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Question - Assume that ABC corporation purchased merchandise from DEF Company with an invoice price of Php 200,000; terms: FOB Shipping Point, 3/10, n/30 The purchased took place on November 3, 2016. DEF Company prepaid the freight charges of Php 3,000. The ABC paid the full account on November 11, 2016. Assume further that the ABC corporation uses periodic inventory system. Prepare the entries in the book of ABC Corporation to record the purchased and payment under;
a) Gross Method
b) Net Method
suggest a process for evaluating the success of the new system and procedure for implementing software fixes and
product a unit sales price 5 unit contribution margin .75 sales mix 80product b unit sales price 4 unit contribution
Prepare an income statement for Wayside Inc. for the year ended December 31, 2010. (List multiple entries from largest to smallest amounts, e.g. 10, 5, 1.)
Bauerly decided to use the equity method to account for the investment. What is the noncontrolling interest's share of Devin's net income for 2010
What is the amount of tax revenue that the local government will report after the above entries for 2017
Explain how each of these events affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation.
Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10% interest in net assets of Lavery rather than a 30% interest.
Pina Corporation wants to withdraw $113,110 (including principal) from an investment fund at end of each year, What should be the required initial investment
Jack Kelly Company has grown rapidly since its founding in 2004. To instill loyalty in its employees, Kelly is contemplating establishment of a defined benefit.
What accounts receivable balance would Dinty report in its first year-end balance sheet?a) $408,700b) None of the above is correct.c) $429,200d) $377,900
Comprehensive Care Nursing Home is required by statute and regulation to maintain a minimum 3 to 1 ratio of direct service staff to residents to maintain.
Foley Corporation has retained earnings of $3,000,000 on January 1, 2017. Prepare retained earnings statement for 2017
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