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Question: Prepare any necessary adjusting entries at December 31, 2011, for Yacht Company's year-end financial statements for each of the following separate transactions and events.
1. Yacht Company records an adjusting entry for $2,000,000 of previously unrecorded cash sales (costing $1,000,000) and its sales taxes at a rate of 5%.
2. The company earned $40,000 of $100,000 previously received in advance for services.
Complete the vertical analysis by computing each line item (a)(f) as a percentage of sales revenues. Round to the nearest whole percentage. Does the percentage that you calculated in 1(a) suggest that the decline in fuel costs in 2013 contributed to ..
if a check correctly written and paid by the bank for 428 is incorrectly recorded on the companys books for 482 the
Complete the case study using the ethical decision making model. As the new accountant for the Get Gas Here Truckstop & Restaurant,
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Examine the sources of pressure that change and influence the development of GAAP. Determine the sources of pressure that have the greatest impact. Justify your rationale.
what is future development along with the harmonization efforts of fasb and iasb on investment? please provide detail
Describe one researched accounting position
jacob issues 660000 of 12 14-year bonds at a price of 103.5. six years later on january 1 2016 jacob retires 10 of
the following transactions occurred over the months of september to december 2011 at nicoles getaway spa ngs.september
the bacon company acquired new machinery with a price of 13562.00 by trading in similar old machinery and paying
More quality. Would a bigger sample help us to assess manufacturing consistency? Suppose instead of the 50-candy bags of Exercise 20, we work with bags that contain 200 M&M's each. Again we calculate the proportion of green candies found.
telephone sellers inc. sells prepaid telephone cards to customers. telephone sellers then pays the telecommunications
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