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April and May formed a partnership on January 1, 2011. April contributed $180,000 cash and equipment with a market value of $80,000 with a loan note payable of $40,000. May's investment consisted of $60,000 in cash, $60,000; inventory, $40,000; all at market values. The partnership made a net income of $80,000 for 2011.
Required: Prepare the journal entry to record the formation of the partnership on January 1, 2011
Journalize the adjusting entry required at September 30, the end of the first month of the current fiscal year, to record the accrued product warranty.
The cost behavior pattern has been identified as fixed at a certain volume of activity
during the first week of january liesl grady earned 600. assume that fica taxes are 7.65 percent of wages up to 50000
the capital balances prior to the liquidation of the xyz partnership were as followsx y and z share profits and losses
On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $36,000 to Reyes Products, Inc for merchandise inventory. Determine the adjusting entry for Seba on December 31 assuming the note carries an interest rate of 8%.
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The cost of the land preparation
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Identify five other ways in which the Private Securities Act of 1995 will potentially change auditors' legal liability. Explain how each is of potential benefit to the auditor.
Could a company lose to a competitor if they do not have real time online perpetual inventory records to provide answers to customers that are trying to place an order?
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