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How do I determine the contribution-margin ratio? I have been given the sales, cost of goods sold, gross margin, selling and admin expenses (that include commissions and all other fixed expenses), income before taxes, income tax, and net income.
Accounting Basics, Accounting
Question - As the senior accountant you had just prepared & posted the journal entry that closed the revenue accounts to the income summary account. Suddenly you noticed that your bookkeeper made a tragic error in record ...
Question - Flounder Company recently signed a lease for a new office building, for a lease period of 12 years. Under the lease agreement, a security deposit of $12,890 is made, with the deposit to be returned at the expi ...
Question - Vela Enterprises Inc. would like to prepare summary cash budget for March. The following information is available: The cash balance at 1 March was estimated to be $8 000. March sales, all on account, were esti ...
Question - HORNGREN'S Financial & Managerial Accounting Preparing the statement of cash flows-indirect method Accountants for Carlson, Inc. have assembled the following data for the year ended December 31, 2016: 2016 201 ...
Question: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The The cost that is reported as an expense when merchandise is sold.cost of the merchandise sold is $188,000. What is the ...
Question: In this assignment, you will write an executive summary analyzing the exchange risks, country risks, and political risks the company executive team needs to be aware of in building a manufacturing facility in B ...
Question - Sometimes a temporary difference will produce future deductible amounts. Explain what is meant by future deductible amounts. Describe at least one situation that has this effect. How are future deductible amou ...
Question - Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $6 $1,224 June 12 Purchase 408 7 2,856 June 23 Purchase 306 8 2,448 June 30 Inventory ...
Assignment - You have been recently employed as an accountant for the Platinum Manufacturing Group. The CEO, Ms James, has tasked you with reviewing their system for the purchase, receipt, storage and issuance of raw mat ...
Question - Alpha Corp. had $15,000 of dividends in arrears, for cumulative, non-participating preferred stock as of January 1, 2018.This value of dividends in arrears was for the fiscal years of 2016 & 2017. During the f ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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