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Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the margin of safety percentage is 45%, 55%, 64%, none of these
A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644
what is Prepaid expense ?
Q. Explain about Percentage of completion method? The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To ca
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi
Q. What do you mean by partnership? A partnership is a non-incorporated business owned by two or more persons associated as partners. Habitually the same persons who own the bu
Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and reque
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
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