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Question - Cyclone Co. uses the periodic inventory system and sells Mountain Bicycles. They had 50 bicycles in the beginning inventory on January 1 which cost them $800 per bike. They purchased 80 more bicycles on April 12 at a cost of $820 per bike. They purchased another 75 bikes on July 8 at a cost of $840 per bike. On September 22 they purchased another 90 bicycles at a unit cost of $850. During the year, 235 bicycles were sold at a price of $1,500 each. Other operating costs equaled $80,000 and their tax rate is 30%. What was ending inventory and cost of goods sold on 12/31 under the FIFO cost flow assumption?
on september 1 2011 fast track inc. was started with 30000 invested by the owners as contributed capital. on
The following table provides hypothetical balance sheet data for three firms NMG, HES, and MGMT. Using the CAPM, compute the required rate of return on equity capital for each firm. Project required income for Year +1 for each firm
1. on april 2 lana executed a contract to sell her office building to swanky realty inc. for 1000000. the transaction
Prepare the journal entries to record the above stock transactions - Prepare the stockholders' equity section of the balance sheet for Palmer Corporation
The preferred is $100 par, pays $3.50 a year dividend, and is convertible into three shares of common stock
Compute the EUP for direct material, direct labor, and overhead using weighted average process costing. Compute the EUP for direct material, direct labor, and overhead using FIFO process costing.
the city of springvale levies a tax on the value of real property located within the city limits. the tax equals 2
1.which of the following is an example of value-added time? processing time wait time during inspection wait time in
In addition, the company has fixed selling and administrative costs of $160,000 per year. What is the value of ending inventory using full costing
What is his gain or loss, How much is ordinary, How much is capital
Prepare and present the journal entry or entries to record the exchange. You need present only those entries that relate to Pittsburgh Company's accounting.
Sean Company Issued 10 Year bond with a par value of $800,000 on 1/1/07 for $900,000. Compute the gain or loss on the retirement of debt
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