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Micron owns 3,000 shares of JVT. JVT has 25,000 total shares of stock outstanding. JVT paid $3 per share in cash dividends to its stockholders. Micron should record a:
A) Debit to Dividends for $75,000.
B) Debit to Dividends for $9,000.
C) Debit to Cash for $9,000.
D) Debit to Long-Term Investments for $9,000.
E) Credit to Long-Term Investments for $9,000.
A firm has annual credit sales of £5,000,000 and an average collection period of 52 days. What is its average debtors balance, assuming a 365 day year.
Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with res..
Why would you select the percentage of sales method for calculating doubtful accounts instead of the percentage of receivables method?
Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer. Which one of the following statements is correct?
Explain the advantages and disadvantages of each set of performance measures. How do they must design the organizational architecture to control the agency problems?
The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?
Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2012, it assigned, under guarantee, specific accounts amounting to $150,000.
A company recorded sales of $160,000 during march. management expects sales to increase 5% in april, 3% in may, adn 5% in june. cost of goods sold is expected to be 70% of sales. What is the budgeted gross profit for june?
Prepare a vertical analysis of the 2009 income statement data for Douglas Company and Maulder Company in columnar form. Comment on the relative profitability of the companies by computing the returnon assets and the return on common stockholders' eq..
Determine the predetermined overhead rate. Compute the total cost of the two ending inventories. Compute cost of goods sold for the year (assume no beginning inventories and no underapplied or overapplied overhead).
Calculate the firm's operating cycle. Calculate the firm's cash conversion cycle. Calculate the amount of resources needed to support the firm's cash conversion cycle. Discuss how management might be able to reduce the cash conversion cycle.
Sanilac County has a lease on a lawn mower for $2500 per month and $.02 per minute of operation. Operating costs for fuel, oil, technicians, and so on are all variable at $.03 per minute. Departments had projected a need for 100,000 minutes per mo..
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