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Assume the following transactions occurred during the year. The annual accounting period ends on December 31.
Jan. 15
Purchased and paid for merchandise for resale at an invoice cost of $15,600. A periodic inventory system is used.
Apr. 1
Borrowed $800,000 from a bank for general use, executing a one-year, 5% note payable
June 14
Received a $12,000 customer deposit for services to be performed in the future.
July 15
Performed $4,250 of the services paid for on June 14.
Dec. 15
Received an electric bill for $25,680. The bill will be paid in early January.
Dec. 31
Determined wages owed to employees to be $13,500 that will be paid on January 2.
Required:
Prepare journal entries for each of the transactions listed. Prepare any required adjusting entries on December 31.
A street light is mounted at the top of a 17 ft tall pole. A woman 6 ft tall walks away from the pole with a speed of 8 ft/sec along a straight path
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Use the simplex method to determine the optimal production schedule so as to maximize profits. Show that the geometric method gives the same solution.
Water is flowing into the tank at the rate of 10 pi cubic feet per minute. Express the volume of water in the tank as a function of its height.
after darlene bowled 2 more games her mean score for all 6 games was 135. what could her scores for each of those 2 games have been?
A random sample of 70 voters found that 38% were going to vote for a certain candidate. Find the 95% limit for the population proportion of voters who will vote
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What is your average daily balance at the end of the month on this card? Hint: You will need to research and find the cost of gas and food in order to solve this. Use the national average as of four months before the date Assignment is due. For in..
What are the dimensions of a closed rectangular box that has a square cross section, a capacity of 104 in. cubed, and is constructed using the least amount of material? (Round your answers to two decimal places.)
if a ship is off shore a length of 18 miles to observe, bearings are 35E & 37 E. what is the shortest distance to shore.
Jim Smith believes in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today to reach his retirement goal?
Find the standard deviation of this sample of distances. Round your answer to at least two decimal places
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