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Journalize the entries to record the following:
Aug 1. Established a petty cash fund of $500
Aug 30. The amount of cash in the petty cash fund is now $190. The fund is replenished based on the following receipts: office supplies, $220; postage, $80. Record any discrepancy in the cash short and over account.
Required
Problem 1: Prepare bank reconciliation and journalize the entries.
Major equipment refurbishment costs that extend the equipment's original anticipated useful life should be capitalized as part of the cost. True/false
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Calculate the present value of the note receivable suing a 15 % interest rate
An average server sells $1400 in a single shift. If the server makes an average of 14% tip of a bill, what is the annual gross income of the server?
Assume no bonds were retired during 2012. What was the positive cash flow associated with the long-term debt for Cleft Company in 2012?
The newly developed product is brought to market in January 2012 and is expected to generate sales revenue for 10 years. Determine amount Moxie should recognize as research and development expense in 2011 under GAAP.
the White Sox head groundskeeper, scouted nationwide for dirt before settling on the mix provided by Partac Peat. First time Roger Bossard purchased Partac Peat, it was most likely an example of which type of buying situation?
Digregory makes all purchases on account, subject to the following payment pattern: If purchases for January, February, and March were $195,000, $175,000, and $225,000, respectively, what were the firm's budgeted payments in March?
Bill Jovi is reviewing the cash accounting for Sweet, Inc., a local mailing service. Jovi’s review will focus on the petty cash account and the bank reconciliation for the month ended May 31, 2017. He has collected the following information from Swee..
Which anomaly to the efficient market hypothesis documented by BALL and Brown (1968)? the market to book ratio drift. / post earning-accounting drift
Compute the amount of the aftertax income from the additional preferred stock if it is purchased.Compute the aftertax borrowing cost to purchase
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