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Ruan's Shipping and Storage underwent a restructuring in 2003. The company conducted a thorough internal audit, during which the following facts were discovered. The audit occurred during 2003 before any adjusting entries or closing entries are prepared.
Additional printers were acquired at the beginning of 2001 and added to the company's office network. The $9,000 cost of the printers was inadvertently recorded as maintenance expense. The printers have 5 year useful lives and no material salvage value. This class of equipment should have been depreciated using the straight-line method with $1,800 of depreciation expense/year.
What entries are required to correct the error and correctly state the balances in the impacted accounts on 12/31/2003? Ignore any tax implications.
Thompson's Jet Skis has operating cash flow of $218. Depreciation is $45 and interest paid is $35. A net total of $69 was paid on long-term debt. The firm spent $180 on fixed assets and increased net working capital by $38. What is the amount of t..
During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. Required: Determine the amount of the PBO at D..
bevard nuptial bakery makes very elaborate wedding cakes to order. the company has an activity-based costing system
What tools can be used for financial statement analysis? What do these tools tell you about financial performance? What kinds of business decisions can be made using these tools?
financial information related to midas interiors for march andapril 2008 is as
Compute the amount of depreciation expense that is deductible under MACRS for 2013 and 2014, assuming that the equipment is classified as five year property.
stronger satellites accepted a five-month 7 interest rate 6000 note from one of its customers on june 1 2008. the
Which one of the following is NOT the component of cost?
Prepare the journal entry to record the interest at June 30, 2015, and December 31, 2015.
As the judge, you will be preparing a sentencing report for the defendant. Give the defendant a name and make up anything else that you think is useful for your report.
laserwords inc. is a book distributor that had been operating in its original facility since 1987. the increase in
Prepare the journal entries required to correct unearned revenue and record the capital lease
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