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Three Turtles Company's perpetual inventory records indicate that $543,735 of merchandise should be on hand on August 31, 2008. The physical inventory indicates that $520,250 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Three Turtles Company for the year ended August 31, 2008.
In addition, Austin estimates that the new machine will increase the company's annual net cash inflows by $35,000. The machine will have a 12-year useful life and no salvage value.
The SEC has always wanted and expected more information and disclosure in the financial statements.
Record the 2011 entries for the purchase of the machine and the lease on the books of Grande machinery and for Sunshine Engineering.
While examining cash receipts information, the accounting department determined the following information: opening cash balance $178.24, cash on hand $1,134.46, and cash sales per register tape $1,156.35.
Staley Company has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Staley used 3,100 pounds of materials at a total cost of $12,090. Staley's materials price variance is:
the internal revenue code is the most authoritative source of income tax law. in trying to resolve an income tax
seamark buys 300000 of eiders 8 five-year bonds payable at par value on september 1. interest payments are made
Lake Shuttle Inc. is considering investing in two new vans that are expected to generate combined cash inflows of $20,000 per year. The vans' combined purchase price is $65,000. The expected life and salvage value of each are four years and $15,00..
50 000 units were received from preceding department 9000units were still in process at the end of month complete
1. Prepare the journal entries to correct the errors (ignore income taxes). 2. Prepare the journal entries to record 2009 depreciation for any assets record in requirement.
The two questions listed below are from the 15 edition, Wilson. Accounting for government and nonprofit entities.
What is a point of sale system? Does a point of sale system increase or decrease the likelihood that cash will be stolen by employees? Explain.
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