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Calculation of Adjustment Entries.
COLO COMPANY Work Sheet For Month Ended May 31, 2005
Unadjusted
Adjusted
Trial Balance
Adjustments
Account
Debit
Credit
Cash
Accounts receivable
Merchandise inventory
Office supplies
Store supplies
Prepaid insurance
Office equipment
Accum. depr., office equip.
Store equipment
Accum. depr., store equip.
Accounts payable
J. Colo, Capital
J. Colo, Withdrawals
Sales
Sales discounts
Sales returns and allowances
Cost of goods sold
Depr. expense, office
equip.
Depr. expense, store equip.
Office salaries expense
Sales salaries expense
Insurance expense
Rent exp., office space
Rent exp., selling space
Office supplies expense
Store supplies expense
Utilities expense
Totals
Net income
Balance Sheet
Income Statement
Balance Sheet & Statement of Owner's Equity
Depr. expense, office equip.
Purpose an entry Parchment needs to make and compute the balance in Parchment's investment in Silky account. (Do not round calculations of new interest).
Calculation of good will - Total Shareholders' Equity of Little
The directors of Snapper Ltd want to calculate both the factory and the land at fair value as at 30 June 2010 Show how you would measure these fair values
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Evaluate the amount of gross income to be recognized from the installment sale in 2013, 2014, 2015, and 2016 using point of delivery revenue recognition.
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Determine EPS under IFRS rules; Criticize and Defend IFRS Accounting; Evaluate and present the difference in EPS and Net Income between US GAAP and IFRS;
Prepare the September 9 entry to establish the fund and (2) the September30 entry to both reimburse the fund and reduce it to $300.
For your response discussion need, critically observe the budget and currency calculations of another student.
To forecast Additional funds needed using AFN equation - Use the AFN equation to forecast Carter's additional funds needed for the coming year.
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