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Looking for a little bit of clarification on these latter questions :
Nicknack's annual fire insurance policy of $2,400 was paid on April 1, 2014 and was fully expensed at that time.DR Prepaid Exp - 2400CR Insurance EXp 2400
On June 1, 2014 Nicknacks lent a long-time employee $15,000. She signed a promissory note agreeing to repay the amount on May 31, 2017. The interest rate is 5% per year with interest payable every May 31.
Cr Cash 15,00Dr Notes Receivable 15,000
CR Int. Rev. (15,000 x .05) (3)= 2250Dr Int Rev. 2250 (AR)
Rent of $5,000 per month has not been paid or recorded for the last two months.
DR Rent Exp 10,000
CR AP 10,000
Prepare the consolidation journal entries for December, Matthews Co. obtained ninety percent of the common stock of Jackson Co. on January 1, 2016
Using vertical analysis, prepare a common size comparative balance sheet.
If 10,600 units are sold, what is the variable cost per unit sold? What is the total amount of variable costs related to the units sold?
The accountant for the Orion Sales Company is preparing the income statement for 2007 and the balance sheet at December 31, 2007. Orion uses the periodic inventory system. The January 1, 2007 merchandise inventory balance will appear:
the pc supply company manufactures memory cards that sell to wholesalers for 2.00 each. variable and fixed costs are as
Consider the following brief descriptions of four companies, listed alphabetically, from different industries.
How much ordinary income does Albert have? Long-term capital gain? 25% gain?
pierres hair salon is considering opening a new location in french lick california. the cost of building a new salon is
Lee Company purchased goods with the following terms and details:Sales price, $7,000, ompute the amount that Lee Company has to pay to the seller for the goods
Please discuss the value of the accounting cycle to the including:
the actual cash received during the week ended june 7 for cash sales was 18632.00 and the amount indicated by the cash
A business friend of yours who does not know much about accountancy has a holding of 1,000 ordinary shares in a pubhc company and asks you to explain certain.
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