Issac co sells merchandise
Issac Co sells merchandise on credit to Sonar Co in the amount of 9600. The invoice is dated on April 15 with terms of 1/15, net 45. If Sonar Co chooses not to take discount by when should the payment be made.
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The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units;
Discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. If an entity was perceived to be short term, what effect would that have on the accounting system?
The store had $3,000 of ski boots in inventory at the beginning of October, and expects to have $2,000 of ski boots in inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October
Selling hotdogs. During a typical month, the stand reports a profit of $9,000 with sales of $50,000, fixed costs of $21,000 and variable costs of $0.64 per hot dog.
The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2012 are as follows: January 1 finished goods, $765,000;
Consider the following costs for an automobile manufacturer, which have been classified as unit, batch, product, customer, or facility level.
Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units.
ABC has three operating divisions, Micro, Macro and Super. Their revenue, cost and activity information are as follows:
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