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Problem 1: Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and were subject to a 3.5% credit card company collection fee. Alpha Company collected payment from Worldwide Express on July 21. What amounts should be recorded for the following accounts for the July 21 collection?
1. Cash2. Sales3. Service Charge4. Accounts Receivable
gardner company produces plastic that is used for injection-molding applications such as gears for small motors. in
howton amp howton worldwide hhw is planning its operations for the coming year and the ceo wants you to forecast the
Assume that at January 1,2012 the carrying amount of the patent on Celine Dion's books s $43,200. In January, Celine Dion spends $24,000 successfully defending a patent suit. Celine Dion still feels the patent will be useful until the end of 2019...
benton corporation produces two grades of wine from grapes that it buys from california growers. it produces and sells
compare the payment of cash dividends stock dividends and purchase of treasury stock from existing shareholders. what
the current asset section of the excalibur tire companys balance sheet consists of cash marketable securities accounts
Adco Corporation pays the health insurance premiums for all its employees. Adrian is an employee of Adco. Health insurance premiums Adco pays for Adrian cost $1,150 for the current year.
Kutcher Company intended to hold both stocks for several years. Prepare entries necessary to adjust the securities to market value at the end of 2014 and 2015
What differences are there between the trial balance before closing and the trial balance after closing with respect to the following accounts?
1.A sole proprietorship had the following assets and liabilities at the beginning and end of this year.
Using the two class method as defined in ASC 260, what are the distributed earnings (i.e., the partnership's available cash) and undistributed earnings
The company sold 79,000 units and there was no beginning inventory. Calculate the cost of ending inventory under absorption costing
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