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3.After the amount due on a sale of $42,900, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment. The cost of the merchandise returned was $25,740. a. What is the amount of the refund owed to the customer? b. Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank.
Foster Inc. purchased a truck by paying $5,000 and borrowing the remaining $25,000 required to complete the transaction. Explain briefly how this transaction affects the company's basic accounting equation?
If company is optimistic about its China venture, and anticipates continued investment and growth, are restrictions on capital outflows from China a problem? Particularly if the source of funds are from China?
Analyze overall process of accounting for insolvencies and make at least one recommendation for improving current practices. Provide specific examples of how your recommendation would be an improvement.
Evaluates the amount of materials handling overhead cost that should be allocated to the company's two products.
Determine the total depreciation to be taken over the useful life of the delivery truck for both book and tax purposes. Explain why depreciation for book and tax purposes will generally be different over the useful life of a depreciable asset.
the auditor must have an adequate understanding of what an internal control system is. List the five components of an internal control system and the importance of each.
Determine the direct materials price and efficiency variances for Shirt Company. Evaluate the direct labor price and efficiency variances for Shirt Company.
Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio.
the only other debt outstanding during the year was a $1,000,000, 10-year, 9% note payable dated January 1, 2006. What is amount of interest that should be capitalized by Bass during 2012?
Since you still own General Motors and General Electric, could these be reclassified to long-term securities?
Multiple choice questions related to ratio analysis and quick ratio is considered more useful than the current ratio
Difference between GAAP used in financial statements and government regulation and Show the difference between GAAP being used in financial statements and government regulations being used in financial statements.
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