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Q. Show Earnings per share?
Earnings per-share amounts are based upon the weighted average number of common as well as common equivalent shares outstanding during the year. Common equivalent shares are debarred from the computation in periods in which they have an ant dilutive effect.
As you proceed through the remaining chapters you are able to see the accounting theories introduced in this chapter being applied. In section 6 for instance we discuss why sales revenue is recognized and recorded only after goods have been delivered to the customer. So far, we have used service companies to illustrate accounting techniques. Section 6 introduces merchandising operations. Merchandising companies such like clothing stores buy goods in their finished form and sell them to customers.
Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Be
Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned
Q. Illustrate lower-of-cost-or-market method? Procter & Gamble markets a broad range of paper, cleaning, beauty care, health care, food, laundry and beverage products around th
What is Merchandise returns A Return is when a customer returns to the seller part or all items purchased. An Allowance occurs when seller grants a customer a price reductio
Q. Explain about business entity concept? A business entity perhaps made up of several different legal entities. For example a large business such as General Motors Corporation
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
1. Listed below are account balances taken from the adjusted trial balance of XYZ Inc. as of December 31, 2012. Credit Account
Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the ma
Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
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