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Questions -
Q1. Alpha Mining Company recognizes $2 of depletion for each ton of ore mined. During 2016, 850,000 tons of ore were mined and 725,000 tons were sold. Using this information, how much should be recorded for FY 2016 for the following accounts:
1. Accumulated Depletion
2. Inventory
3. Cost of Goods Sold
Q2. On January 2, 2016, Alpha Company purchased a patent for $38,500 plus $2,000 in legal fees. On that date, the patent had a remaining legal life of 13 years. Alpha Company expects to use the patent for six years. Use this information to prepare the General Journal entry (without explanation) for December 31, 2016 end of the year adjusting entry. If no entry is required then write "No Entry Required."
A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.
What amount should be recorded as bad debt expense for the current year
Question - Run Dog operates a chain of grooming salons for pets. Compute the contribution margin ratio
Guardian Security Services was established on January 15, 2014, to provide security services. The services provided during the remainder of the month are listed below. Jan. 18. Issued Invoice No. 1 to Murphy Co. for $490 on account. 20. Issued ..
Hulse's sales journal for January shows a total of $110,000 in the selling price column, Compute the January balance for Hulse in Accounts Payable
Please prepare journal entries for Laplante to record (1) the sale on October 2, 2019, (2) the granting of the allowance on October 16, 2019
Gardial & Son has an ROA of 12%, a 5% profit margin, and a return on equity equal to 20%. What is the company's total assets turnover? What is the firm's equity multiplier?
Define what you understand by the term, `Strategic management accounting'; critically evaluate any academic literature and refer to recent developments on the subject.
1 an activity that has a direct cause-effect relationship with the resources consumed is an 2 a well-designed
Prepare journal entries to record the transactions described above.
Section 404 of SOX requires a public company's annual report to include an internal control report. What are the two required components of management's report on internal control
How The audit procedure of confirmation is least appropriate with respect to The trustee of an issue of bonds payable. Holders of common stock.
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