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Problem - A Senior Citizens' Club runs a grocery shop. During the month of May 2003, the takings from the grocery were K8700 and grocery purchases were K6300. Inventories and creditors for the grocery purchases were as follows:
Inventory 1 May 1200
Inventories 31 May 1800
Creditors 1 May 600
Creditors 20 May 900
The grocery manager's pay for the month amounted to K1500. Prepare the grocery trading and profit and loss account for the month.
Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more likely than not that the deferred tax asset will be realized in full
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In the course of our audit of SOCIALDISTANCING Inc.'s cash in bank for the year ended December 31, 2019, What is the adjusted book balance on November
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Near the end of the current year, the company pays off its rent payable for $5,000. What is the impact of this payment on the company current ratio
This year Evan graduated from college, and took a job as a deliveryman in the city. Evan was paid a salary of $68,500 and he received $700 in hourly pay.
Net income for the year was $80,000. Assume that the company is not subject to federal, state, or local income tax. Prepare a balance sheet at December
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sunnie purchased 50 percent of the shares of corporation h a calendar year s corporation for 7000. she also guaranteed
The initial cost of the equipment for the project is $23,000, find the expected net cash flow from the project in the tenth year
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