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Kern Company sells merchandise on account for $8,000 to Block Company with credit terms of 2/10, n/30. Block Company returns $1,600 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $60,000, terms 2/10, n/30. Returned $1,200 of the shipment for credit. Paid $300 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by Financial information is presented below: Operating Expenses $ 90,000 Sales Returns and Allowances 26,000 Sales Discounts 12,000 Sales 300,000 Cost of Goods Sold 158,000 Gross profit would be During August, 2014, Baxter's Supply Store generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter's operating income for the month of August, 2014 is
Chev Corporation, a calendar year corporation, has alternative minimum taxable income (before any exemption) of $1.28 million for 2008. The company is not a small corporation. If the regular corporate tax is $209,000, Chev's alternative minimum ta..
The purchase of Truffles Inc. will require an investment of $800,000 and with the synergy between the two companies will increase the Boxed Candy Division's operating income by $76,000. The residual income for the Boxed Candy Division after the pu..
dayton lighting company had net income for the first 10 months of the current year of 200000. one hundred thousand
What is Omega's charitable contributions deduction for the current year and its charitable contributions carryover to next year, if any?
Providing language and cultural training for employees is big business. If you were going to write a class on how language affects intercultural business communications, what would your lesson plan look like?
Scruffy Murphy is the president and principal stockholder of Scruffy's Bar and Grill Inc. To expand the business, the corporation is applying for a $250,000 bank loan. To increase the chance of getting the loan, Murphy is considering two opti..
on january 1 2014 offshore corporation erected a drilling platform at a cost of 5420142. offshore is legally required
Jenco Incorporated's only product is a combination fertilizer-weed killer called Fertikil. Fertikil is sold nationwide through normal marketing channels to retail nurseries and garden stores.
What are the 6 principles in the AICPA's CPC and the purpose of each principle?
georgia inc. and florida company both sell the same kinds of products. sales and expenses for each company
Which of the following is not a difference between financial accounting and managerial accounting?
John's specialty store uses a perpetua; inventory system. The following are some inventory transactions for month of May 2009: 1. John's purchased merchandise on account for $5,000.
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