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Question 1: Prepare general journal entries for the following transactions of Laurier Company, who use the perpetual inventory system:
Apr. 1
Sold $12,500 of merchandise (Cost $10,500) to flight Co., receiving a 10%, 120-day note.
15
Wrote off $2,000 owed by FCB Co. as worthless. (The allowance method of accounting for bad debts is used.)
30
Received a $10,800, 10%, 30-day note receivable from Cruise Co. as an extension of credit.
Which of the following would be acting in a fiduciary capacity? An investment broker conducting transactions A bookkeeper recording transactions A salesman attempting to get his customer the best price A cashier accepting payments
Arrow Products typically earns a contribution margin ratio of 25 percent and has current fixed cost of $80,000. Start a new ad campaign that is expected to increase sales revenue by 5 percent. License a new computerized ordering system that is expect..
Explain the adjustment that must be made in the Statement of profit or loss and other comprehensive income as a consequence the gain on the sale
Give a description of someone who files a Schedule C in taxes. Make sure to include details about items used to identify the person filing a Sch C, the kind of taxes to pay, forms to file with due dates, accounting method(s), participation, determini..
What is the cell formula used to calculate future projected operating income on excel? For example to project calculate profit margin is
What kind of managerial accounting information is used to make a business decision of manufacturing versus purchasing from an outside source?
Prepare an analysis showing whether the old machine should be retained or replaced.(If an amount reduces the net income
Ocean Division currently earns $780,000 and has divisional assets of $3.9 million. The division manager is considering the acquisition of a new asset that will add to profit. The investment has a cost of $675,000 and will have a yearly cash flow of $..
How much of the materials in above consisted of indirect materials and how much of the factory labor cost for the year consisted of indirect labor?
Delta Company sells high-end laser printers for $5,000 each. They also offer the option to lease the printers for five years. The computers cost Delta $3,500 to manufacture. On January 1, 2014, Delta leased 10 computers to ABC, and required that the ..
Prepare journal entry for 2012 through 2015? (Included: income tax expense, income tax payable, deferred tax liability.
Obtain the value of h from the annual percentage rate table. Then use the actuarial method to find the amount of unearned? interest
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