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Question
A company reports the following amounts at the end of the year: Total sales = $400,000; cash = $35,000; sales discounts = $10,000; accounts receivable = $20,000; sales returns = $15,000; operating expenses = $70,000; sales allowances = $25,000. Compute net revenues.
Answer
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$790
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b. Increase net income by $30,000.
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When using the equity method to account for an investment, cash dividends received by the investor from the investee should be recorded:
a. As a reduction in the Investments account.
b. As an increase in the Investments account.
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d. As a contra item to stockholders' equity.
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b. Future value of a single amount
c. Discount rate
d. Future value of an annuity
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h. Time value of money
i. Simple interest
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_____ A series of equal periodic payments.
_____ Accumulation of a series of equal payments.
_____ Interest earned on the initial investment and on previous interest.
_____ Accumulation of an amount with interest.
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$2,315 Total Liabilities
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790 Income Statement Data Sales
$786 Interest Expense
77 Tax Expense
32 Net Income
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23 Notes Payable (difference)
557.32 Cash (monthly payment) 704.55 (to record the second monthly payment)
Q:
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00 Notes Payable (difference)
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Q:
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