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1. If a check correctly written and paid by the bank for $628 is incorrectly recorded on the company's books for $682, the appropriate treatment on the bank reconciliation would be tosubtract $54 from the book's balance.deduct $54 from the bank's balance.deduct $628 from the book's balance.add $54 to the book's balance.2. A $200 petty cash fund has cash of $37 and receipts of $160. The journal entry to replenish the account would include acredit to Cash for $160.debit to Cash Over and Short for $3.debit to Cash for $160.credit to Petty Cash for $163.3. A $200 petty cash fund has cash of $26 and receipts of $170. The journal entry to replenish the account would includecredit to Cash for $174.debit to Petty Cash for $174.credit to Petty Cash for $170.debit to Cash for $170.4.The expense recognition principle relates to credit losses by stating that bad debt expense should be recordedin the period of the sale.or an exact amount.in the period of the loss.in the same period as allowed for tax purposes.5. Equipment with a cost of $225,000 has an estimated salvage value of $15,000 and an estimated life of 4 years or 10,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours?$56,700.$56,250.$54,375.$52,500. Required minimum-1 page
On March 1, 2010, Freeze Company hires a new employee who will start to work on March 6. The employee will be paid on the last day of each month. Should a journal entry be made on March 6? Why or why not?
Discuss the rationale underlying the design of the performance report you chose.
Identify and describe the general formula for calculating the adjusted basis of property. What is Leon's recognized gain
A Kubota tractor acquired on January 9 at a cost of $75,000 has an estimated useful life of 20 years. Assuming that it will have no residual value, determine the depreciation for each of the first two years:
Determine which regional managers should receive bonuses if bonuses are awarded to regional managers whose return on investment (ROI) exceeds 10%. Be sure to show all your work. (this company defines invested capital as total assets minus current ..
Which method is generally accepted? Why do you think this method is generally accepted? Explain your position.
A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is ??
If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2010, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income is:
Which of the following items is normally translated the same way under both the current and temporal methods of translation?
Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.
Dean signed an agreement to sell the plant for $350,000 January 1 year 10 and Lease it back for $15,000 per year, deans incremental borrowing rate is 6%. Present value factors for annuity
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