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Problem - Prepare the income statement and statement of retained earnings for the year ended July 31, 2018 as well as the balance sheet as of July 31, 2018.
Land $25,000
Accounts payable 17,500
Accounts receivable 19,000
Service revenue 450,000
Note payable (long term) 45,000
Advertising expense 10,000
Supplies on hand 1,200
Common shares 10,000
Building 175,000
Telephone expense 2,800
Insurance expense 1,500
Cash 22,600
Salary expense 295,000
Office expense 12,000
Income tax payable 20,000
Income tax expense 20,000
Dividends 10,000
Additional information: Retained earnings, July 31, 2017$ 51,600.
Pressure current customers to take early delivery of goods before the end of the year so that more revenue can be reported in this year's financial statements.
Customer Satisfaction Strategies." I understand the seminar will take place March 15 and will require you to miss a full day of work. This memo is to inform the staff that Ellen Tucker, Ryan Ho, and Sal Avila will be gone March 15 to attend the co..
Pearl Company sells $1,000,000 general obligation bonds for 101. Calculate the amount that the company will actually receive from the sale of the bonds
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Beginning net accounts receivable of $300,000, and ending net accounts receivable of $200,000. What is the days' sales in accounts receivable?
the units of an available for sale during the year were as followsjan. 1 inventory 42 units at 60mar. 10 purchase 58
1. which one of the following is not necessary in order for a corporation to pay a cash dividend?nbspnbspnbspnbsp a.
It is the end of the accounting period, and your boss asks you to help determine the inventory balance to place in the company's balance sheet. Explain which physical quantities of inventory that you will include, and which you will exclude.
What was Rusty Co.'s unit variable cost of E, Rusty Co. sells two products, X and Y. Last year
Smith Company issued $540,000 par value, 10-year, 7% bonds on February 1, 2018. Please list accounts on how they should be recorded
Prepare statement of cash flows. Accounts receivable Beginning of year $720,000.Interest receivable Beginning of year $6,000.
What is the markup on variable costs needed to break even? What is the markup on variable costs needed to obtain a target profit of $75,000
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