Dunbar company purchase
On January 4, 2010 Dunbar Company purchased, on credit, 2,000 television sets at $500 each. Terms of the purchase were 2/10, n/30. Dunbar paid for 20% of these sets on January 13 and the remaining 80% on February 1.
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A building acquired at the beginning of the year at a cost of $485,000 has an estimated residual value of $75,000 and an estimated useful life of 25 years. Determine (a) the depreciable cost, (b) the straight-line rate, and (c) the annual straight
At the end of the current year, Accounts Receivable has a balance of $1,400,000; Allowance for Doubtful Accounts has a debit balance of $2,250; and net sales for the year total $9,500,000. Bad debt expense is estimated at 1/4 of 1% of net sales.
Prepare the journal entries on the books of Luv company-the lessee-for recording the lease and the recording of lease payment and expenses for 2011.
On financial basis alone, should Z Pty Ltd choose to purchase items from X Pty Ltd or continue to manufacture them (capacity used to make items will become idle)
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On December 1, 2010, Lester Company issued at 103, two hundred of its 9%, $1,000 bonds. Attached to each bond was one detachable stock warrant entitling the holder to purchase 10 shares of Lester's common stock. On December 1, 2010, the market val
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