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You have a sole-proprietorship merchandizingbusiness dealing with photography equipments. The business wasestablished 3 years back and had an average annual turnover of $50,000. However, over the last 6 months the monthly sales havefallen considerably. To reverse this downward slide you areconsidering selling the products on a credit basis of 15 days toall your regular customers. There are approximately 25-30 suchcustomers. In turn, you also plan to ask your vendors to increasethe credit period from 15 days to 25 days for all payments. Is buying or selling the products on credit basis a good decision ornot? Explain.
An alumnus donates securities to St. Aloysius College, a private college, and stipulates that the principal be held in perpetuity and income from the securities be used for faculty travel. Dividends received from the securities should be recognize..
A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gros..
Pardee Company plans to sell 12,000 units during the month of August. If the company has 2,500 units on hand at the start of the month, and plans to have 2,000 units on hand at the end of the month, how many units must be produced during the month..
equipment is purchased at a cost of 80000. as a result annual cash revenues will increase by 45000 annual cash expenses
1. the torrez corporation issue a 1000 10-year bonds 8 1000 bonds dated jan 12007 at 97. the journal entry to record
Conduct research on the selected securities (Ford and UPS) Analyze the organizations' 10K and investment reports, general economic data, and Federal Reserve data.
internal control elements vary in their design and application under the manual systems versus the electronic systems.
current assets end of year 8.2 billion beginning of year 7.3 billion.current liabilities end of year 8.4 billion
ridley company has a factory machine with a book value of 86400 and a remaining useful life of 6 years. a new machine
Computer Parts, Inc., a manufacturer of computer chips, employs activity-based costing. The following budgeted data for each of the activity cost pools is provided below for the year 2010.
On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104.
silbey inc. had accounts receivable of 200000 and an allowance for doubtful accounts of 8700 just before writing off as
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