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Essay Petra industries have a fiscal year (FYE) of May 31. Prepare the adjusting entries for the 2008 (FYE) based on the following data.
a. The balance in office supplies before adjustment is $4,200. A physical count reveals $3,350 of supplies on hand at financial year end.
b. A computer was purchased at the beginning of the (FYE) for $23,000. The computer has a useful life of 4 years and a $3,000 salvage value. Use the straight line method to calculate depreciation.
c. A three year insurance policy costing $3,960 was purchased on Sept. 1st 2007.
d. Employee's salaries are owed for 2 days of a regular 5 day work week. Weekly payroll $8,700.
e. Unearned Maintenance Revenue has a balance of $19,000 before adjustment. Record show that $6,515 of that amount has been earned by FYE.
Basic flexible budgeting Sydney, Inc., has the subsequent budgeted production costs:
If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, illustrate what are the expected cash receipts for March?
Assigning responsibilities in various responsibility centers and Advertising is handled by the corporate marketing departments, but the sales office controls a SMALL operating budget for entertainment expenses.
Discuss in 200 to 300 words, each of the four financial statements. Elucidate the different components of the statements as well as what the statements tell about a business.
Evaluate amount of current liabilities does this firm have and How much long-term debt does the firm have
Determine the reliability factor, determine the correct expansion factor and determine the sample size you should use.
Assuming Dodger's tax rate is 30 percent in all periods, and that the company uses the carryback provisions, what amount should appear in Dodger's statements for financial reporting purposes as a net loss in 2011?
Explain the article that you have found in your own words and clearly relate the concepts, ideas and facts within the article to one or more of the theories or topics that you have studied this session.
the employees cumulative earning for the year prior to this week equal $6,200. the employee's cumulative earnings for the year prior to this week equal $98,700.
In addition, Ashley pays $14,000 in commissions and $3,000 in legal fees in connection with the sale. Explain how much does Ashley realize (the amount realized) from the sale of her property?
Last year the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth?
determine some of the initial interview questions to help a forensic accountant to accurately estimate the income from a service station. Explain proactive auditing. Compare with reactive auditing. Give specific techniques. Illustrate what are so..
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