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Point 1: On january 1 2018 the merchandise inventory of glaus inc was 1200000, during 2018 glaus purchased 2400000 of merchandise and recorded sales of 3000000. the gross profit rate on these sales was 25%.
Question 1: What is the total goods available for sale for glaus at december 31, 2018?
Question 2: What is the COGS at December 31, 2018?
Compute the degree of operating leverage for each company. Assume that sales revenue decreases by 20%. Prepare a CVP income statement for each company.
Requires assets to be recorded at historical cost-cash paid plus the current dollar value of all none cash considerations given on the date of the exchange.
The balance in accounts receivable at the beginning of 2016 was $300. During 2016, $1,600 of credit sales were recorded. If the ending balance in accounts receivable was $250 and $100 in accounts receivable were written off during the year, the amoun..
Davies Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is net cost of the goods if Davies Company pays within the discount period?
1,500 Memberships were sold to the public in the amount of $40 each. Membership provides the individual with a monthly magazine and other benefits. The estimated fair value of member benefits is $25. The member year runs from July 1 to June 30.
Ticket sales are “booked” over the internet and an entry is made debiting a receivable account (from the credit card) and crediting sales. When a ticket is canceled, the only entry made is to a database that maintains specific seat availability. Is ..
Prepare the statement of cash flows with a total column for the three-year period. (Do not include reconciliation of net income to net cash provided by operating activities).
What kind of information would be found on the financial statements? Explain how the users of these statements could use the information to help make better informed decisions.
What is the total of budgeted cash collections for December? How much is the book value of accounts receivable at the end of December? How much is the income (loss) before income taxes for December? What is the projected balance in inventory on Decem..
Compute the present value of the receivable on Boeing's books on January 1, 2009, immediately after receiving the $10 million down payment.
Seymour Group issued $4,000,000 of 15 year 8% stated rate bonds on July 1, 2014 to yield 10%, which is similar to the current market rate for bonds of similar riskiness. The bonds are semi-annual and the first interest payment is December 31, 2014.
The investment will earn 6% compounded annually. At the end of five years, she will need a total of $40,000 accumulated. Explain how should she compute her required annual invest-ment?
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