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Question - Stargazer Co. have two items that are under evaluation for possible year-end adjustments. (1) Purchase with supplier invoice dated Dec. 30, 2020 - P120,000. This was shipped FOB shipping point, freight prepaid. Freight costs P5,000. The purchase was recorded but the freight was not. (2) A purchase return of P20,000 was made but not recorded. If the correct ending inventory is P200,000 and the cost of goods sold before adjustments is P5,000,000, what is the correct cost of goods available for sale?
Aero Company has implemented a gain sharing compensation plan for its production employees
According to the standard cost card, each helmet should require 0.59 kilograms of plastic, at a cost of $7.00 per kilogram. What is materials spending variance
Discuss the proper accounting treatment of the $273,000 ($714,000 - $441,000) by which the cost of the first machine exceeded the cost of the subsequent machines.
Ignoring employment and self-employment taxes, how much would Emmy keep after taxes if PRK paid Emmy an annual salary of $6,000
Explain in your own words what the term cash equivalents means and provide two examples to illustrate your explanation
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The consolidated statement of earnings of Anonymous Corporation for the year ended December 31, 2007, is as follows:
Neil attended 11 MCA dinner meetings in 2016. Each dinner involved the following costs: $40 (fee for speaker), $25 (price of meal), and $10 (parking).
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What will a deposit of $4,500 at 10% compounded semi-annually be worth if left in the bank for six years. How long does it take for $5,000 to grow into $6,724.44 at 10% compounded quarterly. How much must you deposit at the end of each year in an acc..
On 1 April 1987 Jenna bought 2 000 shares in ABC Ltd for $4.25 per share. Calculate Jenna's capital gains on the sale of her shares for 2015/16
Indicate the division of net income to each partner, and prepare the entry to distribute the net income.
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