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JC manufacturing purchased inventory for $5,300 and also paid a $260 freight bill. JC Manufacturing returned 45% of the goods to the seller and later took a 2% purchase discount. What is JC Manufacturing's cost of the inventory that is kept? (Round tot the nearest whole number).
Additional Processing Decision. Data Point, Inc. has decided to discontinue manufacturing its Quantum model personal organizer. Currently the company has a number of partially completed personal organizers on hand. Determine whether Data Point, Inc.,..
(Bond issued at face value) Green Tea issued $300,000 of 10% bonds on January 1, 2015. The bonds are due January 1, 2020, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Green Tea’s journal entries for (a)..
Locate Note 35 in BA's financial statements. What three items comprise “Other reserves” as reported in the balance sheet? If British Airways used U.S. GAAP, illustrate what would be the likely account titles for the three items?
Delmar Corporation is considering the use of residual income as a measure of the performance of its divisions. What major disadvantage of this method should the company consider before deciding to institute it?
The Columbus Company has three departments A,B, and C. Material requisitions amounted to $10,000, 8000, and 5000, respectively, for departments A, B and C. In addition $2000 of indirect materials were used during the period. What is the entry to reco..
Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. Assume an interest rate of 8% properly reflects the time value of money in this s..
On July 1, 2017, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,200,000. The county estimated that 5 percent of the taxes levied would be uncollectible. As of April 30, 2018, the due date for all property ..
Each bond will include 20 warrants that give the holder to purchase one share of stock per warrant.
Declared a $0.80 per share dividend on the common stock (100,000 shares issued, 92,000 shares outstanding). The date of record is January 31, and the payment due date is February 15.
Companies often are under pressure to meet or beat Wall Street earnings projections in order to increase stock prices and also to increase the value of stock options. Some resort to earnings management practices to artificially create desired results..
maggie lost her job in the current year. She paid the expenses of owning aher home, interest on the mortgage, and property taxes out of savings. Her tax return shows negative taxable income of $20000. how should this loss be treated?
They are expecting $920 in reductions. If their inventory starts the month at $3,600 and ends the month at $5,200 what are the planned purchases for the month of April?
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