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Problem 1: When you decide to write off a bad debt, you need to reflect this in your MYOB. Bad debts are a reversal of the original sale, but the transaction is allocated to a bad debts expense account. Explain briefly how to create bad debts expense account.
during the fourth quarter of 20x6 cablevision inc. generated excess cash which the company invested in securities as
If Rock Shop uses the LIFO method for financial reporting and FIFO for internal purposes. what is the amount of the LIFO reserve at January 31st?
at the end of the fiscal year 2012 the turner corporation showed the following selected account balancessales all on
Describe how to record business transactions using the accounting equation. Your response should begin by defining what a transaction
A $910,000 bond was issued on October 1, 2013 to build a new road. Prepare the required journal entry in the Capital Projects Fund on October 1
At December 31, the unadjusted trial balance of H&R Tracks reports Software of $26,500, Prepare the required journal entry on December 31
Create at least 3 measurable project objectives based on your analyses. Determine timelines and responsibilities for each objective (e.g. with a RACI chart)
Determine the size of the two replacement payments if interest is 4.1% compounded annually and the focal date is one year from now
Assume the estimated inventories on January 1, 2017, for finished goods and work in process were $14,490 and $4,830, How much is budgeted cost of goods sold
Barry sold depreciable property used in his business to Ken for $192,000 cash plus a bond redeemable in 5 years for $95,000, but currently trading on the NYSE.
Discuss the following topics on accounting manipulations: What are accounting manipulations? What are the motivations/ reasons for accounting manipulations?
Ryan Richards, controller for Grange Retailers, has assembled the following data to assist in the preparation of a cash budget for the third quarter of 2008:
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