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On October 1, 1996, Acme Fuel Co. sold 100,000 gallons of heating oil to Karn Co. at $3. per gallon. Fifty thousand gallons were delivered on December 15, 1996, and the remaining 50,000 gallons were delivered on January 15, 1997. Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
a. $75,000
b. $150,000
c. $225,000
d. $300,000
Intercompany transactions are very important in the consolidation process. Choose an intercompany transaction. Discuss the effects of intercompany transactions when consolidating financial statements. Your discussion should include the effects on ..
Determine the depreciation and book value for each of the two investment groups for each year. Determine the gain/loss for tax purposes If the Group 5 and Group 7 assets are sold at the end of the planning period for a combined $500,000.
Suppose that, on March 28, 2020, this security's price is $38,260. If an investor had purchased it for $24,099 at the offering and sold it on this day, what annual rate of return would she have earned?
Soap Corporation issued a $350,000, 6% 15-year mortgage note to obtain needed financing for new office. The terms of the note call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment.
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The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011.
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How would I figure the monthly quality costs when I use overhead through the basis of direct labor costs? Then what would I do to figure out the quality costs though an ABC system?
The Mars Corporation issued 2,000 shares of its $10 par value common stock for $70,000. The Mars Corporation also incurred $1,500 of costs associated with issuing the stock.
Prepare the journal entry for Sorter Company to write off the Ordonez receivable. When writing the journal entry use Dr. for debit and Cr. for credit.
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