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Accounting for Inventories Using the perpetual inventory system, record the following transactions in the general journal of Fitzroy Ltd, assuming the business is registered for GST. All figures are GST inclusive.
1. Purchased 240 units for $242 (incl. GST) each on credit. 2. Returned 12 units to the supplier. 3. Sold 48 units for $418 (incl. GST) each on credit.4. Purchased office supplies for $396 (incl. GST) cash. 5. Customer returned 6 of the units sold in (3). 6. Sold 42 units for $429 each on credit. 7. The physical inventory count at the end of the period consisted of 140 units of inventory.
Problem 1: Record any required adjusting entry(ies) for inventory shortage expense.
Compute the current break-even sales (units). Compute the anticipated break-even sales in units, assuming that the unit selling price is increased and all costs remain constant.
Manson Industries incurs unit costs of $7 ($5 variable and $2 fixed) in making an assembly part for its finished product. A supplier offers to make 18,300 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable co..
Find How much additional tax will you owe if you increase your taxable income by $22,100? Your firm currently has taxable income of $80,900.
What is the yield to maturity of the Bozo Company's existing bonds? What coupon rate should be set for the new bonds of the Bozo Company
s Allocated air freight, Shanghai to Memphis a variable cost or fixed cost? Is Software royalties per phone licensed a variable cost or fixed cost?
If JB owns less than 20% of the stock in an other company, What JB's taxable income is? JB Enterprises, Inc. reported the following information for 2006
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calculate the ebit-eps indifference point.emco products has a present capital structure consisting only of common stock
Listed in random order are some of Oxford Services Company's account balances as of December 31, 2014. Place the balances in proper order and prepare a balance sheet similar to the one in Exhibit 9.
Find What was the amount of tax paid during the year? Provision for tax at the start of the year, The provision for tax made during the year was Rs.1,20000.
Redo the company's contribution format income statement assuming that the company sells 3,400 units. The following is Arkadia Corporation's contribution format income statement for last month: What is the company's contribution margin ratio? What is ..
question on 1st january 2012 when its 32 par value common stock was selling for 73 per share bartz corp. issued
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