Future receipt discounted at an interest rate
Swanson Company will receiv $100,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $63,017. In how many years is the $100,000 received?
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Blackstone Company uses a periodic inventory system. It had beginning inventory of $100,000, purchases of $1,300,000, and ending inventory of $125,000. What was Blackstone"s cost of goods sold?
The present value of these cash flows, discounted at Harrel"s market interest rate, is $2,800,000. At what amount should the patent be carried on the December 31, 2011 balance sheet?
Use the retail inventory method to estimate the company's year-end inventory.
The current ratio in the company, for which you are a financial analyst, is 3 to 1. The average for other firms in the industry is 1.6 to 1. Management has asked you to evaluate the company's ratio, and explain why it is nearly twice the industry'
Any underapplied or overapplied overhead cost is closed to Cost of Goods Sold at the end of the month. During August, the following transactions were recorded by the company: The Cost of Goods Manufactured for August was:
The joint IASB/FASB qualitative characteristics Exposure Draft identifies a logical order in which to evaluate the qualities. That order (first, second, third) is:
When reconciling its accounts, Ajax Company found the accounts receivable general ledger account had a balance of $30,000, and the accounts receivable subsidiary ledger account balances totaled $28,000. The most likely reason for this difference w
Marge Company has all of the special journals that were described in your text (other than the voucher register) as a part of its accounting system. Which of the following journal entries would therefore be recorded in Marge's general journal?
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