Net sales Cost of goods sold Beginning inventory $ 180,000 124,000 41,000

Q: True or False questions J. In llinois, 25% of the 6.25% state sales tax is remitted back to cities,…

A: Sales tax is the tax which is collected by the government of the products which are sold. This is…

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A: Net interest margin is a net income of bank that is earned from credit products such as loan.

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A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: 5. Prepare the following bank reconciliation Balance per bank statement, Oct. 31 $10,360 Cash…

A: Check error=$152-$125=$27

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A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Suppose that you need to take out a loan today and anticipate being able to pay back $50,000 sixteen…

A: Let the loan amount = X Amount to payback (A) = $50000 n = 16 years

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A: Stocks are the company’s securities which are issued by the companies to raise the funds. Stock…

Q: A ledger is where the initial record of a day's transactions is entered. True or False

A: solution concept Journal : Journal is the book where the transactions are initially entered Ledger :…

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A: Respondeat Superior seems to be a common-law doctrine that holds an employer accountable for an…

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A: Financial statements are those reports and statements that are prepared at the end of accounting…

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A: Calculation of present value:- Present value is $ 2,294.12   EXPLANATION:- Annual payment(given)…

Q: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the…

A: Solution..   Units completed and transferred out. =Beginning inventory +  Units started in - ending…

Q: market capitalization is higher, lower, equal to total shareholders' equity

A: Market capitalization is computed by multiplying the current market price of the shares with the…

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A: Introduction:- Mr Ameer needs to prepare bookkeepinn and accounting so he hired accouting services…

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A: Inventory - Inventory is the current assets held by the company in the ordinary course of business.…

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A: The question is based on the concept of Cost Accounting. The actual and expected direct material…

Q: Dreckman Corporation is a service company that measures its output by the number of customers…

A: Fixed expenses do not change with the change in the level of production or sales volume. These…

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A: Owner equity means the amount that belong to the owner of the business.  Any profit will increase…

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A: Comparative income statement shows comparison of incomes and expenses between two periods.

Q: amount Sunrise Industries must invest each year

A: An annuity is an equal amount that is either deposited or withdrawn at equal interval of time over a…

Q: nensiv er indi

A: 2020 2021 Total shareholder's equity $76,526 $40,962 Retained earnings $2,523 -$35,564

Q: How can diversification reduce risks? Give examples from the rea world

A: Diversification is the process of managing risk which mixes the individual investments in a…

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A: Average rate of return = Average annual income / Average investment Where  Average investment =…

Q: Membership in the AICPA:

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A: b)Journal Entries (FIFO) - 2. Journal Entries (LIFO) -

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A: SOLUTION- PARTIAL BALANCE SHEET IS A FINANCIAL INSTRUMENT THAT IS USE TO VISUALIZE THE LIST OF TOTAL…

Q: 1. What are the three factors that contribute to fraud?

A: An act of making illegal profits by concealing the material information or untrue representation of…