Compute sales taxes payable, and make the entry
Hibbett company does not segregate sales and sales taxes on its cash register. its register total for the month is $259,700, which incluses 6% sales tax.compute sales taxes payable, and make the entry to record sales and sales taxes payable.
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Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit?
The equipment has an estimated economic life of seven years and has zero residual value at the end of this time. Straight-line depreciation is used for similar assets.
Prepare the net cash flow from operating activities section of the 2010 statement of cash flows for the Hyde Company.
Franco and Elisa share income equally. During the current year the partnership net income was $40,000. Franco made withdrawals of $12,000 and Elisa made withdrawals of $17,000.
Calculate the minimum transfer price the accessory division should charge the apparel division if the accessory division does not have excess capacity and they do not wish to incur additional losses if they sell to the apparel division.
Prepare the current liability section of Kingery Sales Company's balance sheet, assuming $20,000 of the mortgage is payable next year.
Mahim Products has a division that generated $10,000,000 in sales and operating income of $1,700,000 on average operating assets of $6,000,000.
Kauf Industries has just completed its sales forecasts and its marketing department estimates that the company will sell 36,000 units during the upcoming year.
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