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Question: (Encumbrances and approval for payment) The sheriff 's office in the village of Katoonah had a General Fund appropriation of $85,000 for public safety supplies. On April 25 the sheriff ordered supplies with a quoted price of $80,000. On May 15 one-half of the supplies arrived, along with an invoice for $40,000. On June 6 the other half of the supplies arrived, accompanied by an invoice for $42,000. Both invoices were approved for payment. Prepare journal entries to record the encumbrance and acceptance of the supplies. Also, state the balance available for spending in the public safety supplies appropriation after acceptance of the second delivery of supplies.
dimotel hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess
Under what conditions may a seller who is exposed to continued risks of a high rate of return of the product sold recognize sales transactions.
Inlcuded in Perry's capital balance is a $20,000 partnership loan owed to Perry. Perry, Quincy, and Renquist shared profits and losses in a ratio of 2:4:4. Liquidation expenses were expected to be $15,000.
What are the three tools of a financial statement analysis and what are the functions of each.
Purchases for the year totaled $400,000; the cost of merchandise on hand at the end of the year was $80,000. Using the installment-sales method, make summary entries to record:
tavorn corporation applies manufacturing overhead to products on the basis of standard machine-hours. the companys
in responsibility accounting each segment in an organization should be charged with the costs for which it is
during 2009 federal express reported the following information in millions net sales of 35497 and net income of 98. its
on december 31 of the current year a companys unadjusted trial balance included the following accounts receivable debit
a not-for profit nursing home has total expenses of 50 million. sales tax in the state is 7. expenses are broken down
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. Seventy thousand shares of common stock are authorized, and 7,500 shares have been reacquired.
Mrs. Winkler owns 100% of the shares of Coco Inc. Mrs. Winkler's daughter, Annie, owns 70% of the shares of Bobot Inc. The remaining shares of Bobot Inc. are held by Coco Inc.
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