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Differentiate between the various rates of pay among the different major groups of employees, and include information about the differences between exempt and nonexempt employees. Discuss how wage and hour legislation has affected employment practices.
Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?
William County opted to account for its duplication service center in the internal service fund. Previously the center had been accounted for in county's general fund. During first month in which it was accounted for as an internal service fund cent..
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
The company mostly sells on a retail basis to household consumers, but occasionally receives large orders for tables and chairs from schools and businesses.
Write down a one-half page memorandum (at least 2 paragraphs) to Terrio explaining why the $6,000 loss on sale of Blackhawk stock is
A company has current assets of $45,000, current liabilities of $30,000, and total liabilities of $55,000. The current ratio is:
During the current year, Hugo sells equipment for $150,000, which it placed in service in 2009. The equipment cost $175,000, and $55,000 of depreciation deductions was allowed. The results of the sale are
Assume that the company follows the practice of allocating all maintenance department costs incurred each month to the divisions in proportion to the actual machine-hours recorded in each division for the month. On this basis, how much cost would ..
During 2011, Company X sells 500,000 units for $8 each. Sales discounts are $100,000 and sales returns and allowances are $300,000. The company reported a total of $710,000 in fixed assets on January 1, 2011 and $890,000 in fixed assets on Decembe..
Prepare the journal entries to record the November 17, 2011 (ignore cost of goods) and collection on November 26, 2011, assuming that the gross method of accounting for cash discounts is used.
John Haven purchased a bond for $9,500. The bond pays $300 interest every six months. If John decides to sell the bond after 18 months for $10,000 what would be his:
James Welling, a 37 year old engineer has an appointment to meet you in about an hour. As you are reviewing his accounts, you notice that he is a fairly active trader. He seems to do pretty well with returns that outpace the averages-Prepare some ..
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