The company should continue to use sales
Based on the date in (1) through (4) above, make a recommendation as to whether the company should continue to use sales agents (at a 20% commssion rate) or employ its own sales force. Give reasons for your answer.
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On March 31, 2010, Willie market issued 150,000 worth 8% ten year bonds when the market rate was 8%. Proceeds were 140,000. The interest is paid annually on March, 31.
Determine the volume of sales at which net income would be equal regardless of whether Pittman Company sells through agetnts (at a 20% commission rate) or employs its own sales force.
Compute the degree of operating leverage that the company would expect to have on December 31 at the end of next year assuming.
On September 30, 2010 lanter Co. issued 100,000 worth of 5 year 9% bonds when the market rate was 8%. The proceeds were 104,000. The interest is paid annually on September 30th.
Noe Company has hundreds of owners located throughout the country. Once a month, Noe seds financial statements to its owners. these statements report the result of the operation as measured in dollars.
Poco, reports $400,000 of pretax book net income in 2011. Poco did not deduct any bad debt expense for book purposes but did deduct $20,000 in bad debt expense for tax purposes.
Collins and Farina are forming a partnership. Collins is investing a building that has a market value of $93,000. However, the building carries a $43,000 mortgage that will be assumed by the partnership.
Prepare journal entries for the following (assume a calendar-year accounting period):Dec. 1 Received a three-month, 15 percent note receivable for $4,640 from a customer as an extension of his past-due account.
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