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Question - ABC Kitchen sells dishwashers and garbage disposals to customers. The company buys the dishwashers and garbage disposals from a wholesaler and it costs the company $7,000 for each dishwasher and $4,000 for each garbage disposal. The company sells its dishwashers for $10,000 and garbage disposals for $6,080 each. ABC Kitchen will install the dishwashers and garbage disposals for $1,000 each. On Dec 26, 2021, during Boxing day sales, ABC Kitchen offered a deal to its customers where they could buy a dishwasher, garbage disposal, including full installation package for a total price of $14,000. The Company sold 100 packages. The dishwashers and garbage disposals were shipped and delivered on Jan 18, company completed half the installations on Jan 22, 2022 and the 2022 remaining installations were done on Jan 29, 2022. Prepare the required journal entry.
What data is used to create the budget? What other information is needed (in addition to just the budgeting information) to forecast
How many semi-annual payments of 6,000 pesos each are necessary to accumulate 300,000 pesos if interest is at 7% compounded semi-annually?
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO,(b) LIFO, ..
Record any entry required related to the mining rights and obligation at December 31, 2020. Show all your calculations and round all figures to nearest dollars
Calculation of product cost and breakeven point - Evaluate the product cost of training a student over the entire course (there are 75 students in this particular course)?
Use this information to prepare multiple-step income statement, a retained earnings statement, and a classified balance sheet
What is the discounted payback period? If the firm requires a discounted payback periods 3 years or less, will the project be accepted?
What is the biggest competitive challenge or change facing the businesses in Accountants today? Will that be different in the next five years
Scheduled payments of $1167, $574, and $244 are due in one year, four-and-a-half years, What is the equivalent single replacement payment
create T-account for the following accounts: Cash, Note Receivable, Equipment, Land, NotePayable, and Contributed Capital. Assume that the beginning balances are zero. For each of preceding transactions, record the effects of the transaction in ap..
Evaluate the company's total cost of merchandise purchased for the year and prepare a multiple-step income statement that includes separate categories for selling expenses and for general and administrative expenses.
You have recently applied for a position as a graduate with a company in the very competitive retail fashion business. The company sells low cost fashion items in its own branded shops throughout Australia. our company has come under increasing press..
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