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Question - On August 31, Crane Company had an unadjusted cash balance of $7,400. An examination of the August bank statement shows a balance of $6,230 on August 31, bank service charges of $25, deposits in transit of $2,670, interest earned of $10, outstanding cheques of $1,715, and an NSF cheque of $200. Prepare a bank reconciliation at August 31.
Bayani Company is planning to sell 100,000 units for $3 a unit and will just breakeven at this level of sales. The contribution margin ratio is 40%. How much are the company's fixed costs?
Prepare the journal entries that would be made by Bell on November 2, December 31, and March 1 to record the sale, adjust the accounts related
The market value of the bonds without the warrants is $950,000. How much should the company record as the value of the warrants
The following information is obtained from the income statement of Battery Builders: Prepare a complete accrual-basis income statement for the current year
Burns is compensated at $5,000 per year. The net income of the year is $25,000. What is the ending capital balance of Burns for the first year
A supplier has offered to provide the tables for $150 each. What price reduction must be negotiated with the supplier to meet the expected cost
ABC Co. purchased $5,000 of inventory on account with payment terms of 2/10, n/30. What would be the balance in the inventory account
uncle harry called you to let you know that he intends to sell his beautiful ski chalet in sun valley four years from
Prepare the income tax expense section of the income statement for 2010, beginning with "Income before income taxes
At the end of the? year, Speedy had $600 of printing supplies remaining. Record the journal entry for the purchase of printing supplies
Smith Corp has a selling price of $15, variable costs of $10 per unit, and fixed costs of $25,000. Contribution margin is $60,000. How many units did Smith sell
Clear Panes receives an external special order for 10,000 units at $120 each. If the order is accepted, Clear Panes will have to incur incremental fixed costs.
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