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Prepare journal entries and financial statement for the year ended December 31, 2014. No adjusting entries have been made since December 31, 2013.
1. Company A rented idle office space to Company B on February 1, 2014, at a rate of $1300 per month. on this date Company A credited unearned rent revenue for one year of rent recieved in advance.
2. Company A is open five days a week and has a daily payroll of $2200. Employees are paid every Friday. December 31 is a Wednesday. The payroll is allocated as follows: 12% of the payroll relates to office employees, and the balances relates to sales employees.
Jill Parsons purchases for $72,000 Jamar"s interest in the Tholen-Jamar partnership. Assuming that Jamar has a $68,000 capital balance in the partnership, what journal entry is made by the partnership to record this transaction?
The fixed costs for the plane are $3,000 per day whether it flies or not. A) Should the airline replace its night flight from Los Angeles with a morning flight? b) Should the airline remain in business?
Prepare the schedules for each month in the first quarter of 2010 and for the quarter in total expected collections from clients.
Determine how many new clients must visit the law office being considered by Terry Smith and his colleagues in order for the venture to break even during its first year of operations.
Determine the net operating profit or loss for the business. Provide detailed assumptions to support each line item in your Proforma P&L Statement.
BBC incurred $200,000 in accounting fees and $50,000 in banking fees related to this transaction. Illustrate what amounts should BBC record for the bonds upon issuance using US GAAP and IFRS?
Discuss the necessary preparation and planning for the Lily Company annual audit before beginning field work at the client's office.
mate boomerang corporation manufactures and sells plastic boomerangs. expected boomerang sales in units for the
from the books of aggarwal bors the following information have been extracted rs. sales 240000 variable costs 144000
Find out how deferred taxes would be reported using IFRS at the time of your research. Explain why that approach might differ from the way British Airways reported deferred taxes at March 31, 2009.
basics of importance of dates related to dividend.1.nbspmatterhorn companys charter allows it to sell 250000 shares of
Where does the account Unearned Revenue appear in the financial statements? How does Unearned Revenue link Cash with Sales Revenue?
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