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Preparation of Journal entries.
Prepare journal entries to record the following transactions:
(a.) Purchased $3,500 of supplies on account (b.) Paid $4,800 for a two-year insurance policy (c.) Performed a service and immediately collected $600 (d.) Paid the monthly utility bill, $200 (e.) Paid one-half of the amount owed for the supplies purchased in (a) above (f.) Performed a service and billed the customer $800 (g.) Borrowed $1,000 by signing a note payable (h.) Received the amount owed from the customer of (f) above
Assume that variable expenses are reduced by 20% per unit, and the total fixed expenses are increased by 10%. Find the sales in units to achieve a profit of $20,000, assuming no change in selling price.
Purpose an entry Parchment needs to make and compute the balance in Parchment's investment in Silky account. (Do not round calculations of new interest).
Evaluate the selling price per unit. Which of the following is not a difference between financial accounting and managerial accounting?
Determine the average return for Treasury bills and the average annual inflation rate (consumer price index) for this period. (Do not include the percent sign (%). Round your answers to 2 decimal places, e.g. 32.16.)
Determine the net benefit of outsourcing the electric motors from Mini Motor Company.
Show entries to record the selected transactions described Issued $3,250,000 of 10-year, 8% bonds at 97.
Describe how the Accounting Equation is impacted
Cost flow assumptions - FIFO and LIFO using a periodic system. Mower Blowers coy started business on Jan 20, 2009. Products sold were snow blowers and lawn mowers. Each product sold for $350
Evaluation of internal control criteria and For each of these five separate cases, identify the principle of internal control that is violated.
Determine the interest expense has accrued on the bank loan and By what amount will the book value of the office equipment decline after the appropriate December adjustment is recorded?
Computation of Free Cash Flow
Evaluate the equivalent units of product for (1) materials and (2) conversion cost for each month and calculate the physical units for January and May.
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