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Problem 1: A business pays weekly payroll of 120,000 on Friday, for a 5-day work and Dec. 31 falls on a Wednesday. How much is accrued salaries payable?
Problem 2: Furniture costing 320,000 was acquired on April 1 of the current year. It has an estimated residual value of 20,000 at the end of its useful life of 5 years. How much is depreciation expense as of Dec. 31?
Use for 3 to 5
Problem 3: On Sept. 1, 2019, Boss Co. bought a brand new computer costing 125,000. It has an estimated life of 5 years and a scrap value of 5,000 at the end of its life. The accounting period ends in Dec. 31. How much is the depreciation of the computer for 2019?
Problem 4: How much depreciation expense should be recorded at Dec. 31, 2020?
Problem 5: How much is the book value of the computer as of Dec. 31, 2020?
Determine The amount of joint cost that should have been allocated to the Pork Palace in April is calculated to be, Bradbo owned two adjoining restaurants
Prepare journal entries to record the following selected transactions of Ridge Company.
Prepare journal entries to record the transactions described above.
ABC Company sold an equipment for $1,000 cash on Feb 1, 2017. How much is the carrying value of this equipment
on the basis of the following data for branch co. for the year ended december 31 2011 and the preceding year prepare a
Prepare the bank reconciliation for november. Entity A is preparing its November 30, 20x1 bank reconciliation statement, Credit memo ?380,000
1.1 Define Accounting? 1.2 What is the main objective of financial statements? 1.3 Name the two main underlying assumptions of accounting?
On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when the market value of the common stock was $19 per share.
Target Corporation in 2007 reported net income of $2.9 billion, net sales of $61.5 billion, and average total assets of $41.0 billion. What is Target's asset turnover ratio? What is Target's rate of return on assets?
Jersey Subs, Inc. wants to find an equation to estimate monthly utility costs. Using the high-low method, determine the cost function for each cost
mauve corporation began operations as a farm supplies business and used a fiscal year ending september 30. the company
Mahatma Gandhi is quoted as saying: "Capitalism as such is not evil; it is its wrong use that is evil." What do you think Gandhi meant by this statement? Give an example of when capitalism may have fallen short of its goal to promote the interests..
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