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Question: (Journal entries for an Internal Service Fund) The Yorktown Motor Pool Internal Service Fund had the following transactions and events during January 2013. Using the data in exercise E7-10 where applicable, as well as your solution to the exercise, prepare journal entries to record the transactions.
1. Paid salaries for the month in cash (1/12 of $80,000)
2. Paid $600 cash for fuel and maintenance expenses
3. Recorded depreciation expense for the month
4. Recorded insurance expense for the month
5. Accrued fringe benefits expense for the month
6. Billed for motor vehicle services as follows: General Fund, 80 trips; Water Enterprise Fund, 10 trips
the december 31 2007 balance sheet of butterfly wings inc.showed 150000 in the common stock account and 2.9 million in
in june of this year dr. and mrs. alvin lord traveled to memphis to attend a three-day conference sponsored by the
Describe how direct service differs from indirect service in global transportation and when it is advantageous to use each type. Provide examples.
What is the E&P of Purple Corporation after the property distribution?
On February 28, 2009, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2009, was $2,100,000. The income tax rate is 40%.
perch co. acquired 80 of the common stock of float corp. for 1600000. the fair value of floats net assets was 1850000
List three examples of BPR used in the expenditures processes.
1. Compute the company's return on investment (ROI) for the period using the ROI formula stated in terms of margin and turnover. (Round your intermediate calculations and final answer to 2 decimal places.)
His net regular tax liability beforethe general business credit is $95,000, and his tentative minimumtax is $82,000. Compute Earl's allowable general businesscredit for the year.
the net income reported on an income statement for the current year was 58000. depreciation recorded on fixed assets
a company has total fixed costs of 210000 and a contribution margin ratio of 30. how much sales are necessary to break
(Journal entries, financial statements, and closing entries for a Debt Service Fund) The following are a trial balance and several transactions that relate.
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