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You are provided with the following information for Merrell Enterprises, effective as of its April 30, 2012, year-end. Accounts payable $?834 Accounts receivable 810 Accumulated depreciation-equipment 670 Cash 1,270 Common stock 900 Cost of goods sold 1,060 Depreciation expense $?335 Dividends 325 Equipment 2,420 Income tax expense 165 Income taxes payable 135 Insurance expense 210 Interest expense 400 Inventory 967 Land 3,100 Mortgage payable 3,500 Notes payable 61 Prepaid insurance 60 Retained earnings (beginning) 1,600 Sales revenue 5,100 Short-term investments 1,200 Salaries and wages expense 700 Salaries and wages payable 222
Instructions (a) Prepare an income statement and a retained earnings statement for Merrell Enterprises for the year ended April 30, 2012. Net income $2,230 Tot. current assets $4,307 Tot. assets $9,157 (b) Prepare a classified balance sheet for Merrell Enterprises as of April 30, 2012.
Write a summary of asset treatment in a business. Examine the aspects of acquisition, depreciation, revising periodic depreciation, expenditures during useful life, and the three different means of disposal.
Jenco Incorporated's only product is a combination fertilizer-weed killer called Fertikil. Fertikil is sold nationwide through normal marketing channels to retail nurseries and garden stores.
the inventory at june 1 and costs charged to work in process -department 60 during june are as follows3600 units 70
Stakeholders seem to expect auditors to detect accounting frauds, and yet auditors' opinions carefully avoid making that claim. If auditors can't deliver on stakeholder expectations, what value do they offer stakeholders?
Prepare Bank Reconciliation Statement as on 30th September
paige company has completed all of its operating budgets. the sales budget for the year shows 50000 units and total
Could a company lose to a competitor if they do not have real time online perpetual inventory records to provide answers to customers that are trying to place an order?
ABC Corporation purchased $15,000 of office furniture by putting $7,000 down in cash and the rest on account on April 8.
Write a 700-1500 word paper in APA format that addresses the following: Develop a unique proposal that describes a new health care system. Be sure to include your answers to the following: What is your vision for a new health care system?
the co. acquired a manufaturing facility on four acres of land for a lump sum price of 8000000. the building included
The actual variable factory overhead is $32,000. In the current period, 2500 units are produced at a standard time of 2 labor hours per unit. These units require 5,500 actual labor hours. What is the controllable variance?
aviss taxable income for the year is 300000 and bests taxable income for the year is 425000. for each of the scenarios
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