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Sage Learning Systems Inc. was organized on September 30, 2012. Projected selling and administrative expenses for each of the first three months of operations are as follows:
October $67,500
November 75,200
December 88,100
Depreciation, insurance, and property taxes represent $9,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. Sixty percent of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December.
bubble corporation manufactures two products i and ii from a joint process. a single production costs 4000 and results
Assume that this proposal is adopted, and that as a result sales in Store Q increase by $40,000. The new segment margin for Store Q should be:
A firm operated at 90% of capacity for the past year, during which fixed costs were $320,000, variable costs were 60% of sales, and sales were $1,000,000. Operating profit was:
in each of the following situations what is the amount of profit or loss? in each situation what account will be
John-Bob's share of losses from Partnership Z during 2010 was $60,000. How much is John-Bob at risk for Partnership Z on January 1, 2011?
Haig Aircraft is considering a project that has an up-front cost paid today at t = 0. The project will generate positive cash flows of $60,000 a year at the end of each of the next five years.
1.mehta company traded a used welding machine cost 12510 accumulated depreciation 4170 for office equipment with an
Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,000.
jbooth company produces a product that passes through an assembly process and a finishing process. all manufacturing
bowman company produces products c j and r from a joint production process. each product may be sold at split-off or
What is the difference between cash and accrual accounting? Which basis of accounting do most companies use, cash or accrual? Why? Which method is approved by GAAP? Why?
a. What is the average manufacturing cost per unit? b. What is the amount of ending finished goods inventory? c. What is the amount of gross margin?
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