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Mazyrski [523]
2 years ago
13

On December 18, Intel receives $260,000 from a customer toward a cash sale of $2.6 million for computer chips to be completed on

January 23. The computer chips had a total production cost of $1.6 million. What journal entries should Intel record on December 18 and January 23? Assume Intel uses the perpetual inventory system.

Business
1 answer:
lord [1]2 years ago
5 0

Answer:

Explanation:

the picture attached gives the full solution to the problem

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Marcus, a manager at Royal Memphis Hotel, is training a new group of employees. After each training session, the employees compl
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feedback

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3 years ago
An asset was purchased for $ 26 comma 000 on January​ 1, 2019. The​ asset's estimated useful life was five​ years, and its resid
Zielflug [23.3K]

Answer:

Loss on disposal $1,800

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It is assumed that depreciation is fully charged for the year on asset.                            

5 0
3 years ago
The board of directors of pilgrim company authorizes a $100,000 restriction of retained earnings for a future plant expansion. t
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Answer:

It will reduce the amount of dividiends it can pay.

Explanation:

As there is an amount of the retained earnings that is restricted the company cannot use them to pay up neither stock or cash dividends in the future.

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