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The post-closing trial balance of the Winston County General Fund included the following ledger account balances on June 30, 2005:
Taxes receivable-delinquent $30,200 dr
Allowance for uncollectible delinquent taxes 1,300 cr
The property taxes assessment for the fiscal year ending June 30, 2006, totaled $640,000; 4% of Winston County's property taxes assessment has been uncollectible in past fiscal year.
Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.
In year 1 Laylor Company has revenues of $100,000, advertising expense of $22,000, depreciation of $15,000-what is expected for last four years. The cost of capital is 10%.
Your company is in financial trouble and is in the process of reorganizing. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this assignment. Prepare journal entries for debt rest..
Create a cost-benefit analysis to evaluate the project
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
Discuss the major weakness of performance report. Describe clearly why all the variances for variable expenses are unfavourable (U).
The concept of operating leverage Signifies to which of the following?
Ohio Corp. reported a deferred tax liability of $6,000,000 for the year ended December 31, 2012, when the tax rate was 40%. Income tax expense reported by Ohio on its year end December 31, 2013 income statement is:
Journalize the Transactions and Posting them into ledger and Preparation of Trial Balance.
What are the most important risks for the audit of the acquisition and payment cycles in the automotive industry?
Compute the day’s sales uncollected for both companies as of the end of current period. Which company is doing a better job in managing the collection of its receivables?
Kristen's AGI is $120,000 before considering effect of rental activity. What is Kristen's AGI after considering the tax effect of rental use of her home?
What are the differences between regular and irregular items on income statement? What are the requirements for items to qualify as irregular?
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