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Please help finishing these two accounting questions. Thank you! Maximilian Corporation provided revenue disclosures for the current year by its major product segments in the
Please help finishing these two accounting questions. Thank you!
Maximilian Corporation provided revenue disclosures for the current year by its major product segments in the notes to its financial statements as follows: Major Product Segments Petroleum-based products Current Year (in millions) $2,820 Industrial chemicals 9,210 Refined chemical products 8,475 Food additives 7,335 Emulsifiers 6,820 Pesticides 5,870 Salts 4,545 Wetting agents 3,220 Total revenues $48,295 Prepare a vertical analysis. Round your answers to one decimal place. Do not enter the percent sign. Maximilian Corporation Revenue Disclosures Current Major Product Year (in Percent Segments millions) Petroleum-based $2,820 % products Industrial 9,210 chemicals Refined chemical 8,475 products Food additives 7,335 Emulsifiers 6,820 Pesticides 5,870 Salts 4,545 Wetting agents 3,220 Total revenues $48,295 % 1. Sampson Co. sold merchandise to Batson Co. on account, $24,300, terms 2/15, net 45. 2. The cost of the merchandise sold is $18,225. 3. The Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Prepare the entries that Sampson Company would record for the information above. a. b. c. Prepare the entries that Batson Company would record for the information above. a. and b. cStep by Step Solution
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