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problem 1: Besoluck company has sales of P480,000 and P450,000 for September and October respectively. Of the total Sales, 75% are on account. In addition, 1% of credit sales are returned and 20% of credit customers avail of a 2% discount. The company is able to collect 40% of credit sales in the month of sales and 60% is collected in the following month. During October, the company has written off P20,000 of worthless accounts but had collected P13,000 from an account previously written off. The company uses, 10% percent of receivables for estimating doubtful accounts. What amount is debited to doubtful accounts expense if the balance of the allowance for doubtful accounts on Oct 1 is P7,350.50?
Calculate the net benefit (cost) to HP of outsourcing the component from Samina-SCI. Use a negative sign with your answer, if appropriate.
How much of the above-cited amounts should be recognized as revenue expenditure? Import charges on merchandise purchased at FOB shipping point, P 6,500
Joanne Quick made an investment of $10,271.38. What rate of Interest wlll Jeanne's investment be earning for her
Analyze the balance sheet and income statement of the company that you have selected, and outline your method for evidence collection which should include.
Include an attention getting title. Introduce the social issue you have selected. Explain to your audience why this issue is important.
The balance was still within the cancellation period. Determine how much revenue Beach Life would be able to recognize in 2020
on january 1 2012 graham company purchased a new machine for 2800000. the new machine has an estimated useful life of
Swan Corporation makes a property distribution on 12/31/16 to its sole shareholder, Matthew. What is Swan's taxable gain on the distribution of the cottage
Next to the following list of eight characteristics of business organizations, enter a brief description of how each characteristic applies to general partnerships.
Prepare the journal entries required on February 28, 2011, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for Selkirk. Assume that the discounting is accounted for as a sale.
The organization declared a 36% stock dividend. Prepare the journal entry to record the declaration and distribution (on November 1, 2020) of the dividend
What amount of equity method income would Matthew recognize in 2018 from its ownership interest in Lindman
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