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Mortonson Corporation factored, with recourse, $300,000 of accounts receivable with Huskie Financing. The finance charge is 3%, and 5% was retained to cover sales discounts, sales returns, and sales allowances. Mortonson estimates the recourse obligation at $7,200. What amount should Mortonson report as a loss on sale of receivables?
A. $31,200
B. $16,200
C. $9,000
D. $0
Edgemont paid cash dividend of 25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006.
Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the total cost of the departmental work in process inventory at the end of the pe..
a) Prepare the companies sales budget and schedule of expected cash collections. b) Prepare the companies production budget fro the upcoming fiscal year
Rollie Company is launching a new cleaning product for ceramic vases. The company invests $1,200,000 in operating assets, such as production equipment,and plans to produce and sell 400,000 units per year. Rollie wants to make a return on investmen..
The measurement date for shares issued to employees in share option plans accounted for using the fair-value method is:
Evaluate the equivalent units of production for each cost element in the Creation Dep. for the month just ended. Find out the average cost per equivalent unit for each cost element.
Your firm has clients named Danny and Mary. They are married and have two dependent children. They also fully support Mary's mother, who lives with them and has no income.
For the expenditure cycle at Hewlett-Packard or any other company, what's your suggestion for the following recommendations to have good internal control of the purchase order processing?
(a) what is meant by the term "lobbying"? (b) who would be likely targets of coca cola Amatil's lobbying activities ? (c) why would adoption of international standards do heavily affect coca cola Amatil?
Pinson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were ..
The cash disbursements for selling and administrative expenses on the August selling and administrative expense budget should be?
Barr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of this long-term investment in bonds is
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