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The following information is available for Alfa Co. on July 31 for the year just ended.
a)This year's advertising bill for $2,000 is unrecorded and unpaid.b)The estimated yearly depreciation on the furniture is $900.c)Accrued salaries at year-end totalled $36,500.d)$4,300 of the consulting fees paid to Alfa Co. in advance has been earned.e)A review of the $13,000 unadjusted balance in the prepaid rent account shows a remaining balance of $11,000 at the end of the year.
Prepare the required adjusting entries at July 31, 2011.Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm. For each journal entry, indicate how each account affects the balance sheet. Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'.
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Maggie Moo's Ice Cream Shop had a gross pay of $19,000 and a net pay of $13,200 for the latest payroll. The journal entry to pay the payroll would be:
On April 3, 2008, Mark filed his 2007 Income tax return, which showed a tax due of $80,000. On June 1, 2010, he filed an amended retrun for 2007 that showed an additional tax of $10,000. Mark paid the additional amount. On May 18, 2011, Mark filed..
Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2010. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations.
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doug and sue click file a joint tax return and decide to itemize their deductions. the clicks income for the year
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