Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Cromartie Corporation purchases a two-year insurance policy on July 1, 2008. At the time, they recorded the transaction as a debit to Insurance Expense and a credit to Cash for $6,000. What adjusting entry should they make on December 31, 2008?
A. Debit Insurance Expense (Ret. Earn) and credit Prepaid Insurance for $1,500
B. Debit Prepaid Insurance and credit Insurance Expense (Ret. Earn) for $4,500
C. Debit Prepaid Insurance and credit Cash for $4,500
D. No adjustment is necessary
sales revenues were 20000. sales returns and allowances were 300. sales discounts were 700. cost of goods sold were
January 1, 2010, Sands Company had Accounts Receivable $55,000 and Allowance for Doubtful Accounts $4,400. Sands Company prepares financial statements annually and uses a perpetual inventory system. During the year the following selected transacti..
on january 31 of this year jennifer pays 700for an option to aquire100 sharesof lifetime corporation common stock for
gioia company acquired some of the 65000 shares of outstanding common stock no par of tristezza corporation during 2011
The company estimates that revenue will increase by $36,000 over the next year as a result of the exhibit. Calculate the impact of the exhibit on company profit
A us company's foreign subsidiary has as its functional currency the local currency. year- end financial statements are being consolidated. the average rate would be used for which account of the foreign entity?
Mary received a liquidating distribution from ABC Corporation as part of the complete liquidation of ABC Corporation. Mary's basis for her ABC Corporation stock was $10,000.
Extend the adjusted trial balance amounts to the Income Statement columns and the Balance Sheet columns.Indicate the order in which the preceding steps would be performed in preparing and completing a spreadsheet
company is preparing its budget for 4th quarter of 2013. ending finished goods inventory is required at 20 of current
During the year, the company sold certain equipment for $285,000, recognizing a gain of $69,000. Because the controller believed that new equipment would be needed in the near future, she decided to defer the gain and amortize it over the life of any..
royal financial services rfs provides front end loan origination services for a number of banks who process and
Why and how you will achieve your sales growth and what significant expenses and investments you expect to incur to achieve your revenue goals.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd