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Insurance expense $8,000 cashe $7,000 Accounts payable $7,000 Advertising expense $3,000 Service revenue 80,000 Ansel drawing 13,000 Accounts receivable 8,000 Note payaboe 12,000 Ansel, capital, Dec 31, 2012 ? Salary expense 25,000 Equipment 0,000 Owner investment, 2012 29,000
1. Prepare the following financial statements for studion photography for the year ended december 31, 2012:
a. Income Statement
b. Statement of owners equity
c. Balance sheet.
on july 25 2010 karen who is single gives stock with a fmv of 7500 and a basis of 8000 to bill. karen had purchased the
According to your text, the accounting profession has adopted a modified all-inclusive concept to income reporting. Using this approach companies report unusual or irregular items as a part of net income. What are these items and they are they ..
Ernie's executor elects to claim the marital deduction for the QTIP transfer. At the time of the surviving spouse's death, the value of the QTIP trust is $3.6 million. The amount of the QTIP trust included in the surviving spouse's gross estate is..
for turgo company variable costs are 60 of sales and fixed costs are 185000. managements net income goal is 88170.
if the sales manager receives a bonus of 15 cents for each unit sold in excess of the break-even point how many units
assume youre a product manager for a large profit-seeking manufacturing firm.nbspnbspspecifically you manage product
Using Delta Airlines, discuss the portfolio associated with it (other products or services offered by the same company). Think of the associated products and apply them to the Boston Consulting Group's portfolio analysis grid. Which ones are stars..
what is an operating budget? what does it result in? what is the first step in completing an operating
leslie manufacturing company purchased land adjacent to its factory for the installation of a holding area for
The process by which accounting standards has evolved over time worldwide differs significantly from country to country based on many factors.
kava inc. manufactures industrial components. one of its products which is used in the construction of industrial air
Each, evening, a disk, whichwas created during the processing run, is used to print premuimnotices that are sent to the customer. Q: Prepare a table of entities and activities
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