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1. Smith Software began with cash of $11,000. Smith then bought supplies for $2,400 on account. Separately, Smith paid $5,500 for a computer. Answer these questions.
a. How much in total assets does Smith have?
b. How much in liabilities does Smith owe?
2. Bill Hooper opened a software consulting firm that immediately paid $6,000 for a computer. Was Hooper’s computer an expense of the business? If not, explain.
Assuming that Reed's can improve its operations to be in line with the industry averages, construct a 1995 pro forma income statement.
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BR's gross receipts were $4.6 million, $5 million, $6 million, and $7 million, respectively, for the four tax years ending in 2009, 2010, 2011, and 2012. Describe the methods of accounting available to BR in each tax year.
on 1st april 20x7 miller oil company purchased a pumping truck. the sole consideration was a 100000 note due in one
Use the expanded accounting equation to compute the missing quantity.
Assume that a buyer receives a shipment of MODEL SD010 with an invoice amount of $780, although $870 worth of goods were received. The purchase order was for $870. Since the difference was in the buyer's favor, the buyer's purchasing department s..
Modify the Excel Solver model solverRM2.xls and the AMPL model to account for the new situation and determine the optimum solution. Compare additional effort associated with each modification.
the mccracken county humane society mchs which is part of a countys reporting entity established a permanent fund to
question margarets adjusted basis in her 50 interest in mp partnership a common partnership was 10000. during 2012
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golden bells inc. is a foreign subsidiary of northern bells ltd. a canadian company.nbsp northern bells had purchased
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