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During its fiscal year ended June 30, 2011, Cliff City issued purchase orders totaling $5,000,000, which were properly charged to Encumbrances at that time. Cliff received goods and related invoices at the encumbered amounts totaling $4,500,000 before year-end.
The remaining goods of $500,000 were not received until after year-end. Cliff paid $4,200,000 of the invoices received during the year.
What amount of Cliff's encumbrances were outstanding at June 30, 2011?
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Jack is a director at XYZ Corporation. XYZ is in the real estate development business. During a recent Board of Directors meeting he was made aware of XYZ’s plan to purchase a lot to build a luxury hotel. The lot is located in Quaktown, PA. Jack thin..
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Determine the estimated break-even point in annual unit sales of the new product if Martinez Company uses the: Capital-intensive manufacturing technique.
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