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A. The buffalo wildcats, a minor league football team, received $3000 from a fan on June 1 for 2013 season tickets. The wildcats play 10 home games. on December, 2013, the end of the fiscal year, the wildcats had played 6 home games. make the original entry to record the sale of this season ticket. than prepare the adjusting entry to record revenue earned at the end of the year.B. TSC Farm Supply sell log splitters. Each splitter sells for $5000 and TSC sold 20 for cash this quarter. It is estimated that the warranty expense is 3% of gross sales. TSC spent $200 in cash and $300 in parts (Inventory) to repair these log splitters this quarter. Prepare the journal entry to record the estimated warranty expense and the journal entry for the warranty repairs.C. John Deere purchased inventory on august 1, 2013, costing $40000 paying 4000 cash and signing an 8- month, 7% note payable. prepare the journal entry to record the purchase. The fiscal year ends on December 31, of the note. (you'll have to determine the payment date)D deKalb seeds had monthly sales of 773,000 in april, 2013, in Indiana. There is a 7% state sales tax. Record the following journal entries1. Record dekalb's sales entry.2. Record the entry that deKalb would make when they remit the state sales tax amount to indiana
What is a cybernetic control systems? describe the elements of cybernetic control systems.How do they relate to results/output controls?
Prepare a memo to Susan Apple, a tax partner for whom you are working, with the recommended treatment for the disputed income.
Dove Corporation had purchased the land as an investment three years ago for $375,000, and the land was distributed subject to a $270,000 liability. Alexandra took the land subject to the $270,000 liability. What is Alexandra's basis in the land?
For the month of March, the company planned for activity of 5,700 units, but the actual level of activity was 5,660 units. The actual selling and administrative expense for the month was $522,860.
Discuss the factors to consider when determining eligibility for the R&D Tax Credit. Discuss your reaction to the president's approach of R&D deduction related to the software training costs.
The common stock of EBM Corporation is $100 per share. The expected dividend on its stock in the current period is $5, and the firm's cost of common stock is 12%. What is the firm's dividend growth rate (assume that the growth rate is constant)?
The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its useful life with no salvage value. Cleaners requires a 10% rate of return. What is the approximate net present value of this investment?
Emily, one hundred (100) shares of stock and Frank, four hundred (400) shares of stock. Wren Corporation redeems one hundred fifty (150) of Frank's shares of stock (Adjusted Basis of $60,000) for $150,000. As a result of this transaction, which of..
On January 1, 2004, Foster Company sold property to Agler Company which originally cost Foster $570,000. There was no established exchange price for this property.
There are four steps in the auditor's process of understanding internal control and assessing control risk for a public company. The first step is to obtain and document an understanding of internal control: design and operation. What are the rema..
Finance Here Sales & Service provides leased-based financing for its full line of commercial generators. Sales of the generators are properly accounted for as operating sales-type leases.
The controlled access to files, programs, and documentation is a principal responsibility of which of the following functions? 32. Which of the following personnel security control plans is corrective in nature as opposed to being a preventive or ..
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