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Problem 1: A petty cash fund was established with a $150 balance. It currently has cash of $30 and petty cash tickets as? follows: Office expense $130 and Entertainment Expense $10. Which of the following would be included in the journal entry to replenish the Petty Cash? fund?
a. credit to Cash Short? & Over for $20b. credit to Cash Short? & Over for $10c. debit to Cash Short? & Over for $20d. debit to Cash Short? & Over for $10
Calculate the payback period for each project. Calculate the Net Present Value (NPV) of each project. Advise management on which, if either, project to pursue and why.
f a company adopts the revaluation method in relation to an item of property, plant and equipment, why it is still necessary to charge depreciation in relation
Anest has asked you to prepare an accrual basis income statement for the year-The following information should help in the preparation of the income statement
Your winnings will be paid as $2,100,000 per year for the next 20 years. If the appropriate interest rate is 5.4 percent, what is the value of your windfall?
You are an auditor filing an 8-K Interim Event. Describe your client and what circumstances led you to decide you needed to file this report. Now, in a follow-up post, imagine you need to file an S-1 IPO Registration report on behalf of the same clie..
Think of Citibank’s new strategy (customer service and relationship banking). What were the limitations of the previous performance measurement system? Is the old system aligned to strategy? What changes were required to the system to better align to..
Find Which of the statements is correct for HKT Co? HKT Co. produces and sells two products, A and B. Revenue and cost data are shown
Steve Morgan, controller for Newton Industries, was reviewing production cost reports for the year. One amount in these reports continued to bother him—advertising. Who are the stakeholders in this situation? What are the ethical issues involved in t..
In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2014.
The Early Start Learning Essentials Company has been a family run company for the last 30 years. It is well recognized in the state of Michigan for selling
Japeth's statement of changes in owner's equity shows net income of $25,000, owner's drawings of $5,000. What was Japeth's beginning balance
BO1COAC318 Corporate Accounting Assignment - Business Report, Kent Institute Australia. Accounting for finance leases by manufacturer or dealer lessors
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