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On December 12, 2011, an investment costing $80,000 was sold for $100,000. The total of the sale proceeds was credited to the investment account.
Required:
1. Prepare the journal entry to correct the error assuming it is discovered before the books are adjusted or closed in 2011. (Ignore income taxes.)
2. Prepare the journal entry to correct the error assuming it is not discovered until early 2012. (Ignore income taxes.)
the 2011 balance sheet of annas tennis shop inc showed 490000 in common stock account and 3.4 million in the additional
given the adjusted trial balance below prepare in good form an income statement statement of retained earnings and
Explain why the income statement uses different terminology to date the income statement than is used to date the balance sheet.
Garrett Corporation holds as a long-term investment available-for-sale stock securities costing $72,000. At December 31, 2011, the fair value of the securities is $66,000. Prepare the adjusting entry to record the securities at fair value.
Each Student is to individually complete and submit a research Paper as part of their Final Grade. The subject of this Paper is to be on a legal subject related to forensic accounting, such as money laundering, terrorist financing, tax fraud, inte..
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The Pelican Corporation provided the following information for 2014, in $ millions: The company paid no interest during the year, and there were no changes to current liabilities. Compute the Operating Cash Flow (OCF) of the company.
a company issued 5 20-year bonds with a face amount of 80 million. the market yield for bonds of similar risk and
mazzo corporation makes a product with the following standards for direct labor and variable overhead
sanchez corporation uses the weighted-average method in its process costing system. the fitting department is the
Managment wants to lower the firm's break-even point to 52,000 units all other thing being equal. what must happen to fixed costs to archieve this objective?
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