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Palmona Co. establishes a $220 petty cash fund on January 1. On January 8, the fund shows $125 in cash along with receipts for the following expenditures: postage, $41; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $30. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entry to establish the fund on January 1, reimburse it on January 8, and reimburse the fund and increase it to $270 on January 8, assuming no entry in part 2. (Hint: Make two separate entries for part 3.)
On January 1, 2008, Boston Enterprises issues bonds that have a$3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par.
A company delivered $10,000 of goods to a customer that agreed to pay cash within 30 days. The goods had cost $8,000 to manufacture. Which of the following items would be increased by this sales transaction
on april 30 2012 one year before maturity red products inc. retired 150000 of 8 bonds payable at 103. the book value of
below you will find selected information in millions from coca-cola co.s 2012 annual report income taxes
for all questions complete this part first. draw a demand and supply graph. be sure to label the vertical y axes as
star corporation issued both common and preferred stock during 20x6. the stockholders equity sections of the companys
Explain how recording the share issue costs differs from the way debt issue costs are recorded.
On March 1, Maria purchased a new laptop computer for her business at a cost of $1,850. Maria also purchased a new laser printer/photocopier combination at a cost of $840 on the same date. In April, Maria purchased computer software to use in he..
At the end of your accounting cycle, you have $500,000 in customer deposits. How do you state and properly account for this activity in your financial statements?
hilton corp. is a manufacturer of truck trailers. on january 1 2011 hilton corp. leases ten trailers to lima company
the text indicates that beta is the masure of the risk of a firm. risky firms have betas above 1 and firms with less
She argues that only adjusting entries are needed to determine the company's earnings. Explain the purposes of closing entries and why they are worth doing.
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