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1. Gross Profit Method Castlevania Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the following.
Beginning inventory $170,000 Sales $650,000Purchases for the year 450,000 Sales returns 24,000Purchase returns 30,000 Rate of gross margin on net sales 30%Merchandise with a selling price of $21,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $15,000 had a net realizable value of $5,300.Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage.
bartels corp. produces woodcarvings. it takes 2 hours of direct labor to produce a carving. bartels standard labor cost
The current carrying value of Pierce's $600,000 face value bonds is $597,750. If the bonds are retired at 102, what would be the amount Pierce would pay its bondholders?
Journalize the formation of the partnership and Prepare an income distribution worksheet - Journalize the closing of the income summary accounts to the capital accounts.
hbr delicatessen sells specialty sandwiches. currently their equipment can produce 60 sandwiches per hour with a fixed
using the appropriate interest table answer the following questions. each case is independent of the others.a what is
grider industries inc. issued 6000000 of 8 debentures on may 1 2010 and received cash totaling 5323577. the bonds pay
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1. Which of the following statements are true? If false, explain briefly. a) Using an alpha level of 0.05, a P-value of 0.04 results in rejecting the null hypothesis. b) The alpha level depends on the sample size.
tern corporation a cash basis taxpayer has taxable income of 500000 for the current year. tern elected 100000 of sect
for 2013 fielder corporation reported net income of 30000 net sales 400000 and average common stock shares outstanding
rogers company has total fixed costs of 112000. its product sells for 35 per unit and variable costs amount to 25 per
LBJ Company recorded the following events involving a recent purchase of merchandise. In periods of rising prices, which of the following inventory methods results in the highest gross profit figure?
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