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EX 2- 1 Chart of accounts The following accounts appeared in recent financial statements of Continental Airlines: Accounts Payable Flight Equipment Air Traffic Liability Landing Fees ( Expense) Aircraft Fuel Expense Passenger Revenue Cargo and Mail Revenue Purchase Deposits for Flight Equipment Commissions ( Expense) Spare Parts and Supplies Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner's equity. For each income statement account, identify it as a revenue or an expense. EX 1- 24 Statement of cash flows A summary of cash flows for Absolute Consulting Group for the year ended July 31, 2012, is shown below. Cash receipts: Cash received from customers $ 187,500 Cash received from additional investment of owner 40,000 Cash payments: Cash paid for operating expenses 127,350 Cash paid for land 30,000 Cash paid to owner for personal use 5,000 The cash balance as of August 1, 2011, was $ 27,100. Prepare a statement of cash flows for Absolute Consulting Group for the year ended July 31, 2012.
Lab Kennels, Inc. and Wolman Developers have agreed to exchange two parcels of land and each will assume the other's mortgage on the parcel acquired. Lab owns 500 acres within city limits that has a value of $750,000 and a basis of $300,000.
oro company sells a single product at a price of 60 per unit. materials labor and variable overhead costs per unit are
Who would you say benefits more when a company prepares accurate and truthful financial statements?
in a separate paragraph explain why you think that garnishments are necessary or what alternatives to garnishments may
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ertified public accountants have imposed on themselves a rigorous code of professional conduct.1. discuss the reasons
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Identify the amount or the symbol that represents the dependent variable and the independent variable,
Received inventory valued at $16,000 and equipment with market value of $9,500 for $3,700 shares of the $2.00 par common stock. Journalize the transactions and Prepare the stockholders equity section
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