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1.During 2013, its first year of operations, Hollis Industries recorded sales of $10,600,000 and experienced returns of $720,000. Cost of goods sold totaled $6,360,000 (60% of sales). The company estimates that 8% of all sales will be returned. Prepare the year end adjusting journal entries to account for anticipated sales returns.
minden company is a wholesale distributor of premium european chocolates. the companys balance sheet as of april 30 is
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during the year ravenna paid a 9300 cash dividend and it sold a piece of equipment for 4650 that had originally cost
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S. Company exchanged 400 shares of Daily Company common stock, which Herman was holding as an investment, for equipment from West Company. What journal entry should Herman make to record this exchange?
Cite two examples of circumstances in which a government may find it necessary to record deferred revenues in governmental type funds?
brilliant accents company manufactures and sells three styles of kitchen faucets brass chrome and white. production
sanchez corporation is considering three long-term capital investment proposals. relevant data on each project are as
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the following information regarding inventory transactions is available for the month of
Free cash flow is expected to grow at 6% rate after 2011. Thw weighted average cost of capital is 11%. If operating capital as of 12/31/2010 is $502.2 million, what is the free cash flow for 12/31/2011?
a manager believes that the shelf life of apple juice is normally distributed. a sample of 30 containers of juice was
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