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Question - GHI Company established a sales agency in a different location. Upon the establishment of the sales agency, the home office sent merchandise samples costing P10,000 and a cash working fund of P50,000 to be maintained on the imprest basis. During the month of June, the sales agency reported to the home office sales orders. These were billed at P170,000, of which half was collected. The sales agency paid expenses of P45,800 but was reimbursed by the home office. At the end of the month there was no samples left. It was estimated that the gross profit on goods shipped to fill sales agency sales orders averaged 60% of sales. What is the net income of the sales agency for the current month?
the quick brick shop had an unfavorable sales price variance of 150. the budgeted selling price was 10 per unit and 50
Which statements is true regarding fixed and variable costs? Variables costs are constant in total, and fixed costs are constant per unit.
by using long-term financing to finance part of temporary current assets a firm may have less risk but lower returns
If Hunter Corporation commits to paying a total $450,000, what is the total dividend payment to preferred shareholders
Suppose the company has the opportunity to buy an additional 9 pounds of sugar (2nd ressource) at a total cost of 350AED. Should they? Explain.
Calculate A Inc.'s gross profit percentage for 2020. Accounts receivable 10000. Cost of sales 318000. Net income 90000. Sales 1940000
Calculate the effect of realized and unrealized gains and losses associated with the Donald bonds and the Watson stock on Feherty's net income
Charlie Brown, controller for the Kelly Corporation, is preparing the company's income statement at year-end. He notes that the company lost a considerable sum on the sale of some equipment it had decided to replace.
1. The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet (work sheet). Indicate whether each balance should be extended to (a) an Income Statement column or (b) a Balance Sheet co..
on january 1 2010 ruby company purchased a piece of equipment with a list price of 60000. the following amounts were
During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?
Journalize the transactions. Determine the amount to be reported as an investment in Connorsstock at December 31.
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