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For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pilkey Co. for the year ended December 31, 2010: (a) Cash collected from customers during the year amounted to $882,000, and accounts receivable increased by $41,200. How much were sales on account for the year ended December 31, 2010? Revenues earned $ b)Cash payments for income taxes during the year were $237,000, and income taxes payable increased by $35,700. How much was income tax expense? Expense Incurred $ (c) Cash paid to suppliers during the year amounted to $677,000, accounts payable decreased by $26,400, and inventories decreased by $11,300. How much was cost of goods sold? Expense Incurred $ (d) The net book value of buildings increased by $163,000. No buildings were sold, and a new building costing $262,000 was purchased during the year. How much was depreciation expense? Expense Incurred @
lambert invests 10000 for a 13 interest in a partnership in which the other partners have capital totaling 26000 before
prepare one to two page document listing a minimum of five adjusting entries to a trial balace explaining the purpose
Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650 respectively, at December 31, 2010.
mcmillian tire company produces tires used on small trailers. the month of june ended with 700 tires in process 90
Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2011, recording any necessary amortization and reflecting all balances accurately as of that date.
pink jeep tours offer off-road tours to individuals and groups visiting the southwestern u.s. hopspots of sedona
mary willis is the advertising manager for bargain shoe store. she is currently working on a major promotional
Find the payment you would need to make per year at a discount rate (interest rate that the bank charges you) from 0% to 50% (51 answers), if you borrow $5,000,000 ($5 million) today (PV) and pay it back in equal amounts over the next 30 years..
Compute the current ratio, Inventory turnover, Receivables turnover, Book value per share, Earnings per share and describe the requirements for a change in accounting principle and at least four reasons why companies might implement a change in acc..
Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Vance is the only employee
soenen inc. had the following data for 2008. the new cfo believes that the company could improve its working capital
krusty co. uses a capital intensive production process and allocates maintenance costs to the three producing
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