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Question - You are the recent heir of $75,000 cash, with which you are considering opening a sushi bar in the university community. You would accept cash and credit card payments, which would be handled primarily by your servers. You also plan to offer introductory specials to attract customers during the initial months of business. Identify some advantages and disadvantages of investing in a POS system as part of this new business venture. What internal controls should be implemented to reduce the risk of theft or error related to the handling of cash, credit card payments, and coupons?
Assuming annual depreciation has already been recorded at December 31, calculate the equipment's carrying amount at December 31, 2021
Sarasota Company traded a used welding machine (cost $11,520, accumulated depreciation $3,840) for office equipment with an estimated fair value of $6,400. Sarasota also paid $3,840 cash in the transaction. Prepare the journal entry to record the e..
In 2011,Bodily Corporation reported $300,000 pretax accounting income.The income tax rate that year was 30%.Bodily had an unused $120,000 net operating loss carryforward from 2009 when the tax payable rate was 40%. Bodily income tax payable for 20..
The estimated cost at December 31, 2019, to complete the contract is $1,200,000. Altom was billed $600,000 under the contract. What is total cost occured?
the text indicates that beta is the masure of the risk of a firm. risky firms have betas above 1 and firms with less
rhinos landscaping sells a quality brand of hoes shovels and rakes in a sales mix of 242 25 50 25. the companys fixed
Pina Company purchased, on January 1, 2017, as a held-to-maturity investment, $79,000 of the 9%, Prepare Pina journal entries for purchase of the investment
Assume the marina operator is unsophisticated in business. Explain the managerial significance of the accounting above to this person.
The company had owner drawings totalling $35,000 during the period. Prepare the entries to close Income Summary and the Owner's Drawings account
Explain how these cultural assets are measured and depreciated
Annual depreciation on the equipment is $12,285. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts
Prepare the independent auditor's report related to your audit of Ducks 2015 financial statements that will be included in Ducks
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