Jack corporation uses horizontal analysis to compare its income statement from year to year. jack corporation reported the following data last year as well as the percent change when compared to the current year:

total last year % change in current year
sales revenue $600,000 7.00%
cost of goods sold $180,000 1.00%
gross profit $420,000

what is the cost of goods sold in the current year?

a. $657,600
b. $560,748
c. $642,000
d. $42,000

At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. required: a. journalize the adjusting entry to record the accrued fees on december 31. refer to the chart of accounts for exact wording of account titles. b. if the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

Post test question number 9 for entering the job market

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan