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Question - Silicon Chip Company's fiscal year-end is December 31. At the end of 2021, it owed employees $24,000 in salaries that will be paid on January 7, 2022.
Required -
1) Record the accrued salaries as of 12/31.
2) Record the payment of salaries on Jan 7 assuming a reversing entry is not made.
holding all other variables constant which of the following could cause a firms current ratio to decrease from 3.0 to
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Information from AGF Corporation, calculate AGF's contribution margin. Variable manufacturing overhead $170,000. Fixed manufacturing overhead $120,000.
Suppose that Badger's 2010 ending inventory, valued at year-end costs, was $143,000 and that the relative cost index for this inventory in 2010 was 1.10. In determining the inventory balance should Badger report in its 12/31/10 balance sheet:
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Fixed costs = $ 36,000; and Tax rate = 40%. What number of units should the firm sell to achieve an after tax target income of $ 6,000
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Caroline's Collectible computes a total of $6,720 in estimated losses as of December 31, 2016. How much bad debt expense Carolines Collectibles report
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