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Question 1: Express company has a delivery truck that cost Birr 48,000 and has been depreciated Birr 20,000 Record journal Entries under the following assumptions
A) It was retired as having no value
B) It was sold for Birr 31,000
C) It was sold for Birr 18,000
Baxter Company's merchandise inventory at the start of 2014 was $85,000. The company purchased inventory during 2014 in the amount of $323,000, and its inventory at the end of the year was $102,000. What was Baxter's Cost of Goods Available for Sale ..
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $21,920 per car. The cars will be sold to a wholesaler at an estimated $4,000 each as soon as they have been driven 56,000 miles
Frank Corporation manufactures a single product that has a selling price of $20.00 per unit. Fixed expenses total $42,000 per year, and the company must sell 6,000 units to break even. If the company has a target profit of $14,000, sales in units mus..
Which of the following events would be least likely to modeled in a resource-entity-agent diagram?
duty of the cost accountant in a process cost system .estimating the stage of completion of in-process units at the end of the month
The president of Gonzales, Inc. used his expense account to purchase a new Suburban solely for personal use. The following journal entry was made. Miscellaneous Expense 29,000 Cash 29,000
Tawstir Corporation has 500 obsolete personal computers that are carried in inventory at a total cost of $720,000. If these computers are upgraded at a total cost of $190,000, they can be sold for a total of $250,000. What is the net advantage or dis..
Finished goods inventory at the end of 2013 was 10,000 units. On average, 25 percent of the futons to be sold in the next month are produced and kept as ending Fantastic Futons manufactures futons. How many futons are budgeted to be produced in Janua..
“24/7 accounting” means that a company is able to update revenue, income, and balance sheet numbers every day within a quarter and publish them on the Internet. Having the necessary accounting systems to close the books on a daily basis, and reliabil..
Determine the expected portfolio return, rp, for each of the 6 years. Evaluate the expected value of portfolio returns, rp, (line over the r) over the 6-year period
Compute the materials price and quantity variances for the month.- Compute the labor rate and efficiency variances for the month.
Compute each company's price-earnings ratio and price-to-sales ratio. Identify primary estimates or assumptions that could result in overstated earnings, and use the ratio data to compare quality of each company's earnings.
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