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Question - The Bennett Company reported the following at the end of the year:
Accounts payable 3,000 Utilities expense 3,200
Advertising expense 4,500 Retained earnings 62,000
Common stock 25,000 Revenue 94,000
Inventory 12,500 Equipment 53,500
Accounts receivable 6,000 Cash 18,000
Required - What amount of total assets does the company have?
Prepare general journal entries for the necessary adjustments as at 31 March 2021. Narrations are not required
For each report below, indicate whether the report is likely to be for internal or external users (some reports may be both), and whether data would come exclusively from the general ledger. The format would be
Aleshia is in the 24% tax bracket, and Rover is subject to a 21% rate. Is Rover correct in believing that a dividend is the better choice? Why or why not
After issuance, similar bonds were sold at 99, and the warrants had a fair value of $2.60. Record the issuance of the bonds and warrants
Mishima Technologies Company introduced Product X to the market on December 1. The new product carries a one-year warranty. In its first month on the market.
The pretax operating income of the division during 2011 was $4 million. Pretax income from continuing operations for the year totaled $14 million. The income tax rate is 40%. Ziltech reported net income for the year of $7.2 million. Determine the ..
Prepare year-end adjusting entries for transactions 1 to 3 and the required entry for transaction 4.company's chief accountant to fill a long-standing vacancy.
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On January 1, 2001, raw materials inventory included direct materials with a cost of $20,000. During the year, the firm purchased direct materials costing $50,000. At year-end, the account included direct materials, with a cost of $5,000.
Discuss four issues that may challenge existing policies and procedures of the consolidation process
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