,000, FMV is $33,000, and she gives Phyllis cash of $7,000. Phyllis's basis in her truck is $35,000 and its FMV is $40,000. Wha..
Since break-even focuses on making zero profit, is it of value in determining how many units must be sold to make a targeted profit? if so, what is it. I'm struggling to understand this. Examples would be great as references.
Compute the balance in the Accumulated Depreciation account at the end of 2013 using the straight-line method.
What makes a contribution income statement unique? Discuss how a contribution income statement could be used to improve planning in a company.
With that said, is pursuit of ALL self interest in contract unethical? If not, at what point does it become unethical?
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