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1.On September 11, 2012, Home Store sells a mower for $500 with a one year warranty that covers parts. Warranty expense is estimated at 8% of sales. On July 24, 2013, the mower is brought in for repairs covered under the warranty requiring $35 in materials taken from the Repair Parts Inventory. Prepare the September 11, 2012, entry to record the mower sale, and the July 24, 2013, entry to record the warranty repairs.
in eight years kent duncan will retire. he is exploring the possibility of opening a self-service car wash. the car
If the hurricane hits our business, we can reasonably be assuredthat we will incur a $2 million loss. We want to finish closing March's books. Should we record the $2million loss? Why or why not?
Determine the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements.
for longeis company variable costs are 69 of sales and fixed costs are 208520. managements net income goal is 80214.
Was NGS more profitable in 2016 or 2015? Use the gross profit percentage, return on equity, and fixed asset turnover ratio to help in making a decision. Was NGS more liquid in 2016 or 2015? Use the current ratio to help in making a decision.
purchased 100000 of u.s. treasury 6 bonds paying 102 plus accrued interest of 1000. the security is to be held
sunday corporation prepared the following performance report for variable overhead costs for the last quarter of the
In a detail response, what violations of internal controls (using documentation), and accounting regulations, could have been violated? Please response as if the CPA firm may have been in violation of AICPA rules or other related organizations. A..
section1. which of the following is ordinarily considered an extended procedure in external auditors independent audits
Portsche Snow Removal's cost formula for its vehicle operating cost is $2,310 per month plus $317 per snow-day. For the month of November, the company planned for activity of 18 snow-days, but the actual level of activity was 20 snow-days. The act..
What is the purpose of the unrelated business income tax?
information on the actual sales and inventory purchases of the law company for the first quarter followsales inventory
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