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Accounting homework help

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job costing and process costing problems

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Corporate Finance

Time Value of Money and Cost of Capital

Future Value and

E 9-9

E 9-9

Optix International is considering a significant expansion to its product line. The

sales force is excited about the opportunities that the new products will bring. The new

products are a significant step up in quality above the company’s current offerings, but

offer a complementary fit to its existing product line. Frank Renolds, senior production

department manager, is very excited about the high-tech new equipment that will have to

be acquired to produce the new products. Carol Fischer, the company’s CFO, has provided

E 8-5 : Hachey

E 8-5:

Hachey Company has accounts receivable of $95,100 at March 31, 2007. An analysis

of the accounts shows these amounts.

Prepare entries for recognizing

accounts receivable.

(SO 2)

Balance, March 31

Month of Sale 2007 2006

March $65,000 $75,000

February 12,600 8,000

December and January 10,100 2,400

November and October 7,400 1,100

$95,100 $86,500

Credit terms are 2/10, n/30. At March 31, 2007, there is a $2,200 credit balance in Allowance

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