Grain company and the break-even point
The contribution margin ratio is 25% for Grain Company and the break-even point in sales is $194,800. To obtain a target net operating income of $83,000, sales would have to be?
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Listed below are six assertions regarding the financial presentations made in the revenue process. For each, give an example of how an auditor could use one of the types of documents contained in the revenue process to test the assertion.
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Last year the sales at Jersey Company were $190,000 and were all cash sales. The expenses at Jersey were $104,000 and were all cash expenses. The tax rate was 31%. The after-tax net cash inflow at Jersey last year from these operations was?
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