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1. Journalize the following transactions of Funhouse Productions:
July 8. Received a $120,000, 90-day, 8% note dated July 8 from Mystic Mermaid Company on account.
Oct. 6. The note is dishonored by Mystic Mermaid Company.
Nov. 5. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Mystic Mermaid Company on October 6.
the campers edge factory produces two products - canopies and tents. it has two separate departments - cutting and
Under IFRS, an entity should initially recognize inventory when:A)it has control of the inventory. B) it expects it to provide future economic benefits. C)all of these choices are correct. D)the cost of the inventory can be reliably measured.
manufacturing statements and cost behavior tampa foundry began operations during the current year manufacturing various
Prepare a contribution margin/variable income statement in good form to show the sales mix stated and the contribution margins for each product as well as the contribution margin for the company. The time frame is next year.
Based on the definition of auditing and the four generally accepted reporting standards as well as the text discussion of these items, do you think users of financial statements should expect those statements should expect those statements to be f..
Lemon, Inc. has earnings per share of $3.56 for the year 2009. Orange, Inc., its competitor, has earnings per share of $4.78 for the same period. Which of the following are possible explanations for the higher earnings per share of Orange, Inc.?
challenges to convergence of igaap with u.s. gaap include all of the following except-political issues result in
1. identify the ethical and legal issues of which gerard needs to be aware.2. discuss the advantages and disadvantages
The office equipment has a 5-year life with no salvage value. It is being depreciated at $295 per month for 60 months. Invoices representing $1,005 of services performed during the month have not been recorded as of June 30. (a) Prepare the adjusting..
The CEO of your company has asked you to prepare a written presentation to be given at the next board of directors meeting on why different types of cost information need to be reported to support different managerial purposes and decisions. In a ..
wissota co. applies overhead based on direct labor hours. the variable overhead standard is 4 hours at 6 per hour.
Communicating in the workplace coupled with advances in technology provides a vast array of communication outlets. Various forms include formal writing, cell phones, pagers, e-mail, snail mail, and a culmination of social media networks. As indivi..
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