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Prepare the following journal entries in the Bid Deposits Fund, an Agency Fund. This fund is used to record all deposits made by contractors doing work for the city. Any earnings on these resources are required to be paid to the depositing companies.1. Deposits totaling $ 750,000 were received.2. The amount in the previous entry was invested in CDs.3. Income from the investments totaling $ 70,000 was received.4. Deposits of $ 93,750 were returned to contractors upon successful completion of the projects on which they had been working. In addition, these contractors received $ 8,750 of earnings on their deposits.5. The books were closed for the year.
Prepare the June 30 journal entries to record the receipt of the interest and the receipt of the dividends.
a client comes to your tax firm. she asks you to research a tax issue and advise her on how to reduce her exposure to
same day service purchased a new steam press on january 1 for35000. it is expected to have a five year useful life and
Imagine that your client is unable to make his / her business loan payments and creditors are threatening legal action. Recommend one (1) strategy to your client that will best protect his / her business and personal interest from the creditors. S..
In the beginning of 2012, Ken Corp changed its salvage value of equipment from 3 to 5 years. The change is material in the financial statements.
Verify the overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products.
ORPORATE GOVERNANCE And ACCOUNTABILITY.
What section of the annual report can you find explanation for increase/decrease in sales and earnings?
Which of the following steps in the accounting cycle requires the most thought and judgment by the accountant: (a) preparing a trial balance, (b) posting adjusting, and closing entries, or (c) analyzing and recording transactions? Explain your ans..
during the current year the harlow corporation which specializes in commercial construction has the following property
direct labor is a variable cost. the special order would have no effect on the companys total fixed manufacturing
carmen electronics bought new machinery for 5 million. this is expected to result in additional cash flows of 1.2
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