If i bought 650 unit at $7 and sold 520 units at $10.15 what is the cost of sold goods:

I just got store credit when I returned some bad juice. This left me wondering. Which accounts receive the entries when a store issues store credit? For example, when I made the payment for the juice, they must have made two entries --one for cash received (positive) and one for inventory (negative). In this case I believe the following to hold true: 1. They will have to write down the inventory (bad juice). 

1. They will not change the cash account because they did not give me any cash back. Furthermore, the store credit expires in the next 6 months. If I do not use it by then won't they simply have a positive cash flow but no revenue item corresponding to it? Are there accounting policies to explain such cash flows?

3.Can someone explain me why coins are assets and notes are liabilities for the U.S. Federal Reserve? I know coins are made from "precious" metals, but even notes are made from various materials too, so I am assuming its not because of this reason. Could anyone explain the logic behind this?

4.In 2017, ABS manufacturing produced and sold 50,000 units of "x" product in their first year. The following info is provided:

Total sales: (50,000 x $80)  4,000,000

Units Produced and Sold:   50,000

Direct Material $35 per unit

Direct labor$10 per unit

Variable Overhead:$5 per unit

Fixed Overhead:$8 per unit

Selling & admin:

Variable S&A$2 per unit

Fixed S&A$10 per unit

Calculate product cost per unit under Variable & Absorption Costing:

5.In accounting and investment, what are the difference and relation between balance and position, when talking about a checking/saving/investment account?

6.If my car insurance was £1200.01 per year, I could end up being charged £100 + 1/12p per month. I know that's not how it works, the extra penny is kept whole and goes on a specific month instead. What I don't know is how the month that gets the extra penny is decided. Is there a standard accounting practice for dealing with this? For example are all the "leftover" pennies worked out in advance and added to the first payment, or are they gathered up at the end making the final payment one penny more or less?

7.I own and rent out an apartment in a building that needs extensive repairs. The body corporate has broken the levy for the repairs into six payments. For the first three payments, last tax year, I paid them from a separate account I opened expressly for this purpose, then, when I re-fixed the mortgage, I transferred the balance of that account to the mortgage. In the meantime there were interest payments on the overdraft, which were clearly tax deductible. This year I am doing the same thing for the next three payments, but in the meantime I have paid off my personal overdraft, and have a savings account where I keep the money I owe the IRD (I pay GST and provisional tax every six months). I want to transfer money from this account to the repairs account to avoid paying interest on the overdraft, which is at a far higher rate than the interest on the savings account. My question is, if I do that, then transfer that money out again when I need to pay taxes, is the resulting interest still tax-deductible?

8.The new drug is expected to be a block-buster, which will help to increase the company's marketshare and the sales are expected to be $18 million in the first year. The sales revenue generated from this product alone is expected to grow at a rate of 9% pa in second, third, and fourth years and stay in line with inflation thereafter until its patent expires in 10 years.

Required equipment costing $8 million is expected to have a salvage value of $200,000 after 10 years. Fixed costs are estimated to be $3.50 million per year while variable production costs are expected to be equal to 20% of sales revenue in each case. To get the project underway, additional inventory of $450,000 would be required. The company would also need to increase its accounts payable by $100,000 and its accounts receivable by $150,000.

The weighted average cost of capital is calculated to be 11.5%. The current inflation of 1.5% pa isexpected to remain stable over the next 15 years, and so is the company's tax rate of 30%.

Question: Calculation of initial cash outlay, operating cashflows per year and terminal cashflows

9.I have taken an accounting course several years ago, but I'm a little rusty. I'm using GnuCash, double entry accounting software. I have a loan from a friend, so no interest. I have paid about half the loan off and have spent all the money from the loan years ago. However, now I have decided to start using GnuCash to track my finances. How do I enter this loan? I'm confused as to which accounts to enter this in, since I have no assets from the loan, they have all been spent. As of now I only have the liability. So where does the other entry go?

10.Consider TimeWarner: In 2002, $128Billion of its $209Billion in assets was Goodwill. What forced them to write down this goodwill to $37billion a few years later?