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A friend has asked you to look at the accounts of his small restaurant and recommend the end-of-period adjusting entries. After viewing the accounts, it was apparent that the following adjusting entries were required.
Complete journal entries for each required adjustment.
a. A total of $2,040 of prepaid insurance must be expensed.
b. A total of $5,000 of prepaid rent has been consumed.
c. Kitchen equipment depreciation in the amount of $3,500 must be recognized.
d. Wages earned and due employees but not paid total $692.
e. Supplies of $874 have been used.
f. Interest on a note payable in the amount of $290 must be accrued.
For each item shown below, classify it as a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit of fin..
Prepare a budgeted income statement, under absorption costing for Mile-High for the months of April, May and June assuming that Mile High opts to use the variable delivery service. Include supporting schedules to support the revenues and manufactu..
hydra company has 2 locations downtown and at a suburban mall. through march the company reported total net income of
amazing glory inc. knew a net income of 95000 including 20500 in depreciation expense. additional changes from balance
Prepare a bank reconciliation for Xenon, Inc - Make the required journal entries associated with the bank reconciliation.
Cashier receives $8,000 cash for Accounts Receivables during her shift, but she only has $7,990 at the end of her shift. How would you record the entry?
Evaluate the financial impact of spending this additional money on advertising for the month of February and how much will total costs increase for the month of February
By what amount would net relevant costs be increased or decreased if Buck accepts Hollow's offer?
Prepare the statement of cash flows the direct method for operating cash flows - preparation of the 2007 statement of cash flows for the Yellow Company
questionprepare the 2009 financial statements for the walt disney company on the internet. use those financial
Calculate the taxable value of the FBT for the car applying the statutory formula and what are the GST considerations for each party in regard to this arrangement (considering "supply")?
Lager Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2012.
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