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Pho Saigon Noodles and Catering accumulates the following adjustment data at December 31. 1. Services provided but unbilled total $750. 2. Food supplies of $300 have been used. 3. Utility expenses of $300 are unpaid. 4. Unearned revenue of $450 has been earned. 5. Salaries of $1,000 are unpaid. 6. Prepaid insurance totaling $445 has expired. Instructions For each of the above items, indicate the following.
(a) The type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).
(b) The accounts before adjustment (overstatement or understatement).
Determine the present value index for each proposal. Round your answers to two decimal places.
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Identify the committees of the AICPA that established accounting principles prior to the establishment of the FASB and speculate as to why these two organizations failed.
Prepare the stockholders equity section at December 31 - Charlatans Corporation had the following stockholders equity accounts
Determine the number of units of product K to be manufactured in May and compute the May cash outlay for purchases of raw material A.
Calculate the first year's net earnings under the cash basis of accounting, and calculate the first year's net earnings under the accrual basis of accounting.
Purpose the cash flows from the operating activities
How does it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction?
Supplementary office equipment costing $600 was purchased on credit from Discount Computer Corporation.
a chair manufacturer has established the subsequent flexible budget for the month. units produced and sold 1000 1500
homestyle soup co. uses a process cost system to record the costs of processing soup which requires the cooking and
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