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1.Following are Nintendo's revenue and expense accounts for a recent calendar year (yen in millions). Prepare the company's closing entries for its revenues and its expenses.
Net sales . . . . . . . . . . . . . . . . . 1,014,345Cost of sales . . . . . . . . . . . . . . 626,379Advertising expense . . . . . . . . 96,359Other expense, net . . . . . . . . . 213,986
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The standard quantity allowed for the units produced was 6,500 pounds, the standard price was $2.50 per pound, and the materials quantity variance was $375 favorable. Each unit uses 1 pound of materials. How many units were actually produced?
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lloyd christmas ltd.s accounting records reflect the following account balances at january 1 2005 equipment 160000
Ashland Burglar Alarms Inc. sells a single product. The product has a selling price of $50 per unit and variable expenses of 80% of sales. If the company's fixed expenses total $150,000 per year, then it will have a break-even point in sales dolla..
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