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When purchasing merchandise on account for say $88,000, but you pay $67,000 cash on the $88,000 due. Your sales are $145,000, and the ending inventory is $24,000 what would the gross profit be?
A company established a petty cash fund of $100 on September 1. On September 15, the petty cash fund was increased to $125 in total. Record the above transactions in general journal form.
how much liability for outstanding premiums should be recorded at the end of 2008?
Discuss the four elements of the budgeting cycle. What are the human aspects of budgeting? Do you have a budget for personal expenses? Does it work?
In the case of a privately held company, what should be the focus of management, to meet all the reporting guidelines set by the FASB ASC, or to maximize the profits of the company?
Prepare the accounting records for Tanya's Tutoring Service (Version A), Set up the Chart of Accounts, Prepare the bank reconciliation for January 31, 2013
How does the use of the accrual basis help organizations to better evaluate their performance over time? What protection could financial statements generated under the accrual basis have to a potential donor in the organization?
On January 1, Year 1, Jayco purchased a machine for $6,000. It had an estimated salvage value of $1,200 and a life of six years. The straight-line method of depreciation was used. At, midyear in Year 4, Jayco sold the machine for $4,500 cash.
Does a non-controlling shareholder have access to any information other than the consolidated financial statements to determine how well the subsidiary is doing?
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Give an example of one accrual-based ratio and one cashbased ratio to measure these characteristics of a company:(a) liquidity, (b) solvency, and (c) profitability.
Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.
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