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Question - At the end of 2020, Boot Corporation recorded estimated future returns in the amount of $41,000. In 2021, the company received returns of merchandise with total sales value of $98,000, of which $39,000 were related to 2020 sales. The company estimates the cost of merchandise at 52% of sales.
Required -
a. Prepare the entry to record returns of merchandise sold PRIOR TO 2021.
b. Prepare the entry to record returns of merchandise sold DURING 2021.
Prepare journal entries relating to the stock option plan for the years 2016 through 2019. Assume that the employees perform services equally
When a plant asset is retired from productive service, (without any sale) that originally cost $100,000 and had accumulated depreciation of $80,000, the correct accounting treatment is what?
shamrock company had net income of 34000. on january 1 there were 8400 shares of common stock outstanding. on april 1
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Prepare a horizontal analysis of the comparative balance sheet of Atlantis Inc. Round percentage changes to one decimal place. Upload your Excel Document.
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P7,800 was recorded in both the utilities expense account and cash on hand account as P8,700. What is the journal entry the correct the error?
Assume the same information in RE112, except that Akron Incorporated purchased the asset on September 1, Year 1 instead of January 1, Year 1. Calculate the depreciation for Year 1 and Year 2 using the sum of theyears'digits method.
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