Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Kleer-N-Kleen Refuse Company, Inc., are a newly set up firm which specialize in clearing up space debris created by the launching of space craft and satellites. It issues to commercial customers large metalic toters with powerful suction capabilities. It requires its customers to deposit $4,000 for each toter used for trash collection and charges this amount when delivered. Upon the toters being returned, the amount is refunded. If a customer cancels the trash collection contract, but fails to return the toter, the deposited is forfeited by the customer. The firm began the current year withexisting customers and addednew customersduring the year. customers cancelled their contracts and returned the toters which had been issued to them. Onthe company held trash collection contracts. The remaining contracts represented the toters not returned by customers cancelling their respective contracts. Which of the following would be included in the journal entry to record the forfeiture of the deposits?
a. to Deposit Liability - $56,000
b. to Deposit Liability - $160,000
c. to Deposit Liability - $76,000
d. to Deposit Liability - $340,000
e. None of the above answers.
Why are warranty repair costs estimated and recorded in the period of sale rather than simply recorded when they are provided for customers?
Computer the selling price of these bonds and show the journal entry to record the sale
The auditor has assessed the risk of material misstatement and audit risk as high. Which would best reflect the impact on level of detection risk
MS company uses job order costing to determine the product unit cost of one of its products based on the following costs incurred during March.
a. What is the probable role of the monthly report? b. What is the controller's responsibility with respect to a president who doesn't know much accounting?
The balance sheet as at 31.12.X4 showed a provision for bad debts for the business of £2,100. The provision for bad debts as at 31.12.X5 is estimated to be 5% of debtors' balances. Show the bad debts account, provision for bad debts account and th..
Ending inventories: from home office - P10,000; branch purchases - P5,000. Prepare statement of operations and financial position for the branch
write down a 700- to 1050-word summary of teams discussion about ifrs v. gaap based on your team collaborative
Zen began a new consulting firm on January 5.
Calculate the cost of goods completed and transferred out during June using the weighted average process costing method
the income statement and a schedule reconciling cash flows from operating activities to net income are provided below
A candy factory's employees work overtime to finish an order that is sold on February 28. The office sends a statement to the customer in early March and payment is received by mid-March. The overtime wages should be expensed in ??
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd