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suppose greg groovy tunes' inventory account showed a balance of 10000 before the year end adjustements. the physical count of goods on hand totaled 9700. to adjust the accounts, what entry would greg make?
Iota Co. initiated a defined benefit pension plan at the beginning of the current fiscal year. Prior service cost was $240,000, of which $80,000 was amortized, and service cost was $60,000.
Among its 5,000 employees were 165 youngsters aged 14 and 15 who worked full-time during the day and were paid at a rate less than the minimum wage. Which statement is true in accordance with the general rules of the Fair Labor Standards Act?
So what is the effect of a bargain purchase option on accounting for a capital-lease transaction by a lessee?
Discuss how an auditor may go about evaluating the effectiveness of the internal controls of a company.
Under the proportionate consolidation concept, which of the following statements is true?
What the bookkeeper did was definitely unethical. But what if one of her grandchildren had been ill and needed an expensive operation? If this had been the case, would it have been ethical for her to take company funds to pay for the operation if ..
A special order to purchase 10,000 units was recently received. Kandeed has enough capacity to fill the order, and filling the order would not disrupt current production or sales of K.
Information regarding Central Company's individual investments in securities during its calendar-year 2011, along with the December 31,2011, fairs value, follows.
As a result of new automated equipment, it is anticipated that fixed costs will increase by $125,000 and variable costs will be 50% of the selling price. The new break-even point in units is:
During 2012 Daveo sells inventory costing $200,000 to BUA301co for 400,000 on credit. Daveo is concerned about collectability of the receivable so accounts for the transaction under the installment Sales method. Before the end of the year BUA301co..
Jerry recently was offered a position with a major accounting firm. The firm offered Jerry either a signing bonus of $23,000 payable on the first day of work or a signing bonus of $26,000 payable after one year of employment.
Brandywine Homecare, a not-for-profit business, had revenues of 12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million.
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