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Record journal entries for these transactions assuming Garcia follows the usual practice of recording a prepayment of an expense in an asset account and recording a prepayment of revenue received in a liability account.Garcia Company had the following selected transactions during the year. Jan. 1 The company paid $6,000 cash for 12 months of insurance coverage beginning immediately for the calendar year.May 1 The company received $2,400 cash in advance for 6 months of contracted services commencing on May 1 and concluding on October 31.Dec. 31 The company prepared any necessary year-end adjusting entries related to insurance coverage and services rendered.
1. Record journal entries for these transactions assuming Garcia follows the usual practice of recording a prepayment of an expense in an asset account and recording a prepayment of revenue received in a liability account.
2. Record journal entries for these transactions assuming Garcia follows the alternative practice of recording a prepayment of an expense in an expense account and recording a prepayment of revenue received in a revenue account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Would a more viable democratic system add to or reduce the ability of government to operate more efficiently?
cindy cpa completed field work on september 23 2008 and issued the following report to the directors of the cma
on april 1 10000 shares of 5 par common stock wereissued at 22 and on april 7 5000 shares of 50 par preferredstock were
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You have run a series of regressions of firm value changes at Motorola, the semiconductor company, against changes in a number of macroeconomic variables. The results are summarized here:
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Suppose a company receives a note for $10,000 on 12/1/08 that pays interest at 12% per year
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