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Woods Co./McIlroy Co. - profit

The Woods Co. and the McIlroy Co. have both announced IPOs at $40 per share. One of these is
undervalued by $9.50, and  the other is overvalued by $5.25, but you hav...

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Category:Financial Management on 18 Feb, 2018

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Morrison Company - post closing trial balance

Ledger Account Balances for Morrison Company at December 31, 2017 is as
follows: Accounts Cash $15,000 Accounts Receivable 30,000 Prepaid Insurance
7,500 ...

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Category:Financial Accounting on 18 Feb, 2018

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Dees Steakhouse - food cost of sales

P2.3 Dee's Steakhouse has separate food and bar operations. Calculate food cost of sales
and net food cost of sales for August. The following information is provided:...

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Category:Management Accounting on 18 Feb, 2018

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Smith Stakehouse - Depreciation

Smith Steakhouse is a restaurant catering to a variety of customers. They purchased a new high
power oven at a cost of $100,000 on January 1, 2006. The oven has an expect...

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Category:Financial Accounting on 18 Feb, 2018

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Glaus Inc - inventory

On January 1, 2018, the merchandise inventory of Glaus, Inc. was $1,200,000. During 2018 Galus
purchased $2,400,000 of merchandise and recorded sales of $3,000,000. The g...

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Category:Financial Accounting on 18 Feb, 2018

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Piper - conventional retail method

Piper uses the conventional retail method to determine its ending inventory at cost. Assume the
beginning inventory at cost (retail) is $260,000 ($396,000), purchases dur...

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Category:Financial Accounting on 18 Feb, 2018

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