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Questions -
Q1) During 2020 Van der's Mechanical paid out $85 000 in wages from its bank account. This $85 000 included $5 200 that was owing but unpaid at year-end for 2019. At year-end 2020 wages owing but unpaid were $11 200. The business uses accrual accounting. How much would be reported as wages expense for 2020?
Q2) The accounts of Amy's Flowers show the following end of year balances:
$
Cash 2000
GST receivable 350
Salaries payable 80
Supplies expense 1500
Interest expense 50
Prepaid rent 300
Salaries expense 4500
Accounts payable 225
During the closing process the total debit to the profit or loss summary account would be?
During the 3rd year the bus was driven 96,000 miles. Calculate the depreciation expense for the 3rd year for each of the methods
the massoud consulting group reported net income of 1386000 for its fiscal year ended december 31 2013. in addition
a company uses an 8 discount rate and has a decision to make between four projects. project 1 has an annual cash inflow
What type of tax rate structure does the U.S. tax system apply? What are the individual tax forms, and what factors are used to determine which one to use?
3,000 pounds of direct materials were on hand on May 31. How many pounds of direct materials should be purchased in the month of June?
What is the correct adjusted entry to record the installment sales? The old machine is estimated to have a resale value of P 70,000 after incurring recondition
List and describe three management assertions that may have been violated. Explain how the assertions could be affected
Computer Parts, Inc. is considering an investment that will have cash flows of $8,000, $7,000 and $4,000, What is the approximate value of this investment
The down payment is not refundable, collection of the note is reasonably certain, the franchisor has yet to perform a substantial amount of services, and the down payment represents a fair measure of the services already performed.
As of 12-31-19, H had $75,000,000 of 8%, 15-year convertible bonds. What will H report as basic EPS for the year ended 12-31-19
Explore the tax consequences of selling inherited property and determine how the tax basis is calculated for profit or loss
ruth ames died on january 10 2012. in filing the estate tax return her executor melvis sims elects the primary
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