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Questions -
Q1. Journalize the business transaction for the Company's journal on 31st of December. Take into consideration that the Company prepares the adjusting journal entries on monthly bases. The Company pays the salaries expense of the previous week every upcoming Monday. The Company has 5 employees being paid $150 per day and 2 employees being paid $100 per day and all of them work from Monday to Friday. The last payment made from the Company was 28th of December 2020 for the week December 21st -December 27th. The next payment will be on January 4th, 2021. The journal entry on 31st of December is?
Q2. Journalize the business transaction for the Company's journal on 31st of December. Take into consideration that the Company prepares the adjusting journal entries on monthly bases.
Company took a note payable on 1st of January from A Bank for the value of $120.000 and an annual interest rate of 5%. The notes payable together with the interest expense are paid on 31st of December.
Q3. Journalize the business transactions for the Company's journal on 31st of December. Take into consideration that the company prepares the adjusting journal entries on monthly bases. On December 31st company has generated a Net Income of $5.000 and a total of Expenses $25.000. Prepare the closing entries for the revenues of the company.
The coupon rate is 8% and the bonds mature in 5years. The market rate of interest is 12%. Compute the amount of interest revenue earned
jws transport companys employees earn vacation time at the rate of 1 hour per 40-hour work period. the vacation pay
Explain how each category of economic interest would be accounted for in the summary financial statements of the government
Filkins Fabric Company is considering the replacement of its old, fully depreciated knitting machine. Two new models are available: Machine 190-3.
1. on january 1 2010 sandro signed an agreement to operate as a franchisee of hsian copy service inc. for an initial
Discuss the impact that the above events may have on the public perception of the integrity, objectivity and independence of the multinational firm
Abbotsford Ltd., a sports equipment wholesaler, sold $350,000 of merchandise to a customer on November 14, 2017. What is the gross profit recognized in November
Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. How much of these funds may Jimmy withdraw tax-free
List all the entries made by Spectacor in the final year of the lease.
Mission Beach Bananas Pty Ltd has a dividend policy whereby it will increase the dividend by $1.25. What will be the current price of Mission Beach Bananas
What this can do is take the worry of external compliance problems and legal obligations from you and put it in the hands of your industry
How would you describe your chosen company's dividend policy? Why do you believe this company chose the dividend policy they have in place?
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