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Ryan Patrick operates a roller skating center. He has just received the monthly bank statement at June 30 from Citizens National Bank, and the statement shows an ending balance of $750. Listed on the statement are an EFT rent collection of $409, a service charge of $7, two NSF checks totaling $120, and a $10 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $610 and a June 30 deposit in transit of $1,765. During June, he recorded a $270 check for the salary of a part-time employee as $27. Patrick’s Cash account shows a June 30 cash balance of $1,876. How much cash does Patrick actually have at June 30, 2014?
Use the data from exercise above to make the journal entries that patrick should record on June 30 to update his cash account. Include an explanation for each entry
In an organization that does not use responsibility accounting, where would the various costs be assigned? What effect might this have on future printing orders from the marketing department?
Decision of inclusion of transactions in the cash flow statement - Should this transaction be included in the calculations on the cash flow statement or shown in the note and desscribe your answer
Assume the mean useful life of a particular light bulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. Calculate useful life of light bulbs within two standard deviations of the mean.
Adjust Sunbeam's 1997 Earnings before interest and taxes for one-time events and apparent changes (e.g., doubtful accounts, depreciation expense, and etc.) in accounting policy.
Describe how the TSR and MVA compare with the SVA and the EVA. How does this move stakeholders in a company?
Research and find the latest 10K for Amazon.com. How would you primarily classify the company? Is it a service, a merchandiser, or a manufacturing organization? Explain, giving reasons.
Provide a comparative analysis net income and net cash provided by operating activities (ignoring other accrual adjustments) using a 10-year and a 15-year useful life.
effective december 31 2003 zintel corporation proposes to issue additional shares of its common stock in exchange for
Big Company manufactures keyboards. Management wishes to develop budgets for the upcoming quarter based on the following data: Calculate the budgeted quantity of plastic which needs to be purchased for the next quarter.
Describe the technique the company is using that can constitute a financial shenanigan. Indicate both the technique used and how auditor should react.
If sales taxes must be remitted to the state government monthly, illustrate what entry will Al's Bookstore make to show the April remittance?
Compute Moozis fixed manufacturing overhead variances for last year - Moozi applies manufacturing overhead to its products on the basis of standard machine-hours.
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