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Question - Prepare for the necessary adjusting entries at December 31st 2011 for ABC company for each of the following situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded.
On April 1st 2011, the company borrowed $100,000 from the bank. The note requires principal and interest at 8% to be paid on March 30th 2012 (Hint: only consider the journal entries on December 31st 2011).
the april cash record of donald insurance followcash
for this we must do tasks related to a retail store selling dvds. this business is relatively simple with approximately
The City of Bell entered into a lease agreement on December 31, Year 4, to acquire a capital asset. What amount should be debited to expenditures control
the house company was organized on july 1 1985. on december 15 of the current year it repurchased 100000 shares of its
Harry and Janice were already domiciled in Nevada when they were married on March 1,20x1. During January and February , Harry earned $3820 and Janice earned.
Resty Company manufactures a product that goes through two departments prior to completion: the Mixing Department and the Packaging Department.
Determine the total sales and the total cost of merchandise sold for the period. Determine the gross profit from sales for the period
X owns 100% of the common shares of Y. Both companies pay income tax at the rate of 40%. What adjustment should be made to income tax expense
Prepare the cash payment and interest expense entries for Purchase b at March 31, 2020, and June 30, 2020. If an amount box does not require an entry
What are interim reports? Why are balance sheets often not provided with interim data?
Spencer Co. has a $260 petty cash fund. The fund has a balance of $42. Prepare the journal entry to record the reimbursement of the account
Prepare a statement of cash flows using the indirect method. Flood damage is unusual and infrequent in that part of the country
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