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Question - What are the appropriate adjusting entries to be used in this situations?
1. Unused supplies at the end of the period is $3,100.
2. 36,000 rent was paid at the beginning of the year and covers a 3-year rent.
3. Machinery was purchased at the beginning of the year and has a salvage value of $10,000 with a useful life of 10 years. Furniture of 180,000 was acquired at the end of march with no residual value and has a life of 9 years.
4. The notes payable of $600,000 is due and demandable in two years and the loan related to it was obtain on December 1 of the current year. It bears interest of 10% per yer.
5. Salaries amounting to $85,000 has remained unrecorded and unpaid.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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