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Question - In performing accounting services for small businesses, you encounter these situations pertaining to cash sales.
1. Blossom Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $1,500.
2. Nash Company does not segregate sales and sales taxes. Its register total for April 15 is $21,200, which includes a 6% sales tax.
Required - Prepare the entries to record the sales transactions and related taxes for each client.
Jag, Lee and Bench are partners having the following capital balances of P 11,200, P13,000 and P5,800 respectively. How much is the total loss on realization
a. What is the price (expressed as a percentage of the face value) of a one-year, zero-coupon corporate bond with a AAA rating?b. What is the credit spread on AAA-rated corporate bonds?c. What is the credit spread on B-rated corporate bonds?d. How do..
During the past two years, through extensive advertising and improved customer relations, Orange Corporation estimated that it had developed customer goodwill
write a 750- to 1050-word paper in apa format including citations and references summarizing your ideas about internal
On April 30, 2018, Quality Appliances purchased equipment for $262,000. Quality calculates partial year depreciation based on the number of months
What is the depreciation expense for each for the following years under i) straight-line depreciation method ii) double-declining balance method
Lamba Corporation reports the following items for book and tax purposes in its first year of operations (year 1).
Greg Jones lives in New York City and has the opportunity to rent his condominium during the 2010 Olympic Games. What is your advice to Greg
Rajiv was interested in computers and would find time to always work on computers either at college or at his friend's place.
Suppose 30% of business majors major in accounting. You take a random sample of 3 business majors.
All of the capital assets were stock in publicly traded corporations. Jane and Blair also have qualified dividend income of $3,000. What is couple's tax
How could an organization measure the effectiveness of their pay-for-performance plans?
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