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Montoya Co. uses the gross method to record sales made on credit. On June 1, 2008, it made sales of $40,000 with terms 3/15, n/45. On June 12, 2008, Montoya received full payment for the June 1 sale. Prepare the required journal entries for Montoya Co.
the records at the end of january 2012 for captain company showed the following for a particular kind of merchandise
Identify three major disadvantages of test marketing and propose how each one can be avoided. Describe three products whose adoption rates have been affected by complexity, compatibility, relative advantage, observability, and/or trialability.
A company projects annual cash inflows of $85,000 each year for the next five years if it invests $300,000 in new equipment. The equipment has a five-year life and an estimated salvage value of $75,000. What is the accounting rate of return on thi..
Soft Cushion Company (SCC) is highly decentralized. Each division is empowered to make its own sales decisions. The Assembly Division can purchase a key component-stuffing-from the Production Division or from external suppliers.
Prepare journal entries required at December 31, 2010, and December 31, 2011, assuming that the inventory is recorded at cost and an allowance account is adjusted at each year-end under a perpetual system.
Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Assume you are opening a small food outlet across the street from your cam..
a) Journalize the transaction, events, and closing entries b) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts c) Prepare a retained earnings statement for the year d) Prepare a stockholders' equity section ..
Prepare Pelham's accounting entry to record the combination with Sampras using the acquisition method and purchase method."
Prepare a Job Cost Sheet for Job No.13A,following properformat. Pass the necessary Journal entries and prepare T account ofWork-In-Process.
at each calender year end maize supply co uses the percent of accounts receivable method to estimate bad debts.on 31
Prepare CPA's general journal entry for the cash purchase of CMA's net assets. Do not use implied fair value.
The preferred stockholders were paid $20,000 for each of 2010 and 2009 years respectively. What is the amount of dividends common shareholders will receive in 2011?
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