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At September 1, Company A reported total assets of $300,000. During September the company recorded the following transactions.
1) Collected accounts receivable totaling $15000
2) sold land that had a $12000 cost for $20,000 cash
3) earned service revenue of $8,000 of which 20% was received in cash
4) Incurred expenses of $5,000 which 50% was paid off in cash
Problem 1: Calculate the total assets of company A after the four above transactions have been recorded.
Expenses for February totaled $131,000, of which $108,000 was paid in cash. Dividends declared and paid during February were $12,000.
Are there any indications that the internal environment at Greater Providence may have been deficient? If so, how could it have contributed to this embezzlement?
Nancy Howard, owner of Howard Corporation, is negotiating for the purchase of Innovative Technology. The balance sheet of Innovative Technology has Cash of $40,000; Land of $100,000; Building of $250,000; Equipment of $142,000; Total Liabilities of $..
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