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Problem
Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.
July 1 Stockholders invested $19,000 cash in the business in exchange for common stock. 1 Purchased a used truck for $11,000, paying $2,900 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. 5 Paid $2,208 on a 1-year insurance policy, effective July 1. 12 Billed customers $3,500 for cleaning services. 18 Paid $1,300 of amount owed on truck, and $260 of amount owed on cleaning supplies. 20 Paid $1,500 for employee salaries. 21 Collected $1,800 from customers billed on July 12. 25 Billed customers $1,800 for cleaning services. 31 Paid gasoline for the month on the truck, $400. 31 Declared and paid a $700 cash dividend.
Prepare the retained earnings statement for July 31, 2017.
Prepare entries to record the purchase of the land, the cost and installation of machinery, the first five month's depletion assuming the land has a net salvage value of zero after the ore is mined
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Proficient-level: A deposit of $350 earns the following interest rates: 8 percent in the first year. What would be the third year future value?
On June 30, 2013, Sweet Tooth Company purchases chocolate candies from a foreign supplier for 50,000 foreign currency, payable in 60 days. On June 30, 1 FC is worth P.6498; by August 30, the day of settlement, 1 FC is worth P.6256. The 60-day ..
How would accepting the order affect the bottom line of the company?
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Assume that their adjusted gross income is $479,900 and their itemized deductions remain the same. What is their 2016 taxable income?
What is the total amount of interest Jason's Deli earned from the loan to Mark Johnson?
Identify potential threat(s) to independence & recommend safeguards
Konerko Industries had the following transactions.1. Borrowed $5,000 from the bank by signing a note.2. Paid $2,500 cash for a computer.3. Purchased $700 of supplies on account.
Discuss How much would the safety net accumulate to in five years
Which of the following would appear as a prior period adjustment. loss resulting from the sale of fixed assets. difference between the actual and estimated uncollectible accounts receivable. error in the computation of depreciation expense in the pre..
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