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Question 1: Fred company paid 48000 for a two year insurance policy on october 1 and recorded the 48,000 as a debit to prepaid insurance and a credit to cash. What adjusting entry should fred make on december 31, the end of the accounting period (no previous adjusment has been made )?
Calculation of Material cost variance, labor variance and Over head variance and the company records materials price variances at the time of purchase.
On April merchandise costing $15400. If the merchandise shipped FOB New Orleans , Louisiana charges reversed with transportation charges of $300. How much should be remitted ?
The Jane Corporation, an S corporation, makes several property distributions to its two equal shareholders, A and B, during the year. The distributions are as follows: A B Cash $5,000 $5,000 Land (Basis=$5,000) $10,000 (FMV) Equipment (Basis=$15,000)..
What is the YTM - What is the dollar returns? What is the percentage returns?
Crimson Tide borrows $15,000 on September 1, 2012. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 10%. What is the interest rate?
The Preferred Stock account and in the Paid-in-Capital in Excess of Par account resulted from the issuance of preferred stock to retire $500 of bonds payable.
Solano Company has sales of $880,000, cost of goods sold of $560,000, other operating expenses of 45,000, average invested assets of $2,550,000, and a hurdle rate of 12 percent. Company sales and cost of goods sold increase by 40 percent. (Do not rou..
On January 1, 2016, Novotna Company sold the bonds for $372,875 after receiving interest to meet its liquidity needs. Prepare the amortization schedule
The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this is followed, how much overhead cost would be applied to each product.
Atlanta Inc applies manufacturing overhead based on machine hours. The following information is available for the period:
What part of the liberty's annual report is written by the company and could present a biased view of financial conditions and reports?
Determine whether the following instrument is a negotiable instrument, addressing all the requirements of negotiability in your response. I, James Wyatt, promise to pay $12,000 to Buck’s Bikes in four equal installments of principal, beginning on Jan..
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