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Question - Berman & Jaccor Corporation's current sales and partial balance sheet are shown below.
This year
Sales $1,000
Balance Sheet: Assets Cash $200
Short-term investments $100
Accounts receivable $200
Inventories $300
Total current assets $800
Net fixed assets $450
Total assets $1,250
Sales are expected to grow by 8% next year.
Assuming no change in operations from this year to next year, what are the projected total operating assets? Do not round intermediate calculations. Round your answer to the nearest dollar.
Harwell Company manufactures automobile tires. On July 15, 2016, the company sold 1,700 tires to the Nixon Car Company for $35 each. The terms of the sale were 3/15, n/30. Harwell uses the gross method of accounting for cash discounts. Prepare the jo..
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A company sold a piece of manufacturing equipment for $30,000 cash. The equipment had been listed on the balance sheet at a net book value of $25,000, so the company recorded a gain on sale of equipment of $5,000. Which of the following items would b..
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