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Eager Co. receives $20,000 cash in advance for 4 months of legal services on October 1, 2011, and records it by debiting Cash and crediting Unearned Revenue both for $20,000. It is now December 31, 2011, and Eager has provided legal services as planned. What adjusting entry should Eager make to account for the work performed from October 1 through December 31, 2011?
Does Triton owe the bank the amount you have calculated for the net service credit/(debit), or can it carry this amount forward to offset future shortfalls?
The directors are wondering why we complicate a very simple way of calculating long service leave – why not “stick with” recognising the expense when we pay for it? What do you think we should do?
Compute the price of a bond and Compute the total value of the 90 bonds.
Purpose the journal entry to record the impairment loss, if any, and show where the loss would be reported in the income statement.
John thinks the losses were particulary large because his company has too much fixed assets. Expand on johns thoughts. Explain how the large bosses related to fixed costs? identify a way that john can turn potential fixed costs into variable costs
Find the effect of the presence of a defense in connection with a negotiable instrument and Who is discharged if a holder strikes out a prior indorsement on a negotiable instrument?
Compute the book-value weights for each source of capital and Compute the market-value weights for each source of capital.
Give the appropriate journal entries for Lester Company through 31 st December, 2009. Based on the above lease contract, answer the following:-Item(s) and related amount(s) in years 2008 and 2009 reported on:1. Income Statement 2. Balance Sheet 3. S..
The other sheet shows known shrinkages identified during the period. This sheet shows $3,250.00. Neither of these sheets has been journalized. Identify the unknown, and previously unidentified shrinkage value.
what minimum price would be acceptable? What qualitative factors should Big Al’s considered before agreeing to accept the special order?
Multiple choice questions on accounts receivables and bad debts - largest expense on a retailer's income statement
Determine EPS under IFRS rules; Criticize and Defend IFRS Accounting; Evaluate and present the difference in EPS and Net Income between US GAAP and IFRS;
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