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Question - In providing accounting services to small businesses, you encounter the following independent situations:
1. Sainsbury rang up $12,000 of sales, plus HST of 13%, on its cash register on April 10.
2. Montgomery rang up $31,200 of sales, before sales taxes, on its cash register on April 21. The company charges 5% GST and no PST.
3. Winslow charges 5% GST and 7% PST on all sales. On April 27, the company collected $27,500 sales in cash plus sales taxes.
Required - Record the sales transactions and related taxes for each client.
You are given the following cash flows for a project. Use a discount rate of 7.8% where applicable. Calculate the Discounted Payback Period
They sold 83,000 units for $65 each during the year, and produced 92,000 units. What is the ending finished goods inventory under variable costing
Using a costminus-plus approach, what price should Philadelphia Swim Club charge for a membership
For the period 2017 to 2019, the corporation reported profit of P900,000 and paid cash dividends of P 460,000. Compute Total Shareholders Equity on December
Monty Corporation is considering purchasing a new delivery truck. Compute the cash payback period and net present value of the proposed investment
In order to determine program effectiveness and in order to make preschool assessment policy decisions, children, teacher and school are increasingly measured through standardized achievement tests (Decker, 2009).
What was the average issue price of each preferred stock, Compute the amount of cash dividends paid during the current year
During the 2019 - 2010 financial year, Canola Ltd sold inventory to Palm Ltd for $1,000,000. Prepare the journal entries required
Orders are received by the sales office through the mail from customers. Indicate weaknesses in internal control over the existing sales ordering system
Christy General Hospital, a not for profit organization, accounts for its activities using a General Fund ( GF), and three restricted fund groups, Specific Purpose Funds ( SPF), Endowment Funds ( EF), and Plant Replacement and Expansion Funds ( PR..
The costs in BWIP are $2,500, and the costs added in June are $50,000. Calculate the unit cost under FIFO
Calculate the size of the month-end deposits. Helen made periodic deposits into a savings account at the end of every month for 4 years.
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