Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $52,200 with terms 3/15, n/45. On June 12, 2017, Crane received full payment for the June 1 sale.

1. Prepare the required journal entries for Crane Co.

Which of the following is a reason people could be concerned about mergers? A. Small businesses hire more people than large businesses. B. Mergers can reduce competition. C. Large businesses can offer lower prices. D.

Would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct laborhours, rather than using departmental rates? Explain.

Moerdyk Corporation's bonds have a 10-year maturity, a 6.25% semiannual coupon, and a par value of $1,000. The going interest rate (r d) is 4.75%, based on semiannual compounding. What is the bond's price?

Which If the following statement does is true about variable expenses

The SP Corporation makes 40,000 motors to be used in the production of its sewing machines. The average cost per motor at this level of activity is:Direct materials $ 9.90Direct labor $ 8.90Variable manufacturing overhead $ 3.

Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on

Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.

Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.

Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007. What is the annual dividend on the preferred stock? a. $60 per shareb. $30,000 in totalc.

a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.