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Question - Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and were subject to a 3.5% credit card company collection fee. Alpha Company collected payment from Worldwide Express on July 21. What amounts should be recorded for the following accounts for the July 21 collection?
Suppose that the hospital achieves 225,000 patient-days but that 25% of the patient-days were self-pay (instead of 20%). Calculate the net income.
To decrease the cost of operating a lock in a large river, a new system of operation is proposed. The system will cost $830,000 to design and build.
Based on the following information, determine the current assets, assuming all accounts have a normal balance?
Astro Co. sold 20,900 units of its only product and incurred a $71,860 loss (ignoring taxes) for the current year as shown here. During a planning session for year 2014’s activities, the production manager notes that variable costs can be reduced 40%..
Watkins Company had the following production for the month: Using the weighted-average method, the equivalent units for the month, with respect to conversion cost, were: Assume that the spoilage for the month included abnormal spoilage of 1,000 units..
Compute the bond interest expense for the first six months of 2012, using the interest method. Show how the $1,400,605 price must have been determined.
The most serious slave rebellion in the the colonial period; inspired in part by Spanish officials' promise of freedom for American slaves who escaped to Florida.Historical Significance:Led to the Negro Act of 1740 prohibiting slaves from growing the..
As the comptroller of a hospital, you were just informed that one of the surgeons failed to remove an instrument from a patient's innards. The hospital is certain to be sued. How should this information affect the hospital's financial statements?
Demonstrate using separate equations for MOS% and DOL that MOS% and DOL are functionally related. Spherically show that MOS%=1 / DOL
On January 1, 2015, Carter Sales issued $15,000 in bonds for $15,800. They were 8-year bonds with a stated rate of 9%, and pay semi annual interest. Carter Sales uses the straight-line method to amortize the bond premium. On June 30, 2015, when Carte..
The following schedule indicates selected amounts from a city's preclosing 2018 and post closing 2017 general fund trial balances: 2018 2017. Assume the the city uses consumption method to account for supplies. Assume instead that the city uses the p..
Prior to liquidating their partnership, Short and Bain had capital accounts of $18,000 and $73,000, respectively. The partnership assets were sold for $35,000. The partnership had no liabilities. Short and Bain share income and losses equally. Determ..
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