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.

On January 1, Skills Company purchased as a short-term investment a $1,000, 6% bondfor $1,000. The bond pays interest on January 1. The bond is sold on July 1 for $1,200plus accrued interest.

Approximately what percentage of the jobs in the united states do small businesses provide?

Beaver Manufacturing expects to produce 20,000 units next year and has budgeted overhead for the year at $240,000.

A wireless store owner takes presale orders for a new smartphone and tablet. He gets 320 preorders for the smartphone and 310 orders for the tablet. The combined sale of the preorders is $ 322,000.

Pronghorn Corporation had net sales of $2,417,100 and interest revenue of $37,500 during 2017. Expenses for 2017 were cost of goods sold $1,452,900, administrative expenses $221,200, selling expenses $282,700, and interest expense $45,100.

Pack, Inc. applies manufacturing overhead on the basis of machine hours. The following estimates were used for the current year: Estimated Machine Hours 200,000 Estimated Manufacturing Overhead $1,000,000 Actual machine hours were 202,000 and actual

The management of Furrow Corporation is considering dropping product L07E. Data from the company's budget for the upcoming year appear below:Sales $950,000Variable expenses $380,000Fixed manufacturing expenses $362,000Fixed selling and

All else equal, a dollar received sooner is worth more than a dollar received at some later date, because the sooner the dollar is received the more quickly it can be invested to earn a positive return. True False

How do the four building blocks of competitive advantages make an organization more successful

What keeps a business cycle going?