sold is $590. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. Pocras Company: Accounts Receivable: Debit = $900‚ Credit = $900. Cost of Goods Sold: Debit = $590‚ Credit = $590. BE6-5: In its first month of operation‚ Moraine Company purchased 100 units of inventory for $6‚ then 200 units for $7‚ and finally 140 units for $8. At the end of the month‚ 180 units remained. Compute the amount of phantom profit that would result if the
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Memorandum To: Ms. Katryna Faith CC: Personal Budget‚ Balance Sheet and Statement of Cash Flows From: Ms. Shelle Avis Date: 5/12/2013 Re: Recommendations Confidential Ms. Katryna Faith is a 27 year old woman who currently works as a Customer Service Representative for Phoenix Associates. Ms. Faith also has a Bachelor’s in Accounting that she received last year and seeking her Master’s degree in the Accounting. She has no dependents but she does have a puppy. Ms. Faith wants to develop a
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of Accounting Instructor: Mark Stricklett November 10‚ 2014 Wal-Mart Financial Analysis Report In accounting there is much to be learned‚ about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements‚ which help accountants and the public grasp the overall financial condition of
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This document of ECO 561 Week 3 Discussion Question 4 contains: What market structure best characterizes the market in which University of Phoenix competes? How does this structure influence the university’s pricing strategy? How does University of Phoenix differentiate its product from that of its competitors? Has University of Phoenix erected nonprice barriers to entry in this market? Can University of Phoenix do more to create nonprice barriers to entry in this market? Economics -
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1. Based on historical data‚ you have estimated the following probability distributions for the returns on two individual securities (SMALL and BIG) and the value-weighted market portfolio: State probability Small Big Market Expansion 0.30 25% 8% 12% Normal 0.5 15% 6% 10% Recession 0.20 0% 2% 3% a) Calculate the expected return and standard deviation of return for Small‚ Big and the market portfolio b) Calculate the covariance between Small and Big; between Small
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in-process restructuring charges‚ large acquisition write offs‚ and research and development. 3. Direction on qualitative key points in determining materiality in accounting measurements 4. Interpretive guidance for revenue recognition 5. Prompt resolution to the Financial Accounting Standards Boards definition of liabilities issues 6. Targeted reviews of any public company that announces restructuring liability reserves‚ has any major
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in cash the realizable value when uncollected estimates are accounted for in the adjusting entry. A write off for the uncollectible accounts will reduce both the accounts receivable and allowance for doubtful accounts to make them even. Exercise E8-5 a) Determine the total estimated uncollectible. |Age of Accounts |Amount |Estimated Percentage |Estimated | | | |Uncollectable |Uncollectable | |Current
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Week 5 Learning Team Collaborative Discussion: Leadership Theory Analysis Team A: Michele Corsentino‚ James Long‚ Danielle Jones‚ Amanda Nelson‚ Brian Williams MGT/230 5/11/2015 Kathleen Dominick Leadership Theory Analysis After Team A reviewed and discussed Fiedler’s Contingency Model‚ we agreed that the roles and responsibilities of task- motivated and relationship motivated leaders seem very similar. This theory is based on the idea that leaders cannot change their style of leadership
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This work of ECO 561 Week 1 Discussion Question 1 comprises: Different products have different elasticities. Heart medication‚ for example‚ is inelastic and corn is elastic. All firms can increase the volume of goods or services sold by cutting prices; however‚ elastic products are much more price sensitive than inelastic products. Find a product that has not already been selected and describe the price elasticity. How much control might an organization have over pricing based on a product
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Tootsie Roll Industries Inc. Loan Package ACC/561 - Accounting August 15‚ 2011 Tootsie Roll Industries Inc. Loan Package Since the company’s establishment in 1896‚ Tootsie Roll Industries Inc. has expanded to become one of the biggest candy companies in the United States. Tootsie Roll Industries Inc. is one of America’s most recognized candy companies through manufacturing and selling some of the most popular candies in the world. The company has an extensive amount of products sold in
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