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Wrecker Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $2,900). The sales tax law requires Wrecker to collect 4% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 4% tax on this sale to the state government on October 15.
The bonds were sold for 833,760 to yield 12%. Wallace uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2010?
Discuss and interpret the changes over the two-year period and how is this information useful from a managerial perspective?
Evaluate the length of the firm's cash conversion cycle and Cash Conversion cycle Based On Balance Sheet
The expansion will cost two million dollars, and is expected to increase operating earnings to $2,100,000. What factors should Turner’s manager and her supervisor, the VP of operations, consider in deciding whether to go forward with the expansion..
If the supply curve of pens is . What is the price elasticity of demand at equilibrium? What is the cross-price elasticity for pencils at equilibrium? What is the income elasticity of demand at equilibrium?
What would be average fixed inspection cost per unit at an activity level of 6,600 units in a month? Assume that this level of activity is within the relevant range.
What is the appropriate balance for the Allowance for Doubtful Accounts at year-end and show how accounts receivable would be presented on the balance sheet.
Compute the annual depreciation and carrying value for the new crane for each of the six years (round to the nearest dollar where necessary) under the double declining method. Round all intermediate percentage calculations to two decimal places.
Prepare all of Delta's journal entries for the above transactions. Delta uses a periodic inventory system and calculate Delta's net purchases
Evaluate the weighted-average number of shares to be used in computing earnings per share for 2013 and amortization was recorded when interest was received by straight-line method
direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000; and purchase of securities $14,000. Aaron wants to maintain a balance of at least $25,000 cash at the end of each quarter. For first quarter p ..
The November direct labor budget indicates that 5,400 direct labor-hours will be required in that month. Determine the cash disbursement for manufacturing overhead for November.
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