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BULLOCK Inc. sells automatic weapons costing P 700,000 at a price of P 1,200,000. CARUSO Corp. buys a dozen of automatic weapons on installment and trade-in six of its old weapons at a trade-in value of P 300,000 each. BULLOCK spends P 25,000 to recondition the old guns and sells them for P 315,000. BULLOCK expects a 10 percent gross profit from the sale of used guns.
Problem 1: What is the over-allowance granted by BULLOCK on the trade-in transaction?
Balance in the allowance account after the adjustment of December 31. Expected net realizable value of the accounts receivable as of December 31.
Compute the fixed charge coverage ratio. Compute the times interest earned. Solvency ratios assess the long-term financial viability of a business
Calculate the amount of return you would earn if the $12,000 were invested for one year at 5%. Calculate the net amount of return you would earn if $3,000 were borrowed at a cost of 15%, and then $15,000 were invested for one year at 8%.
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities . Use the minus sign to indicate cash outflows, negative amounts or a decrease in cash.
question marina del rey manufacturing corp. uses a typical cost system that records raw materials at real cost records
Identify and critically discuss the various ways in which companies can access debt & equity finance. Also discuss the particular problems experienced
Advanced Diploma of Leadership and Management - Prepare a Profit and Loss Statements for Storm Steam Cleaning Services for the year ending 30 June
Discuss why and how the share market reacted and its implications for VW Group's share price following the company's media announcement of the emissions scandal.
What is the net cost of Machinery? Should the acquisition be made? Knab Corp.is considering acquiring Deerson Corp. for Php400,000.
During 2014, Victoria's Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days' inventory on hand. (Round to one decimal place.)
$8800 during the current year. Assuming a 32% tax rate, what will be the effect of this loss on comprehensive income? How much increase or decrease?
Assume that Ernesto purchased a laptop computer on July 10 of year 1 for $3,000. In year 1, 80 percent of his computer usage was for his business and 20 percent was for computer gaming with his friends.
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